Funding arb · Price arb /

GMX

all GMX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0099%/8h= +10.8% APRpaid last 24h +0.014%

Price spread now: GMX against MEXC−0.020%7-day average −0.005% · you buy dearer than you sell

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

Long on MEXC Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.038%+$4 on $10k

Price spread, last 4 days (all we have)+0.095%+$10 · spread now −0.020%, 7d avg −0.005%

Together, before fees+0.133%+$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.005%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC GMX_USDT	7.9750	0.0100	pay 0.0100% / 8h	4h 52m	$371K	$136K	125x
Short	GMX GMX/USD [GMX-USDC]	7.9734	L +0.0610% / S −0.0199%	get 0.0025% / 1h	52m 04s	$434K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against MEXC. 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 MEXCbpFee GMXbpOrdersPrice spread, now −0.020%Rate

Funding earned: $20.74
Price spread: −0.020% → −0.005%: −$1.47
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee GMX: 6 bp × 2 orders: −$12
Net: $3.27
Costs to cover: 0.160%
Break-even: 5.9 days

Slippage unknown: MEXC: live order book, 45 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 MEXC live order book, 45 min ago	1.24 bp	7.9 bp −$8	87.0 bp −$870	287.8 bp −$28.8K	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 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
Kraken Futures PF_GMXUSD	−0.1052%	1h	7.9715	−0.043%	$33K	$398	10x	as long as short
Injective GMX/USDC PERP	+0.0033%	1h	7.5200	−5.705%	$4K	$3K	5.5x	as long as short
Lighter GMX	+0.0096%	1h	7.9924	+0.218%	$76K	$78K	5x	as long as short
Binance GMXUSDT	+0.0100%	8h	7.9740	−0.013%	$2.3M	$1.6M	50x	as long as short
Bybit GMXUSDT	+0.0100%	8h	7.9710	−0.050%	$815K	$215K	20x	as long as short
OKX GMX-USDT-SWAP	+0.0100%	8h	7.9650	−0.125%	$285K	$296K	20x	as long as short
Gate GMX_USDT	+0.0100%	8h	7.9720	−0.038%	$192K	$62K	33x	as long as short
MEXC GMX_USDTlong	+0.0100%	8h	7.9750	long leg	$371K	$136K	125x
KuCoin GMXUSDTM	+0.0100%	8h	7.9560	−0.238%	$164K	$43K	30x	as long as short
Bitget GMXUSDT	+0.0100%	8h	7.9730	−0.025%	$407K	$163K	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	7.9720	−0.038%	—	$2.3M	—	as long as short
Variational Omni GMX	+0.0100%	8h	7.9744	−0.008%	$20K	$47K	—	as long as short
BloFin GMX-USDT	+0.0109%	8h	7.9850	+0.125%	$106K	$25K	50x	as long as short
Hyperliquid GMX	+0.0116%	1h	7.9885	+0.169%	$886K	$113K	3x	as long as short
GMX GMX/USD [GMX-USDC]short	L +0.0610% / S −0.0199%	1h	7.9734	−0.020%	$434K	—	100x