Funding arb · Price arb /

FET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0262%/8h= +28.7% APRpaid last 24h +0.065%

Price spread now: GMX against Gate−0.034%7-day average — · you buy dearer than you sell

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

Long on Gate 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 0.034% cheaper against Gate than usual: you would sell low and buy high (spread −0.034% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 10 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate FET_USDT	0.2010	0.0016	pay 0.0016% / 8h	1h 55m	$2.7M	$11.8M	50x
Short	GMX FET/USD [ETH-USDC]	0.2009	L +0.0201% / S −0.0278%	get 0.0035% / 1h	55m 35s	$13K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Gate. 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 GatebpFee GMXbpOrdersPrice spread, now −0.034%Rate

Funding earned: $54.97
Price spread: −0.034% → 0.000%: −$3.43
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GMX: 6 bp × 2 orders: −$12
Net: $24.54
Costs to cover: 0.270%
Break-even: 3.9 days

Slippage unknown: Gate: 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 Gate live order book, 3 min ago	4.99 bp	14.8 bp −$15	43.4 bp −$434	62.7 bp −$6,271	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	−0.4701%	1h	0.2010	0.000%	$27K	$200K	10x	as long as short
Coinbase International FET-PERP-INTX	−0.0744%	1h	0.2010	0.000%	$158K	$190K	50x	as long as short
gTrade (Gains Network) FET/USD	L +0.0006% / S −0.0012%	1h	0.2011	+0.058%	$32K	—	150x	as long as short
Gate FET_USDTlong	+0.0016%	8h	0.2010	long leg	$2.7M	$11.8M	50x
Hyperliquid FET	+0.0100%	1h	0.2015	+0.234%	$8.9M	$7.8M	5x	as long as short
Aster FETUSDT	+0.0100%	8h	0.2014	+0.187%	$341K	$533K	10x	as long as short
Binance FETUSDT	+0.0100%	8h	0.2014	+0.181%	$31.4M	$107.2M	75x	as long as short
MEXC FET_USDT	+0.0100%	8h	0.2013	+0.149%	$34.7M	$25.0M	200x	as long as short
KuCoin FETUSDTM	+0.0100%	8h	0.2012	+0.100%	$10.4M	$19.1M	50x	as long as short
Variational Omni FET	+0.0100%	8h	0.1999	−0.526%	$271K	$316K	—	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	0.2008	−0.100%	$37K	$5K	10x	as long as short
Extended FET-USD	+0.0104%	1h	0.2012	+0.083%	$33K	$189K	10x	as long as short
OKX FET-USDT-SWAP	+0.0136%	4h	0.2017	+0.348%	$856K	$7.5M	20x	as long as short
GMX FET/USD [ETH-USDC]short	L +0.0201% / S −0.0278%	1h	0.2009	−0.034%	$13K	—	100x
BloFin FET-USDT	+0.0220%	8h	0.2009	−0.050%	$1.7M	$2.6M	100x	as long as short
BingX FET-USDT	+0.0247%	8h	0.2013	+0.149%	—	$5.6M	—	as long as short
Bitget FETUSDT	+0.0273%	8h	0.2016	+0.299%	$16.4M	$11.3M	75x	as long as short
Kraken Futures PF_FETUSD	+0.0360%	1h	0.2013	+0.165%	$1.0M	$2.2M	50x	as long as short
Phoenix FET	+0.0476%	1h	0.2006	−0.184%	$27K	$36K	5x	as long as short
Injective FET/USDC PERP	+0.0553%	1h	0.2010	0.000%	$3K	$166K	12x	as long as short