Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0197%/8h= +21.5% APRpaid last 24h +0.062%

Price spread now: GMX against Orderly+0.009%7-day average +0.020% · you sell dearer than you buy

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

Long on Orderly Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.171%+$17 on $10k

Price spread, last 4 days (all we have)−0.269%−$27 · spread now +0.009%, 7d avg +0.020%

Together, before fees−0.098%−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.020%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_ARB_USDC	0.2200	−0.0038	get 0.0038% / 8h	1h 07m	$12K	$408K	10x
Short	GMX ARB/USD [ARB-USDC]	0.2200	L +0.0276% / S −0.0158%	get 0.0020% / 1h	7m 30s	$829K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Orderly. 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 OrderlybpFee GMXbpOrdersPrice spread, now +0.009%Rate

Funding earned: $41.28
Price spread: +0.009% → +0.020%: −$1.11
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: $22.17
Costs to cover: 0.180%
Break-even: 3.2 days

Slippage unknown: Orderly: no order-book sample; 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 Orderly no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Orderly and 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	−0.1592%	1h	0.2189	−0.500%	$39K	$372K	12x	as long as short
Polymarket Perps ARB-USD	−0.0174%	1h	0.2198	−0.091%	$67K	$2.1M	10x	as long as short
01 Exchange ARBUSD	−0.0152%	1h	0.2195	−0.232%	$7K	$236	10x	as long as short
SoDEX ARB-USD	−0.0110%	1h	0.2196	−0.182%	$9K	$2.2M	5x	as long as short
OKX ARB-USDT-SWAP	−0.0090%	8h	0.2199	−0.041%	$22.1M	$145.1M	50x	as long as short
MEXC ARB_USDT	−0.0089%	8h	0.2198	−0.095%	$42.3M	$62.4M	200x	as long as short
Variational Omni ARB	−0.0044%	8h	0.2201	+0.056%	$1.8M	$3.0M	—	as long as short
Orderly PERP_ARB_USDClong	−0.0038%	8h	0.2200	long leg	$12K	$408K	10x
Bybit ARBUSDT	−0.0009%	8h	0.2199	−0.045%	$54.0M	$126.3M	50x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2197	−0.152%	$65K	$5K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2197	−0.141%	$28K	$38K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0009%	1h	0.2200	+0.018%	$44K	—	150x	as long as short
Gate ARB_USDT	+0.0018%	8h	0.2199	−0.032%	$5.4M	$18.5M	60x	as long as short
Binance ARBUSDT	+0.0035%	8h	0.2199	−0.027%	$63.0M	$301.6M	75x	as long as short
Extended ARB-USD	+0.0040%	1h	0.2195	−0.243%	$350K	$2.9M	25x	as long as short
RISEx ARB/USDC	+0.0056%	1h	0.2197	−0.132%	$485K	$2.6M	10x	as long as short
BingX ARB-USDC	+0.0068%	8h	0.2198	−0.100%	—	$6.5M	—	as long as short
Bitget ARBUSDT	+0.0071%	8h	0.2198	−0.091%	$21.2M	$34.7M	50x	as long as short
Lighter ARB	+0.0096%	1h	0.2196	−0.195%	$1.2M	$5.5M	15x	as long as short
Aevo ARB-PERP	+0.0096%	1h	0.2197	−0.136%	$139K	$7K	3x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2200	+0.009%	$37.2M	$49.2M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2200	−0.018%	$632K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2197	−0.120%	$43K	$148K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2196	−0.177%	$19.5M	$14.2M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2197	−0.114%	$39K	$463K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2199	−0.046%	$478K	$3.6M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2197	−0.136%	$119K	$280K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2198	−0.091%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2197	−0.118%	$293K	$857K	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2197	−0.136%	$4.9M	$12.8M	50x	as long as short
BloFin ARB-USDT	+0.0167%	8h	0.2197	−0.118%	$3.0M	$2.3M	75x	as long as short
Kraken Futures PF_ARBUSD	+0.0232%	1h	0.2198	−0.091%	$1.1M	$4.4M	50x	as long as short
GMX ARB/USD [ARB-USDC]short	L +0.0276% / S −0.0158%	1h	0.2200	+0.009%	$829K	—	150x
Coinbase International ARB-PERP-INTX	+0.0288%	1h	0.2204	+0.168%	$525K	$1.5M	50x	as long as short
Reya ARBRUSDPERP	+0.0289%	1h	0.2198	−0.105%	$2K	$695	20x	as long as short
Backpack ARB_USDC_PERP	+0.0584%	1h	0.2200	−0.009%	$988K	$2.8M	20x	as long as short