Funding you earn now, next payment 11:00 UTC+0.0398%/8h= +43.5% APRnext payment +$0.50 per $10,000 · paid last 24h +0.029%
Price spread now: GMX against Kraken Futures0.000%7-day average −0.039% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.109%+$11 on $10k
+Price spread, last 4 days (all we have)−0.399%−$40 · spread now 0.000%, 7d avg −0.039%
=Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and GMX is 0.039% dearer against Kraken Futures than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.039%.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.109% in total (about 11.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.50 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_ARBUSD | 0.2182 | −0.0231 | get 0.0029% / 1h | 46m 43s | $1.1M | $4.1M | 50x |
| Short | GMX ARB/USD [ARB-USDC] | 0.2182 | L +0.0282% / S −0.0167% | get 0.0021% / 1h | 46m 43s | $846K | — | 150x |
Kraken Futures PF_ARBUSD
GMX ARB/USD [ARB-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX against Kraken Futures. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $83.49
- Price spread: 0.000% → −0.039%
- $3.91
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- $65.4
- Costs to cover
- 0.220%
- Break-even
- 1.5 days
Slippage unknown: Kraken Futures: live order book, 5 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 Kraken Futures live order book, 5 min ago | 4.57 bp | 10.9 bp −$11 | 19.0 bp −$190 | 877.9 bp −$87.8K | 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 exchanges
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 | −0.1736% | 1h | 0.2177 | −0.208% | $39K | $372K | 12x | as long as short |
| Kraken Futures PF_ARBUSDlong | −0.0231% | 1h | 0.2182 | long leg | $1.1M | $4.1M | 50x | |
| SoDEX ARB-USD | −0.0221% | 1h | 0.2181 | −0.043% | $9K | $2.2M | 5x | as long as short |
| Bybit ARBUSDT | −0.0217% | 8h | 0.2181 | −0.043% | $53.8M | $121.6M | 50x | as long as short |
| OKX ARB-USDT-SWAP | −0.0145% | 8h | 0.2181 | −0.025% | $22.8M | $141.2M | 50x | as long as short |
| MEXC ARB_USDT | −0.0144% | 8h | 0.2181 | −0.039% | $44.3M | $61.1M | 200x | as long as short |
| 01 Exchange ARBUSD | −0.0136% | 1h | 0.2178 | −0.140% | $7K | $414 | 10x | as long as short |
| Deribit ARB_USDC-PERPETUAL | −0.0071% | 1h | 0.2181 | −0.016% | $29K | $36K | 25x | as long as short |
| Extended ARB-USD | −0.0040% | 1h | 0.2180 | −0.049% | $362K | $3.0M | 25x | as long as short |
| Binance ARBUSDT | −0.0040% | 8h | 0.2181 | −0.016% | $63.9M | $288.0M | 75x | as long as short |
Injective ARB/USDC PERP
SoDEX ARB-USD
Bybit ARBUSDT
OKX ARB-USDT-SWAP
MEXC ARB_USDT
01 Exchange ARBUSD
Deribit ARB_USDC-PERPETUAL
Extended ARB-USD
Binance ARBUSDTShow all 36 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni ARB | −0.0033% | 8h | 0.2182 | +0.021% | $1.8M | $2.6M | — | as long as short |
| Orderly PERP_ARB_USDC | −0.0018% | 8h | 0.2180 | −0.071% | $16K | $406K | 10x | as long as short |
| Polymarket Perps ARB-USD | −0.0006% | 1h | 0.2180 | −0.089% | $73K | $1.9M | 10x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2183 | +0.087% | $64K | $3K | 10x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0006% | 1h | 0.2181 | −0.012% | $73K | — | 150x | as long as short |
| Gate ARB_USDT | +0.0032% | 8h | 0.2182 | −0.002% | $5.5M | $16.3M | 60x | as long as short |
| Phemex ARBUSDT | +0.0065% | 8h | 0.2180 | −0.071% | $4.7M | $12.6M | 50x | as long as short |
| Aevo ARB-PERP | +0.0072% | 1h | 0.2182 | −0.002% | $138K | $7K | 3x | as long as short |
| ApeX Omni ARBUSDT | +0.0072% | 1h | 0.2185 | +0.158% | $118K | $310K | 50x | as long as short |
| BloFin ARB-USDT | +0.0082% | 8h | 0.2180 | −0.062% | $3.0M | $2.1M | 75x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2182 | +0.044% | $1.3M | $5.3M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2183 | +0.062% | $35.6M | $49.6M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2182 | −0.002% | $624K | $1.6M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2183 | +0.069% | $54K | $154K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2182 | +0.016% | $18.9M | $13.4M | 75x | as long as short |
| Bitget ARBUSDT | +0.0100% | 8h | 0.2182 | +0.021% | $20.9M | $33.4M | 50x | as long as short |
| BingX ARB-USDC | +0.0100% | 8h | 0.2180 | −0.085% | — | $6.5M | — | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2183 | +0.089% | $40K | $466K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2182 | +0.038% | $468K | $3.3M | 10x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2183 | +0.067% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2180 | −0.057% | $295K | $813K | 50x | as long as short |
| Backpack ARB_USDC_PERP | +0.0132% | 1h | 0.2183 | +0.067% | $973K | $2.7M | 20x | as long as short |
| RISEx ARB/USDC | +0.0271% | 1h | 0.2183 | +0.076% | $539K | $2.4M | 10x | as long as short |
| GMX ARB/USD [ARB-USDC]short | L +0.0282% / S −0.0167% | 1h | 0.2182 | 0.000% | $846K | — | 150x | |
| Reya ARBRUSDPERP | +0.0288% | 1h | 0.2179 | −0.106% | $2K | $695 | 20x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0424% | 1h | 0.2184 | +0.108% | $521K | $1.4M | 50x | as long as short |
Variational Omni ARB
Orderly PERP_ARB_USDC
Polymarket Perps ARB-USD
dYdX ARB-USD
gTrade (Gains Network) ARB/USD
Gate ARB_USDT
Phemex ARBUSDT
Aevo ARB-PERP
ApeX Omni ARBUSDT
BloFin ARB-USDT
Lighter ARB
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
Bitget ARBUSDT
BingX ARB-USDC
edgeX ARBUSDC
GRVT ARB_USDT_Perp
SunX ARB-USDT
HTX ARB-USDT
Backpack ARB_USDC_PERP
RISEx ARB/USDC
Reya ARBRUSDPERP
Coinbase International ARB-PERP-INTX