Funding arb · Price arb /

BRETT

all BRETT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: GMX against Bybit−0.137%51s7-day average — · you buy dearer than you sell

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

Long on Bybit 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 against this trade now: funding costs −$3 a day on $10k at the current rate, and GMX is 0.137% cheaper against Bybit than usual: you would sell low and buy high (−$14 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 51 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	Bybit BRETTUSDT	0.005826	0.0100	pay 0.0050% / 4h	3h 46m	$2.1M	$1.8M	25x
Short	GMX BRETT/USD [ETH-USDC]	0.005818	L 0.0000% / S 0.0000%	get 0.0000% / 1h	46m 26s	—	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bybit. 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 BybitbpFee GMXbpOrdersPrice spread, now −0.137%Rate

Funding earned: −$21
Price spread: −0.137% → 0.000%: −$13.73
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: −$57.73
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: Bybit: 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 Bybit live order book, 5 min ago	5.98 bp	36.0 bp −$36	146.1 bp −$1,461	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.

BRETT on 14 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
GMX BRETT/USD [ETH-USDC]short	L 0.0000% / S 0.0000%	1h	0.005818	−0.137%	—	—	100x
BloFin BRETT-USDT	+0.0083%	4h	0.005823	−0.051%	$58K	$165K	50x	as long as short
Binance BRETTUSDT	+0.0100%	4h	0.005828	+0.037%	$1.2M	$2.4M	50x	as long as short
Bybit BRETTUSDTlong	+0.0100%	4h	0.005826	long leg	$2.1M	$1.8M	25x
OKX BRETT-USDT-SWAP	+0.0100%	4h	0.005827	+0.017%	$132K	$265K	10x	as long as short
Gate BRETT_USDT	+0.0100%	4h	0.005823	−0.051%	$437K	$108K	25x	as long as short
MEXC BRETT_USDT	+0.0100%	4h	0.005824	−0.034%	$12.5M	$204K	200x	as long as short
KuCoin BRETTUSDTM	+0.0100%	4h	0.005831	+0.086%	$331K	$74K	30x	as long as short
Bitget BRETTUSDT	+0.0100%	4h	0.005812	−0.240%	$1.4M	$674K	50x	as long as short
BingX BRETT-USDT	+0.0100%	4h	0.005827	+0.017%	—	$1.4M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BRETT	+0.0100%	4h	0.005853	+0.464%	$53K	$127K	—	as long as short
Kraken Futures PF_BRETTUSD	+0.0414%	1h	0.005822	−0.070%	$35K	$61K	10x	as long as short
Hyperliquid BRETT	+0.0624%	1h	0.005839	+0.223%	$336K	$206K	3x	as long as short
Injective BRETT/USDC PERP	+0.1245%	1h	0.005839	+0.223%	$61	$854	5.5x	as long as short