Settings8H · net · $10k
Funding arb · Price arb /

ALGO

all ALGO markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 01:00 UTC+0.0242%/8h= +26.5% APRpaid last 24h +0.069%
Price spread now: GMX against Bitget−0.682%7-day average · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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 daysno price history on both exchanges yet
Together, before feesneeds both histories
Funding pays, the price is against you. GMX is 0.682% cheaper against Bitget than usual: you would sell low and buy high (spread −0.682% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$68 on $10k: about 9.4 days of funding at the current rate (+$7 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBitget ALGOUSDT0.11240.0100pay 0.0100% / 8h7h 54m$5.7M$3.6M75x
ShortGMX ALGO/USD [WBTC.b-USDC]0.1116L +0.0336% / S −0.0342%get 0.0043% / 1h54m 42s$7K100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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

Funding earned
$50.76
Price spread: −0.682% → 0.000%
−$68.24
Slippage, 4 orders
no order book: not counted
Fee Bitget: 6 bp × 2 orders
−$12
Fee GMX: 6 bp × 2 orders
−$12
Net
−$41.48
Costs to cover
0.240%
Break-even
12.7 days
Slippage unknown: Bitget: live order book, 3 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 Bitget live order book, 3 min ago8.91 bp14.9 bp −$1530.8 bp −$308doesn'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.

ALGO on 22 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
Kraken Futures PF_ALGOUSD−0.0566%1h0.1119−0.488%$833K$1.1M50xas long as short
Deribit ALGO_USDC-PERPETUAL−0.0467%1h0.1116−0.747%$101K$50K25xas long as short
Bybit ALGOUSDT−0.0267%8h0.1122−0.187%$11.3M$12.0M75xas long as short
Variational Omni ALGO−0.0135%8h0.1122−0.214%$62K$12Kas long as short
Coinbase International ALGO-PERP-INTX−0.0104%1h0.1117−0.641%$67K$303K50xas long as short
gTrade (Gains Network) ALGO/USDL +0.0001% / S +0.0003%1h0.1117−0.640%$6K150xas long as short
Injective ALGO/USDC PERP+0.0033%1h0.1120−0.356%$834$233K12xas long as short
Extended ALGO-USD+0.0096%1h0.1122−0.136%$7K$208K10xas long as short
Binance ALGOUSDT+0.0098%8h0.1122−0.139%$10.0M$34.4M75xas long as short
MEXC ALGO_USDT+0.0099%8h0.1122−0.151%$23.1M$2.9M200xas long as short
Show all 22 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hyperliquid ALGO+0.0100%1h0.1123−0.133%$3.7M$1.8M5xas long as short
Aster ALGOUSDT+0.0100%8h0.1122−0.210%$44K$37K5xas long as short
OKX ALGO-USDT-SWAP+0.0100%8h0.1123−0.080%$3.0M$7.5M50xas long as short
Gate ALGO_USDT+0.0100%8h0.1123−0.133%$882K$809K50xas long as short
KuCoin ALGOUSDTM+0.0100%8h0.1123−0.062%$3.6M$1.4M50xas long as short
Bitget ALGOUSDTlong+0.0100%8h0.1124long leg$5.7M$3.6M75x
BingX ALGO-USDT+0.0100%8h0.1123−0.071%$3.3Mas long as short
HTX ALGO-USDT+0.0100%8h0.1117−0.632%$66K$108K75xas long as short
Phemex ALGOUSDT+0.0100%8h0.1121−0.267%$3.8M$1.8M50xas long as short
BloFin ALGO-USDT+0.0219%8h0.1115−0.801%$488K$787K75xas long as short
GMX ALGO/USD [WBTC.b-USDC]shortL +0.0336% / S −0.0342%1h0.1116−0.682%$7K100x
dYdX ALGO-USD+0.1524%1h0.1121−0.257%$161K$3K5xas long as short