Funding arb · Price arb /

GMX

all GMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0645%/8h= −70.7% APRpaid last 24h −0.226%

Price spread now: Kraken Futures against Gate+0.391%7-day average — · you sell dearer than you buy

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

Long on Gate 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 0.391% dearer against Gate than usual: you sell high and buy low (spread +0.391% now, against zero (this spread has no 7-day history yet)): +$39 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 2.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate GMX_USDT	8.0450	0.0100	pay 0.0100% / 8h	6h 50m	$198K	$78K	33x
Short	Kraken Futures PF_GMXUSD	8.0764	−0.0545	pay 0.0068% / 1h	50m 19s	$33K	$600	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now +0.391%Rate

Funding earned: −$135.5
Price spread: +0.391% → 0.000%: $39.05
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$121.45
Costs to cover: 0.250%
Break-even: from the start

Slippage unknown: Gate: live order book, 11 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 Gate live order book, 11 min ago	6.82 bp	362.8 bp −$363	doesn't fit	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	7.5900	−5.656%	$4K	$4K	5.5x	as long as short
Kraken Futures PF_GMXUSDshort	−0.0545%	1h	8.0764	+0.391%	$33K	$600	10x
BloFin GMX-USDT	+0.0071%	8h	8.0500	+0.062%	$110K	$26K	50x	as long as short
Binance GMXUSDT	+0.0100%	8h	8.0810	+0.447%	$2.3M	$1.9M	50x	as long as short
Bybit GMXUSDT	+0.0100%	8h	8.0790	+0.423%	$844K	$260K	20x	as long as short
OKX GMX-USDT-SWAP	+0.0100%	8h	8.0800	+0.435%	$297K	$528K	20x	as long as short
Gate GMX_USDTlong	+0.0100%	8h	8.0450	long leg	$198K	$78K	33x
MEXC GMX_USDT	+0.0100%	8h	8.0820	+0.460%	$380K	$179K	125x	as long as short
KuCoin GMXUSDTM	+0.0100%	8h	8.0900	+0.559%	$182K	$37K	30x	as long as short
Bitget GMXUSDT	+0.0100%	8h	8.0700	+0.311%	$405K	$207K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX GMX-USDT	+0.0100%	8h	8.0670	+0.273%	—	$2.3M	—	as long as short
Variational Omni GMX	+0.0100%	8h	8.0633	+0.227%	$21K	$54K	—	as long as short
Hyperliquid GMX	+0.0231%	1h	8.0894	+0.552%	$922K	$149K	3x	as long as short
Lighter GMX	+0.0288%	1h	8.0971	+0.648%	$77K	$92K	5x	as long as short
GMX GMX/USD [GMX-USDC]	L +0.0416% / S −0.0141%	1h	8.0689	+0.298%	$395K	—	100x	as long as short