Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0141%/8h= +15.5% APRpaid last 24h +0.034%

Price spread now: GMX against KuCoin+0.125%7-day average — · you sell dearer than you buy

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

Long on KuCoin 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 0.125% dearer against KuCoin than usual: you sell high and buy low: +$13 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	KuCoin CCUSDTM	0.1181	0.0100	pay 0.0050% / 4h	43m 32s	$500K	$115K	50x
Short	GMX CC/USD [WBTC.b-USDC]	0.1183	L +0.0447% / S −0.0241%	get 0.0030% / 1h	43m 32s	$44K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against KuCoin. 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 KuCoinbpFee GMXbpOrdersPrice spread, now +0.125%Rate

Funding earned: $29.7
Price spread: +0.125% → 0.000%: $12.53
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $18.23
Costs to cover: 0.240%
Break-even: 2.7 days

Slippage unknown: KuCoin: live order book, 19 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 KuCoin live order book, 19 min ago	19.32 bp	125.9 bp −$126	doesn't fit	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.

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	−0.3320%	1h	0.1156	−2.150%	$6K	$97	5.5x	as long as short
Paradex CC-USD-PERP	+0.0097%	8h	0.1181	−0.011%	$1K	—	5x	as long as short
Aster CCUSDT	+0.0100%	4h	0.1182	+0.034%	$35K	$38K	20x	as long as short
Binance CCUSDT	+0.0100%	4h	0.1181	−0.051%	$11.1M	$11.0M	75x	as long as short
Bybit CCUSDT	+0.0100%	4h	0.1180	−0.102%	$10.7M	$3.7M	25x	as long as short
OKX CC-USDT-SWAP	+0.0100%	4h	0.1182	+0.034%	$2.6M	$3.5M	20x	as long as short
Gate CC_USDT	+0.0100%	4h	0.1180	−0.152%	$364K	$214K	50x	as long as short
MEXC CC_USDT	+0.0100%	4h	0.1182	+0.008%	$1.6M	$314K	100x	as long as short
KuCoin CCUSDTMlong	+0.0100%	4h	0.1181	long leg	$500K	$115K	50x
Bitget CCUSDT	+0.0100%	4h	0.1181	−0.076%	$941K	$787K	20x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CC-USDT	+0.0100%	4h	0.1181	−0.042%	—	$6.6M	—	as long as short
Variational Omni CC	+0.0100%	4h	0.1181	−0.059%	$588K	$43K	—	as long as short
GRVT CC_USDT_Perp	+0.0100%	4h	0.1183	+0.102%	$85K	$2.3M	10x	as long as short
Derive CC-PERP	+0.0100%	1h	0.1182	+0.029%	$6K	$36K	6.7x	as long as short
BloFin CC-USDT	+0.0340%	4h	0.1181	−0.051%	$585K	$107K	75x	as long as short
Backpack CC_USDC_PERP	+0.0435%	1h	0.1182	+0.076%	$15K	$22K	10x	as long as short
GMX CC/USD [WBTC.b-USDC]short	L +0.0447% / S −0.0241%	1h	0.1183	+0.125%	$44K	—	50x
Hyperliquid CC	+0.0800%	1h	0.1183	+0.161%	$5.5M	$1.4M	3x	as long as short
Lighter CC	+0.1400%	1h	0.1185	+0.305%	$237K	$153K	5x	as long as short