Funding you earn now, next payment 00:00 UTC−0.0075%/8h= −8.3% APRnext payment −$0.09 per $10,000 · paid last 24h +0.033%
Price spread now: GMX against Kraken Futures−0.203%54s7-day average −0.038% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.086%+$9 on $10k
+Price spread, last 3 days (all we have)−0.084%−$8 · spread now −0.203%, 7d avg −0.038%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and GMX is 0.165% cheaper against Kraken Futures than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.038%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.086%, so the current rate has only just turned against you. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_ARBUSD | 0.2299 | 0.0233 | pay 0.0029% / 1h | 48m 21s | $1.2M | $4.9M | 50x |
| Short | GMX ARB/USD [ARB-USDC] | 0.2294 | L +0.0274% / S −0.0157% | get 0.0020% / 1h | 48m 21s | $860K | — | 150x |
Kraken Futures PF_ARBUSD
GMX ARB/USD [ARB-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX against Kraken Futures. 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
- −$15.84
- Price spread: −0.203% → −0.038%
- −$16.51
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- −$54.35
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: live order book, 6 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 Kraken Futures live order book, 6 min ago | 14.43 bp | 19.6 bp −$20 | 26.8 bp −$268 | doesn't fit | 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 | −0.1785% | 1h | 0.2287 | −0.528% | $41K | $372K | 12x | as long as short |
| Deribit ARB_USDC-PERPETUAL | −0.0316% | 1h | 0.2293 | −0.245% | $26K | $32K | 25x | as long as short |
| Polymarket Perps ARB-USD | −0.0218% | 1h | 0.2294 | −0.219% | $80K | $2.0M | 10x | as long as short |
| Variational Omni ARB | −0.0182% | 8h | 0.2292 | −0.307% | $1.9M | $2.7M | — | as long as short |
| 01 Exchange ARBUSD | −0.0160% | 1h | 0.2295 | −0.162% | $7K | $2K | 10x | as long as short |
| Bybit ARBUSDT | −0.0155% | 8h | 0.2292 | −0.293% | $59.1M | $129.1M | 50x | as long as short |
| OKX ARB-USDT-SWAP | −0.0105% | 8h | 0.2292 | −0.319% | $23.1M | $162.2M | 50x | as long as short |
| MEXC ARB_USDT | −0.0103% | 8h | 0.2293 | −0.288% | $38.6M | $59.4M | 200x | as long as short |
| Orderly PERP_ARB_USDC | −0.0041% | 8h | 0.2294 | −0.223% | $13K | $398K | 10x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2300 | +0.025% | $68K | $4K | 10x | as long as short |
Injective ARB/USDC PERP
Deribit ARB_USDC-PERPETUAL
Polymarket Perps ARB-USD
Variational Omni ARB
01 Exchange ARBUSD
Bybit ARBUSDT
OKX ARB-USDT-SWAP
MEXC ARB_USDT
Orderly PERP_ARB_USDC
dYdX ARB-USDShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0005% | 1h | 0.2295 | −0.180% | $57K | — | 150x | as long as short |
| Binance ARBUSDT | +0.0005% | 8h | 0.2294 | −0.219% | $67.0M | $314.4M | 75x | as long as short |
| Extended ARB-USD | +0.0008% | 1h | 0.2292 | −0.318% | $365K | $2.3M | 25x | as long as short |
| SoDEX ARB-USD | +0.0018% | 1h | 0.2298 | −0.036% | $4K | $2.6M | 5x | as long as short |
| BloFin ARB-USDT | +0.0021% | 8h | 0.2300 | +0.047% | $3.1M | $2.8M | 75x | as long as short |
| Gate ARB_USDT | +0.0034% | 8h | 0.2294 | −0.236% | $5.5M | $20.1M | 60x | as long as short |
| BingX ARB-USDC | +0.0067% | 8h | 0.2295 | −0.193% | — | $6.5M | — | as long as short |
| Bitget ARBUSDT | +0.0069% | 8h | 0.2294 | −0.223% | $21.8M | $36.6M | 50x | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2295 | −0.192% | $150K | $12K | 3x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2301 | +0.068% | $1.4M | $7.4M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2297 | −0.093% | $41.7M | $47.9M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2296 | −0.115% | $715K | $1.6M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2300 | +0.049% | $48K | $187K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2294 | −0.214% | $20.0M | $16.4M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2291 | −0.351% | $41K | $462K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2292 | −0.294% | $489K | $3.7M | 10x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2291 | −0.354% | $123K | $295K | 50x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2296 | −0.136% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2299 | −0.010% | $294K | $1.1M | 50x | as long as short |
| Phemex ARBUSDT | +0.0100% | 8h | 0.2297 | −0.093% | $5.3M | $13.3M | 50x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0216% | 1h | 0.2301 | +0.081% | $517K | $2.3M | 50x | as long as short |
| Kraken Futures PF_ARBUSDlong | +0.0233% | 1h | 0.2299 | long leg | $1.2M | $4.9M | 50x | |
| GMX ARB/USD [ARB-USDC]short | L +0.0274% / S −0.0157% | 1h | 0.2294 | −0.203% | $860K | — | 150x | |
| Reya ARBRUSDPERP | +0.0290% | 1h | 0.2292 | −0.288% | $2K | $695 | 20x | as long as short |
| RISEx ARB/USDC | +0.0330% | 1h | 0.2297 | −0.075% | $507K | $2.7M | 10x | as long as short |
| Backpack ARB_USDC_PERP | +0.0591% | 1h | 0.2303 | +0.160% | $909K | $2.8M | 20x | as long as short |
gTrade (Gains Network) ARB/USD
Binance ARBUSDT
Extended ARB-USD
SoDEX ARB-USD
BloFin ARB-USDT
Gate ARB_USDT
BingX ARB-USDC
Bitget ARBUSDT
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
Reya ARBRUSDPERP
RISEx ARB/USDC
Backpack ARB_USDC_PERP