Funding arb · Price arb /

FET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0178%/8h= +19.5% APRpaid last 24h +0.057%

Price spread now: GMX against MEXC−0.186%7-day average — · you buy dearer than you sell

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

Long on MEXC 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 0.186% cheaper against MEXC than usual: you would sell low and buy high (spread −0.186% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$19 on $10k: about 3.5 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC FET_USDT	0.2045	0.0100	pay 0.0100% / 8h	0m 38s	$34.5M	$25.1M	200x
Short	GMX FET/USD [ETH-USDC]	0.2041	L +0.0201% / S −0.0278%	get 0.0035% / 1h	0m 38s	$14K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against MEXC. 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 MEXCbpFee GMXbpOrdersPrice spread, now −0.186%Rate

Funding earned: $37.33
Price spread: −0.186% → 0.000%: −$18.63
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: $6.7
Costs to cover: 0.120%
Break-even: 5.7 days

Slippage unknown: MEXC: 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 MEXC live order book, 3 min ago	2.45 bp	3.6 bp −$4	9.7 bp −$97	50.2 bp −$5,016	174.8 bp −$87.4K
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	−0.2191%	1h	0.2043	−0.098%	$29K	$202K	10x	as long as short
Coinbase International FET-PERP-INTX	−0.0728%	1h	0.2043	−0.098%	$152K	$207K	50x	as long as short
Kraken Futures PF_FETUSD	−0.0477%	1h	0.2046	+0.067%	$999K	$2.2M	50x	as long as short
gTrade (Gains Network) FET/USD	L +0.0006% / S −0.0013%	1h	0.2042	−0.164%	$32K	—	150x	as long as short
Injective FET/USDC PERP	+0.0033%	1h	0.2010	−1.711%	$3K	$166K	12x	as long as short
Gate FET_USDT	+0.0066%	8h	0.2048	+0.147%	$2.8M	$12.2M	50x	as long as short
Aster FETUSDT	+0.0100%	8h	0.2047	+0.115%	$340K	$544K	10x	as long as short
Binance FETUSDT	+0.0100%	8h	0.2051	+0.287%	$32.0M	$109.4M	75x	as long as short
MEXC FET_USDTlong	+0.0100%	8h	0.2045	long leg	$34.5M	$25.1M	200x
KuCoin FETUSDTM	+0.0100%	8h	0.2046	+0.049%	$10.8M	$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	0.2042	−0.136%	$359K	$399K	—	as long as short
Orderly PERP_FET_USDC	+0.0100%	8h	0.2041	−0.196%	$38K	$6K	10x	as long as short
Extended FET-USD	+0.0104%	1h	0.2048	+0.135%	$33K	$191K	10x	as long as short
GMX FET/USD [ETH-USDC]short	L +0.0201% / S −0.0278%	1h	0.2041	−0.186%	$14K	—	100x
BloFin FET-USDT	+0.0220%	8h	0.2045	0.000%	$1.7M	$2.7M	100x	as long as short
BingX FET-USDT	+0.0286%	8h	0.2049	+0.196%	—	$5.7M	—	as long as short
OKX FET-USDT-SWAP	+0.0293%	4h	0.2053	+0.391%	$999K	$8.0M	20x	as long as short
Bitget FETUSDT	+0.0306%	8h	0.2051	+0.293%	$16.5M	$11.6M	75x	as long as short
Hyperliquid FET	+0.0412%	1h	0.2048	+0.137%	$9.0M	$8.0M	5x	as long as short
Phoenix FET	+0.0508%	1h	0.2043	−0.093%	$36K	$45K	5x	as long as short