Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0651%/8h= −71.3% APRpaid last 24h −0.181%

Price spread now: GMX against KuCoin−0.040%7-day average +0.052% · you buy dearer than you sell

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

Long on KuCoin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.686%−$69 on $10k

Price spread, last 4 days (all we have)+0.315%+$31 · spread now −0.040%, 7d avg +0.052%

Together, before fees−0.371%−$37 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and GMX is 0.092% cheaper against KuCoin than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.052%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ARUSDTM	4.3510	0.0100	pay 0.0100% / 8h	2h 46m	$1.1M	$1.3M	50x
Short	GMX AR/USD [WBTC.b-USDC]	4.3493	L −0.0141% / S +0.0551%	pay 0.0069% / 1h	46m 45s	$559K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against KuCoin. 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 KuCoinbpFee GMXbpOrdersPrice spread, now −0.040%Rate

Funding earned: −$136.68
Price spread: −0.040% → +0.052%: −$9.17
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$169.85
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 3 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 KuCoin live order book, 3 min ago	6.86 bp	106.8 bp −$107	827.7 bp −$8,277	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	−0.0886%	1h	4.3474	−0.082%	$56K	$147K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]short	L −0.0141% / S +0.0551%	1h	4.3493	−0.040%	$559K	—	50x
Hyperliquid AR	+0.0100%	1h	4.3545	+0.080%	$3.7M	$4.4M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.3533	+0.053%	$30K	$453K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.3532	+0.050%	$8.5M	$49.9M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.3520	+0.023%	$4.4M	$8.4M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.3530	+0.046%	$2.2M	$16.9M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.3520	+0.023%	$2.4M	$1.9M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.3530	+0.046%	$6.1M	$4.1M	100x	as long as short
KuCoin ARUSDTMlong	+0.0100%	8h	4.3510	long leg	$1.1M	$1.3M	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ARUSDT	+0.0100%	8h	4.3480	−0.069%	$3.8M	$5.2M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.3520	+0.023%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.3757	+0.568%	$242K	$424K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.3790	+0.644%	$19K	$709K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.3518	+0.019%	$35K	$248K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.3540	+0.069%	$410K	$468K	20x	as long as short
Injective AR/USDC PERP	+0.0666%	1h	4.4240	+1.678%	$2K	$5K	5.5x	as long as short