Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0651%/8h= −71.2% APRpaid last 24h −0.150%

Price spread now: GMX against Gate+0.075%7-day average +0.055% · you sell dearer than you buy

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

Long on Gate Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.513%−$51 on $10k

Price spread, last 3 days (all we have)+0.454%+$45 · spread now +0.075%, 7d avg +0.055%

Together, before fees−0.059%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.055%, so right now this pair is about funding alone: −$20 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate AR_USDT	4.4630	0.0100	pay 0.0100% / 8h	2h 12m	$2.5M	$2.3M	50x
Short	GMX AR/USD [WBTC.b-USDC]	4.4664	L −0.0140% / S +0.0551%	pay 0.0069% / 1h	12m 28s	$574K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Gate. 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 GatebpFee GMXbpOrdersPrice spread, now +0.075%Rate

Funding earned: −$136.63
Price spread: +0.075% → +0.055%: $1.99
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GMX: 6 bp × 2 orders: −$12
Net: −$161.64
Costs to cover: 0.270%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 5 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 Gate live order book, 5 min ago	5.60 bp	78.8 bp −$79	388.5 bp −$3,885	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.

AR on 17 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_ARUSD	−0.2006%	1h	4.4715	+0.190%	$46K	$155K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]short	L −0.0140% / S +0.0551%	1h	4.4664	+0.075%	$574K	—	50x
Injective AR/USDC PERP	+0.0033%	1h	4.5720	+2.442%	$3K	$363	5.5x	as long as short
Hyperliquid AR	+0.0100%	1h	4.4741	+0.249%	$3.8M	$4.8M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.4727	+0.218%	$20K	$621K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.4607	−0.051%	$8.7M	$56.0M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.4624	−0.013%	$4.6M	$9.0M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.4590	−0.090%	$2.2M	$20.5M	20x	as long as short
Gate AR_USDTlong	+0.0100%	8h	4.4630	long leg	$2.5M	$2.3M	50x
MEXC AR_USDT	+0.0100%	8h	4.4650	+0.045%	$6.8M	$4.8M	100x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ARUSDTM	+0.0100%	8h	4.4720	+0.202%	$1.4M	$1.1M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.4670	+0.090%	$3.8M	$5.6M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.4640	+0.022%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.4693	+0.141%	$137K	$172K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.4760	+0.291%	$57K	$747K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.4653	+0.051%	$36K	$237K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.4660	+0.067%	$420K	$667K	20x	as long as short