Funding arb · Price arb /

GMX

all GMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0041%/8h= +4.5% APRpaid last 24h +0.009%

Price spread now: GMX against Binance−0.034%7-day average +0.013% · you buy dearer than you sell

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

Long on Binance Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.036%+$4 on $10k

Price spread, last 3 days (all we have)+0.112%+$11 · spread now −0.034%, 7d avg +0.013%

Together, before fees+0.148%+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.046% cheaper against Binance than usual: you would sell low and buy high (spread −0.034% now, against its 7-day average of +0.013%). If the spread goes back, that is −$5 on $10k: about 3.7 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance GMXUSDT	8.0360	0.0100	pay 0.0100% / 8h	1h 21m	$2.3M	$2.0M	50x
Short	GMX GMX/USD [GMX-USDC]	8.0333	L +0.0416% / S −0.0141%	get 0.0018% / 1h	21m 58s	$393K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Binance. 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 BinancebpFee GMXbpOrdersPrice spread, now −0.034%Rate

Funding earned: $8.69
Price spread: −0.034% → +0.013%: −$4.63
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$17.94
Costs to cover: 0.220%
Break-even: 21.5 days

Slippage unknown: Binance: live order book, 13 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 Binance live order book, 13 min ago	3.10 bp	29.9 bp −$30	94.5 bp −$945	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.

GMX on 15 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
Injective GMX/USDC PERP	−0.5000%	1h	7.5700	−5.799%	$4K	$4K	5.5x	as long as short
Kraken Futures PF_GMXUSD	−0.1099%	1h	8.0349	−0.014%	$33K	$571	10x	as long as short
BloFin GMX-USDT	+0.0070%	8h	8.0470	+0.137%	$110K	$30K	50x	as long as short
Lighter GMX	+0.0096%	1h	8.0512	+0.189%	$76K	$93K	5x	as long as short
Hyperliquid GMX	+0.0100%	1h	8.0462	+0.127%	$920K	$170K	3x	as long as short
Binance GMXUSDTlong	+0.0100%	8h	8.0360	long leg	$2.3M	$2.0M	50x
Bybit GMXUSDT	+0.0100%	8h	8.0270	−0.112%	$837K	$267K	20x	as long as short
OKX GMX-USDT-SWAP	+0.0100%	8h	8.0300	−0.075%	$296K	$542K	20x	as long as short
Gate GMX_USDT	+0.0100%	8h	8.0190	−0.212%	$198K	$78K	33x	as long as short
MEXC GMX_USDT	+0.0100%	8h	8.0340	−0.025%	$395K	$173K	125x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin GMXUSDTM	+0.0100%	8h	8.0480	+0.149%	$182K	$39K	30x	as long as short
Bitget GMXUSDT	+0.0100%	8h	8.0270	−0.112%	$402K	$201K	50x	as long as short
BingX GMX-USDT	+0.0100%	8h	8.0320	−0.050%	—	$2.3M	—	as long as short
Variational Omni GMX	+0.0100%	8h	8.0255	−0.131%	$21K	$55K	—	as long as short
GMX GMX/USD [GMX-USDC]short	L +0.0416% / S −0.0141%	1h	8.0333	−0.034%	$393K	—	100x