Funding arb · Price arb /

ATOM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0098%/8h= −10.8% APRpaid last 24h −0.021%

Price spread now: MEXC against GMX−0.162%7-day average — · you buy dearer than you sell

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

Long on GMX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and MEXC is 0.162% cheaper against GMX than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ATOM/USD [ETH-USDC]	1.8089	L +0.0198% / S −0.1417%	pay 0.0025% / 1h	35m 41s	$3K	—	120x
Short	MEXC ATOM_USDT	1.8060	0.0100	get 0.0100% / 8h	7h 35m	$9.1M	$3.0M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.162%Rate

Funding earned: −$20.62
Price spread: −0.162% → 0.000%: −$16.16
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$48.78
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; MEXC: live order book, 2 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 MEXC live order book, 2 min ago	2.77 bp	7.8 bp −$8	19.2 bp −$192	84.0 bp −$8,403	165.9 bp −$82.9K

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.

ATOM on 25 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
Deribit ATOM_USDC-PERPETUAL	−0.0303%	1h	1.8081	−0.045%	$497	$10K	25x	as long as short
Bybit ATOMUSDT	−0.0228%	8h	1.8053	−0.200%	$15.1M	$10.8M	75x	as long as short
OKX ATOM-USDT-SWAP	−0.0073%	8h	1.8050	−0.217%	$5.1M	$5.5M	50x	as long as short
Variational Omni ATOM	−0.0063%	8h	1.8062	−0.149%	$577K	$79K	—	as long as short
dYdX ATOM-USD	0.0000%	1h	1.8087	−0.011%	$63K	$4K	10x	as long as short
gTrade (Gains Network) ATOM/USD	L 0.0000% / S +0.0001%	1h	1.8083	−0.032%	$9K	—	150x	as long as short
Coinbase International ATOM-PERP-INTX	+0.0080%	1h	1.8080	−0.051%	$25K	$12K	25x	as long as short
BloFin ATOM-USDT	+0.0084%	8h	1.8090	+0.004%	$1.1M	$326K	75x	as long as short
Hyperliquid ATOM	+0.0100%	1h	1.8058	−0.173%	$2.8M	$847K	5x	as long as short
Aster ATOMUSDT	+0.0100%	8h	1.8070	−0.106%	$983K	$230K	20x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ATOMUSDT	+0.0100%	8h	1.8060	−0.162%	$21.4M	$31.4M	75x	as long as short
Gate ATOM_USDT	+0.0100%	8h	1.8080	−0.051%	$2.5M	$851K	75x	as long as short
MEXC ATOM_USDTshort	+0.0100%	8h	1.8060	−0.162%	$9.1M	$3.0M	200x
KuCoin ATOMUSDTM	+0.0100%	8h	1.8080	−0.051%	$1.6M	$794K	50x	as long as short
Bitget ATOMUSDT	+0.0100%	8h	1.8073	−0.090%	$6.8M	$2.8M	75x	as long as short
BingX ATOM-USDT	+0.0100%	8h	1.8060	−0.162%	—	$24.8M	—	as long as short
edgeX ATOMUSDC	+0.0100%	4h	1.8062	−0.149%	$444K	$294K	10x	as long as short
GRVT ATOM_USDT_Perp	+0.0100%	8h	1.8060	−0.163%	$770K	$2.9M	10x	as long as short
HTX ATOM-USDT	+0.0100%	8h	1.8066	−0.128%	$309K	$166K	75x	as long as short
Phemex ATOMUSDT	+0.0100%	8h	1.8080	−0.051%	$1.6M	$1.9M	50x	as long as short
Extended ATOM-USD	+0.0104%	1h	1.8066	−0.130%	$6K	$265K	10x	as long as short
Kraken Futures PF_ATOMUSD	+0.0121%	1h	1.8098	+0.048%	$3.1M	$695K	50x	as long as short
Injective ATOM/USDC PERP	+0.0132%	1h	1.8070	−0.106%	$659	$290K	12x	as long as short
GMX ATOM/USD [ETH-USDC]long	L +0.0198% / S −0.1417%	1h	1.8089	long leg	$3K	—	120x
Reya ATOMRUSDPERP	+0.0228%	1h	1.8072	−0.094%	$2K	—	25x	as long as short