Funding arb · Price arb /

CC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0139%/8h= +15.2% APRpaid last 24h +0.034%

Price spread now: GMX against OKX−0.035%7-day average — · you buy dearer than you sell

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

Long on OKX Short on GMX

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

Funding pays, the price is against you. GMX is 0.035% cheaper against OKX than usual: you would sell low and buy high (spread −0.035% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 20 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CC-USDT-SWAP	0.1171	0.0100	pay 0.0050% / 4h	57m 32s	$2.5M	$3.4M	20x
Short	GMX CC/USD [WBTC.b-USDC]	0.1171	L +0.0443% / S −0.0239%	get 0.0030% / 1h	57m 32s	$44K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against OKX. 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 OKXbpFee GMXbpOrdersPrice spread, now −0.035%Rate

Funding earned: $29.1
Price spread: −0.035% → 0.000%: −$3.5
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $3.6
Costs to cover: 0.220%
Break-even: 6.1 days

Slippage unknown: OKX: live order book, 5 min ago; GMX: no order-book sample. 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 OKX live order book, 5 min ago	0.86 bp	19.3 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	−0.3320%	1h	0.1150	−1.793%	$6K	$96	5.5x	as long as short
Paradex CC-USD-PERP	+0.0096%	8h	0.1170	−0.056%	$1K	—	5x	as long as short
Aster CCUSDT	+0.0100%	4h	0.1170	−0.074%	$35K	$39K	20x	as long as short
Binance CCUSDT	+0.0100%	4h	0.1170	−0.085%	$11.0M	$11.1M	75x	as long as short
Bybit CCUSDT	+0.0100%	4h	0.1169	−0.137%	$10.6M	$3.7M	25x	as long as short
OKX CC-USDT-SWAPlong	+0.0100%	4h	0.1171	long leg	$2.5M	$3.4M	20x
Gate CC_USDT	+0.0100%	4h	0.1169	−0.188%	$363K	$213K	50x	as long as short
MEXC CC_USDT	+0.0100%	4h	0.1170	−0.111%	$1.6M	$310K	100x	as long as short
KuCoin CCUSDTM	+0.0100%	4h	0.1170	−0.060%	$496K	$115K	50x	as long as short
Bitget CCUSDT	+0.0100%	4h	0.1170	−0.051%	$933K	$787K	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	0.1171	−0.043%	—	$6.6M	—	as long as short
Variational Omni CC	+0.0100%	4h	0.1163	−0.697%	$579K	$43K	—	as long as short
GRVT CC_USDT_Perp	+0.0100%	4h	0.1164	−0.622%	$79K	$2.3M	10x	as long as short
Derive CC-PERP	+0.0100%	1h	0.1169	−0.156%	$6K	$35K	6.7x	as long as short
BloFin CC-USDT	+0.0340%	4h	0.1164	−0.555%	$585K	$105K	75x	as long as short
GMX CC/USD [WBTC.b-USDC]short	L +0.0443% / S −0.0239%	1h	0.1171	−0.035%	$44K	—	50x
Backpack CC_USDC_PERP	+0.0540%	1h	0.1171	−0.043%	$15K	$22K	10x	as long as short
Hyperliquid CC	+0.0784%	1h	0.1172	+0.125%	$5.5M	$1.3M	3x	as long as short
Lighter CC	+0.1416%	1h	0.1174	+0.282%	$235K	$153K	5x	as long as short