Funding arb · Price arb /

DOT

all DOT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0201%/8h= −22.0% APRpaid last 24h +0.036%

Price spread now: Phemex against GMX+0.154%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 0.154% dearer against GMX than usual: you sell high and buy low (spread +0.154% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX DOT/USD [WBTC.b-USDC]	1.1702	L +0.0301% / S −0.1012%	pay 0.0038% / 1h	33m 37s	$22K	—	100x
Short	Phemex DOTUSDT	1.1720	0.0100	get 0.0100% / 8h	2h 33m	$2.4M	$2.2M	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 +0.154%Rate

Funding earned: −$42.13
Price spread: +0.154% → 0.000%: $15.44
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$50.69
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Phemex: live order book, 5 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, 5 min ago	4.26 bp	18.5 bp −$19	48.1 bp −$481	110.8 bp −$11.1K	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.

DOT on 29 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 DOT_USDC-PERPETUAL	−0.3240%	1h	1.1707	+0.043%	$233K	$133K	50x	as long as short
Coinbase International DOT-PERP-INTX	−0.0864%	1h	1.1710	+0.069%	$172K	$1.9M	50x	as long as short
Reya DOTRUSDPERP	−0.0166%	1h	1.1703	+0.013%	$253	—	—	as long as short
dYdX DOT-USD	0.0000%	1h	1.1686	−0.134%	$141K	$6K	10x	as long as short
gTrade (Gains Network) DOT/USD	L 0.0000% / S +0.0004%	1h	1.1704	+0.020%	$3K	—	150x	as long as short
Injective DOT/USDC PERP	+0.0033%	1h	1.2020	+2.718%	$328	$121K	12x	as long as short
Kraken Futures PF_DOTUSD	+0.0092%	1h	1.1706	+0.038%	$4.4M	$1.4M	50x	as long as short
Lighter DOT	+0.0096%	1h	1.1685	−0.145%	$249K	$663K	10x	as long as short
Hyperliquid DOT	+0.0100%	1h	1.1688	−0.119%	$5.2M	$3.4M	10x	as long as short
Aster DOTUSDT	+0.0100%	8h	1.1698	−0.035%	$834K	$597K	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance DOTUSDT	+0.0100%	8h	1.1687	−0.128%	$42.7M	$86.2M	75x	as long as short
Bybit DOTUSDT	+0.0100%	8h	1.1681	−0.179%	$23.7M	$19.6M	75x	as long as short
OKX DOT-USDT-SWAP	+0.0100%	8h	1.1685	−0.145%	$9.2M	$24.6M	50x	as long as short
Gate DOT_USDT	+0.0100%	8h	1.1690	−0.102%	$6.6M	$12.4M	75x	as long as short
MEXC DOT_USDT	+0.0100%	8h	1.1687	−0.128%	$28.4M	$57.5M	300x	as long as short
KuCoin DOTUSDTM	+0.0100%	8h	1.1690	−0.102%	$6.2M	$9.2M	75x	as long as short
Bitget DOTUSDT	+0.0100%	8h	1.1682	−0.170%	$22.3M	$14.7M	75x	as long as short
BingX DOT-USDC	+0.0100%	8h	1.1867	+1.411%	—	$1.3M	—	as long as short
Backpack DOT_USDC_PERP	+0.0100%	1h	1.1696	−0.051%	$90K	$130K	10x	as long as short
Variational Omni DOT	+0.0100%	8h	1.1723	+0.177%	$534K	$52K	—	as long as short
edgeX DOTUSDC	+0.0100%	4h	1.1716	+0.118%	$34K	$335K	20x	as long as short
GRVT DOT_USDT_Perp	+0.0100%	8h	1.1713	+0.093%	$232K	$420K	10x	as long as short
Orderly PERP_DOT_USDC	+0.0100%	8h	1.1700	−0.016%	$8K	$19K	10x	as long as short
SunX DOT-USDT	+0.0100%	8h	1.1718	+0.137%	$2K	$1.3M	20x	as long as short
HTX DOT-USDT	+0.0100%	8h	1.1749	+0.402%	$263K	$269K	75x	as long as short
Phemex DOTUSDTshort	+0.0100%	8h	1.1720	+0.154%	$2.4M	$2.2M	50x
Extended DOT-USD	+0.0104%	1h	1.1682	−0.173%	$15K	$245K	25x	as long as short
BloFin DOT-USDT	+0.0220%	8h	1.1754	+0.445%	$2.2M	$895K	75x	as long as short
GMX DOT/USD [WBTC.b-USDC]long	L +0.0301% / S −0.1012%	1h	1.1702	long leg	$22K	—	100x