AR

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.2270%/8h= −248.6% APRnext payment −$2.84 per $10,000 · paid last 24h −0.309%

Price spread now: Kraken Futures against GMX+0.300%7-day average +0.067% · you sell dearer than you buy

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

Long on GMX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.169%+$17 on $10k

Price spread, last 3 days (all we have)−0.687%−$69 · spread now +0.300%, 7d avg +0.067%

Together, before fees−0.518%−$52 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.233% dearer against GMX than usual: you sell high and buy low (spread +0.300% now, against its 7-day average of +0.067%): +$23 on $10k if it goes back. Holding the pair costs −$68 a day in funding at the current rate, which eats that in about 8 hours. Mind the row above: over the last 3 days funding on this pair paid +0.169%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.169% in total (about 19.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.84 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AR/USD [WBTC.b-USDC]	4.5668	L −0.0140% / S +0.0551%	get 0.0018% / 1h	1m 55s	$587K	—	50x
Short	Kraken Futures PF_ARUSD	4.5805	−0.2411	pay 0.0301% / 1h	1m 55s	$56K	$148K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.300%Rate

Funding earned: −$476.79
Price spread: +0.300% → +0.067%: $23.33
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$475.46
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Kraken Futures: live order book, 5 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 Kraken Futures live order book, 5 min ago	42.15 bp	54.4 bp −$54	doesn't fit	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_ARUSDshort	−0.2411%	1h	4.5805	+0.300%	$56K	$148K	20x
OKX AR-USDT-SWAP	−0.0149%	8h	4.5600	−0.150%	$2.3M	$19.6M	20x	as long as short
GMX AR/USD [WBTC.b-USDC]long	L −0.0140% / S +0.0551%	1h	4.5668	long leg	$587K	—	50x
Binance ARUSDT	+0.0005%	8h	4.5640	−0.063%	$9.1M	$53.1M	75x	as long as short
MEXC AR_USDT	+0.0006%	8h	4.5640	−0.062%	$6.5M	$4.5M	100x	as long as short
Extended AR-USD	+0.0008%	1h	4.5629	−0.086%	$37K	$240K	10x	as long as short
BloFin AR-USDT	+0.0024%	8h	4.5730	+0.135%	$437K	$536K	20x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.6110	+0.967%	$2K	$2K	5.5x	as long as short
Hyperliquid AR	+0.0100%	1h	4.5725	+0.124%	$4.2M	$4.8M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.5702	+0.074%	$26K	$501K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ARUSDT	+0.0100%	8h	4.5610	−0.128%	$4.6M	$8.4M	75x	as long as short
Gate AR_USDT	+0.0100%	8h	4.5650	−0.040%	$2.6M	$2.2M	50x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.5630	−0.084%	$1.4M	$1.2M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.5600	−0.150%	$3.9M	$5.5M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.5650	−0.040%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.5907	+0.522%	$143K	$165K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.6060	+0.858%	$23K	$742K	50x	as long as short