Funding arb · Price arb /

GMX

all GMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0707%/8h= −77.4% APRpaid last 24h −0.234%

Price spread now: Kraken Futures against Bitget+0.147%7-day average — · you sell dearer than you buy

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

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread pays, funding is against you. Kraken Futures is 0.147% dearer against Bitget than usual: you sell high and buy low (spread +0.147% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 17 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget GMXUSDT	8.1380	0.0100	pay 0.0100% / 8h	7h 40m	$408K	$202K	50x
Short	Kraken Futures PF_GMXUSD	8.1500	−0.0607	pay 0.0076% / 1h	40m 15s	$33K	$600	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now +0.147%Rate

Funding earned: −$148.39
Price spread: +0.147% → 0.000%: $14.69
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$155.69
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 25 min ago; Kraken Futures: 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 Bitget live order book, 25 min ago	5.56 bp	31.8 bp −$32	137.7 bp −$1,377	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: 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	7.6700	−5.751%	$4K	$5K	5.5x	as long as short
Kraken Futures PF_GMXUSDshort	−0.0607%	1h	8.1500	+0.147%	$33K	$600	10x
BloFin GMX-USDT	+0.0092%	8h	8.1500	+0.147%	$110K	$31K	50x	as long as short
Hyperliquid GMX	+0.0100%	1h	8.1648	+0.329%	$933K	$167K	3x	as long as short
Binance GMXUSDT	+0.0100%	8h	8.1514	+0.164%	$2.3M	$2.0M	50x	as long as short
Bybit GMXUSDT	+0.0100%	8h	8.1500	+0.147%	$850K	$266K	20x	as long as short
OKX GMX-USDT-SWAP	+0.0100%	8h	8.1340	−0.049%	$298K	$549K	20x	as long as short
Gate GMX_USDT	+0.0100%	8h	8.1320	−0.074%	$205K	$77K	33x	as long as short
MEXC GMX_USDT	+0.0100%	8h	8.1520	+0.172%	$404K	$174K	125x	as long as short
KuCoin GMXUSDTM	+0.0100%	8h	8.1420	+0.049%	$184K	$36K	30x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget GMXUSDTlong	+0.0100%	8h	8.1380	long leg	$408K	$202K	50x
BingX GMX-USDT	+0.0100%	8h	8.1470	+0.111%	—	$2.3M	—	as long as short
Variational Omni GMX	+0.0100%	8h	8.1412	+0.040%	$21K	$54K	—	as long as short
Lighter GMX	+0.0216%	1h	8.1858	+0.587%	$78K	$93K	5x	as long as short
GMX GMX/USD [GMX-USDC]	L +0.0416% / S −0.0141%	1h	8.1516	+0.167%	$399K	—	100x	as long as short