Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0350%/8h= −38.3% APRpaid last 24h −0.092%

Price spread now: Bitget against GMX−0.049%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 Bitget

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 Bitget is 0.049% cheaper against GMX than usual: you would sell low and buy high (−$5 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]	0.1174	L +0.0450% / S −0.0241%	pay 0.0056% / 1h	32m 06s	$44K	—	50x
Short	Bitget CCUSDT	0.1173	0.0100	get 0.0050% / 4h	2h 32m	$918K	$769K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.049%Rate

Funding earned: −$73.42
Price spread: −0.049% → 0.000%: −$4.94
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$102.36
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bitget: live order book, 14 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 Bitget live order book, 14 min ago	3.82 bp	36.1 bp −$36	96.4 bp −$964	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.

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
MEXC CC_USDT	−0.0470%	4h	0.1173	−0.126%	$1.8M	$333K	100x	as long as short
Bybit CCUSDT	−0.0470%	4h	0.1173	−0.092%	$10.7M	$3.8M	25x	as long as short
Injective CC/USDC PERP	+0.0033%	1h	0.1180	+0.504%	$402	$3K	5.5x	as long as short
Paradex CC-USD-PERP	+0.0083%	8h	0.1173	−0.077%	$1K	—	5x	as long as short
Hyperliquid CC	+0.0100%	1h	0.1175	+0.078%	$5.5M	$1.3M	3x	as long as short
Aster CCUSDT	+0.0100%	4h	0.1174	+0.003%	$35K	$32K	20x	as long as short
Binance CCUSDT	+0.0100%	4h	0.1173	−0.109%	$11.0M	$11.8M	75x	as long as short
OKX CC-USDT-SWAP	+0.0100%	4h	0.1173	−0.058%	$2.5M	$3.1M	20x	as long as short
Gate CC_USDT	+0.0100%	4h	0.1173	−0.075%	$364K	$206K	50x	as long as short
KuCoin CCUSDTM	+0.0100%	4h	0.1174	+0.019%	$484K	$104K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CCUSDTshort	+0.0100%	4h	0.1173	−0.049%	$918K	$769K	20x
BingX CC-USDT	+0.0100%	4h	0.1173	−0.109%	—	$6.6M	—	as long as short
Backpack CC_USDC_PERP	+0.0100%	1h	0.1173	−0.083%	$15K	$23K	10x	as long as short
Variational Omni CC	+0.0100%	4h	0.1176	+0.127%	$599K	$56K	—	as long as short
GRVT CC_USDT_Perp	+0.0100%	4h	0.1175	+0.084%	$83K	$2.7M	10x	as long as short
Derive CC-PERP	+0.0100%	1h	0.1172	−0.146%	$6K	$33K	6.7x	as long as short
BloFin CC-USDT	+0.0340%	4h	0.1173	−0.109%	$596K	$98K	75x	as long as short
GMX CC/USD [WBTC.b-USDC]long	L +0.0450% / S −0.0241%	1h	0.1174	long leg	$44K	—	50x
Lighter CC	+0.0664%	1h	0.1179	+0.428%	$252K	$170K	5x	as long as short