Funding arb · Price arb /

AR

all AR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.070%

Price spread now: BingX against GMX−0.053%7-day average −0.062% · you buy dearer than you sell

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

Long on GMX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.279%+$28 on $10k

Price spread, last 3 days (all we have)−0.462%−$46 · spread now −0.053%, 7d avg −0.062%

Together, before fees−0.183%−$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.062%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AR/USD [WBTC.b-USDC]	4.4664	L −0.0140% / S +0.0551%	get 0.0018% / 1h	12m 21s	$574K	—	50x
Short	BingX AR-USDT	4.4640	0.0100	get 0.0100% / 8h	2h 12m	—	$2.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.053%Rate

Funding earned: $50.49
Price spread: −0.053% → −0.062%: $0.92
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: $29.42
Costs to cover: 0.220%
Break-even: 2.9 days

Slippage unknown: GMX: no order-book sample; BingX: live order book, 7 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 BingX live order book, 7 min ago	2.24 bp	23.4 bp −$23	49.1 bp −$491	281.0 bp −$28.1K	698.1 bp −$349.1K

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	−0.2006%	1h	4.4715	+0.115%	$46K	$155K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]long	L −0.0140% / S +0.0551%	1h	4.4664	long leg	$574K	—	50x
Injective AR/USDC PERP	+0.0033%	1h	4.5720	+2.365%	$3K	$363	5.5x	as long as short
Hyperliquid AR	+0.0100%	1h	4.4741	+0.173%	$3.8M	$4.8M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.4727	+0.143%	$20K	$621K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.4607	−0.126%	$8.7M	$56.0M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.4624	−0.088%	$4.6M	$9.0M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.4590	−0.165%	$2.2M	$20.5M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.4630	−0.075%	$2.5M	$2.3M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.4650	−0.030%	$6.8M	$4.8M	100x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ARUSDTM	+0.0100%	8h	4.4720	+0.126%	$1.4M	$1.1M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.4670	+0.015%	$3.8M	$5.6M	75x	as long as short
BingX AR-USDTshort	+0.0100%	8h	4.4640	−0.053%	—	$2.9M	—
Variational Omni AR	+0.0100%	8h	4.4693	+0.066%	$137K	$172K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.4760	+0.216%	$57K	$747K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.4653	−0.025%	$36K	$237K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.4660	−0.008%	$420K	$667K	20x	as long as short