Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0586%/8h= −64.2% APRpaid last 24h −0.155%

Price spread now: GMX against OKX+0.112%7-day average +0.110% · you sell dearer than you buy

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

Long on OKX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.591%−$59 on $10k

Price spread, last 3 days (all we have)+0.261%+$26 · spread now +0.112%, 7d avg +0.110%

Together, before fees−0.331%−$33 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.110%, so right now this pair is about funding alone: −$18 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AR-USDT-SWAP	4.5660	0.0036	pay 0.0036% / 8h	1h 05m	$2.4M	$20.8M	20x
Short	GMX AR/USD [WBTC.b-USDC]	4.5711	L −0.0140% / S +0.0551%	pay 0.0069% / 1h	5m 02s	$587K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against OKX. 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 OKXbpFee GMXbpOrdersPrice spread, now +0.112%Rate

Funding earned: −$123.16
Price spread: +0.112% → +0.110%: $0.26
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$144.9
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: OKX: 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 OKX live order book, 3 min ago	1.09 bp	22.6 bp −$23	181.3 bp −$1,813	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	−0.1894%	1h	4.5678	+0.039%	$46K	$157K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]short	L −0.0140% / S +0.0551%	1h	4.5711	+0.112%	$587K	—	50x
Injective AR/USDC PERP	+0.0033%	1h	4.5720	+0.131%	$3K	$339	5.5x	as long as short
OKX AR-USDT-SWAPlong	+0.0036%	8h	4.5660	long leg	$2.4M	$20.8M	20x
Extended AR-USD	+0.0072%	1h	4.5671	+0.024%	$37K	$237K	10x	as long as short
MEXC AR_USDT	+0.0073%	8h	4.5680	+0.044%	$6.9M	$4.6M	100x	as long as short
Binance ARUSDT	+0.0074%	8h	4.5690	+0.066%	$9.0M	$55.7M	75x	as long as short
Hyperliquid AR	+0.0100%	1h	4.5768	+0.237%	$4.1M	$4.9M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.5672	+0.026%	$20K	$615K	10x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.5667	+0.015%	$4.7M	$8.9M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AR_USDT	+0.0100%	8h	4.5720	+0.131%	$2.6M	$2.3M	50x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.5710	+0.110%	$1.4M	$1.2M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.5730	+0.153%	$3.9M	$5.6M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.5660	0.000%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.5729	+0.151%	$139K	$173K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.5820	+0.350%	$58K	$749K	50x	as long as short
BloFin AR-USDT	+0.0194%	8h	4.5680	+0.044%	$427K	$673K	20x	as long as short