Funding you earn now, next payment 02:00 UTC−0.0498%/8h= −54.5% APRnext payment −$0.62 per $10,000 · paid last 24h −0.067%
Price spread now: GMX against Hyperliquid−0.246%7-day average −0.169% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.119%−$12 on $10k
+Price spread, last 3 days (all we have)+0.099%+$10 · spread now −0.246%, 7d avg −0.169%
=Together, before fees−0.020%+ Points / potential airdropHyperliquid: Season 2 · farm board−$2 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and GMX is 0.076% cheaper against Hyperliquid than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.169%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.119% in total (about -13.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.62 per $10,000. 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 | 8.0591 | 0.0639 | pay 0.0080% / 1h | 9m 25s | $917K | $144K | 3x |
| Short | GMX GMX/USD [GMX-USDC] | 8.0393 | L +0.0417% / S −0.0141% | get 0.0018% / 1h | 9m 25s | $394K | — | 100x |
Hyperliquid GMX
GMX GMX/USD [GMX-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX 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
- −$104.58
- Price spread: −0.246% → −0.169%
- −$7.65
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- −$133.23
- Costs to cover
- 0.210%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 41 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 Hyperliquid live order book, 41 min ago | 0.68 bp | 26.0 bp −$26 | 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 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 | −5.697% | $4K | $4K | 5.5x | as long as short |
| Kraken Futures PF_GMXUSD | −0.0547% | 1h | 8.0518 | −0.090% | $33K | $600 | 10x | as long as short |
| Binance GMXUSDT | +0.0100% | 8h | 8.0489 | −0.126% | $2.3M | $1.9M | 50x | as long as short |
| Bybit GMXUSDT | +0.0100% | 8h | 8.0480 | −0.138% | $840K | $255K | 20x | as long as short |
| OKX GMX-USDT-SWAP | +0.0100% | 8h | 8.0460 | −0.163% | $296K | $521K | 20x | as long as short |
| Gate GMX_USDT | +0.0100% | 8h | 8.0600 | +0.011% | $199K | $78K | 33x | as long as short |
| MEXC GMX_USDT | +0.0100% | 8h | 8.0500 | −0.113% | $379K | $181K | 125x | as long as short |
| KuCoin GMXUSDTM | +0.0100% | 8h | 8.0720 | +0.160% | $182K | $31K | 30x | as long as short |
| Bitget GMXUSDT | +0.0100% | 8h | 8.0420 | −0.212% | $405K | $205K | 50x | as long as short |
| BingX GMX-USDT | +0.0100% | 8h | 8.0460 | −0.163% | — | $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
Bitget GMXUSDT
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 | 8.0521 | −0.087% | $21K | $54K | — | as long as short |
| GMX GMX/USD [GMX-USDC]short | L +0.0417% / S −0.0141% | 1h | 8.0393 | −0.246% | $394K | — | 100x | |
| Lighter GMX | +0.0584% | 1h | 8.0655 | +0.079% | $77K | $92K | 5x | as long as short |
| Hyperliquid GMXlong | +0.0639% | 1h | 8.0591 | long leg | $917K | $144K | 3x |
Variational Omni GMX
Lighter GMX