Funding arb · Price arb /

FET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0043%/8h= +4.7% APRpaid last 24h +0.008%

Price spread now: BloFin against GMX+0.024%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 BloFin

What this pair did over the last

the charts below follow

Funding, last 4 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 for this trade now. Funding pays +$1 a day on $10k at the current rate, and BloFin is 0.024% dearer against GMX than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX FET/USD [ETH-USDC]	0.2062	L +0.0202% / S −0.0301%	pay 0.0025% / 1h	21m 52s	$13K	—	100x
Short	BloFin FET-USDT	0.2062	0.0245	get 0.0245% / 8h	7h 21m	$1.7M	$3.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.024%Rate

Funding earned: $9.07
Price spread: +0.024% → 0.000%: $2.38
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$12.56
Costs to cover: 0.240%
Break-even: 16.7 days

Slippage unknown: GMX: no order-book sample; BloFin: live order book, 1 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 BloFin live order book, 1 min ago	2.42 bp	10.5 bp −$11	24.2 bp −$242	105.4 bp −$10.5K	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.

FET on 20 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
Coinbase International FET-PERP-INTX	−0.0736%	1h	0.2073	+0.557%	$143K	$278K	50x	as long as short
Deribit FET_USDC-PERPETUAL	−0.0715%	1h	0.2071	+0.460%	$43K	$323K	10x	as long as short
Kraken Futures PF_FETUSD	−0.0297%	1h	0.2075	+0.675%	$1.1M	$2.1M	50x	as long as short
gTrade (Gains Network) FET/USD	L +0.0006% / S −0.0004%	1h	0.2070	+0.391%	$21K	—	150x	as long as short
Injective FET/USDC PERP	+0.0033%	1h	0.2010	−2.499%	$3K	$166K	12x	as long as short
Aster FETUSDT	+0.0100%	8h	0.2075	+0.636%	$189K	$757K	10x	as long as short
Gate FET_USDT	+0.0100%	8h	0.2073	+0.557%	$2.9M	$12.2M	50x	as long as short
KuCoin FETUSDTM	+0.0100%	8h	0.2076	+0.703%	$10.8M	$17.7M	50x	as long as short
Variational Omni FET	+0.0100%	8h	0.2044	−0.844%	$279K	$565K	—	as long as short
Orderly PERP_FET_USDC	+0.0100%	8h	0.2069	+0.363%	$37K	$11K	10x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget FETUSDT	+0.0104%	8h	0.2076	+0.703%	$17.0M	$11.7M	75x	as long as short
MEXC FET_USDT	+0.0125%	8h	0.2073	+0.557%	$29.5M	$25.4M	200x	as long as short
Binance FETUSDT	+0.0125%	8h	0.2074	+0.606%	$31.6M	$112.5M	75x	as long as short
Extended FET-USD	+0.0128%	1h	0.2075	+0.674%	$32K	$204K	10x	as long as short
BingX FET-USDT	+0.0128%	8h	0.2073	+0.557%	—	$5.9M	—	as long as short
OKX FET-USDT-SWAP	+0.0162%	4h	0.2076	+0.703%	$1.0M	$8.2M	20x	as long as short
GMX FET/USD [ETH-USDC]long	L +0.0202% / S −0.0301%	1h	0.2062	long leg	$13K	—	100x
BloFin FET-USDTshort	+0.0245%	8h	0.2062	+0.024%	$1.7M	$3.4M	100x
Phoenix FET	+0.0594%	1h	0.2046	−0.762%	$35K	$35K	5x	as long as short
Hyperliquid FET	+0.0756%	1h	0.2078	+0.819%	$8.8M	$8.4M	5x	as long as short