Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0203%/8h= +22.2% APRpaid last 24h +0.064%

Price spread now: GMX against Orderly+0.122%7-day average +0.019% · you sell dearer than you buy

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

Long on Orderly Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.172%+$17 on $10k

Price spread, last 4 days (all we have)−0.339%−$34 · spread now +0.122%, 7d avg +0.019%

Together, before fees−0.167%−$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and GMX is 0.103% dearer against Orderly than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_ARB_USDC	0.2183	−0.0045	get 0.0045% / 8h	17m 51s	$13K	$404K	10x
Short	GMX ARB/USD [ARB-USDC]	0.2186	L +0.0276% / S −0.0158%	get 0.0020% / 1h	17m 51s	$825K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Orderly. 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 OrderlybpFee GMXbpOrdersPrice spread, now +0.122%Rate

Funding earned: $42.58
Price spread: +0.122% → +0.019%: $10.31
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: $34.89
Costs to cover: 0.180%
Break-even: 1.3 days

Slippage unknown: Orderly: no order-book sample; 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 Orderly no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Orderly and 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	−0.1612%	1h	0.2164	−0.870%	$39K	$372K	12x	as long as short
01 Exchange ARBUSD	−0.0200%	1h	0.2184	+0.041%	$7K	$236	10x	as long as short
MEXC ARB_USDT	−0.0081%	8h	0.2183	−0.005%	$41.7M	$62.7M	200x	as long as short
OKX ARB-USDT-SWAP	−0.0080%	8h	0.2181	−0.073%	$21.9M	$144.8M	50x	as long as short
Orderly PERP_ARB_USDClong	−0.0045%	8h	0.2183	long leg	$13K	$404K	10x
Extended ARB-USD	−0.0008%	1h	0.2182	−0.062%	$347K	$3.1M	25x	as long as short
Binance ARBUSDT	−0.0006%	8h	0.2182	−0.024%	$62.6M	$300.2M	75x	as long as short
Polymarket Perps ARB-USD	−0.0001%	1h	0.2184	+0.060%	$76K	$2.1M	10x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2179	−0.202%	$64K	$5K	10x	as long as short
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2185	+0.105%	$28K	$38K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX ARB-USD	+0.0003%	1h	0.2183	+0.023%	$9K	$2.2M	5x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0007%	1h	0.2185	+0.113%	$69K	—	150x	as long as short
Variational Omni ARB	+0.0011%	8h	0.2172	−0.519%	$1.8M	$3.0M	—	as long as short
Bybit ARBUSDT	+0.0018%	8h	0.2182	−0.055%	$53.2M	$126.1M	50x	as long as short
Gate ARB_USDT	+0.0019%	8h	0.2182	−0.032%	$5.4M	$18.5M	60x	as long as short
RISEx ARB/USDC	+0.0069%	1h	0.2180	−0.156%	$500K	$2.7M	10x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2184	+0.056%	$139K	$7K	3x	as long as short
BingX ARB-USDT	+0.0084%	8h	0.2182	−0.060%	—	$33.0M	—	as long as short
Bitget ARBUSDT	+0.0087%	8h	0.2183	0.000%	$21.1M	$34.7M	50x	as long as short
Kraken Futures PF_ARBUSD	+0.0093%	1h	0.2186	+0.120%	$1.1M	$4.3M	50x	as long as short
Lighter ARB	+0.0096%	1h	0.2182	−0.037%	$1.3M	$5.5M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2183	+0.023%	$36.8M	$49.6M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2184	+0.041%	$625K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2179	−0.191%	$43K	$147K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2184	+0.046%	$19.4M	$13.9M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2175	−0.377%	$38K	$464K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2174	−0.424%	$467K	$3.6M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2177	−0.275%	$118K	$278K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2187	+0.183%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2184	+0.050%	$292K	$840K	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2182	−0.046%	$4.8M	$12.7M	50x	as long as short
BloFin ARB-USDT	+0.0114%	8h	0.2178	−0.234%	$3.0M	$2.3M	75x	as long as short
GMX ARB/USD [ARB-USDC]short	L +0.0276% / S −0.0158%	1h	0.2186	+0.122%	$825K	—	150x
Reya ARBRUSDPERP	+0.0288%	1h	0.2183	−0.005%	$2K	$695	20x	as long as short
Coinbase International ARB-PERP-INTX	+0.0336%	1h	0.2188	+0.229%	$513K	$1.5M	50x	as long as short
Backpack ARB_USDC_PERP	+0.0488%	1h	0.2187	+0.192%	$982K	$2.9M	20x	as long as short