Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0158%/8h= +17.3% APRpaid last 24h +0.037%

Price spread now: GMX against Paradex−0.047%7-day average — · you buy dearer than you sell

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

Long on Paradex 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—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. GMX is 0.047% cheaper against Paradex than usual: you would sell low and buy high (spread −0.047% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 24 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex CC-USD-PERP	0.1175	0.0083	pay 0.0083% / 8h	2h 37m	$1K	—	5x
Short	GMX CC/USD [WBTC.b-USDC]	0.1174	L +0.0450% / S −0.0241%	get 0.0030% / 1h	37m 36s	$44K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Paradex. 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 ParadexbpFee GMXbpOrdersPrice spread, now −0.047%Rate

Funding earned: $33.21
Price spread: −0.047% → 0.000%: −$4.7
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee GMX: 6 bp × 2 orders: −$12
Net: $12.51
Costs to cover: 0.160%
Break-even: 4.4 days

Slippage unknown: Paradex: no order-book sample; 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 Paradex no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Paradex and 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	−0.0502%	4h	0.1174	−0.064%	$1.8M	$332K	100x	as long as short
Bybit CCUSDT	−0.0479%	4h	0.1175	−0.013%	$10.8M	$3.8M	25x	as long as short
Injective CC/USDC PERP	+0.0033%	1h	0.1180	+0.421%	$402	$3K	5.5x	as long as short
Paradex CC-USD-PERPlong	+0.0083%	8h	0.1175	long leg	$1K	—	5x
Hyperliquid CC	+0.0100%	1h	0.1177	+0.174%	$5.5M	$1.3M	3x	as long as short
Aster CCUSDT	+0.0100%	4h	0.1175	−0.020%	$35K	$32K	20x	as long as short
Binance CCUSDT	+0.0100%	4h	0.1175	−0.021%	$11.1M	$11.8M	75x	as long as short
OKX CC-USDT-SWAP	+0.0100%	4h	0.1175	+0.004%	$2.6M	$3.1M	20x	as long as short
Gate CC_USDT	+0.0100%	4h	0.1174	−0.124%	$364K	$206K	50x	as long as short
KuCoin CCUSDTM	+0.0100%	4h	0.1176	+0.055%	$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	+0.064%	$920K	$770K	20x	as long as short
BingX CC-USDT	+0.0100%	4h	0.1175	−0.030%	—	$6.6M	—	as long as short
Backpack CC_USDC_PERP	+0.0100%	1h	0.1174	−0.090%	$15K	$23K	10x	as long as short
Variational Omni CC	+0.0100%	4h	0.1175	−0.033%	$599K	$56K	—	as long as short
GRVT CC_USDT_Perp	+0.0100%	4h	0.1173	−0.134%	$81K	$2.6M	10x	as long as short
Derive CC-PERP	+0.0100%	1h	0.1173	−0.188%	$6K	$33K	6.7x	as long as short
BloFin CC-USDT	+0.0340%	4h	0.1172	−0.294%	$593K	$98K	75x	as long as short
GMX CC/USD [WBTC.b-USDC]short	L +0.0450% / S −0.0241%	1h	0.1174	−0.047%	$44K	—	50x
Lighter CC	+0.0624%	1h	0.1181	+0.523%	$253K	$170K	5x	as long as short