Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0298%/8h= −32.6% APRpaid last 24h −0.093%

Price spread now: GMX against BingX+0.061%7-day average — · you sell dearer than you buy

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

Long on BingX 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

The price spread pays, funding is against you. GMX is 0.061% dearer against BingX than usual: you sell high and buy low (spread +0.061% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX S-USDT	0.04097	0.0100	pay 0.0050% / 4h	1h 43m	—	$6.7M	—
Short	GMX S/USD [WBTC.b-USDC]	0.04099	L −0.0206% / S +0.0198%	pay 0.0025% / 1h	43m 04s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BingX. 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 BingXbpFee GMXbpOrdersPrice spread, now +0.061%Rate

Funding earned: −$62.59
Price spread: +0.061% → 0.000%: $6.1
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$78.49
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 9 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 BingX live order book, 9 min ago	3.65 bp	20.7 bp −$21	55.7 bp −$557	448.3 bp −$44.8K	795.0 bp −$397.5K
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	−1.0792%	1h	0.03950	−3.588%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1679%	1h	0.04092	−0.112%	$34K	$16K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1456%	1h	0.04022	−1.831%	$48K	$16K	25x	as long as short
Variational Omni S	−0.0306%	4h	0.04092	−0.127%	$634K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]short	L −0.0206% / S +0.0198%	1h	0.04099	+0.061%	$1K	—	100x
Reya SRUSDPERP	−0.0101%	1h	0.04094	−0.084%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04100	+0.067%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+0.073%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0066%	4h	0.04098	+0.024%	$102K	$332K	10x	as long as short
Lighter S	+0.0096%	1h	0.04102	+0.122%	$171K	$156K	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	0.04101	+0.095%	$1.0M	$556K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04097	+0.011%	$45K	$133K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04099	+0.060%	$5.7M	$13.9M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04091	−0.146%	$5.8M	$4.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04094	−0.073%	$1.0M	$4.0M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04094	−0.073%	$336K	$200K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04098	+0.024%	$4.0M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04092	−0.122%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04100	+0.073%	$1.2M	$2.1M	50x	as long as short
BingX S-USDTlong	+0.0100%	4h	0.04097	long leg	—	$6.7M	—
ApeX Omni SUSDT	+0.0100%	1h	0.04090	−0.171%	$25K	$449K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04095	−0.051%	$230K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04101	+0.098%	$281K	$111K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0726%	1h	0.04103	+0.146%	$69K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1498%	1h	0.04110	+0.317%	$121K	$361K	5x	as long as short