Funding arb · Price arb /

FET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0049%/8h= +5.4% APRpaid last 24h −0.016%

Price spread now: OKX against GMX+0.144%7-day average — · you sell dearer than you buy

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

Long on GMX Short on OKX

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

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and OKX is 0.144% dearer against GMX than usual: you sell high and buy low: +$14 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX FET/USD [ETH-USDC]	0.2056	L +0.0202% / S −0.0278%	pay 0.0025% / 1h	11m 07s	$14K	—	100x
Short	OKX FET-USDT-SWAP	0.2059	0.0251	get 0.0126% / 4h	3h 11m	$1.0M	$8.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against GMX. 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 GMXbpFee OKXbpOrdersPrice spread, now +0.144%Rate

Funding earned: $10.39
Price spread: +0.144% → 0.000%: $14.4
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: $2.79
Costs to cover: 0.220%
Break-even: 5.1 days

Slippage unknown: GMX: no order-book sample; OKX: live order book, 2 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 OKX live order book, 2 min ago	4.85 bp	22.6 bp −$23	66.5 bp −$665	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-PERPETUAL	−0.4108%	1h	0.2056	−0.002%	$30K	$223K	10x	as long as short
Kraken Futures PF_FETUSD	−0.1257%	1h	0.2058	+0.120%	$1.0M	$2.2M	50x	as long as short
Coinbase International FET-PERP-INTX	−0.0704%	1h	0.2066	+0.484%	$152K	$216K	50x	as long as short
gTrade (Gains Network) FET/USD	L +0.0006% / S −0.0022%	1h	0.2057	+0.068%	$21K	—	150x	as long as short
Injective FET/USDC PERP	+0.0033%	1h	0.2010	−2.239%	$3K	$166K	12x	as long as short
Aster FETUSDT	+0.0100%	8h	0.2057	+0.023%	$341K	$544K	10x	as long as short
Binance FETUSDT	+0.0100%	8h	0.2056	+0.004%	$32.1M	$110.6M	75x	as long as short
Gate FET_USDT	+0.0100%	8h	0.2056	−0.002%	$2.8M	$12.4M	50x	as long as short
MEXC FET_USDT	+0.0100%	8h	0.2055	−0.051%	$34.6M	$25.1M	200x	as long as short
KuCoin FETUSDTM	+0.0100%	8h	0.2057	+0.047%	$10.9M	$19.2M	50x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni FET	+0.0100%	8h	0.2056	+0.006%	$361K	$400K	—	as long as short
Orderly PERP_FET_USDC	+0.0100%	8h	0.2055	−0.051%	$38K	$7K	10x	as long as short
Extended FET-USD	+0.0104%	1h	0.2055	−0.031%	$34K	$244K	10x	as long as short
GMX FET/USD [ETH-USDC]long	L +0.0202% / S −0.0278%	1h	0.2056	long leg	$14K	—	100x
BloFin FET-USDT	+0.0220%	8h	0.2058	+0.095%	$1.7M	$2.7M	100x	as long as short
OKX FET-USDT-SWAPshort	+0.0251%	4h	0.2059	+0.144%	$1.0M	$8.2M	20x
BingX FET-USDT	+0.0284%	8h	0.2057	+0.047%	—	$5.7M	—	as long as short
Bitget FETUSDT	+0.0293%	8h	0.2059	+0.144%	$16.6M	$11.5M	75x	as long as short
Hyperliquid FET	+0.0394%	1h	0.2058	+0.110%	$9.2M	$8.3M	5x	as long as short
Phoenix FET	+0.0467%	1h	0.2059	+0.134%	$36K	$45K	5x	as long as short