Funding arb · Price arb /

CVX

all CVX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0379%/8h= −41.5% APRpaid last 24h −0.149%

Price spread now: Bybit against GMX−0.035%7-day average −0.087% · you buy dearer than you sell

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

Long on GMX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.437%−$44 on $10k

Price spread, last 3 days (all we have)−0.103%−$10 · spread now −0.035%, 7d avg −0.087%

Together, before fees−0.539%−$54 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.052% dearer against GMX than usual: you sell high and buy low (spread −0.035% now, against its 7-day average of −0.087%): +$5 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX CVX/USD [ETH-USDC]	2.0538	L +0.0479% / S −0.0190%	pay 0.0060% / 1h	4m 17s	$168K	—	100x
Short	Bybit CVXUSDT	2.0531	0.0100	get 0.0050% / 4h	2h 04m	$1.7M	$829K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against GMX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BybitbpOrdersPrice spread, now −0.035%Rate

Funding earned: −$79.56
Price spread: −0.035% → −0.087%: $5.19
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$97.37
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bybit: live order book, 2 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 Bybit live order book, 2 min ago	4.37 bp	28.9 bp −$29	111.0 bp −$1,110	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.

CVX on 13 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 CVX/USDC PERP	+0.0033%	1h	1.9790	−3.643%	—	$33K	5.5x	as long as short
Binance CVXUSDT	+0.0100%	4h	2.0517	−0.105%	$1.7M	$2.8M	75x	as long as short
Bybit CVXUSDTshort	+0.0100%	4h	2.0531	−0.035%	$1.7M	$829K	75x
OKX CVX-USDT-SWAP	+0.0100%	4h	2.0530	−0.040%	$252K	$379K	10x	as long as short
Gate CVX_USDT	+0.0100%	8h	2.0560	+0.106%	$69K	$25K	25x	as long as short
MEXC CVX_USDT	+0.0100%	4h	2.0530	−0.040%	$2.0M	$482K	20x	as long as short
KuCoin CVXUSDTM	+0.0100%	4h	2.0590	+0.252%	$823K	$67K	20x	as long as short
Bitget CVXUSDT	+0.0100%	4h	2.0570	+0.155%	$625K	$131K	25x	as long as short
BingX CVX-USDT	+0.0100%	4h	2.0550	+0.057%	—	$1.6M	—	as long as short
Variational Omni CVX	+0.0100%	4h	2.0566	+0.133%	$6K	$2K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin CVX-USDT	+0.0340%	4h	2.0570	+0.155%	$83K	$128K	75x	as long as short
GMX CVX/USD [ETH-USDC]long	L +0.0479% / S −0.0190%	1h	2.0538	long leg	$168K	—	100x
Kraken Futures PF_CVXUSD	+1.3677%	1h	2.0535	−0.018%	$110K	$70K	10x	as long as short