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Funding arb · Price arb /

BZ

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Alert: funding
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 07:00 UTC+0.2827%/8h= +309.6% APRnext payment +$3.53 per $10,000 · paid last 24h +0.094%
Price spread now: GMX against Coinbase International−0.353%7-day average +0.109% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on Coinbase InternationalShort on GMX
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.311%+$31 on $10k
Price spread, last 4 days (all we have)+0.358%+$36 · spread now −0.353%, 7d avg +0.109%
Together, before fees+0.669%+$67 on $10k · with fees, hour by hour
Funding pays, the price is against you. GMX is 0.462% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.353% now, against its 7-day average of +0.109%). If the spread goes back, that is −$46 on $10k: about 13 hours of funding at the current rate (+$85 a day). At the pace of the last 3 days (+0.311% in total) that is about 5.2 days.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.311% in total (about 32.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.53 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongCoinbase International BRENTOIL-PERP-INTX97.700−0.0056get 0.0007% / 1h49m 01s$237K$412K15x
ShortGMX BRENTOIL/USD [ETH-USDC]97.355L +0.0328% / S −0.2771%get 0.0346% / 1h49m 01s$116K—111x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

GMX against Coinbase International. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$593.76
Price spread: −0.353% → +0.109%
−$46.22
Slippage, 4 orders
no order book: not counted
Fee Coinbase International: 5 bp × 2 orders
−$10
Fee GMX: 6 bp × 2 orders
−$12
Net
$525.54
Costs to cover
0.220%
Break-even
0.8 days
Slippage unknown: Coinbase International: live order book, 54 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
LegHalf-spread$10k$100k$1M$5M
Buy Coinbase International live order book, 54 min ago1.02 bp6.3 bp −$69.9 bp −$99doesn't fitdoesn'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.

BZ on 31 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective BRENT/USDC PERP−0.0220%1h97.155−0.558%$8K$7K30xas long as short
Hotstuff BRENTOIL-PERP−0.0096%1h97.440−0.266%$34K—20xas long as short
Coinbase International BRENTOIL-PERP-INTXlong−0.0056%1h97.700long leg$237K$412K15x
BloFin BZ-USDT−0.0032%4h97.380−0.328%$1.5M$95K50xas long as short
Aster BZUSDT0.0000%4h97.401−0.306%$339K$860K50xas long as short
Binance BZUSDT0.0000%4h97.393−0.314%$148.3M$353.5M100xas long as short
Bybit BZUSDT0.0000%8h97.370−0.338%$10.2M$13.3M100xas long as short
OKX BZ-USDT-SWAP0.0000%4h97.400−0.307%$16.1M$19.6M50xas long as short
RISEx BZ/USDC0.0000%1h97.427−0.280%$2.4M$1.7M20xas long as short
Gate BZ_USDT0.0000%8h97.340−0.368%$9.2M$10.8M100xas long as short
Show all 31 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget BZUSDT0.0000%4h97.390−0.317%$27.9M$18.2M100xas long as short
Variational Omni BZ0.0000%4h97.526−0.178%$9.4M$6.7M—as long as short
GRVT BZ_USDT_Perp0.0000%4h97.530−0.174%$18K$329K25xas long as short
SunX BRENTOIL-USDT0.0000%4h97.380−0.328%$4K$2.4M20xas long as short
Deribit BRENTOIL_USDC-PERPETUAL0.0000%1h97.330−0.379%$100K$253K15xas long as short
HTX BRENTOIL-USDT0.0000%4h97.300−0.409%$279K$254K75xas long as short
Phemex XBRUSDT0.0000%4h97.410−0.297%$1.2M$87K100xas long as short
edgeX BZUSDC+0.0007%4h97.533−0.171%$225K$228K20xas long as short
Vest BZ-PERP+0.0008%1h101.51+3.900%—$735K10xas long as short
gTrade (Gains Network) BRENT/USDL +0.0011% / S −0.0011%1h97.897+0.201%———as long as short
Lighter BRENTOIL+0.0032%1h97.350−0.358%$3.3M$3.9M20xas long as short
Extended XBR-USD+0.0032%1h97.397−0.311%$737K$3.2M10xas long as short
Ondo Perps BRENT-USD.P+0.0039%1h97.360−0.348%$3.1M$1.0M15xas long as short
Paradex BZ-USD-PERP+0.0050%8h97.416−0.290%$2K$9215xas long as short
tradeXYZ xyz:BRENTOIL+0.0050%1h97.403−0.304%$155.2M$114.4M20xas long as short
Polymarket Perps BRENTOIL-USD+0.0050%1h97.451−0.255%$1.6M$462K20xas long as short
Aftermath Perps BRENTUSD+0.0088%1h97.569−0.135%$7K$40K5xas long as short
KuCoin BZUSDTM+0.0100%4h97.370−0.338%$3.8M$805K50xas long as short
ApeX Omni BZUSDT+0.0100%1h97.560−0.143%$26K$273K50xas long as short
Kraken Futures PF_BRENTOILUSD+0.0113%1h97.364−0.344%$82K$201K20xas long as short
GMX BRENTOIL/USD [ETH-USDC]shortL +0.0328% / S −0.2771%1h97.355−0.353%$116K—111x