Funding arb · Price arb /

SEI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0540%/8h= −59.1% APRpaid last 24h +0.082%

Price spread now: GMX against OKX+0.109%7-day average — · you sell dearer than you buy

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

Long on OKX 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 0.109% dearer against OKX than usual: you sell high and buy low (spread +0.109% 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 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SEI-USDT-SWAP	0.05890	0.0100	pay 0.0050% / 4h	1h 38m	$3.0M	$39.7M	50x
Short	GMX SEI/USD [ETH-USDC]	0.05896	L −0.0802% / S +0.0440%	pay 0.0055% / 1h	38m 09s	$23K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against OKX. 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 OKXbpFee GMXbpOrdersPrice spread, now +0.109%Rate

Funding earned: −$113.4
Price spread: +0.109% → 0.000%: $10.87
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$124.53
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 1 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 OKX live order book, 1 min ago	0.85 bp	11.1 bp −$11	33.8 bp −$338	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	0.05896	+0.109%	$23K	—	100x
gTrade (Gains Network) SEI/USD	L −0.0005% / S +0.0006%	1h	0.05897	+0.118%	$8K	—	150x	as long as short
Deribit SEI_USDC-PERPETUAL	0.0000%	1h	0.05896	+0.102%	$20K	$62K	25x	as long as short
Variational Omni SEI	+0.0016%	8h	0.05903	+0.218%	$312K	$224K	—	as long as short
Lighter SEI	+0.0096%	1h	0.05896	+0.102%	$265K	$1.2M	10x	as long as short
Orderly PERP_SEI_USDC	+0.0099%	8h	0.05897	+0.119%	$2K	$111K	20x	as long as short
Hyperliquid SEI	+0.0100%	1h	0.05901	+0.180%	$3.4M	$6.5M	5x	as long as short
Aster SEIUSDT	+0.0100%	8h	0.05900	+0.173%	$308K	$368K	20x	as long as short
Binance SEIUSDT	+0.0100%	8h	0.05895	+0.091%	$13.7M	$126.1M	75x	as long as short
Bybit SEIUSDT	+0.0100%	8h	0.05888	−0.034%	$13.9M	$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-SWAPlong	+0.0100%	4h	0.05890	long leg	$3.0M	$39.7M	50x
Gate SEI_USDT	+0.0100%	8h	0.05897	+0.119%	$1.1M	$3.5M	75x	as long as short
MEXC SEI_USDT	+0.0100%	8h	0.05892	+0.034%	$28.8M	$26.0M	300x	as long as short
KuCoin SEIUSDTM	+0.0100%	8h	0.05895	+0.085%	$6.7M	$14.2M	75x	as long as short
Bitget SEIUSDT	+0.0100%	8h	0.05893	+0.051%	$9.3M	$17.0M	75x	as long as short
BingX SEI-USDT	+0.0100%	8h	0.05890	0.000%	—	$33.1M	—	as long as short
Backpack SEI_USDC_PERP	+0.0100%	1h	0.05896	+0.102%	$119K	$560K	10x	as long as short
GRVT SEI_USDT_Perp	+0.0100%	8h	0.05904	+0.239%	$208K	$1.5M	10x	as long as short
ApeX Omni SEIUSDT	+0.0100%	1h	0.05900	+0.170%	$107K	$667K	50x	as long as short
SunX SEI-USDT	+0.0100%	8h	0.05905	+0.255%	$22K	$4.6M	30x	as long as short
Extended SEI-USD	+0.0104%	1h	0.05892	+0.037%	$75K	$476K	25x	as long as short
Kraken Futures PF_SEIUSD	+0.0189%	1h	0.05895	+0.091%	$374K	$1.6M	50x	as long as short
Coinbase International SEI-PERP-INTX	+0.0192%	1h	0.05960	+1.188%	$33K	$209K	50x	as long as short
BloFin SEI-USDT	+0.0220%	8h	0.05899	+0.153%	$697K	$1.2M	75x	as long as short
Reya SEIRUSDPERP	+0.0346%	1h	0.05896	+0.095%	$113	—	20x	as long as short
Injective SEI/USDC PERP	+0.0864%	1h	0.05928	+0.645%	$9K	$42K	12x	as long as short
dYdX SEI-USD	+0.2672%	1h	0.05899	+0.146%	$101K	$2K	5x	as long as short