S

Alert

Funding spread now, next payment 19:00 UTC−0.0797%/8h

next payment, per $10,000−$1.00paid, last 24h−0.081%paid, last 3 days+0.192%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 3 days it paid 0.192% in total (about 23.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.00 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack S_USDC_PERP	0.03880	0.0582	pay 0.0073% / 1h	42m 27s	$117K	$242K	5x
Short	GMX S/USD [WBTC.b-USDC]	0.03868	L −0.0225% / S +0.0214%	pay 0.0027% / 1h	42m 27s	$1K	—	100x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee BackpackbpFee GMXbpOrdersRate

Funding earned: −$167.33
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$189.33
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 57 min ago; GMX: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: −0.302%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Backpack live order book, 57 min ago	12.94 bp	17.9 bp −$18	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.

S on 25 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Kraken Futures PF_SUSD	−0.2326%	1h	$33K	$41K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1824%	1h	$47K	$10K	25x	as long as short
Variational Omni S	−0.1307%	4h	$601K	$117K	—	as long as short
Aster SUSDT	−0.0257%	4h	$42K	$258K	10x	as long as short
GMX S/USD [WBTC.b-USDC]short	L −0.0225% / S +0.0214%	1h	$1K	—	100x
01 Exchange SUSD	−0.0136%	1h	$23K	$3K	5x	as long as short
Hyperliquid S	−0.0105%	1h	$988K	$1.3M	5x	as long as short
Orderly PERP_S_USDC	−0.0102%	4h	$102K	$323K	10x	as long as short
Reya SRUSDPERP	−0.0101%	1h	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	$596	—	150x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
OKX S-USDT-SWAP	+0.0022%	4h	$965K	$11.8M	20x	as long as short
Bybit SUSDT	+0.0024%	4h	$5.5M	$9.0M	50x	as long as short
Injective S/USDC PERP	+0.0033%	1h	$2K	$88K	12x	as long as short
Lighter S	+0.0096%	1h	$162K	$304K	5x	as long as short
Binance SUSDT	+0.0100%	4h	$5.2M	$38.1M	75x	as long as short
Gate S_USDT	+0.0100%	4h	$315K	$368K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	$3.5M	$3.4M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	$1.8M	$3.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	$1.2M	$4.5M	50x	as long as short
BingX S-USDT	+0.0100%	4h	—	$6.9M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	$25K	$494K	50x	as long as short
Extended S-USD	+0.0104%	1h	$217K	$944K	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0267%	1h	$65K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	$271K	$260K	75x	as long as short
Backpack S_USDC_PERPlong	+0.0582%	1h	$117K	$242K	5x