Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0288%/8h= −31.6% APRpaid last 24h −0.090%

Price spread now: GMX against MEXC+0.043%7-day average — · you sell dearer than you buy

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

Long on MEXC 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 0.043% dearer against MEXC than usual: you sell high and buy low (spread +0.043% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC S_USDT	0.03928	0.0100	pay 0.0050% / 4h	1h 35m	$3.6M	$2.3M	200x
Short	GMX S/USD [WBTC.b-USDC]	0.03930	L −0.0195% / S +0.0188%	pay 0.0024% / 1h	35m 27s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against MEXC. 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 MEXCbpFee GMXbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$60.55
Price spread: +0.043% → 0.000%: $4.33
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee GMX: 6 bp × 2 orders: −$12
Net: −$72.22
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: MEXC: 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 MEXC live order book, 2 min ago	2.55 bp	7.0 bp −$7	43.7 bp −$437	258.9 bp −$25.9K	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
Kraken Futures PF_SUSD	−0.1592%	1h	0.03926	−0.061%	$33K	$26K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−2.597%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0880%	4h	0.03922	−0.152%	$610K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]short	L −0.0195% / S +0.0188%	1h	0.03930	+0.043%	$1K	—	100x
Reya SRUSDPERP	−0.0101%	1h	0.03926	−0.043%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03930	+0.051%	$606	—	150x	as long as short
Orderly PERP_S_USDC	+0.0025%	4h	0.03930	+0.051%	$100K	$346K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.379%	$2K	$37K	12x	as long as short
01 Exchange SUSD	+0.0048%	1h	0.03930	+0.051%	$24K	$2K	5x	as long as short
Aster SUSDT	+0.0074%	4h	0.03928	−0.008%	$43K	$212K	10x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter S	+0.0096%	1h	0.03928	0.000%	$165K	$222K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03929	+0.018%	$986K	$757K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03930	+0.051%	$5.4M	$19.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03922	−0.153%	$5.6M	$5.8M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03926	−0.051%	$978K	$6.2M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03930	+0.051%	$321K	$265K	50x	as long as short
MEXC S_USDTlong	+0.0100%	4h	0.03928	long leg	$3.6M	$2.3M	200x
KuCoin SUSDTM	+0.0100%	4h	0.03926	−0.051%	$1.8M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03930	+0.051%	$1.2M	$2.7M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03927	−0.025%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03940	+0.305%	$25K	$465K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03926	−0.061%	$221K	$881K	10x	as long as short
Backpack S_USDC_PERP	+0.0337%	1h	0.03930	+0.051%	$114K	$300K	5x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03941	+0.331%	$268K	$127K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0769%	1h	0.03929	+0.025%	$66K	$10K	10x	as long as short