Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0353%/8h= −38.7% APRpaid last 24h −0.130%

Price spread now: MEXC against GMX−0.076%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 MEXC

What this pair did over the last

the charts below follow

Funding, last 4 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 −$11 a day on $10k at the current rate, and MEXC is 0.076% cheaper against GMX than usual: you would sell low and buy high (−$8 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]	0.1198	L +0.0453% / S −0.0241%	pay 0.0057% / 1h	22m 58s	$45K	—	50x
Short	MEXC CC_USDT	0.1197	0.0100	get 0.0050% / 4h	3h 22m	$1.9M	$363K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.076%Rate

Funding earned: −$74.19
Price spread: −0.076% → 0.000%: −$7.6
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$97.79
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; MEXC: live order book, 8 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 MEXC live order book, 8 min ago	0.42 bp	5.5 bp −$6	57.3 bp −$573	259.9 bp −$26.0K	800.6 bp −$400.3K

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	+0.0033%	1h	0.1180	−1.479%	$402	$3K	5.5x	as long as short
Paradex CC-USD-PERP	+0.0099%	8h	0.1197	−0.085%	$1K	—	5x	as long as short
Aster CCUSDT	+0.0100%	4h	0.1197	−0.094%	$35K	$27K	20x	as long as short
Binance CCUSDT	+0.0100%	4h	0.1197	−0.076%	$11.3M	$12.0M	75x	as long as short
Bybit CCUSDT	+0.0100%	4h	0.1197	−0.059%	$11.0M	$3.7M	25x	as long as short
OKX CC-USDT-SWAP	+0.0100%	4h	0.1198	+0.008%	$2.6M	$3.0M	20x	as long as short
Gate CC_USDT	+0.0100%	4h	0.1196	−0.134%	$367K	$170K	50x	as long as short
MEXC CC_USDTshort	+0.0100%	4h	0.1197	−0.076%	$1.9M	$363K	100x
KuCoin CCUSDTM	+0.0100%	4h	0.1197	−0.101%	$494K	$99K	50x	as long as short
Bitget CCUSDT	+0.0100%	4h	0.1197	−0.101%	$933K	$727K	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	0.1197	−0.026%	—	$6.6M	—	as long as short
Backpack CC_USDC_PERP	+0.0100%	1h	0.1197	−0.051%	$16K	$19K	10x	as long as short
Variational Omni CC	+0.0100%	4h	0.1192	−0.475%	$608K	$55K	—	as long as short
GRVT CC_USDT_Perp	+0.0100%	4h	0.1194	−0.294%	$84K	$3.1M	10x	as long as short
Derive CC-PERP	+0.0100%	1h	0.1190	−0.638%	$6K	$33K	6.7x	as long as short
BloFin CC-USDT	+0.0340%	4h	0.1193	−0.368%	$608K	$102K	75x	as long as short
GMX CC/USD [WBTC.b-USDC]long	L +0.0453% / S −0.0241%	1h	0.1198	long leg	$45K	—	50x
Hyperliquid CC	+0.0588%	1h	0.1200	+0.166%	$5.6M	$1.3M	3x	as long as short
Lighter CC	+0.1056%	1h	0.1202	+0.400%	$256K	$169K	5x	as long as short