Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0306%/8h= +33.5% APRpaid last 24h +0.137%

Price spread now: Gate against GMX+0.211%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Gate

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 for this trade now. Funding pays +$9 a day on $10k at the current rate, and Gate is 0.211% dearer against GMX than usual: you sell high and buy low: +$21 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX S/USD [WBTC.b-USDC]	0.04071	L −0.0206% / S +0.0198%	get 0.0026% / 1h	9m 25s	$1K	—	100x
Short	Gate S_USDT	0.04080	0.0100	get 0.0050% / 4h	2h 09m	$336K	$205K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against GMX. 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 GMXbpFee GatebpOrdersPrice spread, now +0.211%Rate

Funding earned: $64.24
Price spread: +0.211% → 0.000%: $21.12
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $58.37
Costs to cover: 0.270%
Break-even: 0.6 days

Slippage unknown: GMX: no order-book sample; Gate: live order book, 56 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Gate live order book, 56 min ago	8.76 bp	91.4 bp −$91	doesn't fit	doesn't fit	doesn't fit

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 24 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	−0.8872%	1h	0.03940	−3.227%	$24K	$2K	5x	as long as short
Coinbase International S-PERP-INTX	−0.1464%	1h	0.04022	−1.213%	$48K	$16K	25x	as long as short
Kraken Futures PF_SUSD	−0.1244%	1h	0.04072	+0.026%	$34K	$16K	10x	as long as short
Variational Omni S	−0.0385%	4h	0.04068	−0.076%	$633K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]long	L −0.0206% / S +0.0198%	1h	0.04071	long leg	$1K	—	100x
Reya SRUSDPERP	−0.0101%	1h	0.04067	−0.113%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04070	−0.035%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+0.702%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0052%	4h	0.04078	+0.162%	$103K	$331K	10x	as long as short
Lighter S	+0.0096%	1h	0.04083	+0.285%	$169K	$167K	5x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04068	−0.079%	$1.0M	$562K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04078	+0.152%	$45K	$134K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04069	−0.059%	$5.6M	$14.6M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04065	−0.157%	$5.8M	$4.7M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04068	−0.084%	$1.0M	$4.2M	20x	as long as short
Gate S_USDTshort	+0.0100%	4h	0.04080	+0.211%	$336K	$205K	50x
MEXC S_USDT	+0.0100%	4h	0.04066	−0.133%	$4.0M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04068	−0.084%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04069	−0.059%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04066	−0.133%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04080	+0.211%	$24K	$446K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04076	+0.107%	$230K	$1.1M	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0731%	1h	0.04082	+0.260%	$69K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.0919%	1h	0.04090	+0.457%	$119K	$349K	5x	as long as short