Funding arb · Price arb /

CC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0347%/8h= −38.0% APRpaid last 24h −0.091%

Price spread now: BingX against GMX−0.175%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 BingX

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 −$10 a day on $10k at the current rate, and BingX is 0.175% cheaper against GMX than usual: you would sell low and buy high (−$18 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 CC/USD [WBTC.b-USDC]	0.1168	L +0.0447% / S −0.0241%	pay 0.0056% / 1h	53m 39s	$44K	—	50x
Short	BingX CC-USDT	0.1166	0.0100	get 0.0050% / 4h	53m 39s	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.175%Rate

Funding earned: −$72.85
Price spread: −0.175% → 0.000%: −$17.55
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$112.4
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; BingX: live order book, 13 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 BingX live order book, 13 min ago	5.55 bp	20.9 bp −$21	78.5 bp −$785	344.8 bp −$34.5K	1097.0 bp −$548.5K

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	−0.3024%	1h	0.1180	+1.006%	$402	$3K	5.5x	as long as short
Bybit CCUSDT	−0.0147%	4h	0.1166	−0.167%	$10.6M	$3.8M	25x	as long as short
MEXC CC_USDT	−0.0146%	4h	0.1167	−0.124%	$1.7M	$323K	100x	as long as short
Paradex CC-USD-PERP	+0.0098%	8h	0.1166	−0.226%	$1K	—	5x	as long as short
Hyperliquid CC	+0.0100%	1h	0.1169	+0.090%	$5.5M	$1.4M	3x	as long as short
Aster CCUSDT	+0.0100%	4h	0.1169	+0.023%	$34K	$32K	20x	as long as short
Binance CCUSDT	+0.0100%	4h	0.1167	−0.081%	$11.0M	$12.1M	75x	as long as short
OKX CC-USDT-SWAP	+0.0100%	4h	0.1165	−0.244%	$2.5M	$3.4M	20x	as long as short
Gate CC_USDT	+0.0100%	4h	0.1166	−0.184%	$361K	$216K	50x	as long as short
KuCoin CCUSDTM	+0.0100%	4h	0.1168	−0.047%	$481K	$122K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CCUSDT	+0.0100%	4h	0.1166	−0.201%	$913K	$772K	20x	as long as short
BingX CC-USDTshort	+0.0100%	4h	0.1166	−0.175%	—	$6.6M	—
Backpack CC_USDC_PERP	+0.0100%	1h	0.1167	−0.090%	$15K	$22K	10x	as long as short
Variational Omni CC	+0.0100%	4h	0.1168	−0.008%	$594K	$55K	—	as long as short
GRVT CC_USDT_Perp	+0.0100%	4h	0.1168	−0.048%	$90K	$2.4M	10x	as long as short
Derive CC-PERP	+0.0100%	1h	0.1166	−0.156%	$6K	$35K	6.7x	as long as short
BloFin CC-USDT	+0.0340%	4h	0.1168	−0.056%	$598K	$98K	75x	as long as short
GMX CC/USD [WBTC.b-USDC]long	L +0.0447% / S −0.0241%	1h	0.1168	long leg	$44K	—	50x
Lighter CC	+0.0928%	1h	0.1173	+0.441%	$243K	$160K	5x	as long as short