Funding arb · Price arb /

GMX

all GMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 13:00 UTC−0.0402%/8h= −44.0% APRpaid last 24h −0.102%

Price spread now: MEXC against GMX+0.067%7-day average +0.007% · you sell dearer than you buy

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

Long on GMX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.330%−$33 on $10k

Price spread, last 4 days (all we have)−0.159%−$16 · spread now +0.067%, 7d avg +0.007%

Together, before fees−0.489%−$49 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.060% dearer against GMX than usual: you sell high and buy low (spread +0.067% now, against its 7-day average of +0.007%): +$6 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX GMX/USD [GMX-USDC]	8.0346	L +0.0502% / S −0.0167%	pay 0.0063% / 1h	24m 14s	$441K	—	100x
Short	MEXC GMX_USDT	8.0400	0.0100	get 0.0100% / 8h	3h 24m	$373K	$140K	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against GMX. 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 GMXbpFee MEXCbpOrdersPrice spread, now +0.067%Rate

Funding earned: −$84.41
Price spread: +0.067% → +0.007%: $6
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$94.4
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; MEXC: live order book, 59 min ago. 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 MEXC live order book, 59 min ago	1.25 bp	8.4 bp −$8	135.2 bp −$1,352	292.4 bp −$29.2K	doesn't fit

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 exchanges

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	7.5300	−6.281%	$4K	$59K	5.5x	as long as short
Kraken Futures PF_GMXUSD	−0.1091%	1h	8.0329	−0.022%	$33K	$398	10x	as long as short
BloFin GMX-USDT	+0.0074%	8h	8.0440	+0.117%	$106K	$25K	50x	as long as short
Binance GMXUSDT	+0.0100%	8h	8.0408	+0.077%	$2.3M	$1.6M	50x	as long as short
Bybit GMXUSDT	+0.0100%	8h	8.0380	+0.042%	$822K	$208K	20x	as long as short
OKX GMX-USDT-SWAP	+0.0100%	8h	8.0300	−0.058%	$289K	$282K	20x	as long as short
Gate GMX_USDT	+0.0100%	8h	8.0310	−0.045%	$194K	$59K	33x	as long as short
MEXC GMX_USDTshort	+0.0100%	8h	8.0400	+0.067%	$373K	$140K	125x
KuCoin GMXUSDTM	+0.0100%	8h	8.0090	−0.319%	$161K	$44K	30x	as long as short
Bitget GMXUSDT	+0.0100%	8h	8.0410	+0.079%	$407K	$153K	50x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX GMX-USDT	+0.0100%	8h	8.0410	+0.079%	—	$2.3M	—	as long as short
Variational Omni GMX	+0.0100%	8h	8.0548	+0.251%	$21K	$48K	—	as long as short
Lighter GMX	+0.0360%	1h	8.0572	+0.281%	$76K	$78K	5x	as long as short
GMX GMX/USD [GMX-USDC]long	L +0.0502% / S −0.0167%	1h	8.0346	long leg	$441K	—	100x
Hyperliquid GMX	+0.0681%	1h	8.0564	+0.271%	$894K	$114K	3x	as long as short