Funding arb · Price arb /

ATOM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0098%/8h= −10.8% APRpaid last 24h −0.039%

Price spread now: Phemex against GMX−0.037%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 Phemex

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 −$3 a day on $10k at the current rate, and Phemex is 0.037% 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]	1.8067	L +0.0198% / S −0.1417%	pay 0.0025% / 1h	28m 34s	$3K	—	120x
Short	Phemex ATOMUSDT	1.8060	0.0100	get 0.0100% / 8h	4h 28m	$1.6M	$1.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.037%Rate

Funding earned: −$20.62
Price spread: −0.037% → 0.000%: −$3.72
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$48.34
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Phemex: live order book, 5 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 Phemex live order book, 5 min ago	2.77 bp	18.6 bp −$19	33.9 bp −$339	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
Coinbase International ATOM-PERP-INTX	−0.0312%	1h	1.8040	−0.148%	$25K	$4K	25x	as long as short
Variational Omni ATOM	−0.0064%	8h	1.8042	−0.138%	$576K	$74K	—	as long as short
Bybit ATOMUSDT	−0.0012%	8h	1.8036	−0.170%	$15.0M	$9.8M	75x	as long as short
dYdX ATOM-USD	0.0000%	1h	1.8050	−0.093%	$63K	$4K	10x	as long as short
Deribit ATOM_USDC-PERPETUAL	0.0000%	1h	1.8066	−0.004%	$497	$10K	25x	as long as short
gTrade (Gains Network) ATOM/USD	L +0.0001% / S +0.0001%	1h	1.8074	+0.040%	$803	—	150x	as long as short
OKX ATOM-USDT-SWAP	+0.0010%	8h	1.8030	−0.203%	$5.0M	$5.5M	50x	as long as short
Hyperliquid ATOM	+0.0100%	1h	1.8044	−0.126%	$2.8M	$752K	5x	as long as short
Aster ATOMUSDT	+0.0100%	8h	1.8040	−0.148%	$978K	$234K	20x	as long as short
Binance ATOMUSDT	+0.0100%	8h	1.8042	−0.135%	$21.4M	$29.8M	75x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ATOM_USDT	+0.0100%	8h	1.8050	−0.093%	$2.5M	$811K	75x	as long as short
MEXC ATOM_USDT	+0.0100%	8h	1.8030	−0.203%	$8.5M	$3.1M	200x	as long as short
KuCoin ATOMUSDTM	+0.0100%	8h	1.8060	−0.037%	$1.6M	$670K	50x	as long as short
Bitget ATOMUSDT	+0.0100%	8h	1.8027	−0.220%	$6.8M	$2.6M	75x	as long as short
BingX ATOM-USDT	+0.0100%	8h	1.8050	−0.093%	—	$24.4M	—	as long as short
edgeX ATOMUSDC	+0.0100%	4h	1.8052	−0.084%	$444K	$296K	10x	as long as short
GRVT ATOM_USDT_Perp	+0.0100%	8h	1.8055	−0.065%	$770K	$2.7M	10x	as long as short
HTX ATOM-USDT	+0.0100%	8h	1.8064	−0.015%	$314K	$176K	75x	as long as short
Phemex ATOMUSDTshort	+0.0100%	8h	1.8060	−0.037%	$1.6M	$1.9M	50x
Extended ATOM-USD	+0.0104%	1h	1.8038	−0.159%	$7K	$202K	10x	as long as short
Injective ATOM/USDC PERP	+0.0116%	1h	1.8070	+0.018%	$659	$290K	12x	as long as short
BloFin ATOM-USDT	+0.0122%	8h	1.8050	−0.093%	$1.1M	$298K	75x	as long as short
GMX ATOM/USD [ETH-USDC]long	L +0.0198% / S −0.1417%	1h	1.8067	long leg	$3K	—	120x
Reya ATOMRUSDPERP	+0.0228%	1h	1.8032	−0.192%	$2K	—	25x	as long as short
Kraken Futures PF_ATOMUSD	+0.0356%	1h	1.8090	+0.130%	$3.1M	$708K	50x	as long as short