Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0298%/8h= −32.6% APRpaid last 24h −0.094%

Price spread now: GMX against BingX+0.132%7-day average — · you sell dearer than you buy

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

Long on BingX 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

The price spread pays, funding is against you. GMX is 0.132% dearer against BingX than usual: you sell high and buy low (spread +0.132% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 35 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX S-USDT	0.04021	0.0100	pay 0.0050% / 4h	1h 04m	—	$6.8M	—
Short	GMX S/USD [WBTC.b-USDC]	0.04026	L −0.0206% / S +0.0198%	pay 0.0025% / 1h	4m 20s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BingX. 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 BingXbpFee GMXbpOrdersPrice spread, now +0.132%Rate

Funding earned: −$62.59
Price spread: +0.132% → 0.000%: $13.18
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$71.41
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BingX: 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 BingX live order book, 3 min ago	6.21 bp	22.3 bp −$22	67.0 bp −$670	497.0 bp −$49.7K	784.5 bp −$392.3K
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: 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
01 Exchange SUSD	−0.7632%	1h	0.03950	−1.766%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2396%	1h	0.04024	+0.076%	$35K	$16K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1120%	1h	0.03961	−1.492%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]short	L −0.0206% / S +0.0198%	1h	0.04026	+0.132%	$1K	—	100x
Reya SRUSDPERP	−0.0101%	1h	0.04021	−0.004%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04025	+0.095%	$620	—	150x	as long as short
Variational Omni S	+0.0010%	4h	0.04022	+0.032%	$625K	$22K	—	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+1.965%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0086%	4h	0.04024	+0.075%	$100K	$591K	10x	as long as short
Lighter S	+0.0096%	1h	0.04029	+0.199%	$172K	$139K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04025	+0.087%	$1.0M	$579K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04026	+0.119%	$47K	$110K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04024	+0.075%	$5.7M	$13.6M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04020	−0.025%	$5.7M	$4.1M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04022	+0.025%	$1.0M	$3.7M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04024	+0.075%	$327K	$179K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04024	+0.075%	$4.1M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04020	−0.025%	$1.8M	$2.8M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04024	+0.075%	$1.2M	$2.3M	50x	as long as short
BingX S-USDTlong	+0.0100%	4h	0.04021	long leg	—	$6.8M	—
ApeX Omni SUSDT	+0.0100%	1h	0.04040	+0.473%	$23K	$487K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04022	+0.033%	$232K	$396K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04029	+0.199%	$280K	$115K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0744%	1h	0.04030	+0.224%	$68K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1784%	1h	0.04040	+0.473%	$117K	$426K	5x	as long as short