Funding arb · Price arb /

ATOM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0191%/8h= −20.9% APRpaid last 24h −0.039%

Price spread now: Bybit against GMX−0.043%7-day average — · you buy dearer than you sell

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

Long on GMX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Bybit is 0.043% cheaper against GMX than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ATOM/USD [ETH-USDC]	1.8208	L +0.0203% / S −0.2202%	pay 0.0025% / 1h	1m 16s	$4K	—	120x
Short	Bybit ATOMUSDT	1.8200	0.0012	get 0.0012% / 8h	1h 01m	$15.3M	$10.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against GMX. 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 GMXbpFee BybitbpOrdersPrice spread, now −0.043%Rate

Funding earned: −$40.13
Price spread: −0.043% → 0.000%: −$4.26
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$67.39
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bybit: live order book, 2 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 Bybit live order book, 2 min ago	2.75 bp	13.5 bp −$13	28.6 bp −$286	101.5 bp −$10.1K	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.

ATOM on 25 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
OKX ATOM-USDT-SWAP	−0.0097%	8h	1.8200	−0.043%	$5.2M	$5.4M	50x	as long as short
dYdX ATOM-USD	0.0000%	1h	1.8217	+0.048%	$64K	$3K	10x	as long as short
Deribit ATOM_USDC-PERPETUAL	0.0000%	1h	1.8206	−0.010%	$500	$10K	25x	as long as short
gTrade (Gains Network) ATOM/USD	L 0.0000% / S +0.0001%	1h	1.8207	−0.005%	$9K	—	150x	as long as short
Variational Omni ATOM	+0.0004%	8h	1.8183	−0.138%	$580K	$81K	—	as long as short
Bybit ATOMUSDTshort	+0.0012%	8h	1.8200	−0.043%	$15.3M	$10.6M	75x
Coinbase International ATOM-PERP-INTX	+0.0032%	1h	1.8150	−0.317%	$25K	$12K	25x	as long as short
BloFin ATOM-USDT	+0.0081%	8h	1.8210	+0.012%	$1.1M	$339K	75x	as long as short
Kraken Futures PF_ATOMUSD	+0.0099%	1h	1.8222	+0.077%	$3.1M	$675K	50x	as long as short
Hyperliquid ATOM	+0.0100%	1h	1.8203	−0.026%	$2.8M	$862K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ATOMUSDT	+0.0100%	8h	1.8200	−0.044%	$990K	$235K	20x	as long as short
Binance ATOMUSDT	+0.0100%	8h	1.8210	+0.012%	$21.7M	$30.9M	75x	as long as short
Gate ATOM_USDT	+0.0100%	8h	1.8200	−0.043%	$2.5M	$849K	75x	as long as short
MEXC ATOM_USDT	+0.0100%	8h	1.8200	−0.043%	$9.1M	$2.9M	200x	as long as short
KuCoin ATOMUSDTM	+0.0100%	8h	1.8210	+0.012%	$1.6M	$835K	50x	as long as short
Bitget ATOMUSDT	+0.0100%	8h	1.8214	+0.034%	$6.9M	$2.8M	75x	as long as short
BingX ATOM-USDT	+0.0100%	8h	1.8210	+0.012%	—	$24.8M	—	as long as short
edgeX ATOMUSDC	+0.0100%	4h	1.8211	+0.017%	$448K	$295K	10x	as long as short
GRVT ATOM_USDT_Perp	+0.0100%	8h	1.8202	−0.033%	$769K	$2.9M	10x	as long as short
HTX ATOM-USDT	+0.0100%	8h	1.8182	−0.141%	$311K	$179K	75x	as long as short
Phemex ATOMUSDT	+0.0100%	8h	1.8200	−0.043%	$1.6M	$1.9M	50x	as long as short
Extended ATOM-USD	+0.0104%	1h	1.8199	−0.049%	$6K	$184K	10x	as long as short
Injective ATOM/USDC PERP	+0.0143%	1h	1.8220	+0.067%	$665	$290K	12x	as long as short
GMX ATOM/USD [ETH-USDC]long	L +0.0203% / S −0.2202%	1h	1.8208	long leg	$4K	—	120x
Reya ATOMRUSDPERP	+0.0228%	1h	1.8188	−0.111%	$2K	—	25x	as long as short