Funding arb · Price arb /

ATOM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0098%/8h= −10.8% APRpaid last 24h −0.038%

Price spread now: Phemex against GMX+0.035%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Phemex

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

The price spread pays, funding is against you. Phemex is 0.035% dearer against GMX than usual: you sell high and buy low (spread +0.035% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 28 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ATOM/USD [ETH-USDC]	1.8004	L +0.0198% / S −0.1417%	pay 0.0025% / 1h	2m 35s	$3K	—	120x
Short	Phemex ATOMUSDT	1.8010	0.0100	get 0.0100% / 8h	6h 02m	$1.6M	$1.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.035%Rate

Funding earned: −$20.63
Price spread: +0.035% → 0.000%: $3.47
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$41.16
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Phemex: live order book, 6 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 Phemex live order book, 6 min ago	2.77 bp	19.3 bp −$19	39.8 bp −$398	111.6 bp −$11.2K	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.

ATOM on 24 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
Bybit ATOMUSDT	−0.0188%	8h	1.7990	−0.076%	$15.1M	$10.2M	75x	as long as short
Variational Omni ATOM	−0.0114%	8h	1.7962	−0.233%	$574K	$76K	—	as long as short
OKX ATOM-USDT-SWAP	−0.0097%	8h	1.7970	−0.188%	$5.1M	$5.5M	50x	as long as short
Kraken Futures PF_ATOMUSD	−0.0010%	1h	1.8025	+0.117%	$3.1M	$688K	50x	as long as short
dYdX ATOM-USD	0.0000%	1h	1.8007	+0.017%	$63K	$4K	10x	as long as short
Deribit ATOM_USDC-PERPETUAL	0.0000%	1h	1.8008	+0.024%	$495	$10K	25x	as long as short
gTrade (Gains Network) ATOM/USD	L +0.0001% / S +0.0001%	1h	1.8011	+0.039%	$1K	—	150x	as long as short
Coinbase International ATOM-PERP-INTX	+0.0024%	1h	1.7940	−0.354%	$25K	$7K	25x	as long as short
Hyperliquid ATOM	+0.0100%	1h	1.7997	−0.038%	$2.8M	$767K	5x	as long as short
Aster ATOMUSDT	+0.0100%	8h	1.7980	−0.130%	$974K	$245K	20x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ATOMUSDT	+0.0100%	8h	1.8000	−0.021%	$21.4M	$30.1M	75x	as long as short
Gate ATOM_USDT	+0.0100%	8h	1.7990	−0.076%	$2.5M	$833K	75x	as long as short
MEXC ATOM_USDT	+0.0100%	8h	1.7990	−0.076%	$8.5M	$3.1M	200x	as long as short
KuCoin ATOMUSDTM	+0.0100%	8h	1.8010	+0.035%	$1.6M	$723K	50x	as long as short
Bitget ATOMUSDT	+0.0100%	8h	1.7995	−0.049%	$6.8M	$2.8M	75x	as long as short
BingX ATOM-USDT	+0.0100%	8h	1.7990	−0.076%	—	$24.6M	—	as long as short
edgeX ATOMUSDC	+0.0100%	4h	1.8046	+0.237%	$444K	$294K	10x	as long as short
GRVT ATOM_USDT_Perp	+0.0100%	8h	1.7980	−0.131%	$768K	$2.8M	10x	as long as short
HTX ATOM-USDT	+0.0100%	8h	1.7995	−0.049%	$313K	$179K	75x	as long as short
Phemex ATOMUSDTshort	+0.0100%	8h	1.8010	+0.035%	$1.6M	$1.8M	50x
Extended ATOM-USD	+0.0104%	1h	1.7985	−0.104%	$5K	$208K	10x	as long as short
Injective ATOM/USDC PERP	+0.0171%	1h	1.8020	+0.090%	$657	$290K	12x	as long as short
GMX ATOM/USD [ETH-USDC]long	L +0.0198% / S −0.1417%	1h	1.8004	long leg	$3K	—	120x
Reya ATOMRUSDPERP	+0.0228%	1h	1.7992	−0.065%	$2K	—	25x	as long as short