Funding arb · Price arb /

CC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0141%/8h= +15.5% APRpaid last 24h +0.035%

Price spread now: GMX against BingX+0.098%7-day average — · you sell dearer than you buy

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

Long on BingX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and GMX is 0.098% dearer against BingX than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX CC-USDT	0.1168	0.0100	pay 0.0050% / 4h	42m 02s	—	$6.6M	—
Short	GMX CC/USD [WBTC.b-USDC]	0.1169	L +0.0448% / S −0.0241%	get 0.0030% / 1h	42m 02s	$44K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BingX. 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 BingXbpFee GMXbpOrdersPrice spread, now +0.098%Rate

Funding earned: $29.7
Price spread: +0.098% → 0.000%: $9.76
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $17.46
Costs to cover: 0.220%
Break-even: 2.9 days

Slippage unknown: BingX: live order book, 10 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 BingX live order book, 10 min ago	5.14 bp	22.8 bp −$23	74.6 bp −$746	457.9 bp −$45.8K	1197.2 bp −$598.6K
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.

CC on 19 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 CC/USDC PERP	−0.3024%	1h	0.1180	+1.062%	$402	$3K	5.5x	as long as short
Bybit CCUSDT	−0.0157%	4h	0.1168	+0.069%	$10.6M	$3.9M	25x	as long as short
MEXC CC_USDT	−0.0146%	4h	0.1168	0.000%	$1.7M	$324K	100x	as long as short
Paradex CC-USD-PERP	+0.0097%	8h	0.1168	+0.057%	$1K	—	5x	as long as short
Hyperliquid CC	+0.0100%	1h	0.1170	+0.223%	$5.5M	$1.4M	3x	as long as short
Aster CCUSDT	+0.0100%	4h	0.1169	+0.154%	$35K	$32K	20x	as long as short
Binance CCUSDT	+0.0100%	4h	0.1168	0.000%	$11.0M	$12.1M	75x	as long as short
OKX CC-USDT-SWAP	+0.0100%	4h	0.1169	+0.137%	$2.5M	$3.4M	20x	as long as short
Gate CC_USDT	+0.0100%	4h	0.1168	−0.009%	$361K	$216K	50x	as long as short
KuCoin CCUSDTM	+0.0100%	4h	0.1169	+0.163%	$482K	$122K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CCUSDT	+0.0100%	4h	0.1167	−0.034%	$911K	$775K	20x	as long as short
BingX CC-USDTlong	+0.0100%	4h	0.1168	long leg	—	$6.6M	—
Backpack CC_USDC_PERP	+0.0100%	1h	0.1168	+0.017%	$15K	$22K	10x	as long as short
Variational Omni CC	+0.0100%	4h	0.1163	−0.374%	$592K	$55K	—	as long as short
GRVT CC_USDT_Perp	+0.0100%	4h	0.1165	−0.260%	$89K	$2.4M	10x	as long as short
Derive CC-PERP	+0.0100%	1h	0.1167	−0.057%	$6K	$35K	6.7x	as long as short
BloFin CC-USDT	+0.0340%	4h	0.1164	−0.308%	$594K	$98K	75x	as long as short
GMX CC/USD [WBTC.b-USDC]short	L +0.0448% / S −0.0241%	1h	0.1169	+0.098%	$44K	—	50x
Lighter CC	+0.0800%	1h	0.1174	+0.548%	$243K	$160K	5x	as long as short