Funding arb · Price arb /

FET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0024%/8h= −2.6% APRpaid last 24h +0.046%

Price spread now: GMX against OKX−0.112%7-day average — · you buy dearer than you sell

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

Long on OKX 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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and GMX is 0.112% cheaper against OKX than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX FET-USDT-SWAP	0.2061	0.0302	pay 0.0151% / 4h	3h 38m	$1.0M	$8.0M	20x
Short	GMX FET/USD [ETH-USDC]	0.2059	L +0.0202% / S −0.0278%	get 0.0035% / 1h	38m 54s	$14K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against OKX. 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 OKXbpFee GMXbpOrdersPrice spread, now −0.112%Rate

Funding earned: −$5.05
Price spread: −0.112% → 0.000%: −$11.16
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$38.21
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 4 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 OKX live order book, 4 min ago	2.43 bp	16.9 bp −$17	55.9 bp −$559	doesn't fit	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	−0.2172%	1h	0.2059	−0.097%	$40K	$212K	10x	as long as short
Kraken Futures PF_FETUSD	−0.1256%	1h	0.2060	−0.024%	$1.0M	$2.2M	50x	as long as short
Coinbase International FET-PERP-INTX	−0.0704%	1h	0.2063	+0.097%	$153K	$209K	50x	as long as short
gTrade (Gains Network) FET/USD	L +0.0006% / S −0.0013%	1h	0.2059	−0.092%	$32K	—	150x	as long as short
Injective FET/USDC PERP	+0.0033%	1h	0.2010	−2.475%	$3K	$166K	12x	as long as short
Aster FETUSDT	+0.0100%	8h	0.2059	−0.121%	$342K	$542K	10x	as long as short
Binance FETUSDT	+0.0100%	8h	0.2057	−0.180%	$32.1M	$109.9M	75x	as long as short
Gate FET_USDT	+0.0100%	8h	0.2057	−0.194%	$2.8M	$12.0M	50x	as long as short
MEXC FET_USDT	+0.0100%	8h	0.2057	−0.194%	$34.8M	$24.8M	200x	as long as short
KuCoin FETUSDTM	+0.0100%	8h	0.2059	−0.097%	$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	0.2055	−0.282%	$361K	$399K	—	as long as short
Orderly PERP_FET_USDC	+0.0100%	8h	0.2058	−0.146%	$38K	$6K	10x	as long as short
Extended FET-USD	+0.0104%	1h	0.2057	−0.198%	$34K	$232K	10x	as long as short
GMX FET/USD [ETH-USDC]short	L +0.0202% / S −0.0278%	1h	0.2059	−0.112%	$14K	—	100x
BloFin FET-USDT	+0.0220%	8h	0.2058	−0.146%	$1.7M	$2.7M	100x	as long as short
BingX FET-USDT	+0.0287%	8h	0.2059	−0.097%	—	$5.7M	—	as long as short
OKX FET-USDT-SWAPlong	+0.0302%	4h	0.2061	long leg	$1.0M	$8.0M	20x
Bitget FETUSDT	+0.0302%	8h	0.2060	−0.049%	$16.6M	$11.5M	75x	as long as short
Hyperliquid FET	+0.0323%	1h	0.2061	0.000%	$9.2M	$8.1M	5x	as long as short
Phoenix FET	+0.0467%	1h	0.2059	−0.107%	$36K	$45K	5x	as long as short