Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0171%/8h= +18.7% APRpaid last 24h +0.005%

Price spread now: GMX against BloFin−0.046%7-day average +0.013% · you buy dearer than you sell

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

Long on BloFin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.034%+$3 on $10k

Price spread, last 3 days (all we have)−0.131%−$13 · spread now −0.046%, 7d avg +0.013%

Together, before fees−0.097%−$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.060% cheaper against BloFin than usual: you would sell low and buy high (spread −0.046% now, against its 7-day average of +0.013%). If the spread goes back, that is −$6 on $10k: about 28 hours of funding at the current rate (+$5 a day). At the pace of the last 3 days (+0.034% in total) that is about 5.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ARB-USDT	0.2280	0.0007	pay 0.0007% / 8h	45m 07s	$3.1M	$2.8M	75x
Short	GMX ARB/USD [ARB-USDC]	0.2279	L +0.0291% / S −0.0178%	get 0.0022% / 1h	45m 07s	$910K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BloFin. 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 BloFinbpFee GMXbpOrdersPrice spread, now −0.046%Rate

Funding earned: $35.9
Price spread: −0.046% → +0.013%: −$5.95
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $5.94
Costs to cover: 0.240%
Break-even: 5.8 days

Slippage unknown: BloFin: 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 BloFin live order book, 3 min ago	5.02 bp	14.1 bp −$14	31.4 bp −$314	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.

ARB on 36 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
Injective ARB/USDC PERP	−0.1785%	1h	0.2264	−0.689%	$41K	$372K	12x	as long as short
Polymarket Perps ARB-USD	−0.0295%	1h	0.2275	−0.197%	$79K	$2.0M	10x	as long as short
Variational Omni ARB	−0.0182%	8h	0.2277	−0.124%	$1.9M	$2.7M	—	as long as short
01 Exchange ARBUSD	−0.0160%	1h	0.2276	−0.184%	$7K	$2K	10x	as long as short
Bybit ARBUSDT	−0.0160%	8h	0.2276	−0.149%	$58.6M	$129.2M	50x	as long as short
OKX ARB-USDT-SWAP	−0.0108%	8h	0.2277	−0.132%	$23.0M	$161.3M	50x	as long as short
MEXC ARB_USDT	−0.0107%	8h	0.2277	−0.114%	$38.3M	$59.5M	200x	as long as short
SoDEX ARB-USD	−0.0040%	1h	0.2278	−0.070%	$4K	$2.6M	5x	as long as short
Orderly PERP_ARB_USDC	−0.0040%	8h	0.2278	−0.075%	$13K	$397K	10x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2278	−0.088%	$67K	$4K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended ARB-USD	0.0000%	1h	0.2277	−0.107%	$363K	$2.3M	25x	as long as short
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2279	−0.018%	$26K	$32K	25x	as long as short
Binance ARBUSDT	+0.0002%	8h	0.2278	−0.061%	$66.6M	$314.9M	75x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0005%	1h	0.2279	−0.044%	$56K	—	150x	as long as short
BloFin ARB-USDTlong	+0.0007%	8h	0.2280	long leg	$3.1M	$2.8M	75x
Gate ARB_USDT	+0.0029%	8h	0.2277	−0.105%	$5.5M	$20.1M	60x	as long as short
BingX ARB-USDT	+0.0068%	8h	0.2277	−0.114%	—	$53.4M	—	as long as short
Bitget ARBUSDT	+0.0070%	8h	0.2278	−0.075%	$21.5M	$36.7M	50x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2280	+0.001%	$149K	$12K	3x	as long as short
Lighter ARB	+0.0096%	1h	0.2280	−0.009%	$1.4M	$7.4M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2281	+0.057%	$41.4M	$48.0M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2278	−0.081%	$709K	$1.6M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2278	−0.092%	$48K	$187K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2278	−0.066%	$19.9M	$16.3M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2299	+0.834%	$41K	$462K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2299	+0.866%	$490K	$3.7M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2286	+0.276%	$123K	$295K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2279	−0.031%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2278	−0.061%	$293K	$1.1M	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2282	+0.101%	$5.3M	$13.3M	50x	as long as short
Coinbase International ARB-PERP-INTX	+0.0216%	1h	0.2280	+0.013%	$512K	$2.3M	50x	as long as short
Kraken Futures PF_ARBUSD	+0.0235%	1h	0.2279	−0.027%	$1.2M	$4.9M	50x	as long as short
Reya ARBRUSDPERP	+0.0290%	1h	0.2275	−0.202%	$2K	$695	20x	as long as short
GMX ARB/USD [ARB-USDC]short	L +0.0291% / S −0.0178%	1h	0.2279	−0.046%	$910K	—	150x
RISEx ARB/USDC	+0.0330%	1h	0.2277	−0.104%	$503K	$2.7M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0479%	1h	0.2281	+0.048%	$931K	$2.8M	20x	as long as short