S

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0601%/8h= +65.8% APRnext payment +$0.75 per $10,000 · paid last 24h +0.156%

Price spread now: Backpack against GMX+0.097%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 Backpack

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 for this trade now. Funding pays +$18 a day on $10k at the current rate, and Backpack is 0.097% dearer against GMX than usual: you sell high and buy low: +$10 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 S/USD [WBTC.b-USDC]	0.03936	L −0.0200% / S +0.0193%	get 0.0025% / 1h	50m 43s	$1K	—	100x
Short	Backpack S_USDC_PERP	0.03940	0.0401	get 0.0050% / 1h	50m 43s	$115K	$307K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack 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 BackpackbpOrdersPrice spread, now +0.097%Rate

Funding earned: $126.15
Price spread: +0.097% → 0.000%: $9.65
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: $113.8
Costs to cover: 0.220%
Break-even: 0.7 days

Slippage unknown: GMX: no order-book sample; Backpack: live order book, 28 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 Backpack live order book, 28 min ago	12.77 bp	29.2 bp −$29	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.

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
01 Exchange SUSD	−0.6832%	1h	0.03850	−2.190%	$23K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2118%	1h	0.03938	+0.051%	$33K	$25K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1336%	1h	0.03826	−2.800%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0974%	4h	0.03933	−0.082%	$610K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]long	L −0.0200% / S +0.0193%	1h	0.03936	long leg	$1K	—	100x
Reya SRUSDPERP	−0.0101%	1h	0.03932	−0.101%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03936	−0.002%	$607	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.161%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0033%	4h	0.03936	−0.005%	$100K	$342K	10x	as long as short
Lighter S	+0.0096%	1h	0.03940	+0.097%	$165K	$217K	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	0.03949	+0.323%	$990K	$700K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03951	+0.372%	$43K	$145K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03937	+0.009%	$5.4M	$17.6M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03929	−0.183%	$5.6M	$5.3M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03935	−0.030%	$986K	$5.1M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03944	+0.198%	$322K	$258K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03934	−0.056%	$3.6M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03949	+0.325%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03937	+0.020%	$1.2M	$2.5M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03936	−0.005%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03930	−0.158%	$25K	$453K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03934	−0.069%	$222K	$877K	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0258%	1h	0.03940	+0.097%	$66K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03932	−0.107%	$265K	$126K	75x	as long as short
Backpack S_USDC_PERPshort	+0.0401%	1h	0.03940	+0.097%	$115K	$307K	5x