Funding arb · Price arb /

AIXBT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0168%/8hnext payment −$0.21 per $10,000 · paid last 24h −0.043%

Price spread now: Hyperliquid against GMX−0.068%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 Hyperliquid

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—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Hyperliquid is 0.068% cheaper against GMX than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AIXBT/USD [ETH-USDC]	0.02213	L +0.0268% / S −0.0489%	pay 0.0033% / 1h	35m 51s	$5K	—	100x
Short	Hyperliquid AIXBT	0.02212	0.0100	get 0.0013% / 1h	35m 51s	$370K	$181K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.068%Rate

Funding earned: −$35.26
Price spread: −0.068% → 0.000%: −$6.78
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$63.04
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Hyperliquid: live order book, 13 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 Hyperliquid live order book, 13 min ago	2.48 bp	18.3 bp −$18	doesn't fit	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.

AIXBT on 14 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_AIXBTUSD	−0.0325%	1h	0.02212	−0.050%	$19K	$7K	10x	as long as short
Variational Omni AIXBT	−0.0139%	4h	0.02220	+0.295%	$98K	$13K	—	as long as short
Hyperliquid AIXBTshort	+0.0100%	1h	0.02212	−0.068%	$370K	$181K	3x
Binance AIXBTUSDT	+0.0100%	4h	0.02214	+0.027%	$2.3M	$2.8M	50x	as long as short
Bybit AIXBTUSDT	+0.0100%	4h	0.02212	−0.063%	$1.2M	$890K	25x	as long as short
OKX AIXBT-USDT-SWAP	+0.0100%	4h	0.02211	−0.108%	$432K	$1.5M	20x	as long as short
Gate AIXBT_USDT	+0.0100%	4h	0.02220	+0.298%	$187K	$75K	25x	as long as short
MEXC AIXBT_USDT	+0.0100%	4h	0.02212	−0.063%	$430K	$181K	100x	as long as short
KuCoin AIXBTUSDTM	+0.0100%	4h	0.02214	+0.027%	$1.1M	$1.3M	30x	as long as short
Bitget AIXBTUSDT	+0.0100%	4h	0.02217	+0.163%	$616K	$434K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX AIXBT-USDT	+0.0100%	4h	0.02215	+0.072%	—	$6.6M	—	as long as short
BloFin AIXBT-USDT	+0.0116%	4h	0.02223	+0.434%	$120K	$61K	50x	as long as short
GMX AIXBT/USD [ETH-USDC]long	L +0.0268% / S −0.0489%	1h	0.02213	long leg	$5K	—	100x
Reya AIXBTRUSDPERP	+0.0372%	1h	0.02210	−0.142%	—	—	—	as long as short