Funding you earn now, next payment 04:00 UTC−0.3904%/8h= −427.5% APRnext payment −$4.88 per $10,000 · paid last 24h −0.582%
Price spread now: Deribit against GMX+0.150%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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
The price spread pays, funding is against you. Deribit is 0.150% dearer against GMX than usual: you sell high and buy low (spread +0.150% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$117 a day in funding at the current rate, which eats that in about 3 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX FET/USD [ETH-USDC] | 0.2013 | L +0.0201% / S −0.0278% | pay 0.0025% / 1h | 27m 17s | $13K | — | 100x |
| Short | Deribit FET_USDC-PERPETUAL | 0.2016 | −0.3703 | pay 0.0463% / 1h | 27m 17s | $38K | $307K | 10x |
GMX FET/USD [ETH-USDC]
Deribit FET_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against GMX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$819.8
- Price spread: +0.150% → 0.000%
- $14.95
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$823.85
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Deribit: live order book, 31 min ago. 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 GMX no order-book sample | — | — | — | — | — |
| Sell Deribit live order book, 31 min ago | 9.75 bp | 13.3 bp −$13 | doesn't fit | doesn't fit | doesn't fit |
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-PERPETUALshort | −0.3703% | 1h | 0.2016 | +0.150% | $38K | $307K | 10x | |
| Coinbase International FET-PERP-INTX | −0.0984% | 1h | 0.2017 | +0.199% | $146K | $239K | 50x | as long as short |
| Kraken Futures PF_FETUSD | −0.0455% | 1h | 0.2019 | +0.317% | $997K | $2.2M | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0011% | 1h | 0.2014 | +0.026% | $33K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2010 | −0.149% | $3K | $166K | 12x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2015 | +0.089% | $200K | $805K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2017 | +0.223% | $30.9M | $113.9M | 75x | as long as short |
| Gate FET_USDT | +0.0100% | 8h | 0.2014 | +0.050% | $2.7M | $12.5M | 50x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2016 | +0.150% | $30.1M | $24.5M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2017 | +0.199% | $10.6M | $18.9M | 50x | as long as short |
Coinbase International FET-PERP-INTX
Kraken Futures PF_FETUSD
gTrade (Gains Network) FET/USD
Injective FET/USDC PERP
Aster FETUSDT
Binance FETUSDT
Gate FET_USDT
MEXC FET_USDT
KuCoin FETUSDTMShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni FET | +0.0100% | 8h | 0.2028 | +0.753% | $339K | $418K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2015 | +0.100% | $38K | $7K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2015 | +0.116% | $33K | $252K | 10x | as long as short |
| Hyperliquid FET | +0.0153% | 1h | 0.2017 | +0.179% | $8.8M | $8.5M | 5x | as long as short |
| GMX FET/USD [ETH-USDC]long | L +0.0201% / S −0.0278% | 1h | 0.2013 | long leg | $13K | — | 100x | |
| BloFin FET-USDT | +0.0220% | 8h | 0.2019 | +0.299% | $1.7M | $3.1M | 100x | as long as short |
| OKX FET-USDT-SWAP | +0.0226% | 4h | 0.2017 | +0.199% | $1.0M | $8.2M | 20x | as long as short |
| BingX FET-USDT | +0.0281% | 8h | 0.2016 | +0.150% | — | $6.0M | — | as long as short |
| Bitget FETUSDT | +0.0292% | 8h | 0.2018 | +0.249% | $16.3M | $11.9M | 75x | as long as short |
| Phoenix FET | +0.0505% | 1h | 0.2032 | +0.954% | $35K | $39K | 5x | as long as short |
Variational Omni FET
Orderly PERP_FET_USDC
Extended FET-USD
Hyperliquid FET
BloFin FET-USDT
OKX FET-USDT-SWAP
BingX FET-USDT
Bitget FETUSDT
Phoenix FET