Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0650%/8h= −71.2% APRpaid last 24h −0.181%

Price spread now: GMX against KuCoin−0.006%7-day average +0.049% · you buy dearer than you sell

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

Long on KuCoin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.692%−$69 on $10k

Price spread, last 4 days (all we have)+0.249%+$25 · spread now −0.006%, 7d avg +0.049%

Together, before fees−0.444%−$44 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 0.055% cheaper against KuCoin than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.049%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ARUSDTM	4.2900	0.0100	pay 0.0100% / 8h	1h 22m	$1.1M	$1.3M	50x
Short	GMX AR/USD [WBTC.b-USDC]	4.2897	L −0.0140% / S +0.0550%	pay 0.0069% / 1h	22m 50s	$551K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against KuCoin. 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 KuCoinbpFee GMXbpOrdersPrice spread, now −0.006%Rate

Funding earned: −$136.53
Price spread: −0.006% → +0.049%: −$5.53
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$166.06
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 2 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 KuCoin live order book, 2 min ago	5.81 bp	120.8 bp −$121	815.2 bp −$8,152	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	−0.2631%	1h	4.2904	+0.010%	$53K	$183K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]short	L −0.0140% / S +0.0550%	1h	4.2897	−0.006%	$551K	—	50x
Injective AR/USDC PERP	+0.0033%	1h	4.4240	+3.124%	$2K	$5K	5.5x	as long as short
Hyperliquid AR	+0.0100%	1h	4.2962	+0.145%	$3.8M	$4.9M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.2891	−0.021%	$32K	$443K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.2880	−0.047%	$8.5M	$50.7M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.2882	−0.042%	$4.4M	$9.1M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.2870	−0.070%	$2.2M	$16.8M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.2810	−0.210%	$2.0M	$3.4M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.2870	−0.070%	$5.9M	$4.3M	100x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ARUSDTMlong	+0.0100%	8h	4.2900	long leg	$1.1M	$1.3M	50x
Bitget ARUSDT	+0.0100%	8h	4.2880	−0.047%	$3.7M	$5.3M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.2920	+0.047%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.3167	+0.623%	$248K	$518K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.3100	+0.466%	$21K	$711K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.2859	−0.095%	$36K	$239K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.2870	−0.070%	$412K	$450K	20x	as long as short