Funding arb · Price arb /

CVX

all CVX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0094%/8h= +10.3% APRpaid last 24h +0.026%

Price spread now: GMX against Bybit−0.318%7-day average +0.062% · you buy dearer than you sell

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

Long on Bybit Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.108%+$11 on $10k

Price spread, last 4 days (all we have)+0.376%+$38 · spread now −0.318%, 7d avg +0.062%

Together, before fees+0.484%+$48 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.381% cheaper against Bybit than usual: you would sell low and buy high (spread −0.318% now, against its 7-day average of +0.062%). If the spread goes back, that is −$38 on $10k: about 13 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CVXUSDT	2.0220	0.0100	pay 0.0050% / 4h	2h 38m	$1.7M	$753K	75x
Short	GMX CVX/USD [ETH-USDC]	2.0156	L +0.0485% / S −0.0194%	get 0.0024% / 1h	38m 04s	$166K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BybitbpFee GMXbpOrdersPrice spread, now −0.318%Rate

Funding earned: $19.8
Price spread: −0.318% → +0.062%: −$38.05
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: −$41.26
Costs to cover: 0.230%
Break-even: 21.6 days

Slippage unknown: Bybit: live order book, 3 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 Bybit live order book, 3 min ago	5.42 bp	32.0 bp −$32	273.4 bp −$2,734	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.

CVX on 13 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 CVX/USDC PERP	+0.0033%	1h	1.9790	−2.127%	—	$33K	5.5x	as long as short
Binance CVXUSDT	+0.0100%	4h	2.0196	−0.119%	$1.7M	$2.6M	75x	as long as short
Bybit CVXUSDTlong	+0.0100%	4h	2.0220	long leg	$1.7M	$753K	75x
OKX CVX-USDT-SWAP	+0.0100%	4h	2.0170	−0.247%	$244K	$314K	10x	as long as short
Gate CVX_USDT	+0.0100%	8h	2.0170	−0.247%	$68K	$23K	25x	as long as short
MEXC CVX_USDT	+0.0100%	4h	2.0180	−0.198%	$2.0M	$503K	20x	as long as short
KuCoin CVXUSDTM	+0.0100%	4h	2.0200	−0.099%	$801K	$71K	20x	as long as short
Bitget CVXUSDT	+0.0100%	4h	2.0190	−0.148%	$610K	$129K	25x	as long as short
BingX CVX-USDT	+0.0100%	4h	2.0210	−0.049%	—	$1.6M	—	as long as short
Variational Omni CVX	+0.0100%	4h	2.0333	+0.560%	$5K	$2K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin CVX-USDT	+0.0340%	4h	2.0170	−0.247%	$81K	$149K	75x	as long as short
GMX CVX/USD [ETH-USDC]short	L +0.0485% / S −0.0194%	1h	2.0156	−0.318%	$166K	—	100x
Kraken Futures PF_CVXUSD	+0.6158%	1h	2.0247	+0.136%	$117K	$100K	10x	as long as short