Funding you earn now, next payment 03:00 UTC+0.0055%/8h= +6.1% APRpaid last 24h +0.017%
Price spread now: GMX against Phemex−0.091%52s7-day average +0.012% · 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)+0.079%+$8 on $10k
+Price spread, last 4 days (all we have)−1.518%−$152 · spread now −0.091%, 7d avg +0.012%
=Funding pays, the price is against you. GMX is 0.104% cheaper against Phemex than usual: you would sell low and buy high (spread −0.091% now, against its 7-day average of +0.012%). If the spread goes back, that is −$10 on $10k: about 6.2 days of funding at the current rate (+$2 a day). The two prices were read 52 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 | Phemex ARBUSDT | 0.2214 | 0.0100 | pay 0.0100% / 8h | 5h 39m | $5.0M | $12.9M | 50x |
| Short | GMX ARB/USD [ARB-USDC] | 0.2212 | L +0.0273% / S −0.0155% | get 0.0019% / 1h | 39m 27s | $826K | — | 150x |
Phemex ARBUSDT
GMX ARB/USD [ARB-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX against Phemex. 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
- $11.64
- Price spread: −0.091% → +0.012%
- −$10.35
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- −$22.71
- Costs to cover
- 0.240%
- Break-even
- 20.7 days
Slippage unknown: Phemex: live order book, 5 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 Phemex live order book, 5 min ago | 4.50 bp | 15.1 bp −$15 | 25.3 bp −$253 | 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 | −0.1577% | 1h | 0.2205 | −0.407% | $40K | $372K | 12x | as long as short |
| SoDEX ARB-USD | −0.0158% | 1h | 0.2214 | −0.018% | $10K | $2.4M | 5x | as long as short |
| Deribit ARB_USDC-PERPETUAL | −0.0156% | 1h | 0.2215 | +0.032% | $24K | $34K | 25x | as long as short |
| Variational Omni ARB | −0.0150% | 8h | 0.2215 | +0.037% | $1.9M | $2.9M | — | as long as short |
| 01 Exchange ARBUSD | −0.0136% | 1h | 0.2211 | −0.136% | $7K | $2K | 10x | as long as short |
| MEXC ARB_USDT | −0.0135% | 8h | 0.2211 | −0.117% | $38.2M | $59.1M | 200x | as long as short |
| OKX ARB-USDT-SWAP | −0.0134% | 8h | 0.2211 | −0.126% | $22.2M | $151.3M | 50x | as long as short |
| Kraken Futures PF_ARBUSD | −0.0098% | 1h | 0.2216 | +0.078% | $1.1M | $4.6M | 50x | as long as short |
| Polymarket Perps ARB-USD | −0.0097% | 1h | 0.2211 | −0.117% | $96K | $2.1M | 10x | as long as short |
| Gate ARB_USDT | −0.0088% | 8h | 0.2211 | −0.126% | $5.4M | $19.0M | 60x | as long as short |
Injective ARB/USDC PERP
SoDEX ARB-USD
Deribit ARB_USDC-PERPETUAL
Variational Omni ARB
01 Exchange ARBUSD
MEXC ARB_USDT
OKX ARB-USDT-SWAP
Kraken Futures PF_ARBUSD
Polymarket Perps ARB-USD
Gate ARB_USDTShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ARBUSDT | −0.0087% | 8h | 0.2211 | −0.149% | $56.2M | $126.4M | 50x | as long as short |
| Orderly PERP_ARB_USDC | −0.0072% | 8h | 0.2214 | 0.000% | $12K | $384K | 10x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2214 | −0.019% | $65K | $5K | 10x | as long as short |
| Binance ARBUSDT | +0.0004% | 8h | 0.2211 | −0.116% | $64.4M | $308.6M | 75x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0013% | 1h | 0.2212 | −0.090% | $11K | — | 150x | as long as short |
| Extended ARB-USD | +0.0008% | 1h | 0.2210 | −0.174% | $352K | $2.5M | 25x | as long as short |
| ApeX Omni ARBUSDT | +0.0022% | 1h | 0.2223 | +0.407% | $120K | $283K | 50x | as long as short |
| BloFin ARB-USDT | +0.0022% | 8h | 0.2214 | −0.009% | $3.1M | $2.7M | 75x | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2215 | +0.055% | $140K | $7K | 3x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2213 | −0.063% | $1.2M | $6.4M | 15x | as long as short |
| Bitget ARBUSDT | +0.0097% | 8h | 0.2210 | −0.181% | $21.1M | $35.0M | 50x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2213 | −0.054% | $38.4M | $49.7M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2213 | −0.044% | $648K | $1.6M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2212 | −0.089% | $42K | $178K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2212 | −0.095% | $19.5M | $15.5M | 75x | as long as short |
| BingX ARB-USDC | +0.0100% | 8h | 0.2214 | −0.009% | — | $6.5M | — | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2215 | +0.044% | $40K | $461K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2221 | +0.334% | $477K | $3.6M | 10x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2217 | +0.136% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2214 | 0.000% | $297K | $946K | 50x | as long as short |
| Phemex ARBUSDTlong | +0.0100% | 8h | 0.2214 | long leg | $5.0M | $12.9M | 50x | |
| Coinbase International ARB-PERP-INTX | +0.0224% | 1h | 0.2224 | +0.456% | $508K | $2.1M | 50x | as long as short |
| RISEx ARB/USDC | +0.0232% | 1h | 0.2213 | −0.054% | $487K | $2.7M | 10x | as long as short |
| GMX ARB/USD [ARB-USDC]short | L +0.0273% / S −0.0155% | 1h | 0.2212 | −0.091% | $826K | — | 150x | |
| Reya ARBRUSDPERP | +0.0290% | 1h | 0.2211 | −0.147% | $2K | $695 | 20x | as long as short |
| Backpack ARB_USDC_PERP | +0.0547% | 1h | 0.2217 | +0.154% | $999K | $2.8M | 20x | as long as short |
Bybit ARBUSDT
Orderly PERP_ARB_USDC
dYdX ARB-USD
Binance ARBUSDT
gTrade (Gains Network) ARB/USD
Extended ARB-USD
ApeX Omni ARBUSDT
BloFin ARB-USDT
Aevo ARB-PERP
Lighter ARB
Bitget ARBUSDT
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
BingX ARB-USDC
edgeX ARBUSDC
GRVT ARB_USDT_Perp
SunX ARB-USDT
HTX ARB-USDT
Coinbase International ARB-PERP-INTX
RISEx ARB/USDC
Reya ARBRUSDPERP
Backpack ARB_USDC_PERP