Funding you earn now, next payment 23:00 UTC+0.0294%/8h= +32.2% APRpaid last 24h +0.019%
Price spread now: GMX against Bybit+0.098%51s7-day average +0.068% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.079%+$8 on $10k
+Price spread, last 3 days (all we have)+0.307%+$31 · spread now +0.098%, 7d avg +0.068%
=Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and GMX is 0.030% dearer against Bybit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.068%. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.079% in total (about 9.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit ARBUSDT | 0.2233 | −0.0138 | get 0.0138% / 8h | 1h 42m | $57.5M | $135.7M | 50x |
| Short | GMX ARB/USD [ARB-USDC] | 0.2235 | L +0.0274% / S −0.0157% | get 0.0020% / 1h | 42m 32s | $836K | — | 150x |
Bybit ARBUSDT
GMX ARB/USD [ARB-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $61.83
- Price spread: +0.098% → +0.068%
- $3.02
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- $41.85
- Costs to cover
- 0.230%
- Break-even
- 2.3 days
Slippage unknown: Bybit: live order book, 2 min ago; GMX: no order-book sample. 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 Bybit live order book, 2 min ago | 0.22 bp | 9.3 bp −$9 | 16.1 bp −$161 | 43.3 bp −$4,332 | doesn't fit |
| Sell GMX no order-book sample | — | — | — | — | — |
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.
ARB on 36 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective ARB/USDC PERP | −0.1770% | 1h | 0.2223 | −0.426% | $40K | $283K | 12x | as long as short |
| 01 Exchange ARBUSD | −0.0224% | 1h | 0.2233 | +0.040% | $7K | $2K | 10x | as long as short |
| Variational Omni ARB | −0.0157% | 8h | 0.2228 | −0.200% | $1.9M | $2.8M | — | as long as short |
| Bybit ARBUSDTlong | −0.0138% | 8h | 0.2233 | long leg | $57.5M | $135.7M | 50x | |
| OKX ARB-USDT-SWAP | −0.0102% | 8h | 0.2233 | +0.013% | $22.3M | $163.2M | 50x | as long as short |
| MEXC ARB_USDT | −0.0102% | 8h | 0.2233 | +0.022% | $36.6M | $62.2M | 200x | as long as short |
| SoDEX ARB-USD | −0.0068% | 1h | 0.2234 | +0.049% | $4K | $2.8M | 5x | as long as short |
| Polymarket Perps ARB-USD | −0.0060% | 1h | 0.2233 | +0.031% | $76K | $2.2M | 10x | as long as short |
| Orderly PERP_ARB_USDC | −0.0025% | 8h | 0.2234 | +0.067% | $10K | $394K | 10x | as long as short |
| Binance ARBUSDT | −0.0011% | 8h | 0.2233 | +0.022% | $63.6M | $322.5M | 75x | as long as short |
Injective ARB/USDC PERP
01 Exchange ARBUSD
Variational Omni ARB
OKX ARB-USDT-SWAP
MEXC ARB_USDT
SoDEX ARB-USD
Polymarket Perps ARB-USD
Orderly PERP_ARB_USDC
Binance ARBUSDTShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended ARB-USD | −0.0008% | 1h | 0.2232 | −0.018% | $355K | $2.4M | 25x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2233 | +0.011% | $66K | $4K | 10x | as long as short |
| Deribit ARB_USDC-PERPETUAL | 0.0000% | 1h | 0.2235 | +0.094% | $26K | $32K | 25x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0005% | 1h | 0.2235 | +0.102% | $55K | — | 150x | as long as short |
| Gate ARB_USDT | +0.0023% | 8h | 0.2233 | +0.018% | $5.5M | $20.6M | 60x | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2235 | +0.112% | $146K | $12K | 3x | as long as short |
| Bitget ARBUSDT | +0.0082% | 8h | 0.2232 | −0.022% | $20.9M | $38.0M | 50x | as long as short |
| BingX ARB-USDC | +0.0083% | 8h | 0.2231 | −0.063% | — | $6.5M | — | as long as short |
| Kraken Futures PF_ARBUSD | +0.0085% | 1h | 0.2236 | +0.174% | $1.1M | $5.2M | 50x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2234 | +0.058% | $1.3M | $7.3M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2237 | +0.184% | $39.9M | $52.2M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2234 | +0.046% | $694K | $1.7M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2234 | +0.049% | $44K | $197K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2235 | +0.121% | $20.6M | $16.8M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2232 | −0.017% | $36K | $460K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2232 | −0.022% | $480K | $4.0M | 10x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2232 | −0.022% | $121K | $294K | 50x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2235 | +0.112% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2234 | +0.076% | $276K | $1.2M | 50x | as long as short |
| Phemex ARBUSDT | +0.0100% | 8h | 0.2234 | +0.067% | $5.2M | $13.5M | 50x | as long as short |
| BloFin ARB-USDT | +0.0109% | 8h | 0.2234 | +0.058% | $3.0M | $3.3M | 75x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0264% | 1h | 0.2236 | +0.157% | $507K | $2.5M | 50x | as long as short |
| GMX ARB/USD [ARB-USDC]short | L +0.0274% / S −0.0157% | 1h | 0.2235 | +0.098% | $836K | — | 150x | |
| Reya ARBRUSDPERP | +0.0291% | 1h | 0.2233 | +0.003% | $2K | $695 | 20x | as long as short |
| RISEx ARB/USDC | +0.0363% | 1h | 0.2235 | +0.133% | $493K | $2.7M | 10x | as long as short |
| Backpack ARB_USDC_PERP | +0.0627% | 1h | 0.2238 | +0.233% | $1.1M | $2.7M | 20x | as long as short |
Extended ARB-USD
dYdX ARB-USD
Deribit ARB_USDC-PERPETUAL
gTrade (Gains Network) ARB/USD
Gate ARB_USDT
Aevo ARB-PERP
Bitget ARBUSDT
BingX ARB-USDC
Kraken Futures PF_ARBUSD
Lighter ARB
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
edgeX ARBUSDC
GRVT ARB_USDT_Perp
ApeX Omni ARBUSDT
SunX ARB-USDT
HTX ARB-USDT
Phemex ARBUSDT
BloFin ARB-USDT
Coinbase International ARB-PERP-INTX
Reya ARBRUSDPERP
RISEx ARB/USDC
Backpack ARB_USDC_PERP