Funding arb · Price arb /

BRETT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0033%/8hnext payment +$0.04 per $10,000 · paid last 24h +0.024%

Price spread now: Injective against GMX−7.150%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 Injective

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

Funding pays, the price is against you. Injective is 7.150% cheaper against GMX than usual: you would sell low and buy high (spread −7.150% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$715 on $10k: about 24 months of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BRETT/USD [ETH-USDC]	0.005804	L 0.0000% / S 0.0000%	get 0.0000% / 1h	5m 19s	—	—	100x
Short	Injective BRETT/USDC PERP	0.005389	0.0033	get 0.0004% / 1h	5m 19s	$791	$5K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against GMX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpOrdersPrice spread, now −7.150%Rate

Funding earned: $7
Price spread: −7.150% → 0.000%: −$715.02
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$720.04
Costs to cover: 0.120%
Break-even: 727.0 days

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

GMX and Injective: 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.

BRETT on 14 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
GMX BRETT/USD [ETH-USDC]long	L 0.0000% / S 0.0000%	1h	0.005804	long leg	—	—	100x
Injective BRETT/USDC PERPshort	+0.0033%	1h	0.005389	−7.150%	$791	$5K	5.5x
Binance BRETTUSDT	+0.0100%	4h	0.005815	+0.190%	$1.2M	$2.4M	50x	as long as short
Bybit BRETTUSDT	+0.0100%	4h	0.005806	+0.034%	$2.1M	$1.8M	25x	as long as short
OKX BRETT-USDT-SWAP	+0.0100%	4h	0.005823	+0.327%	$132K	$264K	10x	as long as short
Gate BRETT_USDT	+0.0100%	4h	0.005809	+0.086%	$436K	$109K	25x	as long as short
MEXC BRETT_USDT	+0.0100%	4h	0.005814	+0.172%	$12.4M	$204K	200x	as long as short
KuCoin BRETTUSDTM	+0.0100%	4h	0.005813	+0.155%	$330K	$74K	30x	as long as short
Bitget BRETTUSDT	+0.0100%	4h	0.005804	0.000%	$1.4M	$671K	50x	as long as short
BingX BRETT-USDT	+0.0100%	4h	0.005811	+0.121%	—	$1.4M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BRETT	+0.0100%	4h	0.005814	+0.172%	$53K	$127K	—	as long as short
BloFin BRETT-USDT	+0.0102%	4h	0.005812	+0.138%	$58K	$162K	50x	as long as short
Hyperliquid BRETT	+0.0120%	1h	0.005827	+0.396%	$316K	$195K	3x	as long as short
Kraken Futures PF_BRETTUSD	+0.0277%	1h	0.005815	+0.190%	$35K	$61K	10x	as long as short