Funding arb · Price arb /

CC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0530%/8h= −58.1% APRpaid last 24h −0.093%

Price spread now: Bybit against GMX−0.028%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 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 against this trade now: funding costs −$16 a day on $10k at the current rate, and Bybit is 0.028% cheaper against GMX than usual: you would sell low and buy high (−$3 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]	0.1180	L +0.0449% / S −0.0241%	pay 0.0056% / 1h	18m 05s	$44K	—	50x
Short	Bybit CCUSDT	0.1180	−0.0081	pay 0.0040% / 4h	1h 18m	$10.7M	$3.8M	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 −0.028%Rate

Funding earned: −$111.36
Price spread: −0.028% → 0.000%: −$2.8
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$137.16
Costs to cover: 0.230%
Break-even: never at this rate

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	2.55 bp	36.5 bp −$37	286.7 bp −$2,867	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
Injective CC/USDC PERP	−0.4093%	1h	0.1180	−0.019%	$402	$3K	5.5x	as long as short
Bybit CCUSDTshort	−0.0081%	4h	0.1180	−0.028%	$10.7M	$3.8M	25x
MEXC CC_USDT	−0.0076%	4h	0.1180	+0.014%	$1.7M	$323K	100x	as long as short
Paradex CC-USD-PERP	+0.0097%	8h	0.1179	−0.117%	$1K	—	5x	as long as short
Aster CCUSDT	+0.0100%	4h	0.1180	−0.013%	$35K	$32K	20x	as long as short
Binance CCUSDT	+0.0100%	4h	0.1180	−0.019%	$11.2M	$12.1M	75x	as long as short
OKX CC-USDT-SWAP	+0.0100%	4h	0.1181	+0.091%	$2.6M	$3.4M	20x	as long as short
Gate CC_USDT	+0.0100%	4h	0.1179	−0.104%	$365K	$218K	50x	as long as short
KuCoin CCUSDTM	+0.0100%	4h	0.1181	+0.091%	$487K	$122K	50x	as long as short
Bitget CCUSDT	+0.0100%	4h	0.1181	+0.048%	$926K	$788K	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	0.1181	+0.031%	—	$6.6M	—	as long as short
Backpack CC_USDC_PERP	+0.0100%	1h	0.1180	−0.003%	$15K	$22K	10x	as long as short
Variational Omni CC	+0.0100%	4h	0.1179	−0.110%	$600K	$55K	—	as long as short
GRVT CC_USDT_Perp	+0.0100%	4h	0.1177	−0.259%	$81K	$2.4M	10x	as long as short
Derive CC-PERP	+0.0100%	1h	0.1179	−0.106%	$6K	$36K	6.7x	as long as short
Hyperliquid CC	+0.0331%	1h	0.1183	+0.209%	$5.5M	$1.4M	3x	as long as short
BloFin CC-USDT	+0.0340%	4h	0.1179	−0.113%	$595K	$99K	75x	as long as short
GMX CC/USD [WBTC.b-USDC]long	L +0.0449% / S −0.0241%	1h	0.1180	long leg	$44K	—	50x
Lighter CC	+0.1072%	1h	0.1186	+0.447%	$245K	$160K	5x	as long as short