S

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0298%/8h= −32.6% APRnext payment −$0.37 per $10,000 · paid last 24h −0.108%

Price spread now: GMX against Backpack−0.244%7-day average — · you buy dearer than you sell

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

Long on Backpack 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

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and GMX is 0.244% cheaper against Backpack than usual: you would sell low and buy high (−$24 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack S_USDC_PERP	0.03980	0.0100	pay 0.0013% / 1h	43m 59s	$116K	$317K	5x
Short	GMX S/USD [WBTC.b-USDC]	0.03970	L −0.0206% / S +0.0198%	pay 0.0025% / 1h	43m 59s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Backpack. 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 BackpackbpFee GMXbpOrdersPrice spread, now −0.244%Rate

Funding earned: −$62.59
Price spread: −0.244% → 0.000%: −$24.37
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$108.96
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 29 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 Backpack live order book, 29 min ago	12.71 bp	29.2 bp −$29	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.

S on 25 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
01 Exchange SUSD	−0.6080%	1h	0.03980	0.000%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2035%	1h	0.03971	−0.236%	$34K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1240%	1h	0.03826	−3.869%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0943%	4h	0.03974	−0.141%	$617K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]short	L −0.0206% / S +0.0198%	1h	0.03970	−0.244%	$1K	—	100x
Reya SRUSDPERP	−0.0101%	1h	0.03968	−0.298%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03972	−0.194%	$612	—	150x	as long as short
Orderly PERP_S_USDC	+0.0024%	4h	0.03970	−0.251%	$101K	$335K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.015%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03974	−0.151%	$161K	$190K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.03973	−0.183%	$994K	$647K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03975	−0.132%	$43K	$141K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03975	−0.126%	$5.4M	$16.2M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03969	−0.276%	$5.7M	$5.0M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03973	−0.176%	$980K	$4.7M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03972	−0.201%	$325K	$216K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03975	−0.126%	$3.7M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03976	−0.101%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03973	−0.176%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03974	−0.151%	—	$6.7M	—	as long as short
Backpack S_USDC_PERPlong	+0.0100%	1h	0.03980	long leg	$116K	$317K	5x
ApeX Omni SUSDT	+0.0100%	1h	0.03970	−0.251%	$26K	$449K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03973	−0.184%	$223K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03971	−0.226%	$267K	$126K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0505%	1h	0.03977	−0.075%	$67K	$10K	10x	as long as short