Funding arb · Price arb /

BRETT

all BRETT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Bybit against GMX+0.407%51s7-day average — · you sell dearer than you buy

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 for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bybit is 0.407% dearer against GMX than usual: you sell high and buy low: +$41 more if the spread goes back to zero (this spread has no 7-day history yet). 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	GMX BRETT/USD [ETH-USDC]	0.005899	L 0.0000% / S 0.0000%	get 0.0000% / 1h	16m 37s	—	—	100x
Short	Bybit BRETTUSDT	0.005923	0.0100	get 0.0050% / 4h	3h 16m	$2.1M	$1.8M	25x

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 +0.407%Rate

Funding earned: $21
Price spread: +0.407% → 0.000%: $40.68
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $38.68
Costs to cover: 0.230%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Bybit: 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 Bybit live order book, 5 min ago	5.93 bp	40.2 bp −$40	147.0 bp −$1,470	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.

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]long	L 0.0000% / S 0.0000%	1h	0.005899	long leg	—	—	100x
Injective BRETT/USDC PERP	+0.0033%	1h	0.005839	−1.017%	$61	$854	5.5x	as long as short
BloFin BRETT-USDT	+0.0057%	4h	0.005903	+0.068%	$58K	$187K	50x	as long as short
Binance BRETTUSDT	+0.0100%	4h	0.005933	+0.576%	$1.2M	$2.5M	50x	as long as short
Bybit BRETTUSDTshort	+0.0100%	4h	0.005923	+0.407%	$2.1M	$1.8M	25x
OKX BRETT-USDT-SWAP	+0.0100%	4h	0.005945	+0.780%	$135K	$264K	10x	as long as short
Gate BRETT_USDT	+0.0100%	4h	0.005914	+0.254%	$439K	$109K	25x	as long as short
MEXC BRETT_USDT	+0.0100%	4h	0.005929	+0.509%	$12.7M	$213K	200x	as long as short
KuCoin BRETTUSDTM	+0.0100%	4h	0.005903	+0.068%	$317K	$84K	30x	as long as short
Bitget BRETTUSDT	+0.0100%	4h	0.005919	+0.339%	$1.4M	$642K	50x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BRETT-USDT	+0.0100%	4h	0.005907	+0.136%	—	$1.4M	—	as long as short
Variational Omni BRETT	+0.0100%	4h	0.005906	+0.119%	$44K	$114K	—	as long as short
Hyperliquid BRETT	+0.0371%	1h	0.005934	+0.593%	$322K	$253K	3x	as long as short
Kraken Futures PF_BRETTUSD	+0.1040%	1h	0.005913	+0.235%	$48K	$73K	10x	as long as short