Funding arb · Price arb /

OKB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0166%/8h= +18.1% APRpaid last 24h +0.068%

Price spread now: GMX against Bybit−0.103%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 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. GMX is 0.103% cheaper against Bybit than usual: you would sell low and buy high (spread −0.103% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 2.1 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit OKBUSDT	123.20	0.0100	pay 0.0050% / 4h	1h 15m	$2.5M	$1.1M	25x
Short	GMX OKB/USD [ETH-USDC]	123.07	L +0.0270% / S −0.0266%	get 0.0033% / 1h	15m 00s	$3K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bybit. 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 BybitbpFee GMXbpOrdersPrice spread, now −0.103%Rate

Funding earned: $34.77
Price spread: −0.103% → 0.000%: −$10.33
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: $1.44
Costs to cover: 0.230%
Break-even: 6.7 days

Slippage unknown: Bybit: live order book, 2 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 Bybit live order book, 2 min ago	2.03 bp	35.0 bp −$35	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.

OKB on 10 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
Aster OKBUSDT	−0.8094%	1h	121.72	−1.201%	$49K	$28K	5x	as long as short
Injective OKB/USDC PERP	+0.0033%	1h	123.18	−0.016%	$25	$304K	5.5x	as long as short
BingX OKB-USDT	+0.0036%	4h	123.14	−0.049%	—	$2.8M	—	as long as short
Bybit OKBUSDTlong	+0.0100%	4h	123.20	long leg	$2.5M	$1.1M	25x
OKX OKB-USDT-SWAP	+0.0100%	4h	123.16	−0.032%	$30.3M	$45.6M	20x	as long as short
Gate OKB_USDT	+0.0100%	8h	123.13	−0.057%	$1.5M	$654K	25x	as long as short
MEXC OKB_USDT	+0.0100%	4h	123.08	−0.097%	$1.1M	$442K	25x	as long as short
Variational Omni OKB	+0.0100%	4h	123.35	+0.123%	$55K	$38K	—	as long as short
HTX OKB-USDT	+0.0100%	8h	123.56	+0.292%	$67K	$310K	10x	as long as short
GMX OKB/USD [ETH-USDC]short	L +0.0270% / S −0.0266%	1h	123.07	−0.103%	$3K	—	100x