Funding you earn now, next payment 02:00 UTC−0.0538%/8h= −58.9% APRnext payment −$0.67 per $10,000 · paid last 24h −0.099%
Price spread now: Injective against GMX−1.047%57s7-day average +2.088% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.075%−$7 on $10k
+Price spread, last 3 days (all we have)−1.084%−$108 · spread now −1.047%, 7d avg +2.088%
=Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Injective is 3.136% cheaper against GMX than usual: you would sell low and buy high (−$314 if the spread goes back to its 7-day average of +2.088%). Swap the legs. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.075% in total (about -8.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.67 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX FIL/USD [WBTC.b-USDC] | 0.9959 | L +0.0571% / S −0.0592% | pay 0.0071% / 1h | 49m 38s | $201K | — | 100x |
| Short | Injective FIL/USDC PERP | 0.9855 | 0.0033 | get 0.0004% / 1h | 49m 38s | $2K | $240K | 12x |
GMX FIL/USD [WBTC.b-USDC]
Injective FIL/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$112.89
- Price spread: −1.047% → +2.088%
- −$313.56
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$438.46
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Injective: 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 GMX no order-book sample | — | — | — | — | — |
| Sell Injective no order-book sample | — | — | — | — | — |
GMX and Injective: 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International FIL-PERP-INTX | −0.0296% | 1h | 0.9930 | −0.294% | $373K | $2.1M | 50x | as long as short |
| Deribit FIL_USDC-PERPETUAL | −0.0252% | 1h | 0.9965 | +0.057% | $171K | $23K | 25x | as long as short |
| Kraken Futures PF_FILUSD | −0.0192% | 1h | 0.9977 | +0.177% | $1.4M | $2.4M | 50x | as long as short |
| OKX FIL-USDT-SWAP | −0.0061% | 8h | 0.9995 | +0.358% | $18.2M | $99.9M | 50x | as long as short |
| KuCoin FILUSDTM | −0.0043% | 8h | 0.9988 | +0.288% | $7.4M | $7.3M | 50x | as long as short |
| gTrade (Gains Network) FIL/USD | L −0.0005% / S +0.0006% | 1h | 0.9959 | −0.001% | $35K | — | 150x | as long as short |
| dYdX FIL-USD | 0.0000% | 1h | 0.9980 | +0.205% | $58K | $2K | 10x | as long as short |
| Binance FILUSDT | +0.0023% | 8h | 0.9988 | +0.288% | $57.4M | $181.6M | 75x | as long as short |
| Extended FIL-USD | +0.0024% | 1h | 0.9983 | +0.234% | $695K | $3.3M | 10x | as long as short |
| Gate FIL_USDT | +0.0024% | 8h | 0.9985 | +0.258% | $8.2M | $15.8M | 50x | as long as short |
Coinbase International FIL-PERP-INTX
Deribit FIL_USDC-PERPETUAL
Kraken Futures PF_FILUSD
OKX FIL-USDT-SWAP
KuCoin FILUSDTM
gTrade (Gains Network) FIL/USD
dYdX FIL-USD
Binance FILUSDT
Extended FIL-USD
Gate FIL_USDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective FIL/USDC PERPshort | +0.0033% | 1h | 0.9855 | −1.047% | $2K | $240K | 12x | |
| MEXC FIL_USDC | +0.0064% | 8h | 0.9986 | +0.268% | $245K | $103K | 50x | as long as short |
| Bitget FILUSDT | +0.0093% | 8h | 0.9981 | +0.218% | $11.2M | $22.0M | 75x | as long as short |
| BloFin FIL-USDT | +0.0095% | 8h | 0.9934 | −0.254% | $2.7M | $608K | 75x | as long as short |
| Lighter FIL | +0.0096% | 1h | 0.9977 | +0.174% | $161K | $342K | 5x | as long as short |
| Hyperliquid FIL | +0.0100% | 1h | 0.9986 | +0.263% | $8.6M | $9.5M | 5x | as long as short |
| Aster FILUSDT | +0.0100% | 8h | 0.9993 | +0.338% | $510K | $611K | 20x | as long as short |
| Bybit FILUSDT | +0.0100% | 8h | 0.9993 | +0.338% | $15.6M | $18.8M | 25x | as long as short |
| BingX FIL-USDT | +0.0100% | 8h | 0.9982 | +0.228% | — | $11.9M | — | as long as short |
| Variational Omni FIL | +0.0100% | 8h | 0.9935 | −0.244% | $447K | $269K | — | as long as short |
| edgeX FILUSDC | +0.0100% | 4h | 0.9940 | −0.189% | $46K | $294K | 10x | as long as short |
| GRVT FIL_USDT_Perp | +0.0100% | 8h | 0.9947 | −0.121% | $292K | $836K | 10x | as long as short |
| ApeX Omni FILUSDT | +0.0100% | 1h | 0.9940 | −0.194% | $30K | $193K | 50x | as long as short |
| Orderly PERP_FIL_USDC_mythos | +0.0100% | 4h | 0.9964 | +0.051% | $5K | — | 10x | as long as short |
| SunX FIL-USDT | +0.0100% | 8h | 0.9970 | +0.107% | $3K | $1.1M | 20x | as long as short |
| SoDEX FIL-USD | +0.0100% | 1h | 0.9964 | +0.047% | $488 | $11K | 5x | as long as short |
| HTX FIL-USDT | +0.0100% | 8h | 0.9980 | +0.208% | $642K | $5.8M | 75x | as long as short |
| Phemex FILUSDT | +0.0100% | 8h | 0.9970 | +0.107% | $1.1M | $2.3M | 50x | as long as short |
| GMX FIL/USD [WBTC.b-USDC]long | L +0.0571% / S −0.0592% | 1h | 0.9959 | long leg | $201K | — | 100x |
MEXC FIL_USDC
Bitget FILUSDT
BloFin FIL-USDT
Lighter FIL
Hyperliquid FIL
Aster FILUSDT
Bybit FILUSDT
BingX FIL-USDT
Variational Omni FIL
edgeX FILUSDC
GRVT FIL_USDT_Perp
ApeX Omni FILUSDT
Orderly PERP_FIL_USDC_mythos
SunX FIL-USDT
SoDEX FIL-USD
HTX FIL-USDT
Phemex FILUSDT