Funding arb · Price arb /

CC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0141%/8h= +15.5% APRpaid last 24h +0.034%

Price spread now: GMX against Bybit+0.062%7-day average — · you sell dearer than you buy

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 for this trade now. Funding pays +$4 a day on $10k at the current rate, and GMX is 0.062% dearer against Bybit than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CCUSDT	0.1182	0.0100	pay 0.0050% / 4h	8m 59s	$10.7M	$3.8M	25x
Short	GMX CC/USD [WBTC.b-USDC]	0.1182	L +0.0448% / S −0.0241%	get 0.0030% / 1h	8m 59s	$44K	—	50x

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 +0.062%Rate

Funding earned: $29.7
Price spread: +0.062% → 0.000%: $6.18
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: $12.88
Costs to cover: 0.230%
Break-even: 4.0 days

Slippage unknown: Bybit: live order book, 4 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, 4 min ago	3.81 bp	35.1 bp −$35	347.4 bp −$3,474	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.

CC on 19 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
Injective CC/USDC PERP	−0.3320%	1h	0.1169	−1.066%	$6K	$100	5.5x	as long as short
Paradex CC-USD-PERP	+0.0098%	8h	0.1181	−0.041%	$1K	—	5x	as long as short
Aster CCUSDT	+0.0100%	4h	0.1182	+0.021%	$35K	$38K	20x	as long as short
Binance CCUSDT	+0.0100%	4h	0.1181	−0.030%	$11.1M	$11.2M	75x	as long as short
Bybit CCUSDTlong	+0.0100%	4h	0.1182	long leg	$10.7M	$3.8M	25x
OKX CC-USDT-SWAP	+0.0100%	4h	0.1182	+0.017%	$2.6M	$3.5M	20x	as long as short
Gate CC_USDT	+0.0100%	4h	0.1181	−0.017%	$365K	$214K	50x	as long as short
MEXC CC_USDT	+0.0100%	4h	0.1182	+0.008%	$1.6M	$316K	100x	as long as short
KuCoin CCUSDTM	+0.0100%	4h	0.1184	+0.178%	$501K	$116K	50x	as long as short
Bitget CCUSDT	+0.0100%	4h	0.1182	+0.076%	$944K	$792K	20x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CC-USDT	+0.0100%	4h	0.1183	+0.093%	—	$6.6M	—	as long as short
Backpack CC_USDC_PERP	+0.0100%	1h	0.1182	+0.068%	$15K	$22K	10x	as long as short
Variational Omni CC	+0.0100%	4h	0.1180	−0.108%	$589K	$43K	—	as long as short
GRVT CC_USDT_Perp	+0.0100%	4h	0.1182	0.000%	$82K	$2.3M	10x	as long as short
Derive CC-PERP	+0.0100%	1h	0.1180	−0.096%	$6K	$36K	6.7x	as long as short
BloFin CC-USDT	+0.0340%	4h	0.1180	−0.110%	$589K	$107K	75x	as long as short
GMX CC/USD [WBTC.b-USDC]short	L +0.0448% / S −0.0241%	1h	0.1182	+0.062%	$44K	—	50x
Hyperliquid CC	+0.0508%	1h	0.1184	+0.245%	$5.5M	$1.3M	3x	as long as short
Lighter CC	+0.1008%	1h	0.1187	+0.423%	$236K	$154K	5x	as long as short