Funding arb · Price arb /

FET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0018%/8h= +2.0% APRpaid last 24h +0.010%

Price spread now: BloFin against GMX+0.073%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 BloFin

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 +$1 a day on $10k at the current rate, and BloFin is 0.073% dearer against GMX than usual: you sell high and buy low: +$7 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	GMX FET/USD [ETH-USDC]	0.2046	L +0.0202% / S −0.0278%	pay 0.0025% / 1h	28m 58s	$14K	—	100x
Short	BloFin FET-USDT	0.2047	0.0220	get 0.0220% / 8h	5h 28m	$1.7M	$2.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.073%Rate

Funding earned: $3.83
Price spread: +0.073% → 0.000%: $7.33
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$12.84
Costs to cover: 0.240%
Break-even: 30.4 days

Slippage unknown: GMX: no order-book sample; BloFin: live order book, 4 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 BloFin live order book, 4 min ago	4.87 bp	24.0 bp −$24	36.4 bp −$364	111.2 bp −$11.1K	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.

FET on 20 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
Deribit FET_USDC-PERPETUAL	−0.2188%	1h	0.2046	+0.024%	$30K	$230K	10x	as long as short
Coinbase International FET-PERP-INTX	−0.0872%	1h	0.2048	+0.122%	$149K	$228K	50x	as long as short
gTrade (Gains Network) FET/USD	L +0.0006% / S −0.0015%	1h	0.2046	+0.013%	$23K	—	150x	as long as short
Injective FET/USDC PERP	+0.0033%	1h	0.2010	−1.736%	$3K	$166K	12x	as long as short
Aster FETUSDT	+0.0100%	8h	0.2044	−0.071%	$214K	$772K	10x	as long as short
Binance FETUSDT	+0.0100%	8h	0.2041	−0.226%	$31.6M	$111.9M	75x	as long as short
Gate FET_USDT	+0.0100%	8h	0.2041	−0.220%	$2.8M	$12.3M	50x	as long as short
MEXC FET_USDT	+0.0100%	8h	0.2040	−0.269%	$30.5M	$24.2M	200x	as long as short
KuCoin FETUSDTM	+0.0100%	8h	0.2042	−0.171%	$10.7M	$18.8M	50x	as long as short
Variational Omni FET	+0.0100%	8h	0.2049	+0.175%	$343K	$424K	—	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_FET_USDC	+0.0100%	8h	0.2045	−0.024%	$38K	$7K	10x	as long as short
Extended FET-USD	+0.0104%	1h	0.2041	−0.238%	$35K	$249K	10x	as long as short
Kraken Futures PF_FETUSD	+0.0114%	1h	0.2046	+0.013%	$990K	$2.2M	50x	as long as short
GMX FET/USD [ETH-USDC]long	L +0.0202% / S −0.0278%	1h	0.2046	long leg	$14K	—	100x
BloFin FET-USDTshort	+0.0220%	8h	0.2047	+0.073%	$1.7M	$2.9M	100x
OKX FET-USDT-SWAP	+0.0277%	4h	0.2042	−0.171%	$1.0M	$8.2M	20x	as long as short
BingX FET-USDT	+0.0394%	8h	0.2043	−0.122%	—	$5.9M	—	as long as short
Bitget FETUSDT	+0.0415%	8h	0.2043	−0.122%	$16.6M	$11.8M	75x	as long as short
Phoenix FET	+0.0669%	1h	0.2052	+0.313%	$36K	$39K	5x	as long as short
Hyperliquid FET	+0.0728%	1h	0.2046	+0.005%	$9.0M	$8.4M	5x	as long as short