Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0241%/8h= +26.3% APRpaid last 24h +0.069%

Price spread now: KuCoin against GMX+0.109%7-day average −0.053% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on GMX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.341%+$34 on $10k

Price spread, last 4 days (all we have)−0.736%−$74 · spread now +0.109%, 7d avg −0.053%

Together, before fees−0.394%−$39 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and KuCoin is 0.163% dearer against GMX than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AR/USD [WBTC.b-USDC]	4.5270	L −0.0141% / S +0.0551%	get 0.0018% / 1h	37m 38s	$582K	—	50x
Short	KuCoin ARUSDTM	4.5320	0.0100	get 0.0100% / 8h	5h 37m	$1.2M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against GMX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee GMXbpFee KuCoinbpOrdersPrice spread, now +0.109%Rate

Funding earned: $50.52
Price spread: +0.109% → −0.053%: $16.28
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $42.8
Costs to cover: 0.240%
Break-even: 1.1 days

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 2 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy GMX no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 2 min ago	5.51 bp	88.3 bp −$88	465.4 bp −$4,654	doesn't fit	doesn't fit

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

AR on 17 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX AR/USD [WBTC.b-USDC]long	L −0.0141% / S +0.0551%	1h	4.5270	long leg	$582K	—	50x
OKX AR-USDT-SWAP	−0.0096%	8h	4.5260	−0.023%	$2.3M	$18.9M	20x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5290	+0.043%	$548	$3K	5.5x	as long as short
Hyperliquid AR	+0.0100%	1h	4.5340	+0.154%	$4.1M	$4.5M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.5330	+0.132%	$19K	$500K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.5260	−0.023%	$9.0M	$51.6M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.5270	−0.001%	$4.7M	$8.4M	75x	as long as short
Gate AR_USDT	+0.0100%	8h	4.5280	+0.021%	$2.5M	$1.9M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.5270	−0.001%	$6.6M	$4.3M	100x	as long as short
KuCoin ARUSDTMshort	+0.0100%	8h	4.5320	+0.109%	$1.2M	$1.2M	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ARUSDT	+0.0100%	8h	4.5230	−0.089%	$3.9M	$5.3M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.5290	+0.043%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.5401	+0.289%	$236K	$258K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.5490	+0.485%	$20K	$725K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.5268	−0.006%	$37K	$239K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.5420	+0.330%	$432K	$498K	20x	as long as short
Kraken Futures PF_ARUSD	+0.1926%	1h	4.5403	+0.292%	$56K	$149K	20x	as long as short