Funding you earn now, next payment 02:00 UTC−0.0521%/8h= −57.1% APRpaid last 24h −0.075%
Price spread now: Bitget against Hyperliquid−0.280%7-day average −0.187% · you buy dearer than you sell
Net, funding: paid 7d − costs−$106as in the Funding arb table
Net, price: spread back to 7d avg − costs−$99as in the Price arb table
costs, in and out, $10k−$900.898% of the position
Funding, last 7 days−0.159%−$16 on $10k
+Price spread, last 4 days (all we have)+0.092%+$9 · spread now −0.280%, 7d avg −0.187%
=Together, before fees−0.067%+ Points / potential airdropHyperliquid: Season 2 · farm board−$7 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Bitget is 0.093% cheaper against Hyperliquid than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.187%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.159% in total (about -8.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid GMX | 8.0716 | 0.0621 | pay 0.0078% / 1h | 12m 17s | $919K | $145K | 3x |
| Short | Bitget GMXUSDT | 8.0490 | 0.0100 | get 0.0100% / 8h | 6h 12m | $405K | $205K | 50x |
Hyperliquid GMX
Bitget GMXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against Hyperliquid. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$109.5
- Price spread: −0.280% → −0.187%
- −$9.33
- Slippage, 4 orders
- −$68.83
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$208.65
- Costs to cover
- 0.898%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 38 min ago; Bitget: live order book, 48 min ago.
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 Hyperliquid live order book, 38 min ago | 0.68 bp | 26.0 bp −$26 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bitget live order book, 48 min ago | 6.20 bp | 21.8 bp −$22 | 167.5 bp −$1,675 | doesn't fit | doesn't fit |
GMX on 14 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 | 7.6000 | −5.843% | $4K | $4K | 5.5x | as long as short |
| Kraken Futures PF_GMXUSD | −0.0547% | 1h | 8.0567 | −0.185% | $33K | $600 | 10x | as long as short |
| Binance GMXUSDT | +0.0100% | 8h | 8.0599 | −0.145% | $2.3M | $1.9M | 50x | as long as short |
| Bybit GMXUSDT | +0.0100% | 8h | 8.0560 | −0.193% | $841K | $254K | 20x | as long as short |
| OKX GMX-USDT-SWAP | +0.0100% | 8h | 8.0520 | −0.243% | $296K | $521K | 20x | as long as short |
| Gate GMX_USDT | +0.0100% | 8h | 8.0660 | −0.069% | $199K | $78K | 33x | as long as short |
| MEXC GMX_USDT | +0.0100% | 8h | 8.0600 | −0.144% | $379K | $181K | 125x | as long as short |
| KuCoin GMXUSDTM | +0.0100% | 8h | 8.0810 | +0.116% | $182K | $31K | 30x | as long as short |
| Bitget GMXUSDTshort | +0.0100% | 8h | 8.0490 | −0.280% | $405K | $205K | 50x | |
| BingX GMX-USDT | +0.0100% | 8h | 8.0570 | −0.181% | — | $2.3M | — | as long as short |
Injective GMX/USDC PERP
Kraken Futures PF_GMXUSD
Binance GMXUSDT
Bybit GMXUSDT
OKX GMX-USDT-SWAP
Gate GMX_USDT
MEXC GMX_USDT
KuCoin GMXUSDTM
BingX GMX-USDTShow all 14 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni GMX | +0.0100% | 8h | 8.0590 | −0.156% | $21K | $54K | — | as long as short |
| GMX GMX/USD [GMX-USDC] | L +0.0417% / S −0.0141% | 1h | 8.0487 | −0.284% | $394K | — | 100x | as long as short |
| Lighter GMX | +0.0576% | 1h | 8.0765 | +0.061% | $77K | $92K | 5x | as long as short |
| Hyperliquid GMXlong | +0.0621% | 1h | 8.0716 | long leg | $919K | $145K | 3x |
Variational Omni GMX
GMX GMX/USD [GMX-USDC]
Lighter GMX