Funding arb · Price arb /

AR

all AR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.025%

Price spread now: OKX against GMX−0.039%7-day average −0.102% · you buy dearer than you sell

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

Long on GMX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.295%+$29 on $10k

Price spread, last 4 days (all we have)−0.183%−$18 · spread now −0.039%, 7d avg −0.102%

Together, before fees+0.111%+$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and OKX is 0.063% dearer against GMX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.102%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AR/USD [WBTC.b-USDC]	4.2907	L −0.0140% / S +0.0550%	get 0.0018% / 1h	8m 15s	$551K	—	50x
Short	OKX AR-USDT-SWAP	4.2890	0.0100	get 0.0100% / 8h	8m 15s	$2.2M	$14.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.039%Rate

Funding earned: $50.47
Price spread: −0.039% → −0.102%: $6.34
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: $34.81
Costs to cover: 0.220%
Break-even: 2.2 days

Slippage unknown: GMX: no order-book sample; OKX: live order book, 5 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 OKX live order book, 5 min ago	3.51 bp	17.5 bp −$17	109.0 bp −$1,090	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.

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	−0.1515%	1h	4.2839	−0.157%	$53K	$135K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]long	L −0.0140% / S +0.0550%	1h	4.2907	long leg	$551K	—	50x
Injective AR/USDC PERP	+0.0033%	1h	4.4240	+3.107%	$2K	$5K	5.5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.2876	−0.071%	$32K	$278K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.2876	−0.071%	$8.5M	$45.6M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.2889	−0.041%	$4.4M	$8.4M	75x	as long as short
OKX AR-USDT-SWAPshort	+0.0100%	8h	4.2890	−0.039%	$2.2M	$14.9M	20x
Gate AR_USDT	+0.0100%	8h	4.2830	−0.179%	$2.0M	$3.2M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.2870	−0.086%	$6.0M	$4.0M	100x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.2860	−0.109%	$1.1M	$1.2M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ARUSDT	+0.0100%	8h	4.2880	−0.062%	$3.7M	$5.0M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.2910	+0.008%	—	$2.7M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.2750	−0.366%	$245K	$514K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.2780	−0.295%	$20K	$710K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.2862	−0.105%	$39K	$239K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.2760	−0.342%	$411K	$443K	20x	as long as short
Hyperliquid AR	+0.0369%	1h	4.2937	+0.070%	$3.9M	$4.5M	5x	as long as short