Funding arb · Price arb /

ATOM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.1317%/8h= +144.2% APRpaid last 24h +0.214%

Price spread now: GMX against Phemex+0.154%52s7-day average — · you sell dearer than you buy

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

Long on Phemex Short on GMX

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 for this trade now. Funding pays +$39 a day on $10k at the current rate, and GMX is 0.154% dearer against Phemex than usual: you sell high and buy low: +$15 more if the spread goes back to zero (this spread has no 7-day history yet). 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 ATOMUSDT	1.8030	0.0100	pay 0.0100% / 8h	6h 30m	$1.6M	$1.9M	50x
Short	GMX ATOM/USD [ETH-USDC]	1.8058	L +0.0198% / S −0.1417%	get 0.0177% / 1h	30m 26s	$3K	—	120x

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 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 PhemexbpFee GMXbpOrdersPrice spread, now +0.154%Rate

Funding earned: $276.47
Price spread: +0.154% → 0.000%: $15.45
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $267.91
Costs to cover: 0.240%
Break-even: 0.2 days

Slippage unknown: Phemex: live order book, 3 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, 3 min ago	2.78 bp	16.0 bp −$16	39.0 bp −$390	117.3 bp −$11.7K	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.

ATOM on 24 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
Bybit ATOMUSDT	−0.0208%	8h	1.8040	+0.055%	$15.1M	$10.8M	75x	as long as short
OKX ATOM-USDT-SWAP	−0.0097%	8h	1.8030	0.000%	$5.1M	$5.7M	50x	as long as short
Variational Omni ATOM	−0.0097%	8h	1.8002	−0.154%	$576K	$76K	—	as long as short
Kraken Futures PF_ATOMUSD	−0.0010%	1h	1.8077	+0.262%	$3.1M	$698K	50x	as long as short
dYdX ATOM-USD	0.0000%	1h	1.8047	+0.095%	$63K	$4K	10x	as long as short
Deribit ATOM_USDC-PERPETUAL	0.0000%	1h	1.8057	+0.150%	$496	$10K	25x	as long as short
gTrade (Gains Network) ATOM/USD	L +0.0001% / S +0.0001%	1h	1.8055	+0.141%	$1K	—	150x	as long as short
Coinbase International ATOM-PERP-INTX	+0.0024%	1h	1.7940	−0.499%	$25K	$11K	25x	as long as short
Hyperliquid ATOM	+0.0100%	1h	1.8043	+0.072%	$2.8M	$850K	5x	as long as short
Aster ATOMUSDT	+0.0100%	8h	1.8021	−0.050%	$977K	$245K	20x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ATOMUSDT	+0.0100%	8h	1.8050	+0.111%	$21.4M	$31.6M	75x	as long as short
Gate ATOM_USDT	+0.0100%	8h	1.8040	+0.055%	$2.5M	$820K	75x	as long as short
MEXC ATOM_USDT	+0.0100%	8h	1.8040	+0.055%	$8.5M	$3.1M	200x	as long as short
KuCoin ATOMUSDTM	+0.0100%	8h	1.8060	+0.166%	$1.6M	$775K	50x	as long as short
Bitget ATOMUSDT	+0.0100%	8h	1.8047	+0.094%	$6.8M	$2.9M	75x	as long as short
BingX ATOM-USDT	+0.0100%	8h	1.8030	0.000%	—	$24.7M	—	as long as short
edgeX ATOMUSDC	+0.0100%	4h	1.8015	−0.085%	$443K	$295K	10x	as long as short
GRVT ATOM_USDT_Perp	+0.0100%	8h	1.7990	−0.222%	$769K	$2.9M	10x	as long as short
HTX ATOM-USDT	+0.0100%	8h	1.8025	−0.028%	$313K	$181K	75x	as long as short
Phemex ATOMUSDTlong	+0.0100%	8h	1.8030	long leg	$1.6M	$1.9M	50x
Extended ATOM-USD	+0.0104%	1h	1.8045	+0.084%	$5K	$208K	10x	as long as short
Injective ATOM/USDC PERP	+0.0171%	1h	1.8060	+0.166%	$659	$290K	12x	as long as short
GMX ATOM/USD [ETH-USDC]short	L +0.0198% / S −0.1417%	1h	1.8058	+0.154%	$3K	—	120x
Reya ATOMRUSDPERP	+0.0228%	1h	1.8038	+0.042%	$2K	—	25x	as long as short