Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0298%/8h= −32.6% APRpaid last 24h −0.081%

Price spread now: GMX against KuCoin+0.134%7-day average — · you sell dearer than you buy

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

Long on KuCoin 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 0.134% dearer against KuCoin than usual: you sell high and buy low (spread +0.134% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 36 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SUSDTM	0.03949	0.0100	pay 0.0050% / 4h	2h 59m	$1.8M	$2.7M	50x
Short	GMX S/USD [WBTC.b-USDC]	0.03954	L −0.0206% / S +0.0198%	pay 0.0025% / 1h	59m 40s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against KuCoin. 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 KuCoinbpFee GMXbpOrdersPrice spread, now +0.134%Rate

Funding earned: −$62.59
Price spread: +0.134% → 0.000%: $13.42
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$73.17
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: KuCoin: 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 KuCoin live order book, 2 min ago	6.32 bp	93.7 bp −$94	573.2 bp −$5,732	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	−0.8432%	1h	0.03840	−2.760%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2257%	1h	0.03946	−0.065%	$32K	$14K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1344%	1h	0.03929	−0.506%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]short	L −0.0206% / S +0.0198%	1h	0.03954	+0.134%	$1K	—	100x
Reya SRUSDPERP	−0.0101%	1h	0.03949	+0.009%	$4	—	15x	as long as short
Variational Omni S	−0.0063%	4h	0.03946	−0.068%	$613K	$29K	—	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03954	+0.114%	$609	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.824%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0083%	4h	0.03953	+0.101%	$98K	$298K	10x	as long as short
Lighter S	+0.0096%	1h	0.03953	+0.101%	$167K	$137K	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	0.03949	+0.008%	$994K	$595K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03952	+0.087%	$46K	$142K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03948	−0.029%	$5.5M	$13.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03944	−0.127%	$5.6M	$4.4M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03946	−0.076%	$979K	$3.7M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03946	−0.076%	$321K	$183K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03950	+0.025%	$3.6M	$1.7M	200x	as long as short
KuCoin SUSDTMlong	+0.0100%	4h	0.03949	long leg	$1.8M	$2.7M	50x
Bitget SUSDT	+0.0100%	4h	0.03950	+0.025%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03950	+0.025%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03950	+0.025%	$22K	$464K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03946	−0.065%	$224K	$593K	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0256%	1h	0.03958	+0.228%	$67K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03950	+0.025%	$271K	$101K	75x	as long as short
Backpack S_USDC_PERP	+0.1292%	1h	0.03960	+0.279%	$115K	$424K	5x	as long as short