Funding arb · Price arb /

SEI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0902%/8h= +98.8% APRpaid last 24h +0.009%

Price spread now: Bybit against GMX−0.086%7-day average — · 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)—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. Bybit is 0.086% cheaper against GMX than usual: you would sell low and buy high (spread −0.086% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 8 hours of funding at the current rate (+$27 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SEI/USD [ETH-USDC]	0.05912	L −0.0802% / S +0.0440%	get 0.0100% / 1h	7m 20s	$23K	—	100x
Short	Bybit SEIUSDT	0.05907	0.0100	get 0.0100% / 8h	2h 07m	$13.9M	$36.2M	50x

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

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 BybitbpOrdersPrice spread, now −0.086%Rate

Funding earned: $189.47
Price spread: −0.086% → 0.000%: −$8.63
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $157.84
Costs to cover: 0.230%
Break-even: 1.2 days

Slippage unknown: GMX: no order-book sample; Bybit: live order book, 1 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, 1 min ago	1.69 bp	13.4 bp −$13	30.7 bp −$307	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.

SEI on 27 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
GMX SEI/USD [ETH-USDC]long	L −0.0802% / S +0.0440%	1h	0.05912	long leg	$23K	—	100x
Coinbase International SEI-PERP-INTX	−0.0056%	1h	0.05960	+0.810%	$33K	$209K	50x	as long as short
gTrade (Gains Network) SEI/USD	L −0.0005% / S +0.0006%	1h	0.05914	+0.036%	$8K	—	150x	as long as short
Deribit SEI_USDC-PERPETUAL	0.0000%	1h	0.05914	+0.032%	$20K	$62K	25x	as long as short
Variational Omni SEI	+0.0018%	8h	0.05885	−0.452%	$312K	$240K	—	as long as short
Lighter SEI	+0.0096%	1h	0.05917	+0.083%	$267K	$1.2M	10x	as long as short
Orderly PERP_SEI_USDC	+0.0099%	8h	0.05912	−0.002%	$2K	$111K	20x	as long as short
Hyperliquid SEI	+0.0100%	1h	0.05917	+0.076%	$3.4M	$6.6M	5x	as long as short
Aster SEIUSDT	+0.0100%	8h	0.05919	+0.125%	$309K	$371K	20x	as long as short
Binance SEIUSDT	+0.0100%	8h	0.05914	+0.032%	$13.7M	$127.2M	75x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit SEIUSDTshort	+0.0100%	8h	0.05907	−0.086%	$13.9M	$36.2M	50x
OKX SEI-USDT-SWAP	+0.0100%	4h	0.05909	−0.052%	$3.0M	$40.0M	50x	as long as short
Gate SEI_USDT	+0.0100%	8h	0.05915	+0.049%	$1.1M	$3.6M	75x	as long as short
MEXC SEI_USDT	+0.0100%	8h	0.05913	+0.015%	$29.2M	$26.9M	300x	as long as short
KuCoin SEIUSDTM	+0.0100%	8h	0.05914	+0.032%	$6.9M	$14.2M	75x	as long as short
Bitget SEIUSDT	+0.0100%	8h	0.05913	+0.015%	$9.3M	$17.1M	75x	as long as short
BingX SEI-USDT	+0.0100%	8h	0.05913	+0.015%	—	$32.9M	—	as long as short
Backpack SEI_USDC_PERP	+0.0100%	1h	0.05919	+0.117%	$118K	$561K	10x	as long as short
GRVT SEI_USDT_Perp	+0.0100%	8h	0.05915	+0.049%	$210K	$1.4M	10x	as long as short
ApeX Omni SEIUSDT	+0.0100%	1h	0.05910	−0.036%	$108K	$667K	50x	as long as short
SunX SEI-USDT	+0.0100%	8h	0.05924	+0.201%	$22K	$4.7M	30x	as long as short
Extended SEI-USD	+0.0104%	1h	0.05911	−0.024%	$75K	$476K	25x	as long as short
Kraken Futures PF_SEIUSD	+0.0214%	1h	0.05912	+0.005%	$374K	$1.6M	50x	as long as short
BloFin SEI-USDT	+0.0220%	8h	0.05916	+0.066%	$710K	$1.2M	75x	as long as short
Reya SEIRUSDPERP	+0.0346%	1h	0.05912	+0.005%	$113	—	20x	as long as short
Injective SEI/USDC PERP	+0.0863%	1h	0.05911	−0.019%	$8K	$42K	12x	as long as short
dYdX SEI-USD	+0.2240%	1h	0.05917	+0.081%	$101K	$2K	5x	as long as short