Funding arb · Price arb /

AR

all AR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0651%/8h= −71.2% APRpaid last 24h −0.181%

Price spread now: GMX against Bitget−0.034%7-day average +0.095% · you buy dearer than you sell

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

Long on Bitget Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.651%−$65 on $10k

Price spread, last 3 days (all we have)+0.276%+$28 · spread now −0.034%, 7d avg +0.095%

Together, before fees−0.376%−$38 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and GMX is 0.128% cheaper against Bitget than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.095%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ARUSDT	4.6250	0.0100	pay 0.0100% / 8h	7h 09m	$3.9M	$5.5M	75x
Short	GMX AR/USD [WBTC.b-USDC]	4.6234	L −0.0140% / S +0.0551%	pay 0.0069% / 1h	9m 44s	$594K	—	50x

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

Position, each leg$Hold fordaysFee BitgetbpFee GMXbpOrdersPrice spread, now −0.034%Rate

Funding earned: −$136.63
Price spread: −0.034% → +0.095%: −$12.82
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$173.46
Costs to cover: 0.240%
Break-even: never at this rate

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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Bitget live order book, 3 min ago	3.27 bp	21.3 bp −$21	79.8 bp −$798	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.

AR on 17 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_ARUSD	−0.2391%	1h	4.6183	−0.145%	$56K	$149K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]short	L −0.0140% / S +0.0551%	1h	4.6234	−0.034%	$594K	—	50x
OKX AR-USDT-SWAP	−0.0134%	8h	4.6290	+0.086%	$2.4M	$20.0M	20x	as long as short
MEXC AR_USDT	+0.0002%	8h	4.6270	+0.043%	$6.7M	$4.5M	100x	as long as short
Binance ARUSDT	+0.0004%	8h	4.6311	+0.131%	$9.3M	$53.4M	75x	as long as short
Extended AR-USD	+0.0008%	1h	4.6260	+0.021%	$38K	$240K	10x	as long as short
BloFin AR-USDT	+0.0011%	8h	4.5940	−0.670%	$443K	$538K	20x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5890	−0.778%	$3K	$319	5.5x	as long as short
Hyperliquid AR	+0.0100%	1h	4.6370	+0.259%	$4.2M	$4.8M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.6223	−0.058%	$21K	$499K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ARUSDT	+0.0100%	8h	4.6282	+0.069%	$4.7M	$8.4M	75x	as long as short
Gate AR_USDT	+0.0100%	8h	4.6260	+0.022%	$2.6M	$2.2M	50x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.6240	−0.022%	$1.5M	$1.2M	50x	as long as short
Bitget ARUSDTlong	+0.0100%	8h	4.6250	long leg	$3.9M	$5.5M	75x
BingX AR-USDT	+0.0100%	8h	4.6270	+0.043%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.5887	−0.784%	$143K	$168K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.6000	−0.541%	$23K	$741K	50x	as long as short