Funding arb · Price arb /

TIA

all TIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0267%/8h= −29.2% APRpaid last 24h +0.541%

Price spread now: GMX against Bybit+0.053%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 4 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 0.053% dearer against Bybit than usual: you sell high and buy low (spread +0.053% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$8 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	Bybit TIAUSDT	0.4500	0.0100	pay 0.0050% / 4h	3h 10m	$10.2M	$14.6M	50x
Short	GMX TIA/USD [ETH-USDC]	0.4502	L −0.3558% / S +0.0167%	pay 0.0021% / 1h	10m 05s	$6K	—	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 +0.053%Rate

Funding earned: −$56
Price spread: +0.053% → 0.000%: $5.33
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: −$73.67
Costs to cover: 0.230%
Break-even: never at this rate

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	1.11 bp	12.0 bp −$12	36.1 bp −$361	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.

TIA 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 TIA/USD [ETH-USDC]short	L −0.3558% / S +0.0167%	1h	0.4502	+0.053%	$6K	—	100x
Kraken Futures PF_TIAUSD	−0.0111%	1h	0.4507	+0.156%	$355K	$204K	50x	as long as short
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4502	+0.044%	$31K	$21K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4508	+0.178%	$1K	—	150x	as long as short
Injective TIA/USDC PERP	+0.0048%	1h	0.4518	+0.400%	$81K	$157K	12x	as long as short
ApeX Omni TIAUSDT	+0.0051%	1h	0.4514	+0.311%	$52K	$225K	50x	as long as short
OKX TIA-USDT-SWAP	+0.0057%	4h	0.4499	−0.022%	$2.8M	$7.0M	50x	as long as short
Lighter TIA	+0.0096%	1h	0.4510	+0.229%	$195K	$469K	10x	as long as short
Orderly PERP_TIA_USDC	+0.0098%	4h	0.4500	0.000%	$7K	$210K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4510	+0.222%	$4.9M	$1.5M	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TIAUSDT	+0.0100%	4h	0.4506	+0.132%	$33K	$249K	10x	as long as short
Binance TIAUSDT	+0.0100%	4h	0.4503	+0.061%	$14.6M	$49.4M	75x	as long as short
Bybit TIAUSDTlong	+0.0100%	4h	0.4500	long leg	$10.2M	$14.6M	50x
Gate TIA_USDT	+0.0100%	4h	0.4504	+0.089%	$1.0M	$1.9M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4504	+0.089%	$11.2M	$14.6M	300x	as long as short
KuCoin TIAUSDTM	+0.0100%	4h	0.4502	+0.044%	$4.3M	$10.2M	50x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4500	0.000%	$4.5M	$4.1M	75x	as long as short
BingX TIA-USDT	+0.0100%	4h	0.4502	+0.044%	—	$14.0M	—	as long as short
Backpack TIA_USDC_PERP	+0.0100%	1h	0.4503	+0.078%	$104K	$170K	10x	as long as short
Variational Omni TIA	+0.0100%	4h	0.4506	+0.128%	$138K	$77K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4504	+0.089%	$60K	$76K	50x	as long as short
dYdX TIA-USD	+0.0101%	1h	0.4504	+0.094%	$53K	$139	10x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4500	−0.004%	$57K	$211K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4503	+0.067%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0182%	1h	0.4505	+0.107%	$6K	—	15x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4507	+0.156%	$1.7M	$771K	75x	as long as short
Coinbase International TIA-PERP-INTX	+0.0416%	1h	0.4521	+0.467%	$54K	$104K	50x	as long as short