Funding arb · Price arb /

ARB

all ARB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0196%/8h= +21.5% APRpaid last 24h +0.062%

Price spread now: GMX against Orderly−0.020%7-day average +0.020% · you buy dearer than you sell

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

Long on Orderly Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.171%+$17 on $10k

Price spread, last 4 days (all we have)−0.241%−$24 · spread now −0.020%, 7d avg +0.020%

Together, before fees−0.070%−$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.039% cheaper against Orderly than usual: you would sell low and buy high (spread −0.020% now, against its 7-day average of +0.020%). If the spread goes back, that is −$4 on $10k: about 16 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_ARB_USDC	0.2186	−0.0038	get 0.0038% / 8h	59m 14s	$12K	$407K	10x
Short	GMX ARB/USD [ARB-USDC]	0.2186	L +0.0276% / S −0.0158%	get 0.0020% / 1h	59m 14s	$825K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Orderly. 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 OrderlybpFee GMXbpOrdersPrice spread, now −0.020%Rate

Funding earned: $41.25
Price spread: −0.020% → +0.020%: −$3.94
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: $19.31
Costs to cover: 0.180%
Break-even: 3.7 days

Slippage unknown: Orderly: no order-book sample; 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 Orderly no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Orderly and 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	−0.1612%	1h	0.2177	−0.412%	$39K	$372K	12x	as long as short
01 Exchange ARBUSD	−0.0200%	1h	0.2184	−0.082%	$7K	$236	10x	as long as short
Polymarket Perps ARB-USD	−0.0110%	1h	0.2185	−0.064%	$67K	$2.1M	10x	as long as short
MEXC ARB_USDT	−0.0091%	8h	0.2185	−0.069%	$41.8M	$61.4M	200x	as long as short
OKX ARB-USDT-SWAP	−0.0091%	8h	0.2184	−0.073%	$21.9M	$144.3M	50x	as long as short
Orderly PERP_ARB_USDClong	−0.0038%	8h	0.2186	long leg	$12K	$407K	10x
Variational Omni ARB	−0.0035%	8h	0.2185	−0.024%	$1.8M	$3.0M	—	as long as short
SoDEX ARB-USD	−0.0016%	1h	0.2185	−0.059%	$9K	$2.2M	5x	as long as short
Bybit ARBUSDT	−0.0008%	8h	0.2184	−0.078%	$53.5M	$126.4M	50x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2187	+0.041%	$65K	$5K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2186	−0.014%	$28K	$38K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0009%	1h	0.2186	+0.001%	$44K	—	150x	as long as short
Binance ARBUSDT	+0.0015%	8h	0.2185	−0.045%	$62.4M	$302.0M	75x	as long as short
Extended ARB-USD	+0.0016%	1h	0.2184	−0.102%	$349K	$3.0M	25x	as long as short
Gate ARB_USDT	+0.0018%	8h	0.2185	−0.046%	$5.4M	$18.3M	60x	as long as short
BloFin ARB-USDT	+0.0059%	8h	0.2184	−0.073%	$3.0M	$2.3M	75x	as long as short
RISEx ARB/USDC	+0.0069%	1h	0.2186	−0.012%	$485K	$2.6M	10x	as long as short
Bitget ARBUSDT	+0.0074%	8h	0.2184	−0.091%	$21.1M	$34.7M	50x	as long as short
BingX ARB-USDC	+0.0074%	8h	0.2185	−0.069%	—	$6.5M	—	as long as short
Aevo ARB-PERP	+0.0088%	1h	0.2186	−0.013%	$139K	$7K	3x	as long as short
Kraken Futures PF_ARBUSD	+0.0093%	1h	0.2186	−0.002%	$1.1M	$4.4M	50x	as long as short
Lighter ARB	+0.0096%	1h	0.2185	−0.055%	$1.2M	$5.4M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2186	+0.009%	$36.9M	$49.4M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2187	+0.065%	$628K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2187	+0.050%	$42K	$148K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2186	−0.018%	$19.4M	$14.2M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2187	+0.032%	$39K	$466K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2188	+0.091%	$466K	$3.6M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2188	+0.091%	$118K	$279K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2188	+0.091%	$1K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2185	−0.032%	$292K	$832K	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2185	−0.046%	$4.8M	$12.9M	50x	as long as short
GMX ARB/USD [ARB-USDC]short	L +0.0276% / S −0.0158%	1h	0.2186	−0.020%	$825K	—	150x
Reya ARBRUSDPERP	+0.0289%	1h	0.2184	−0.076%	$2K	$695	20x	as long as short
Coinbase International ARB-PERP-INTX	+0.0336%	1h	0.2196	+0.439%	$524K	$1.5M	50x	as long as short
Backpack ARB_USDC_PERP	+0.0566%	1h	0.2190	+0.174%	$984K	$2.8M	20x	as long as short