Funding arb · Price arb /

SEI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0902%/8h= +98.8% APRpaid last 24h +0.024%

Price spread now: OKX against GMX−0.082%7-day average — · you buy dearer than you sell

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

Long on GMX Short on OKX

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

Funding pays, the price is against you. OKX is 0.082% cheaper against GMX than usual: you would sell low and buy high (spread −0.082% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 7 hours of funding at the current rate (+$27 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SEI/USD [ETH-USDC]	0.05884	L −0.0802% / S +0.0440%	get 0.0100% / 1h	35m 13s	$23K	—	100x
Short	OKX SEI-USDT-SWAP	0.05879	0.0100	get 0.0050% / 4h	1h 35m	$3.0M	$39.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.082%Rate

Funding earned: $189.47
Price spread: −0.082% → 0.000%: −$8.16
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: $159.31
Costs to cover: 0.220%
Break-even: 1.1 days

Slippage unknown: GMX: no order-book sample; OKX: live order book, 3 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 OKX live order book, 3 min ago	0.85 bp	16.2 bp −$16	34.8 bp −$348	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.

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]long	L −0.0802% / S +0.0440%	1h	0.05884	long leg	$23K	—	100x
gTrade (Gains Network) SEI/USD	L −0.0005% / S +0.0006%	1h	0.05885	+0.013%	$8K	—	150x	as long as short
Deribit SEI_USDC-PERPETUAL	0.0000%	1h	0.05886	+0.037%	$20K	$62K	25x	as long as short
Variational Omni SEI	+0.0010%	8h	0.05880	−0.068%	$315K	$228K	—	as long as short
Lighter SEI	+0.0096%	1h	0.05885	+0.020%	$265K	$1.2M	10x	as long as short
Orderly PERP_SEI_USDC	+0.0099%	8h	0.05885	+0.020%	$2K	$111K	20x	as long as short
Hyperliquid SEI	+0.0100%	1h	0.05888	+0.076%	$3.4M	$6.5M	5x	as long as short
Aster SEIUSDT	+0.0100%	8h	0.05887	+0.058%	$308K	$368K	20x	as long as short
Binance SEIUSDT	+0.0100%	8h	0.05883	−0.010%	$13.7M	$126.0M	75x	as long as short
Bybit SEIUSDT	+0.0100%	8h	0.05880	−0.065%	$13.8M	$36.0M	50x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX SEI-USDT-SWAPshort	+0.0100%	4h	0.05879	−0.082%	$3.0M	$39.7M	50x
Gate SEI_USDT	+0.0100%	8h	0.05885	+0.020%	$1.1M	$3.5M	75x	as long as short
MEXC SEI_USDT	+0.0100%	8h	0.05881	−0.048%	$28.6M	$26.0M	300x	as long as short
KuCoin SEIUSDTM	+0.0100%	8h	0.05882	−0.031%	$6.7M	$14.2M	75x	as long as short
Bitget SEIUSDT	+0.0100%	8h	0.05881	−0.048%	$9.2M	$17.0M	75x	as long as short
BingX SEI-USDT	+0.0100%	8h	0.05882	−0.031%	—	$33.1M	—	as long as short
Backpack SEI_USDC_PERP	+0.0100%	1h	0.05884	+0.003%	$118K	$561K	10x	as long as short
GRVT SEI_USDT_Perp	+0.0100%	8h	0.05885	+0.020%	$201K	$1.5M	10x	as long as short
ApeX Omni SEIUSDT	+0.0100%	1h	0.05900	+0.275%	$107K	$667K	50x	as long as short
SunX SEI-USDT	+0.0100%	8h	0.05893	+0.156%	$22K	$4.6M	30x	as long as short
Extended SEI-USD	+0.0104%	1h	0.05884	+0.004%	$75K	$476K	25x	as long as short
Kraken Futures PF_SEIUSD	+0.0190%	1h	0.05883	−0.014%	$373K	$1.6M	50x	as long as short
Coinbase International SEI-PERP-INTX	+0.0192%	1h	0.05960	+1.295%	$33K	$209K	50x	as long as short
BloFin SEI-USDT	+0.0220%	8h	0.05887	+0.054%	$698K	$1.2M	75x	as long as short
Reya SEIRUSDPERP	+0.0346%	1h	0.05886	+0.035%	$112	—	20x	as long as short
Injective SEI/USDC PERP	+0.0864%	1h	0.05873	−0.184%	$8K	$42K	12x	as long as short
dYdX SEI-USD	+0.2661%	1h	0.05884	−0.004%	$100K	$2K	5x	as long as short