Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0335%/8h= +36.7% APRpaid last 24h +0.095%

Price spread now: Bitget against GMX+0.032%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Bitget

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 +$10 a day on $10k at the current rate, and Bitget is 0.032% dearer against GMX than usual: you sell high and buy low: +$3 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	GMX 0G/USD [WBTC.b-USDC]	0.2364	L −0.0235% / S +0.0198%	get 0.0029% / 1h	3m 36s	$2K	—	100x
Short	Bitget 0GUSDT	0.2365	0.0100	get 0.0050% / 4h	1h 03m	$2.0M	$801K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.032%Rate

Funding earned: $70.34
Price spread: +0.032% → 0.000%: $3.21
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: $49.55
Costs to cover: 0.240%
Break-even: 2.1 days

Slippage unknown: GMX: no order-book sample; Bitget: 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 Bitget live order book, 3 min ago	4.22 bp	28.1 bp −$28	55.5 bp −$555	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.

0G on 16 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
BingX 0G-USDT	−0.0472%	4h	0.2364	−0.010%	—	$6.5M	—	as long as short
GMX 0G/USD [WBTC.b-USDC]long	L −0.0235% / S +0.0198%	1h	0.2364	long leg	$2K	—	100x
Aster 0GUSDT	+0.0100%	4h	0.2365	+0.040%	$17K	$46K	5x	as long as short
Binance 0GUSDT	+0.0100%	4h	0.2365	+0.052%	$7.0M	$8.6M	50x	as long as short
Bybit 0GUSDT	+0.0100%	4h	0.2362	−0.095%	$2.4M	$2.3M	50x	as long as short
OKX 0G-USDT-SWAP	+0.0100%	4h	0.2363	−0.052%	$859K	$2.4M	20x	as long as short
Gate 0G_USDT	+0.0100%	8h	0.2365	+0.032%	$611K	$213K	50x	as long as short
MEXC 0G_USDT	+0.0100%	4h	0.2365	+0.032%	$2.1M	$252K	50x	as long as short
KuCoin 0GUSDTM	+0.0100%	4h	0.2365	+0.045%	$2.3M	$2.3M	50x	as long as short
Bitget 0GUSDTshort	+0.0100%	4h	0.2365	+0.032%	$2.0M	$801K	50x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack 0G_USDC_PERP	+0.0100%	1h	0.2365	+0.032%	$32K	$60K	5x	as long as short
Variational Omni 0G	+0.0100%	4h	0.2364	−0.028%	$15K	$6K	—	as long as short
ApeX Omni 0GUSDT	+0.0100%	1h	0.2367	+0.138%	$17K	$625K	50x	as long as short
BloFin 0G-USDT	+0.0124%	4h	0.2365	+0.032%	$327K	$10K	50x	as long as short
Hyperliquid 0G	+0.0536%	1h	0.2370	+0.244%	$2.5M	$448K	3x	as long as short
Lighter 0G	+0.0752%	1h	0.2370	+0.244%	$49K	$88K	3x	as long as short