Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0351%/8h= −38.4% APRpaid last 24h −0.091%

Price spread now: KuCoin against GMX+0.085%7-day average — · you sell dearer than you buy

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

Long on GMX Short on KuCoin

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

The price spread pays, funding is against you. KuCoin is 0.085% dearer against GMX than usual: you sell high and buy low (spread +0.085% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX CC/USD [WBTC.b-USDC]	0.1186	L +0.0451% / S −0.0241%	pay 0.0056% / 1h	16m 56s	$44K	—	50x
Short	KuCoin CCUSDTM	0.1187	0.0100	get 0.0050% / 4h	2h 16m	$488K	$121K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against GMX. 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 GMXbpFee KuCoinbpOrdersPrice spread, now +0.085%Rate

Funding earned: −$73.69
Price spread: +0.085% → 0.000%: $8.52
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$89.18
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 21 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 21 min ago	15.35 bp	181.2 bp −$181	doesn't fit	doesn't fit	doesn't fit

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 18 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	−0.3556%	1h	0.1161	−2.082%	$6K	$99	5.5x	as long as short
Bybit CCUSDT	−0.0088%	4h	0.1185	−0.092%	$10.8M	$3.9M	25x	as long as short
MEXC CC_USDT	−0.0088%	4h	0.1184	−0.126%	$1.6M	$315K	100x	as long as short
Paradex CC-USD-PERP	+0.0091%	8h	0.1186	−0.003%	$1K	—	5x	as long as short
Aster CCUSDT	+0.0100%	4h	0.1186	−0.010%	$35K	$39K	20x	as long as short
Binance CCUSDT	+0.0100%	4h	0.1184	−0.126%	$11.2M	$12.0M	75x	as long as short
OKX CC-USDT-SWAP	+0.0100%	4h	0.1185	−0.058%	$2.6M	$3.6M	20x	as long as short
Gate CC_USDT	+0.0100%	4h	0.1184	−0.100%	$368K	$219K	50x	as long as short
KuCoin CCUSDTMshort	+0.0100%	4h	0.1187	+0.085%	$488K	$121K	50x
Bitget CCUSDT	+0.0100%	4h	0.1186	−0.008%	$936K	$807K	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CC-USDT	+0.0100%	4h	0.1185	−0.067%	—	$6.6M	—	as long as short
Backpack CC_USDC_PERP	+0.0100%	1h	0.1184	−0.100%	$16K	$22K	10x	as long as short
Variational Omni CC	+0.0100%	4h	0.1181	−0.389%	$601K	$55K	—	as long as short
GRVT CC_USDT_Perp	+0.0100%	4h	0.1187	+0.099%	$81K	$2.3M	10x	as long as short
Derive CC-PERP	+0.0100%	1h	0.1184	−0.118%	$6K	$36K	6.7x	as long as short
Hyperliquid CC	+0.0206%	1h	0.1188	+0.186%	$5.6M	$1.4M	3x	as long as short
GMX CC/USD [WBTC.b-USDC]long	L +0.0451% / S −0.0241%	1h	0.1186	long leg	$44K	—	50x
Lighter CC	+0.0840%	1h	0.1190	+0.380%	$240K	$155K	5x	as long as short