Funding arb · Price arb /

0G

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0639%/8hnext payment −$0.80 per $10,000 · paid last 24h −0.264%

Price spread now: GMX against Hyperliquid−0.120%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid 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—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and GMX is 0.120% cheaper against Hyperliquid than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid 0G	0.2304	0.0441	pay 0.0055% / 1h	6m 53s	$2.5M	$499K	3x
Short	GMX 0G/USD [WBTC.b-USDC]	0.2301	L −0.0235% / S +0.0198%	pay 0.0025% / 1h	6m 53s	$2K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Hyperliquid. 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 HyperliquidbpFee GMXbpOrdersPrice spread, now −0.120%Rate

Funding earned: −$134.22
Price spread: −0.120% → 0.000%: −$11.98
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: −$167.2
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 9 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 Hyperliquid live order book, 9 min ago	1.09 bp	24.3 bp −$24	doesn't fit	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.

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	−0.0342%	4h	0.2302	−0.074%	—	$6.5M	—	as long as short
GMX 0G/USD [WBTC.b-USDC]short	L −0.0235% / S +0.0198%	1h	0.2301	−0.120%	$2K	—	100x
Aster 0GUSDT	+0.0100%	4h	0.2302	−0.063%	$23K	$23K	5x	as long as short
Binance 0GUSDT	+0.0100%	4h	0.2301	−0.117%	$6.7M	$9.0M	50x	as long as short
Bybit 0GUSDT	+0.0100%	4h	0.2301	−0.117%	$2.2M	$2.3M	50x	as long as short
OKX 0G-USDT-SWAP	+0.0100%	4h	0.2302	−0.074%	$889K	$2.3M	20x	as long as short
Gate 0G_USDT	+0.0100%	8h	0.2298	−0.247%	$591K	$167K	50x	as long as short
MEXC 0G_USDT	+0.0100%	4h	0.2301	−0.117%	$2.0M	$204K	50x	as long as short
Bitget 0GUSDT	+0.0100%	4h	0.2301	−0.117%	$1.8M	$664K	50x	as long as short
Backpack 0G_USDC_PERP	+0.0100%	1h	0.2303	−0.030%	$37K	$50K	5x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni 0G	+0.0100%	4h	0.2299	−0.205%	$12K	$10K	—	as long as short
ApeX Omni 0GUSDT	+0.0100%	1h	0.2303	−0.009%	$18K	$626K	50x	as long as short
BloFin 0G-USDT	+0.0118%	4h	0.2305	+0.056%	$334K	$8K	50x	as long as short
KuCoin 0GUSDTM	+0.0166%	4h	0.2303	−0.026%	$2.4M	$2.6M	50x	as long as short
Hyperliquid 0Glong	+0.0441%	1h	0.2304	long leg	$2.5M	$499K	3x
Lighter 0G	+0.0456%	1h	0.2305	+0.056%	$44K	$101K	3x	as long as short