Funding you earn now, next payment 00:00 UTC+0.0172%/8h= +18.8% APRnext payment +$0.21 per $10,000 · paid last 24h +0.048%
Price spread now: Backpack against GMX+0.077%7-day average +0.049% · 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)−0.036%−$4 on $10k
+Price spread, last 3 days (all we have)−0.372%−$37 · spread now +0.077%, 7d avg +0.049%
=Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Backpack is 0.029% dearer against GMX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.049%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX ARB/USD [ARB-USDC] | 0.2266 | L +0.0296% / S −0.0186% | pay 0.0037% / 1h | 10m 46s | $926K | — | 150x |
| Short | Backpack ARB_USDC_PERP | 0.2268 | 0.0468 | get 0.0058% / 1h | 10m 46s | $1.0M | $2.9M | 20x |
GMX ARB/USD [ARB-USDC]
Backpack ARB_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against GMX. 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
- $36.03
- Price spread: +0.077% → +0.049%
- $2.85
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $16.88
- Costs to cover
- 0.220%
- Break-even
- 3.7 days
Slippage unknown: GMX: no order-book sample; Backpack: live order book, 3 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 Backpack live order book, 3 min ago | 1.32 bp | 8.2 bp −$8 | 426.9 bp −$4,269 | 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.
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 | −0.1785% | 1h | 0.2258 | −0.351% | $41K | $372K | 12x | as long as short |
| Polymarket Perps ARB-USD | −0.0249% | 1h | 0.2265 | −0.055% | $68K | $2.0M | 10x | as long as short |
| Deribit ARB_USDC-PERPETUAL | −0.0235% | 1h | 0.2265 | −0.042% | $25K | $34K | 25x | as long as short |
| 01 Exchange ARBUSD | −0.0192% | 1h | 0.2265 | −0.042% | $7K | $2K | 10x | as long as short |
| Variational Omni ARB | −0.0192% | 8h | 0.2264 | −0.107% | $2.0M | $2.8M | — | as long as short |
| Bybit ARBUSDT | −0.0173% | 8h | 0.2267 | +0.033% | $58.4M | $128.2M | 50x | as long as short |
| SoDEX ARB-USD | −0.0166% | 1h | 0.2264 | −0.086% | $4K | $2.6M | 5x | as long as short |
| OKX ARB-USDT-SWAP | −0.0111% | 8h | 0.2266 | +0.024% | $22.8M | $159.6M | 50x | as long as short |
| MEXC ARB_USDT | −0.0109% | 8h | 0.2267 | +0.038% | $38.5M | $60.1M | 200x | as long as short |
| Orderly PERP_ARB_USDC | −0.0040% | 8h | 0.2264 | −0.086% | $13K | $394K | 10x | as long as short |
Injective ARB/USDC PERP
Polymarket Perps ARB-USD
Deribit ARB_USDC-PERPETUAL
01 Exchange ARBUSD
Variational Omni ARB
Bybit ARBUSDT
SoDEX ARB-USD
OKX ARB-USDT-SWAP
MEXC ARB_USDT
Orderly PERP_ARB_USDCShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate ARB_USDT | −0.0010% | 8h | 0.2267 | +0.060% | $5.5M | $20.3M | 60x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2270 | +0.165% | $67K | $4K | 10x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0005% | 1h | 0.2266 | +0.016% | $56K | — | 150x | as long as short |
| Binance ARBUSDT | +0.0007% | 8h | 0.2267 | +0.035% | $66.7M | $313.6M | 75x | as long as short |
| Extended ARB-USD | +0.0008% | 1h | 0.2266 | +0.022% | $361K | $2.3M | 25x | as long as short |
| BloFin ARB-USDT | +0.0028% | 8h | 0.2266 | −0.002% | $3.2M | $2.8M | 75x | as long as short |
| Bitget ARBUSDT | +0.0056% | 8h | 0.2266 | +0.002% | $21.4M | $35.9M | 50x | as long as short |
| BingX ARB-USDC | +0.0062% | 8h | 0.2265 | −0.033% | — | $6.5M | — | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2266 | −0.017% | $148K | $12K | 3x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2266 | +0.015% | $1.4M | $7.5M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2270 | +0.157% | $41.1M | $47.7M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2268 | +0.070% | $707K | $1.6M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2270 | +0.166% | $47K | $184K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2267 | +0.064% | $19.7M | $16.1M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2268 | +0.110% | $40K | $460K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2269 | +0.134% | $487K | $3.6M | 10x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2268 | +0.090% | $122K | $295K | 50x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2269 | +0.135% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2267 | +0.038% | $292K | $1.1M | 50x | as long as short |
| Phemex ARBUSDT | +0.0100% | 8h | 0.2265 | −0.042% | $5.2M | $13.1M | 50x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0216% | 1h | 0.2274 | +0.355% | $513K | $2.3M | 50x | as long as short |
| Kraken Futures PF_ARBUSD | +0.0236% | 1h | 0.2267 | +0.061% | $1.1M | $4.9M | 50x | as long as short |
| Reya ARBRUSDPERP | +0.0290% | 1h | 0.2264 | −0.076% | $2K | $695 | 20x | as long as short |
| GMX ARB/USD [ARB-USDC]long | L +0.0296% / S −0.0186% | 1h | 0.2266 | long leg | $926K | — | 150x | |
| RISEx ARB/USDC | +0.0330% | 1h | 0.2268 | +0.097% | $515K | $2.7M | 10x | as long as short |
| Backpack ARB_USDC_PERPshort | +0.0468% | 1h | 0.2268 | +0.077% | $1.0M | $2.9M | 20x |
Gate ARB_USDT
dYdX ARB-USD
gTrade (Gains Network) ARB/USD
Binance ARBUSDT
Extended ARB-USD
BloFin ARB-USDT
Bitget ARBUSDT
BingX ARB-USDC
Aevo ARB-PERP
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
Coinbase International ARB-PERP-INTX
Kraken Futures PF_ARBUSD
Reya ARBRUSDPERP
RISEx ARB/USDC