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Funding arb · Price arb /

GMX

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 01:00 UTC+0.0707%/8h= +77.4% APRpaid last 24h +0.234%
Price spread now: Bitget against Kraken Futures−0.147%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on Kraken FuturesShort on Bitget
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
Funding pays, the price is against you. Bitget is 0.147% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.147% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 17 hours of funding at the current rate (+$21 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKraken Futures PF_GMXUSD8.1500−0.0607get 0.0076% / 1h40m 08s$33K$60010x
ShortBitget GMXUSDT8.13800.0100get 0.0100% / 8h7h 40m$408K$202K50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bitget against Kraken Futures. 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

Funding earned
$148.39
Price spread: −0.147% → 0.000%
−$14.67
Slippage, 4 orders
no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders
−$10
Fee Bitget: 6 bp × 2 orders
−$12
Net
$111.72
Costs to cover
0.220%
Break-even
1.7 days
Slippage unknown: Kraken Futures: no order-book sample; Bitget: live order book, 25 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Kraken Futures no order-book sample—————
Sell Bitget live order book, 25 min ago5.56 bp25.8 bp −$26127.3 bp −$1,273doesn't fitdoesn't fit
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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective GMX/USDC PERP−0.5000%1h7.6700−5.889%$4K$5K5.5xas long as short
Kraken Futures PF_GMXUSDlong−0.0607%1h8.1500long leg$33K$60010x
BloFin GMX-USDT+0.0092%8h8.1500+0.001%$110K$31K50xas long as short
Hyperliquid GMX+0.0100%1h8.1648+0.182%$933K$167K3xas long as short
Binance GMXUSDT+0.0100%8h8.1514+0.017%$2.3M$2.0M50xas long as short
Bybit GMXUSDT+0.0100%8h8.1500+0.001%$850K$266K20xas long as short
OKX GMX-USDT-SWAP+0.0100%8h8.1340−0.196%$298K$549K20xas long as short
Gate GMX_USDT+0.0100%8h8.1320−0.220%$205K$77K33xas long as short
MEXC GMX_USDT+0.0100%8h8.1520+0.025%$404K$174K125xas long as short
KuCoin GMXUSDTM+0.0100%8h8.1420−0.098%$184K$36K30xas long as short
Show all 15 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget GMXUSDTshort+0.0100%8h8.1380−0.147%$408K$202K50x
BingX GMX-USDT+0.0100%8h8.1470−0.036%—$2.3M—as long as short
Variational Omni GMX+0.0100%8h8.1412−0.107%$21K$54K—as long as short
Lighter GMX+0.0216%1h8.1858+0.440%$78K$93K5xas long as short
GMX GMX/USD [GMX-USDC]L +0.0416% / S −0.0141%1h8.1516+0.020%$399K—100xas long as short