Funding arb · Price arb /

GMX

all GMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0042%/8h= +4.6% APRpaid last 24h +0.009%

Price spread now: GMX against Gate−0.216%7-day average +0.192% · you buy dearer than you sell

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

Long on Gate Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.038%+$4 on $10k

Price spread, last 4 days (all we have)+0.526%+$53 · spread now −0.216%, 7d avg +0.192%

Together, before fees+0.565%+$56 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.409% cheaper against Gate than usual: you would sell low and buy high (spread −0.216% now, against its 7-day average of +0.192%). If the spread goes back, that is −$41 on $10k: about 32 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	Gate GMX_USDT	7.9900	0.0100	pay 0.0100% / 8h	2h 39m	$195K	$68K	33x
Short	GMX GMX/USD [GMX-USDC]	7.9727	L +0.0417% / S −0.0142%	get 0.0018% / 1h	39m 38s	$391K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Gate. 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 GatebpFee GMXbpOrdersPrice spread, now −0.216%Rate

Funding earned: $8.8
Price spread: −0.216% → +0.192%: −$40.85
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GMX: 6 bp × 2 orders: −$12
Net: −$59.05
Costs to cover: 0.270%
Break-even: 54.0 days

Slippage unknown: Gate: live order book, 2 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 Gate live order book, 2 min ago	4.39 bp	317.1 bp −$317	doesn't fit	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	7.5400	−5.632%	$4K	$4K	5.5x	as long as short
Kraken Futures PF_GMXUSD	+0.0045%	1h	7.9705	−0.244%	$33K	$463	10x	as long as short
Binance GMXUSDT	+0.0100%	8h	7.9790	−0.138%	$2.3M	$1.9M	50x	as long as short
Bybit GMXUSDT	+0.0100%	8h	7.9680	−0.275%	$819K	$248K	20x	as long as short
OKX GMX-USDT-SWAP	+0.0100%	8h	7.9670	−0.288%	$292K	$487K	20x	as long as short
Gate GMX_USDTlong	+0.0100%	8h	7.9900	long leg	$195K	$68K	33x
MEXC GMX_USDT	+0.0100%	8h	7.9760	−0.175%	$374K	$177K	125x	as long as short
KuCoin GMXUSDTM	+0.0100%	8h	7.9560	−0.426%	$158K	$57K	30x	as long as short
Bitget GMXUSDT	+0.0100%	8h	7.9680	−0.275%	$413K	$208K	50x	as long as short
BingX GMX-USDT	+0.0100%	8h	7.9730	−0.213%	—	$2.3M	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni GMX	+0.0100%	8h	7.9933	+0.041%	$21K	$54K	—	as long as short
BloFin GMX-USDT	+0.0102%	8h	8.0060	+0.200%	$108K	$25K	50x	as long as short
Lighter GMX	+0.0288%	1h	7.9909	+0.011%	$76K	$89K	5x	as long as short
GMX GMX/USD [GMX-USDC]short	L +0.0417% / S −0.0142%	1h	7.9727	−0.216%	$391K	—	100x
Hyperliquid GMX	+0.0418%	1h	7.9877	−0.029%	$887K	$151K	3x	as long as short