Funding arb · Price arb /

AR

all AR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.069%

Price spread now: Bitget against GMX−0.173%7-day average −0.091% · you buy dearer than you sell

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)+0.349%+$35 on $10k

Price spread, last 4 days (all we have)−0.069%−$7 · spread now −0.173%, 7d avg −0.091%

Together, before fees+0.280%+$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.082% cheaper against GMX than usual: you would sell low and buy high (spread −0.173% now, against its 7-day average of −0.091%). If the spread goes back, that is −$8 on $10k: about 27 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AR/USD [WBTC.b-USDC]	4.2944	L −0.0140% / S +0.0550%	get 0.0018% / 1h	31m 07s	$551K	—	50x
Short	Bitget ARUSDT	4.2870	0.0100	get 0.0100% / 8h	1h 31m	$3.7M	$5.3M	75x

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 −0.173%Rate

Funding earned: $50.47
Price spread: −0.173% → −0.091%: −$8.2
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: $18.27
Costs to cover: 0.240%
Break-even: 4.5 days

Slippage unknown: GMX: no order-book sample; Bitget: live order book, 2 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, 2 min ago	3.49 bp	16.1 bp −$16	91.7 bp −$917	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.

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	−0.2628%	1h	4.2953	+0.021%	$53K	$183K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]long	L −0.0140% / S +0.0550%	1h	4.2944	long leg	$551K	—	50x
Injective AR/USDC PERP	+0.0033%	1h	4.4240	+3.017%	$2K	$5K	5.5x	as long as short
Hyperliquid AR	+0.0100%	1h	4.2932	−0.029%	$3.7M	$4.9M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.2908	−0.085%	$42K	$443K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.2866	−0.182%	$8.6M	$50.8M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.2904	−0.094%	$4.3M	$9.1M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.2830	−0.266%	$2.2M	$16.8M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.2840	−0.243%	$2.0M	$3.4M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.2890	−0.127%	$6.2M	$4.3M	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	4.2860	−0.197%	$1.1M	$1.3M	50x	as long as short
Bitget ARUSDTshort	+0.0100%	8h	4.2870	−0.173%	$3.7M	$5.3M	75x
BingX AR-USDT	+0.0100%	8h	4.2880	−0.150%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.2568	−0.878%	$245K	$588K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.2850	−0.220%	$21K	$712K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.2922	−0.053%	$36K	$239K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.2970	+0.060%	$411K	$451K	20x	as long as short