Funding arb · Price arb /

ATOM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0215%/8h= −23.5% APRpaid last 24h −0.018%

Price spread now: OKX against GMX−0.235%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 OKX

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 OKX is 0.235% cheaper against GMX than usual: you would sell low and buy high (−$23 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]	1.8052	L +0.0198% / S −0.1417%	pay 0.0025% / 1h	48m 27s	$3K	—	120x
Short	OKX ATOM-USDT-SWAP	1.8010	−0.0016	pay 0.0016% / 8h	2h 48m	$5.2M	$5.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.235%Rate

Funding earned: −$45.06
Price spread: −0.235% → 0.000%: −$23.49
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$90.55
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; OKX: live order book, 4 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 OKX live order book, 4 min ago	2.78 bp	14.7 bp −$15	47.2 bp −$472	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.

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
Deribit ATOM_USDC-PERPETUAL	−0.0471%	1h	1.8026	−0.146%	$496	$10K	25x	as long as short
Bybit ATOMUSDT	−0.0097%	8h	1.8026	−0.146%	$15.1M	$10.5M	75x	as long as short
Variational Omni ATOM	−0.0064%	8h	1.8015	−0.207%	$576K	$18K	—	as long as short
OKX ATOM-USDT-SWAPshort	−0.0016%	8h	1.8010	−0.235%	$5.2M	$5.0M	50x
Coinbase International ATOM-PERP-INTX	−0.0008%	1h	1.8020	−0.179%	$25K	$11K	25x	as long as short
dYdX ATOM-USD	0.0000%	1h	1.8043	−0.052%	$63K	$4K	10x	as long as short
gTrade (Gains Network) ATOM/USD	L 0.0000% / S +0.0001%	1h	1.8049	−0.017%	$9K	—	150x	as long as short
Bitget ATOMUSDT	+0.0068%	8h	1.8038	−0.080%	$6.6M	$2.6M	75x	as long as short
Hyperliquid ATOM	+0.0100%	1h	1.8043	−0.052%	$2.8M	$982K	5x	as long as short
Aster ATOMUSDT	+0.0100%	8h	1.8054	+0.006%	$982K	$238K	20x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ATOMUSDT	+0.0100%	8h	1.8050	−0.013%	$21.6M	$30.1M	75x	as long as short
Gate ATOM_USDT	+0.0100%	8h	1.8030	−0.124%	$2.5M	$828K	75x	as long as short
MEXC ATOM_USDT	+0.0100%	8h	1.8040	−0.069%	$9.0M	$2.9M	200x	as long as short
KuCoin ATOMUSDTM	+0.0100%	8h	1.8040	−0.069%	$1.6M	$801K	50x	as long as short
BingX ATOM-USDT	+0.0100%	8h	1.8040	−0.069%	—	$25.0M	—	as long as short
edgeX ATOMUSDC	+0.0100%	4h	1.8046	−0.033%	$444K	$295K	10x	as long as short
GRVT ATOM_USDT_Perp	+0.0100%	8h	1.8020	−0.179%	$761K	$3.0M	10x	as long as short
HTX ATOM-USDT	+0.0100%	8h	1.8031	−0.119%	$307K	$183K	75x	as long as short
Phemex ATOMUSDT	+0.0100%	8h	1.8040	−0.069%	$1.6M	$1.8M	50x	as long as short
Extended ATOM-USD	+0.0104%	1h	1.8048	−0.023%	$6K	$184K	10x	as long as short
BloFin ATOM-USDT	+0.0118%	8h	1.8020	−0.179%	$1.1M	$324K	75x	as long as short
Injective ATOM/USDC PERP	+0.0132%	1h	1.8060	+0.042%	$659	$117K	12x	as long as short
GMX ATOM/USD [ETH-USDC]long	L +0.0198% / S −0.1417%	1h	1.8052	long leg	$3K	—	120x
Kraken Futures PF_ATOMUSD	+0.0204%	1h	1.8046	−0.037%	$3.1M	$672K	50x	as long as short
Reya ATOMRUSDPERP	+0.0228%	1h	1.8027	−0.142%	$2K	—	25x	as long as short