Funding arb · Price arb /

SEI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0915%/8h= +100.2% APRpaid last 24h +0.067%

Price spread now: Gate against GMX−0.048%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 Gate

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. Gate is 0.048% cheaper against GMX than usual: you would sell low and buy high (spread −0.048% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 4 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]	0.05980	L −0.0815% / S +0.0444%	get 0.0102% / 1h	1m 13s	$23K	—	100x
Short	Gate SEI_USDT	0.05977	0.0100	get 0.0100% / 8h	6h 01m	$1.1M	$3.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.048%Rate

Funding earned: $192.09
Price spread: −0.048% → 0.000%: −$4.85
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $160.24
Costs to cover: 0.270%
Break-even: 1.2 days

Slippage unknown: GMX: no order-book sample; Gate: live order book, 2 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 Gate live order book, 2 min ago	5.02 bp	21.6 bp −$22	57.6 bp −$576	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 26 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 −0.0815% / S +0.0444%	1h	0.05980	long leg	$23K	—	100x
Variational Omni SEI	−0.0121%	8h	0.05954	−0.425%	$318K	$200K	—	as long as short
gTrade (Gains Network) SEI/USD	L −0.0006% / S +0.0006%	1h	0.05981	+0.012%	—	—	150x	as long as short
Deribit SEI_USDC-PERPETUAL	0.0000%	1h	0.05983	+0.052%	$10K	$72K	25x	as long as short
Coinbase International SEI-PERP-INTX	+0.0048%	1h	0.05977	−0.048%	$34K	$207K	50x	as long as short
Lighter SEI	+0.0096%	1h	0.05987	+0.119%	$272K	$1.2M	10x	as long as short
Hyperliquid SEI	+0.0100%	1h	0.05981	+0.012%	$3.4M	$5.9M	5x	as long as short
Aster SEIUSDT	+0.0100%	8h	0.05979	−0.017%	$313K	$354K	20x	as long as short
Binance SEIUSDT	+0.0100%	8h	0.05985	+0.078%	$14.3M	$128.0M	75x	as long as short
Bybit SEIUSDT	+0.0100%	8h	0.05978	−0.032%	$14.2M	$35.7M	50x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX SEI-USDT-SWAP	+0.0100%	4h	0.05980	+0.002%	$3.2M	$39.7M	50x	as long as short
Gate SEI_USDTshort	+0.0100%	8h	0.05977	−0.048%	$1.1M	$3.4M	75x
MEXC SEI_USDT	+0.0100%	8h	0.05979	−0.015%	$34.5M	$28.7M	300x	as long as short
KuCoin SEIUSDTM	+0.0100%	8h	0.05978	−0.032%	$6.4M	$14.5M	75x	as long as short
Bitget SEIUSDT	+0.0100%	8h	0.05981	+0.018%	$9.5M	$16.5M	75x	as long as short
BingX SEI-USDT	+0.0100%	8h	0.05980	+0.002%	—	$31.2M	—	as long as short
GRVT SEI_USDT_Perp	+0.0100%	8h	0.05976	−0.065%	$211K	$1.7M	10x	as long as short
ApeX Omni SEIUSDT	+0.0100%	1h	0.05990	+0.169%	$109K	$664K	50x	as long as short
Orderly PERP_SEI_USDC	+0.0100%	8h	0.05982	+0.035%	$2K	$97K	20x	as long as short
SunX SEI-USDT	+0.0100%	8h	0.05985	+0.085%	$22K	$4.4M	30x	as long as short
Extended SEI-USD	+0.0104%	1h	0.05983	+0.057%	$77K	$546K	25x	as long as short
Backpack SEI_USDC_PERP	+0.0130%	1h	0.05989	+0.152%	$119K	$569K	10x	as long as short
Reya SEIRUSDPERP	+0.0346%	1h	0.05977	−0.052%	$114	—	20x	as long as short
Kraken Futures PF_SEIUSD	+0.0375%	1h	0.05988	+0.128%	$377K	$1.6M	50x	as long as short
dYdX SEI-USD	+0.0785%	1h	0.05981	+0.023%	$102K	$2K	5x	as long as short
Injective SEI/USDC PERP	+0.0844%	1h	0.05978	−0.032%	$9K	$43K	12x	as long as short