Funding arb · Price arb /

FIL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0609%/8h= +66.7% APRpaid last 24h +0.381%

Price spread now: GMX against edgeX−0.023%70s7-day average +0.088% · you buy dearer than you sell

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

Long on edgeX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+1.228%+$123 on $10k

Price spread, last 3 days (all we have)+0.166%+$17 · spread now −0.023%, 7d avg +0.088%

Together, before fees+1.393%+ Points / potential airdropedgeX: Active · farm board+$139 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.111% cheaper against edgeX than usual: you would sell low and buy high (spread −0.023% now, against its 7-day average of +0.088%). If the spread goes back, that is −$11 on $10k: about 15 hours of funding at the current rate (+$18 a day). At the pace of the last 3 days (+1.228% in total) that is about 7 hours. The two prices were read 70 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX FILUSDC	0.9918	0.0100	pay 0.0050% / 4h	1h 09m	$45K	$292K	10x
Short	GMX FIL/USD [WBTC.b-USDC]	0.9916	L +0.0600% / S −0.0709%	get 0.0089% / 1h	9m 40s	$207K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against edgeX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 edgeXbpFee GMXbpOrdersPrice spread, now −0.023%Rate

Funding earned: $127.95
Price spread: −0.023% → +0.088%: −$11.11
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: $95.84
Costs to cover: 0.210%
Break-even: 1.8 days

Slippage unknown: edgeX: live order book, 8 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 edgeX live order book, 8 min ago	3.53 bp	8.5 bp −$9	87.2 bp −$872	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.

FIL on 29 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
Kraken Futures PF_FILUSD	−0.0692%	1h	0.9916	−0.020%	$1.3M	$2.3M	50x	as long as short
Deribit FIL_USDC-PERPETUAL	−0.0657%	1h	0.9918	+0.001%	$171K	$23K	25x	as long as short
Coinbase International FIL-PERP-INTX	−0.0376%	1h	0.9929	+0.111%	$319K	$1.9M	50x	as long as short
Injective FIL/USDC PERP	−0.0252%	1h	0.9855	−0.635%	$2K	$240K	12x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9917	−0.008%	$25K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9930	+0.125%	$58K	$2K	10x	as long as short
Bitget FILUSDT	+0.0008%	8h	0.9918	+0.001%	$10.8M	$21.6M	75x	as long as short
KuCoin FILUSDTM	+0.0013%	8h	0.9920	+0.021%	$7.4M	$7.0M	50x	as long as short
Bybit FILUSDT	+0.0033%	8h	0.9922	+0.041%	$15.4M	$18.1M	25x	as long as short
OKX FIL-USDT-SWAP	+0.0039%	8h	0.9918	+0.001%	$18.2M	$98.3M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC FIL_USDC	+0.0075%	8h	0.9911	−0.070%	$252K	$105K	50x	as long as short
Binance FILUSDT	+0.0076%	8h	0.9922	+0.037%	$57.4M	$176.4M	75x	as long as short
Extended FIL-USD	+0.0080%	1h	0.9911	−0.071%	$692K	$2.3M	10x	as long as short
BingX FIL-USDC	+0.0080%	8h	0.9915	−0.030%	—	$6.5M	—	as long as short
Lighter FIL	+0.0096%	1h	0.9918	+0.003%	$159K	$349K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9922	+0.046%	$8.7M	$9.5M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9925	+0.072%	$498K	$525K	20x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9916	−0.020%	$7.9M	$16.3M	50x	as long as short
Variational Omni FIL	+0.0100%	8h	0.9926	+0.083%	$442K	$277K	—	as long as short
edgeX FILUSDClong	+0.0100%	4h	0.9918	long leg	$45K	$292K	10x
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9921	+0.034%	$288K	$790K	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9920	+0.021%	$30K	$197K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9922	+0.045%	$5K	—	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9910	−0.080%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9913	−0.050%	$488	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9915	−0.030%	$628K	$5.6M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9910	−0.080%	$1.1M	$2.3M	50x	as long as short
BloFin FIL-USDT	+0.0198%	8h	0.9923	+0.051%	$2.7M	$659K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]short	L +0.0600% / S −0.0709%	1h	0.9916	−0.023%	$207K	—	100x