Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0349%/8h= −38.2% APRpaid last 24h −0.091%

Price spread now: KuCoin against GMX+0.034%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 KuCoin

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. KuCoin is 0.034% dearer against GMX than usual: you sell high and buy low (spread +0.034% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX CC/USD [WBTC.b-USDC]	0.1176	L +0.0449% / S −0.0241%	pay 0.0056% / 1h	30m 13s	$44K	—	50x
Short	KuCoin CCUSDTM	0.1177	0.0100	get 0.0050% / 4h	1h 30m	$485K	$123K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.034%Rate

Funding earned: −$73.21
Price spread: +0.034% → 0.000%: $3.4
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$93.81
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 67 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 KuCoin live order book, 67 min ago	15.35 bp	181.2 bp −$181	doesn't fit	doesn't fit	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.

CC on 19 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 CC/USDC PERP	−0.4093%	1h	0.1180	+0.315%	$402	$3K	5.5x	as long as short
MEXC CC_USDT	−0.0174%	4h	0.1175	−0.085%	$1.7M	$322K	100x	as long as short
Bybit CCUSDT	−0.0159%	4h	0.1176	−0.068%	$10.7M	$3.9M	25x	as long as short
Paradex CC-USD-PERP	+0.0096%	8h	0.1178	+0.160%	$1K	—	5x	as long as short
Aster CCUSDT	+0.0100%	4h	0.1177	+0.038%	$35K	$32K	20x	as long as short
Binance CCUSDT	+0.0100%	4h	0.1176	−0.039%	$11.1M	$12.2M	75x	as long as short
OKX CC-USDT-SWAP	+0.0100%	4h	0.1176	−0.026%	$2.6M	$3.4M	20x	as long as short
Gate CC_USDT	+0.0100%	4h	0.1175	−0.085%	$364K	$218K	50x	as long as short
KuCoin CCUSDTMshort	+0.0100%	4h	0.1177	+0.034%	$485K	$123K	50x
Bitget CCUSDT	+0.0100%	4h	0.1176	−0.034%	$919K	$793K	20x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CC-USDT	+0.0100%	4h	0.1176	−0.060%	—	$6.6M	—	as long as short
Backpack CC_USDC_PERP	+0.0100%	1h	0.1175	−0.094%	$15K	$22K	10x	as long as short
Variational Omni CC	+0.0100%	4h	0.1175	−0.148%	$598K	$55K	—	as long as short
GRVT CC_USDT_Perp	+0.0100%	4h	0.1174	−0.219%	$88K	$2.4M	10x	as long as short
Derive CC-PERP	+0.0100%	1h	0.1174	−0.182%	$6K	$36K	6.7x	as long as short
BloFin CC-USDT	+0.0340%	4h	0.1172	−0.323%	$595K	$98K	75x	as long as short
Hyperliquid CC	+0.0448%	1h	0.1177	+0.068%	$5.5M	$1.4M	3x	as long as short
GMX CC/USD [WBTC.b-USDC]long	L +0.0449% / S −0.0241%	1h	0.1176	long leg	$44K	—	50x
Lighter CC	+0.0992%	1h	0.1180	+0.332%	$239K	$155K	5x	as long as short