Funding arb · Price arb /

CC

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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: OKX against GMX+0.043%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on GMX Short on OKX

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

The price spread pays, funding is against you. OKX is 0.043% dearer against GMX than usual: you sell high and buy low (spread +0.043% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 10 hours.

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	38m 25s	$44K	—	50x
Short	OKX CC-USDT-SWAP	0.1175	0.0100	get 0.0050% / 4h	2h 38m	$2.5M	$3.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$73.42
Price spread: +0.043% → 0.000%: $4.26
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$91.16
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; OKX: live order book, 4 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 OKX live order book, 4 min ago	1.70 bp	29.3 bp −$29	doesn't fit	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
Bybit CCUSDT	−0.0503%	4h	0.1174	0.000%	$10.8M	$3.8M	25x	as long as short
MEXC CC_USDT	−0.0484%	4h	0.1173	−0.094%	$1.8M	$332K	100x	as long as short
Injective CC/USDC PERP	+0.0033%	1h	0.1180	+0.468%	$402	$3K	5.5x	as long as short
Paradex CC-USD-PERP	+0.0083%	8h	0.1174	−0.079%	$1K	—	5x	as long as short
Hyperliquid CC	+0.0100%	1h	0.1176	+0.136%	$5.5M	$1.3M	3x	as long as short
Aster CCUSDT	+0.0100%	4h	0.1174	−0.007%	$35K	$32K	20x	as long as short
Binance CCUSDT	+0.0100%	4h	0.1173	−0.094%	$11.0M	$11.8M	75x	as long as short
OKX CC-USDT-SWAPshort	+0.0100%	4h	0.1175	+0.043%	$2.5M	$3.1M	20x
Gate CC_USDT	+0.0100%	4h	0.1173	−0.111%	$364K	$206K	50x	as long as short
KuCoin CCUSDTM	+0.0100%	4h	0.1175	+0.068%	$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 CCUSDT	+0.0100%	4h	0.1176	+0.085%	$920K	$770K	20x	as long as short
BingX CC-USDT	+0.0100%	4h	0.1174	−0.043%	—	$6.6M	—	as long as short
Backpack CC_USDC_PERP	+0.0100%	1h	0.1173	−0.085%	$15K	$22K	10x	as long as short
Variational Omni CC	+0.0100%	4h	0.1175	+0.014%	$599K	$56K	—	as long as short
GRVT CC_USDT_Perp	+0.0100%	4h	0.1176	+0.136%	$81K	$2.6M	10x	as long as short
Derive CC-PERP	+0.0100%	1h	0.1173	−0.130%	$6K	$33K	6.7x	as long as short
BloFin CC-USDT	+0.0340%	4h	0.1172	−0.247%	$593K	$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	+0.0648%	1h	0.1179	+0.358%	$252K	$170K	5x	as long as short