Funding arb · Price arb /

STX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0204%/8h= +22.4% APRpaid last 24h +0.095%

Price spread now: GMX against Bybit+0.094%7-day average — · you sell dearer than you buy

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

Long on Bybit 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

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and GMX is 0.094% dearer against Bybit than usual: you sell high and buy low: +$9 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit STXUSDT	0.3358	0.0100	pay 0.0100% / 8h	5h 07m	$8.5M	$6.5M	75x
Short	GMX STX/USD [WBTC.b-USDC]	0.3361	L +0.0190% / S −0.0304%	get 0.0038% / 1h	7m 20s	$4K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bybit. 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 BybitbpFee GMXbpOrdersPrice spread, now +0.094%Rate

Funding earned: $42.87
Price spread: +0.094% → 0.000%: $9.35
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: $29.22
Costs to cover: 0.230%
Break-even: 2.2 days

Slippage unknown: Bybit: live order book, 1 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 Bybit live order book, 1 min ago	1.49 bp	21.0 bp −$21	59.6 bp −$596	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.

STX on 18 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
Kraken Futures PF_STXUSD	−0.0764%	1h	0.3361	+0.092%	$68K	$113K	20x	as long as short
Variational Omni STX	−0.0319%	8h	0.3365	+0.204%	$777K	$240K	—	as long as short
gTrade (Gains Network) STX/USD	L −0.0002% / S +0.0003%	1h	0.3363	+0.153%	—	—	150x	as long as short
Gate STX_USDT	+0.0017%	8h	0.3357	−0.030%	$593K	$345K	50x	as long as short
Injective STX/USDC PERP	+0.0033%	1h	0.3463	+3.127%	$4K	$264K	12x	as long as short
BloFin STX-USDT	+0.0093%	8h	0.3360	+0.060%	$409K	$215K	20x	as long as short
Aster STXUSDT	+0.0100%	8h	0.3365	+0.200%	$126K	$57K	10x	as long as short
Binance STXUSDT	+0.0100%	8h	0.3362	+0.119%	$7.7M	$18.0M	75x	as long as short
Bybit STXUSDTlong	+0.0100%	8h	0.3358	long leg	$8.5M	$6.5M	75x
OKX STX-USDT-SWAP	+0.0100%	8h	0.3363	+0.149%	$2.3M	$5.3M	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC STX_USDT	+0.0100%	8h	0.3362	+0.119%	$6.0M	$1.2M	50x	as long as short
KuCoin STXUSDTM	+0.0100%	8h	0.3363	+0.149%	$2.4M	$1.2M	50x	as long as short
Bitget STXUSDT	+0.0100%	8h	0.3361	+0.089%	$4.6M	$2.0M	50x	as long as short
BingX STX-USDT	+0.0100%	8h	0.3361	+0.089%	—	$13.6M	—	as long as short
ApeX Omni STXUSDT	+0.0100%	1h	0.3365	+0.208%	$59K	$697K	50x	as long as short
Extended STX-USD	+0.0104%	1h	0.3361	+0.092%	$179K	$619K	10x	as long as short
Hyperliquid STX	+0.0140%	1h	0.3367	+0.274%	$1.5M	$732K	5x	as long as short
GMX STX/USD [WBTC.b-USDC]short	L +0.0190% / S −0.0304%	1h	0.3361	+0.094%	$4K	—	100x