Funding arb · Price arb /

SEI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0540%/8h= −59.1% APRpaid last 24h +0.082%

Price spread now: GMX against Bybit+0.112%7-day average — · you sell dearer than you buy

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

Long on Bybit 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 0.112% dearer against Bybit than usual: you sell high and buy low (spread +0.112% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 17 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SEIUSDT	0.05917	0.0100	pay 0.0100% / 8h	57m 13s	$14.0M	$36.1M	50x
Short	GMX SEI/USD [ETH-USDC]	0.05924	L −0.0802% / S +0.0440%	pay 0.0055% / 1h	57m 13s	$23K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bybit. 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 BybitbpFee GMXbpOrdersPrice spread, now +0.112%Rate

Funding earned: −$113.4
Price spread: +0.112% → 0.000%: $11.15
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: −$125.25
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: Bybit: 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 Bybit live order book, 2 min ago	0.85 bp	10.1 bp −$10	22.9 bp −$229	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.

SEI on 27 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
GMX SEI/USD [ETH-USDC]short	L −0.0802% / S +0.0440%	1h	0.05924	+0.112%	$23K	—	100x
gTrade (Gains Network) SEI/USD	L −0.0005% / S +0.0006%	1h	0.05923	+0.110%	$8K	—	150x	as long as short
Variational Omni SEI	−0.0004%	8h	0.05885	−0.537%	$311K	$232K	—	as long as short
Deribit SEI_USDC-PERPETUAL	0.0000%	1h	0.05924	+0.118%	$20K	$62K	25x	as long as short
Lighter SEI	+0.0096%	1h	0.05926	+0.152%	$267K	$1.2M	10x	as long as short
Orderly PERP_SEI_USDC	+0.0099%	8h	0.05924	+0.118%	$2K	$110K	20x	as long as short
Hyperliquid SEI	+0.0100%	1h	0.05926	+0.152%	$3.4M	$6.5M	5x	as long as short
Aster SEIUSDT	+0.0100%	8h	0.05924	+0.114%	$309K	$368K	20x	as long as short
Binance SEIUSDT	+0.0100%	8h	0.05924	+0.118%	$13.7M	$125.7M	75x	as long as short
Bybit SEIUSDTlong	+0.0100%	8h	0.05917	long leg	$14.0M	$36.1M	50x

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX SEI-USDT-SWAP	+0.0100%	4h	0.05921	+0.068%	$3.0M	$39.8M	50x	as long as short
Gate SEI_USDT	+0.0100%	8h	0.05919	+0.034%	$1.1M	$3.5M	75x	as long as short
MEXC SEI_USDT	+0.0100%	8h	0.05922	+0.085%	$29.0M	$25.3M	300x	as long as short
KuCoin SEIUSDTM	+0.0100%	8h	0.05924	+0.118%	$6.7M	$14.1M	75x	as long as short
Bitget SEIUSDT	+0.0100%	8h	0.05923	+0.101%	$9.3M	$16.9M	75x	as long as short
BingX SEI-USDT	+0.0100%	8h	0.05920	+0.051%	—	$33.2M	—	as long as short
GRVT SEI_USDT_Perp	+0.0100%	8h	0.05898	−0.329%	$209K	$1.5M	10x	as long as short
ApeX Omni SEIUSDT	+0.0100%	1h	0.05900	−0.287%	$107K	$668K	50x	as long as short
SunX SEI-USDT	+0.0100%	8h	0.05931	+0.237%	$22K	$4.6M	30x	as long as short
Extended SEI-USD	+0.0104%	1h	0.05924	+0.115%	$75K	$476K	25x	as long as short
BloFin SEI-USDT	+0.0220%	8h	0.05924	+0.118%	$697K	$1.2M	75x	as long as short
Backpack SEI_USDC_PERP	+0.0299%	1h	0.05922	+0.085%	$119K	$563K	10x	as long as short
Kraken Futures PF_SEIUSD	+0.0324%	1h	0.05924	+0.125%	$374K	$1.6M	50x	as long as short
Coinbase International SEI-PERP-INTX	+0.0328%	1h	0.05920	+0.051%	$33K	$208K	50x	as long as short
Reya SEIRUSDPERP	+0.0346%	1h	0.05923	+0.104%	$113	—	20x	as long as short
Injective SEI/USDC PERP	+0.1153%	1h	0.05950	+0.558%	$9K	$42K	12x	as long as short
dYdX SEI-USD	+0.3105%	1h	0.05919	+0.027%	$101K	$2K	5x	as long as short