Funding arb · Price arb /

FET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0058%/8h= +6.3% APRpaid last 24h +0.020%

Price spread now: GMX against BloFin−0.048%7-day average — · you buy dearer than you sell

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

Long on BloFin 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 0.048% cheaper against BloFin than usual: you would sell low and buy high (spread −0.048% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 2.8 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin FET-USDT	0.2058	0.0220	pay 0.0220% / 8h	5h 15m	$1.7M	$3.0M	100x
Short	GMX FET/USD [ETH-USDC]	0.2057	L +0.0202% / S −0.0278%	get 0.0035% / 1h	15m 03s	$14K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BloFin. 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 BloFinbpFee GMXbpOrdersPrice spread, now −0.048%Rate

Funding earned: $12.13
Price spread: −0.048% → 0.000%: −$4.81
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$16.68
Costs to cover: 0.240%
Break-even: 16.6 days

Slippage unknown: BloFin: 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 BloFin live order book, 3 min ago	7.28 bp	17.1 bp −$17	26.3 bp −$263	116.6 bp −$11.7K	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.

FET on 20 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
Deribit FET_USDC-PERPETUAL	−0.3626%	1h	0.2056	−0.097%	$39K	$294K	10x	as long as short
Coinbase International FET-PERP-INTX	−0.0872%	1h	0.2057	−0.049%	$151K	$232K	50x	as long as short
gTrade (Gains Network) FET/USD	L +0.0006% / S −0.0015%	1h	0.2056	−0.098%	$23K	—	150x	as long as short
Injective FET/USDC PERP	+0.0033%	1h	0.2010	−2.332%	$3K	$166K	12x	as long as short
Aster FETUSDT	+0.0100%	8h	0.2058	−0.018%	$215K	$771K	10x	as long as short
Binance FETUSDT	+0.0100%	8h	0.2057	−0.059%	$32.0M	$112.3M	75x	as long as short
Gate FET_USDT	+0.0100%	8h	0.2056	−0.097%	$2.8M	$12.5M	50x	as long as short
MEXC FET_USDT	+0.0100%	8h	0.2056	−0.097%	$30.8M	$24.3M	200x	as long as short
KuCoin FETUSDTM	+0.0100%	8h	0.2057	−0.049%	$10.8M	$18.9M	50x	as long as short
Variational Omni FET	+0.0100%	8h	0.2060	+0.102%	$345K	$424K	—	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_FET_USDC	+0.0100%	8h	0.2055	−0.146%	$39K	$7K	10x	as long as short
Extended FET-USD	+0.0104%	1h	0.2056	−0.086%	$34K	$252K	10x	as long as short
Kraken Futures PF_FETUSD	+0.0113%	1h	0.2058	+0.015%	$1.0M	$2.2M	50x	as long as short
GMX FET/USD [ETH-USDC]short	L +0.0202% / S −0.0278%	1h	0.2057	−0.048%	$14K	—	100x
BloFin FET-USDTlong	+0.0220%	8h	0.2058	long leg	$1.7M	$3.0M	100x
OKX FET-USDT-SWAP	+0.0252%	4h	0.2057	−0.049%	$1.0M	$8.3M	20x	as long as short
BingX FET-USDT	+0.0385%	8h	0.2057	−0.049%	—	$5.9M	—	as long as short
Bitget FETUSDT	+0.0395%	8h	0.2058	0.000%	$16.7M	$11.8M	75x	as long as short
Hyperliquid FET	+0.0534%	1h	0.2058	+0.010%	$9.0M	$8.4M	5x	as long as short
Phoenix FET	+0.0669%	1h	0.2061	+0.136%	$36K	$39K	5x	as long as short