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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 05:00 UTC−0.0119%/8h= −13.0% APRpaid last 24h −0.019%
Price spread now: GMX against OKX+0.029%7-day average +0.038% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on OKXShort on GMX
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.013%+$1 on $10k
Price spread, last 4 days (all we have)+0.048%+$5 · spread now +0.029%, 7d avg +0.038%
Together, before fees+0.061%+$6 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.038%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOKX ETH-USDT-SWAP2,735.50.0075pay 0.0075% / 8h3h 32m$1.67B$10.74B100x
ShortGMX ETH/USD [ETH-USDC]2,736.3L −0.0010% / S +0.0043%pay 0.0005% / 1h32m 12s$11.9M—200x

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

Funding earned
−$24.9
Price spread: +0.029% → +0.038%
−$0.9
Slippage, 4 orders
no order book: not counted
Fee OKX: 5 bp × 2 orders
−$10
Fee GMX: 6 bp × 2 orders
−$12
Net
−$47.8
Costs to cover
0.220%
Break-even
never at this rate
Slippage unknown: OKX: live order book, 2 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
LegHalf-spread$10k$100k$1M$5M
Buy OKX live order book, 2 min ago0.02 bp5.0 bp −$55.0 bp −$505.3 bp −$5297.7 bp −$3,847
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.

ETH on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl ETH−0.0447%43m2,737+0.054%$297K$5.6M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,736.8+0.048%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]shortL −0.0010% / S +0.0043%1h2,736.3+0.029%$11.9M—200x
Phoenix ETH−0.0006%1h2,737.1+0.058%$822K$2.9M25xas long as short
HTX ETH-USDT−0.0001%8h2,735.4−0.004%$1.06B$1.20B200xas long as short
dYdX ETH-USD+0.0004%1h2,737.1+0.058%$10.8M$42.0M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,736.3+0.030%$28.1M—200xas long as short
Bullet ETH-USD+0.0028%1h2,735.8+0.011%$179K$1.7M20xas long as short
BingX ETH-USDT+0.0032%8h2,735.8+0.011%—$1.15B—as long as short
Bybit ETHUSDT+0.0041%8h2,735.4−0.005%$2.37B$4.37B150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
ApeX Omni ETHUSDT+0.0044%1h2,737.4+0.069%$8.7M$31.2M100xas long as short
01 Exchange ETHUSD+0.0048%1h2,736.5+0.037%$187K$816K50xas long as short
Deribit ETH-PERPETUAL+0.0064%1h2,737+0.056%$259.5M$200.1M50xas long as short
KuCoin ETHUSDTM+0.0067%8h2,735.8+0.011%$381.2M$573.8M100xas long as short
OKX ETH-USDT-SWAPlong+0.0075%8h2,735.5long leg$1.67B$10.74B100x
Phemex ETHUSDT+0.0078%8h2,735.8+0.012%$265.2M$65.1M150xas long as short
SunX ETH-USDT+0.0084%8h2,734.8−0.027%$960K$11.2M100xas long as short
Aster ETHUSDT+0.0084%8h2,735.7+0.008%$251.3M$842.2M200xas long as short
MEXC ETH_USDT+0.0092%8h2,735.7+0.005%$1.55B$2.56B500xas long as short
Binance ETHUSDT+0.0093%8h2,735.8+0.010%$6.36B$15.89B150xas long as short
Lighter ETH+0.0096%1h2,736.1+0.022%$112.9M$432.2M50xas long as short
Lighter RH ETH+0.0096%1h2,737.4+0.068%$23.4M$104.2M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,737.5+0.074%—$30.9M500xas long as short
Aevo ETH-PERP+0.0096%1h2,734.5−0.036%$4.9M$155K20xas long as short
Injective ETH/USDC PERP+0.0096%1h2,737.8+0.084%$117K$22.5M52xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,740+0.164%$15.6M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,736.1+0.022%$505K$3.3M50xas long as short
SoDEX ETH-USD+0.0100%1h2,735.8+0.011%$54.5M$187.7M40xas long as short
Nado ETH-PERP+0.0100%1h2,737.3+0.067%$13.8M$104.5M50xas long as short
Hyperliquid ETH+0.0100%1h2,738.3+0.102%$3.11B$2.04B25xas long as short
Pacifica ETH+0.0100%1h2,737.8+0.084%$32.1M$333.7M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,736.9+0.051%$2.7M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,736.8+0.048%$1.5M$15.9M25xas long as short
Bulk ETH-USD+0.0100%1h2,736.4+0.034%$170.3M$327.0M25xas long as short
Gate ETH_USDT+0.0100%8h2,735.9+0.015%$3.34B$8.88B200xas long as short
Bitget ETHUSDT+0.0100%8h2,735.9+0.016%$2.07B$2.72B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,736.6+0.039%$15.2M$40.8M50xas long as short
Variational Omni ETH+0.0100%8h2,735.4−0.005%$133.6M$322.1M—as long as short
edgeX ETHUSDC+0.0100%4h2,735.7+0.007%$184.0M$670.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,737.6+0.076%$159.3M$86.9M50xas long as short
StandX ETH-USD+0.0100%1h2,737.4+0.069%$21.1M$69.2M40xas long as short
Vest ETH-PERP+0.0100%1h2,737.1+0.058%—$844K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,737.5+0.073%$11.2M$9.2M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,737+0.056%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,737.8+0.084%$41.3M$29.9M15xas long as short
Extended ETH-USD+0.0104%1h2,735.1−0.014%$30.6M$73.0M50xas long as short
RISEx ETH/USDC+0.0107%1h2,736.7+0.042%$5.6M$11.7M25xas long as short
Aftermath Perps ETHUSD+0.0110%1h2,737.3+0.068%$30K$20K20xas long as short
Coinbase International ETH-PERP-INTX+0.0120%1h2,736.4+0.031%$51.0M$4.28B50xas long as short
Kalshi KXETHPERP+0.0138%8h2,737.7+0.080%$6.5M$683.4M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0153%1h2,736.2+0.027%$83.4M$315.1M100xas long as short
Orderly PERP_ETH_USDC+0.0197%8h2,738.3+0.102%$32.2M$11.7M100xas long as short
Reya ETHRUSDPERP+0.0211%1h2,735.1−0.014%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0264%1h2,737.7+0.080%$245K$1.4M20xas long as short
BloFin ETH-USDT+0.0372%8h2,736.6+0.038%$283.4M$175.3M150xas long as short