Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0298%/8h= −32.6% APRpaid last 24h −0.095%

Price spread now: GMX against Gate+0.115%7-day average — · you sell dearer than you buy

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

Long on Gate 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

The price spread pays, funding is against you. GMX is 0.115% dearer against Gate than usual: you sell high and buy low (spread +0.115% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 31 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate S_USDT	0.03998	0.0100	pay 0.0050% / 4h	3h 07m	$326K	$218K	50x
Short	GMX S/USD [WBTC.b-USDC]	0.04003	L −0.0206% / S +0.0198%	pay 0.0025% / 1h	7m 36s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Gate. 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 GatebpFee GMXbpOrdersPrice spread, now +0.115%Rate

Funding earned: −$62.59
Price spread: +0.115% → 0.000%: $11.51
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GMX: 6 bp × 2 orders: −$12
Net: −$78.08
Costs to cover: 0.270%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 62 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 Gate live order book, 62 min ago	8.92 bp	74.4 bp −$74	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.

S on 25 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
Kraken Futures PF_SUSD	−0.2019%	1h	0.04002	+0.096%	$34K	$23K	10x	as long as short
01 Exchange SUSD	−0.1688%	1h	0.04000	+0.050%	$25K	$2K	5x	as long as short
Coinbase International S-PERP-INTX	−0.1240%	1h	0.03959	−0.975%	$49K	$5K	25x	as long as short
Variational Omni S	−0.0682%	4h	0.03997	−0.029%	$621K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]short	L −0.0206% / S +0.0198%	1h	0.04003	+0.115%	$1K	—	100x
Reya SRUSDPERP	−0.0101%	1h	0.04001	+0.085%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04003	+0.127%	$617	—	150x	as long as short
Orderly PERP_S_USDC	+0.0026%	4h	0.04002	+0.100%	$102K	$331K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+2.551%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.04004	+0.150%	$164K	$192K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04001	+0.068%	$1.0M	$621K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04002	+0.112%	$44K	$141K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04000	+0.050%	$5.5M	$15.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03995	−0.075%	$5.7M	$4.9M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04001	+0.075%	$981K	$4.5M	20x	as long as short
Gate S_USDTlong	+0.0100%	4h	0.03998	long leg	$326K	$218K	50x
MEXC S_USDT	+0.0100%	4h	0.04000	+0.050%	$3.6M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04003	+0.125%	$1.9M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04003	+0.125%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04000	+0.050%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04000	+0.050%	$26K	$445K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04000	+0.046%	$224K	$1.1M	10x	as long as short
Backpack S_USDC_PERP	+0.0278%	1h	0.04010	+0.300%	$117K	$325K	5x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04004	+0.150%	$271K	$127K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0499%	1h	0.04007	+0.225%	$67K	$10K	10x	as long as short