MEW

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0964%/8h= −105.6% APRnext payment −$1.21 per $10,000 · paid last 24h −0.047%

Price spread now: GMX against Kraken Futures−0.424%54s7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on GMX

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

Both sides work against this trade now: funding costs −$29 a day on $10k at the current rate, and GMX is 0.424% cheaper against Kraken Futures than usual: you would sell low and buy high (−$42 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_MEWUSD	0.0004640	0.0964	pay 0.0121% / 1h	36m 27s	$90K	$114K	10x
Short	GMX MEW/USD [WBTC.b-USDC]	0.0004620	L 0.0000% / S 0.0000%	get 0.0000% / 1h	36m 27s	—	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Kraken Futures. 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 Kraken FuturesbpFee GMXbpOrdersPrice spread, now −0.424%Rate

Funding earned: −$202.5
Price spread: −0.424% → 0.000%: −$42.36
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$266.86
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 21 min ago; GMX: 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 Kraken Futures live order book, 21 min ago	11.87 bp	1768.8 bp −$1,769	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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.

MEW on 12 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 MEW/USD [WBTC.b-USDC]short	L 0.0000% / S 0.0000%	1h	0.0004620	−0.424%	—	—	100x
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−9.066%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004627	−0.273%	$1.2M	$2.9M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004622	−0.380%	$1.4M	$1.2M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004621	−0.402%	$520K	$770K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004620	−0.424%	$135K	$121K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004629	−0.230%	$382K	$174K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004625	−0.316%	$335K	$118K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004626	−0.294%	$493K	$366K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004625	−0.316%	—	$24.2M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MEW	+0.0100%	4h	0.0004608	−0.679%	$81K	$32K	—	as long as short
Kraken Futures PF_MEWUSDlong	+0.0964%	1h	0.0004640	long leg	$90K	$114K	10x