Funding you earn now, next payment 07:00 UTC+0.0306%/8h= +33.5% APRpaid last 24h +0.102%
Price spread now: Bybit against GMX+0.211%51s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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 +$9 a day on $10k at the current rate, and Bybit is 0.211% dearer against GMX than usual: you sell high and buy low: +$21 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 51 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 | GMX S/USD [WBTC.b-USDC] | 0.04034 | L −0.0206% / S +0.0198% | get 0.0026% / 1h | 31m 31s | $1K | — | 100x |
| Short | Bybit SUSDT | 0.04042 | 0.0100 | get 0.0050% / 4h | 1h 31m | $5.8M | $4.2M | 50x |
GMX S/USD [WBTC.b-USDC]
Bybit SUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against GMX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $64.24
- Price spread: +0.211% → 0.000%
- $21.07
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $62.32
- Costs to cover
- 0.230%
- Break-even
- 0.2 days
Slippage unknown: GMX: no order-book sample; Bybit: live order book, 6 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 Bybit live order book, 6 min ago | 2.48 bp | 25.4 bp −$25 | 76.4 bp −$764 | 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 | −0.7712% | 1h | 0.03940 | −2.318% | $24K | $2K | 5x | as long as short |
| Kraken Futures PF_SUSD | −0.2391% | 1h | 0.04032 | −0.041% | $35K | $16K | 10x | as long as short |
| Coinbase International S-PERP-INTX | −0.1120% | 1h | 0.03961 | −1.797% | $48K | $18K | 25x | as long as short |
| GMX S/USD [WBTC.b-USDC]long | L −0.0206% / S +0.0198% | 1h | 0.04034 | long leg | $1K | — | 100x | |
| Reya SRUSDPERP | −0.0101% | 1h | 0.04046 | +0.319% | $4 | — | 15x | as long as short |
| Variational Omni S | −0.0002% | 4h | 0.04030 | −0.092% | $626K | $24K | — | as long as short |
| gTrade (Gains Network) S/USD | L +0.0001% / S +0.0006% | 1h | 0.04033 | −0.011% | $622 | — | 150x | as long as short |
| Injective S/USDC PERP | +0.0033% | 1h | 0.04100 | +1.649% | $2K | $37K | 12x | as long as short |
| Orderly PERP_S_USDC | +0.0085% | 4h | 0.04033 | −0.012% | $100K | $577K | 10x | as long as short |
| Lighter S | +0.0096% | 1h | 0.04047 | +0.335% | $173K | $139K | 5x | as long as short |
01 Exchange SUSD
Kraken Futures PF_SUSD
Coinbase International S-PERP-INTX
Reya SRUSDPERP
Variational Omni S
gTrade (Gains Network) S/USD
Injective S/USDC PERP
Orderly PERP_S_USDC
Lighter SShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid S | +0.0100% | 1h | 0.04048 | +0.359% | $1.0M | $595K | 5x | as long as short |
| Aster SUSDT | +0.0100% | 4h | 0.04047 | +0.327% | $48K | $110K | 10x | as long as short |
| Binance SUSDT | +0.0100% | 4h | 0.04047 | +0.335% | $5.7M | $13.6M | 75x | as long as short |
| Bybit SUSDTshort | +0.0100% | 4h | 0.04042 | +0.211% | $5.8M | $4.2M | 50x | |
| OKX S-USDT-SWAP | +0.0100% | 4h | 0.04046 | +0.310% | $1.0M | $3.8M | 20x | as long as short |
| Gate S_USDT | +0.0100% | 4h | 0.04036 | +0.062% | $328K | $179K | 50x | as long as short |
| MEXC S_USDT | +0.0100% | 4h | 0.04048 | +0.359% | $4.1M | $1.8M | 200x | as long as short |
| KuCoin SUSDTM | +0.0100% | 4h | 0.04044 | +0.260% | $1.8M | $2.8M | 50x | as long as short |
| Bitget SUSDT | +0.0100% | 4h | 0.04047 | +0.335% | $1.2M | $2.3M | 50x | as long as short |
| BingX S-USDT | +0.0100% | 4h | 0.04042 | +0.211% | — | $6.8M | — | as long as short |
| ApeX Omni SUSDT | +0.0100% | 1h | 0.04050 | +0.409% | $23K | $493K | 50x | as long as short |
| Extended S-USD | +0.0104% | 1h | 0.04045 | +0.292% | $233K | $598K | 10x | as long as short |
| BloFin S-USDT | +0.0340% | 4h | 0.04031 | −0.062% | $279K | $116K | 75x | as long as short |
| Deribit S_USDC-PERPETUAL | +0.0742% | 1h | 0.04035 | +0.037% | $68K | $10K | 10x | as long as short |
| Backpack S_USDC_PERP | +0.1556% | 1h | 0.04050 | +0.409% | $118K | $426K | 5x | as long as short |
Hyperliquid S
Aster SUSDT
Binance SUSDT
OKX S-USDT-SWAP
Gate S_USDT
MEXC S_USDT
KuCoin SUSDTM
Bitget SUSDT
BingX S-USDT
ApeX Omni SUSDT
Extended S-USD
BloFin S-USDT
Deribit S_USDC-PERPETUAL
Backpack S_USDC_PERP