Funding arb · Price arb /

FET

all FET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0176%/8h= +19.3% APRpaid last 24h +0.055%

Price spread now: GMX against MEXC−0.080%7-day average — · you buy dearer than you sell

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

Long on MEXC 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

Funding pays, the price is against you. GMX is 0.080% cheaper against MEXC than usual: you would sell low and buy high (spread −0.080% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 36 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC FET_USDT	0.2010	0.0125	pay 0.0125% / 8h	1h 21m	$29.4M	$25.2M	200x
Short	GMX FET/USD [ETH-USDC]	0.2008	L +0.0201% / S −0.0301%	get 0.0038% / 1h	21m 11s	$13K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against MEXC. 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 MEXCbpFee GMXbpOrdersPrice spread, now −0.080%Rate

Funding earned: $37.06
Price spread: −0.080% → 0.000%: −$8.01
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: $17.05
Costs to cover: 0.120%
Break-even: 3.8 days

Slippage unknown: MEXC: live order book, 3 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 MEXC live order book, 3 min ago	2.49 bp	2.5 bp −$2	8.6 bp −$86	62.1 bp −$6,209	210.4 bp −$105.2K
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.

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	−0.3220%	1h	0.2010	0.000%	$41K	$312K	10x	as long as short
Coinbase International FET-PERP-INTX	−0.0688%	1h	0.2012	+0.100%	$151K	$264K	50x	as long as short
gTrade (Gains Network) FET/USD	L +0.0006% / S −0.0004%	1h	0.2010	−0.023%	$20K	—	150x	as long as short
Injective FET/USDC PERP	+0.0033%	1h	0.2010	0.000%	$3K	$166K	12x	as long as short
Aster FETUSDT	+0.0100%	8h	0.2012	+0.094%	$191K	$818K	10x	as long as short
Gate FET_USDT	+0.0100%	8h	0.2010	0.000%	$2.7M	$12.9M	50x	as long as short
KuCoin FETUSDTM	+0.0100%	8h	0.2011	+0.050%	$10.5M	$18.3M	50x	as long as short
Variational Omni FET	+0.0100%	8h	0.2007	−0.142%	$275K	$501K	—	as long as short
Orderly PERP_FET_USDC	+0.0100%	8h	0.2009	−0.050%	$38K	$9K	10x	as long as short
MEXC FET_USDTlong	+0.0125%	8h	0.2010	long leg	$29.4M	$25.2M	200x

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance FETUSDT	+0.0127%	8h	0.2011	+0.044%	$30.7M	$114.8M	75x	as long as short
Extended FET-USD	+0.0128%	1h	0.2011	+0.025%	$37K	$206K	10x	as long as short
BingX FET-USDT	+0.0191%	8h	0.2010	0.000%	—	$5.9M	—	as long as short
Bitget FETUSDT	+0.0193%	8h	0.2012	+0.100%	$16.3M	$11.8M	75x	as long as short
GMX FET/USD [ETH-USDC]short	L +0.0201% / S −0.0301%	1h	0.2008	−0.080%	$13K	—	100x
BloFin FET-USDT	+0.0247%	8h	0.2012	+0.100%	$1.7M	$3.2M	100x	as long as short
OKX FET-USDT-SWAP	+0.0427%	4h	0.2011	+0.050%	$993K	$8.1M	20x	as long as short
Hyperliquid FET	+0.0620%	1h	0.2012	+0.100%	$8.5M	$8.5M	5x	as long as short
Phoenix FET	+0.0635%	1h	0.2011	+0.065%	$35K	$38K	5x	as long as short
Kraken Futures PF_FETUSD	+0.0645%	1h	0.2015	+0.249%	$995K	$2.2M	50x	as long as short