Funding arb · Price arb /

STX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0213%/8h= +23.3% APRpaid last 24h +0.083%

Price spread now: GMX against Bybit+0.153%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

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and GMX is 0.153% dearer against Bybit than usual: you sell high and buy low: +$15 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit STXUSDT	0.3429	0.0100	pay 0.0100% / 8h	2h 35m	$8.8M	$7.5M	75x
Short	GMX STX/USD [WBTC.b-USDC]	0.3434	L +0.0191% / S −0.0313%	get 0.0039% / 1h	35m 03s	$5K	—	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 +0.153%Rate

Funding earned: $44.72
Price spread: +0.153% → 0.000%: $15.34
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: $37.06
Costs to cover: 0.230%
Break-even: 1.2 days

Slippage unknown: Bybit: live order book, 3 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, 3 min ago	1.46 bp	26.4 bp −$26	67.1 bp −$671	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.

STX on 18 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_STXUSD	−0.1359%	1h	0.3433	+0.128%	$76K	$159K	20x	as long as short
Variational Omni STX	−0.0594%	8h	0.3422	−0.193%	$813K	$307K	—	as long as short
gTrade (Gains Network) STX/USD	L −0.0002% / S +0.0003%	1h	0.3431	+0.048%	—	—	150x	as long as short
Injective STX/USDC PERP	+0.0033%	1h	0.3441	+0.350%	$4K	$148K	12x	as long as short
BloFin STX-USDT	+0.0097%	8h	0.3430	+0.029%	$434K	$243K	20x	as long as short
Aster STXUSDT	+0.0100%	8h	0.3431	+0.057%	$128K	$67K	10x	as long as short
Binance STXUSDT	+0.0100%	8h	0.3433	+0.106%	$8.1M	$20.3M	75x	as long as short
Bybit STXUSDTlong	+0.0100%	8h	0.3429	long leg	$8.8M	$7.5M	75x
OKX STX-USDT-SWAP	+0.0100%	8h	0.3432	+0.087%	$2.4M	$6.7M	20x	as long as short
Gate STX_USDT	+0.0100%	8h	0.3428	−0.029%	$602K	$441K	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC STX_USDT	+0.0100%	8h	0.3431	+0.058%	$6.3M	$1.5M	50x	as long as short
KuCoin STXUSDTM	+0.0100%	8h	0.3430	+0.029%	$2.4M	$1.8M	50x	as long as short
Bitget STXUSDT	+0.0100%	8h	0.3430	+0.029%	$4.9M	$1.9M	50x	as long as short
BingX STX-USDT	+0.0100%	8h	0.3430	+0.029%	—	$15.8M	—	as long as short
ApeX Omni STXUSDT	+0.0100%	1h	0.3436	+0.204%	$58K	$678K	50x	as long as short
Extended STX-USD	+0.0104%	1h	0.3432	+0.093%	$181K	$585K	10x	as long as short
GMX STX/USD [WBTC.b-USDC]short	L +0.0191% / S −0.0313%	1h	0.3434	+0.153%	$5K	—	100x
Hyperliquid STX	+0.0404%	1h	0.3438	+0.277%	$1.5M	$1.0M	5x	as long as short