Funding arb · Price arb /

ARB

all ARB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0223%/8h= +24.5% APRpaid last 24h +0.054%

Price spread now: GMX against Bybit−0.059%61s7-day average +0.065% · you buy dearer than you sell

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

Long on Bybit Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.115%+$12 on $10k

Price spread, last 4 days (all we have)+1.017%+$102 · spread now −0.059%, 7d avg +0.065%

Together, before fees+1.133%+$113 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.124% cheaper against Bybit than usual: you would sell low and buy high (spread −0.059% now, against its 7-day average of +0.065%). If the spread goes back, that is −$12 on $10k: about 44 hours of funding at the current rate (+$7 a day). At the pace of the last 4 days (+0.115% in total) that is about 3.8 days. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ARBUSDT	0.2188	−0.0065	get 0.0065% / 8h	7h 31m	$53.3M	$125.7M	50x
Short	GMX ARB/USD [ARB-USDC]	0.2187	L +0.0276% / S −0.0158%	get 0.0020% / 1h	31m 24s	$826K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bybit. 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 BybitbpFee GMXbpOrdersPrice spread, now −0.059%Rate

Funding earned: $46.9
Price spread: −0.059% → +0.065%: −$12.41
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: $11.5
Costs to cover: 0.230%
Break-even: 5.3 days

Slippage unknown: Bybit: 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 Bybit live order book, 3 min ago	0.23 bp	10.3 bp −$10	19.9 bp −$199	64.9 bp −$6,494	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.

ARB on 36 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
Injective ARB/USDC PERP	−0.1605%	1h	0.2178	−0.462%	$39K	$372K	12x	as long as short
SoDEX ARB-USD	−0.0241%	1h	0.2188	−0.018%	$9K	$2.3M	5x	as long as short
Gate ARB_USDT	−0.0177%	8h	0.2189	+0.032%	$5.4M	$18.1M	60x	as long as short
Kraken Futures PF_ARBUSD	−0.0169%	1h	0.2189	+0.055%	$1.1M	$4.2M	50x	as long as short
OKX ARB-USDT-SWAP	−0.0095%	8h	0.2187	−0.041%	$22.2M	$145.2M	50x	as long as short
MEXC ARB_USDT	−0.0093%	8h	0.2189	+0.023%	$43.4M	$63.0M	200x	as long as short
Deribit ARB_USDC-PERPETUAL	−0.0070%	1h	0.2189	+0.041%	$28K	$38K	25x	as long as short
Bybit ARBUSDTlong	−0.0065%	8h	0.2188	long leg	$53.3M	$125.7M	50x
01 Exchange ARBUSD	−0.0056%	1h	0.2189	+0.059%	$7K	$209	10x	as long as short
Orderly PERP_ARB_USDC	−0.0037%	8h	0.2188	−0.005%	$16K	$414K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex ARBUSDT	−0.0018%	8h	0.2189	+0.041%	$4.8M	$12.8M	50x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2187	−0.070%	$64K	$4K	10x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0006%	1h	0.2190	+0.071%	$73K	—	150x	as long as short
Binance ARBUSDT	+0.0015%	8h	0.2188	+0.004%	$63.2M	$298.7M	75x	as long as short
Extended ARB-USD	+0.0016%	1h	0.2187	−0.050%	$361K	$3.1M	25x	as long as short
Variational Omni ARB	+0.0028%	8h	0.2193	+0.219%	$1.8M	$3.0M	—	as long as short
Bitget ARBUSDT	+0.0066%	8h	0.2187	−0.050%	$20.9M	$34.6M	50x	as long as short
BingX ARB-USDT	+0.0069%	8h	0.2188	+0.009%	—	$32.8M	—	as long as short
BloFin ARB-USDT	+0.0071%	8h	0.2187	−0.032%	$3.0M	$2.3M	75x	as long as short
Aevo ARB-PERP	+0.0088%	1h	0.2188	+0.018%	$139K	$7K	3x	as long as short
Lighter ARB	+0.0096%	1h	0.2186	−0.078%	$1.3M	$5.5M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2192	+0.155%	$37.0M	$50.2M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2190	+0.078%	$627K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2187	−0.051%	$43K	$145K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2191	+0.133%	$19.4M	$13.7M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2187	−0.032%	$40K	$467K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2196	+0.357%	$475K	$3.6M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2187	−0.050%	$118K	$266K	50x	as long as short
Polymarket Perps ARB-USD	+0.0100%	1h	0.2191	+0.133%	$73K	$2.1M	10x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2191	+0.133%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2189	+0.046%	$293K	$835K	50x	as long as short
RISEx ARB/USDC	+0.0123%	1h	0.2190	+0.096%	$530K	$2.7M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0162%	1h	0.2188	+0.009%	$977K	$2.8M	20x	as long as short
GMX ARB/USD [ARB-USDC]short	L +0.0276% / S −0.0158%	1h	0.2187	−0.059%	$826K	—	150x
Reya ARBRUSDPERP	+0.0288%	1h	0.2188	+0.009%	$2K	$695	20x	as long as short
Coinbase International ARB-PERP-INTX	+0.0336%	1h	0.2192	+0.178%	$525K	$1.5M	50x	as long as short