S

Alert

Spread before costs (cost unknown: a leg has no order-book sample)−5.907%

7d average—if it closes, per $10,000$591funding while held, a day−$6.08

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective S/USDC PERP	0.04100	0.0033	pay 0.0004% / 1h	29m 03s	$2K	$88K	12x
Short	GMX S/USD [WBTC.b-USDC]	0.03858	L −0.0173% / S +0.0169%	pay 0.0021% / 1h	29m 03s	$1K	—	100x

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee InjectivebpFee GMXbpOrdersClose when spread is

Spread captured: −$590.73
Funding while held: −$6.08
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee GMX: 6 bp × 2 orders: −$12
Net: −$608.83
Spread needed to break even: 0.120%

Slippage unknown: Injective: no order-book sample; GMX: no order-book sample. Net counts fees only.

Cost of waiting

funding view

Funding /8h: −0.0203%
Per $10,000 a day: −$6.08
Average in range /8h: —

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 Injective no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Injective and 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 price on every exchange

against the cheapest. Click to use as the short leg.

Coinbase International0.03826cheapest

Variational Omni0.03845+0.488%

Gate0.03846+0.523%

BloFin0.03846+0.523%

Bybit0.03847+0.549%

01 Exchange0.03850+0.627%

Backpack0.03850+0.627%

ApeX Omni0.03850+0.627%

KuCoin0.03851+0.653%

Reya0.03851+0.657%

OKX0.03852+0.680%

BingX0.03852+0.680%

Extended0.03853+0.695%

Hyperliquid0.03853+0.703%

MEXC0.03853+0.706%

Kraken Futures0.03853+0.707%

Aster0.03853+0.709%

Binance0.03854+0.732%

Bitget0.03854+0.732%

Orderly0.03854+0.732%

Lighter0.03857+0.810%

gTrade (Gains Network)0.03857+0.823%

GMX0.03858+0.831%

Deribit0.03859+0.863%

Injective0.04100+7.162%

S on 25 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Coinbase International S-PERP-INTX	−6.683%	−0.1824%	1h	$47K	$10K	25x	as long as short
Variational Omni S	−6.227%	−0.1413%	4h	$597K	$117K	—	as long as short
Gate S_USDT	−6.195%	+0.0100%	4h	$315K	$369K	50x	as long as short
BloFin S-USDT	−6.195%	+0.0340%	4h	$272K	$259K	75x	as long as short
Bybit SUSDT	−6.171%	+0.0039%	4h	$5.5M	$9.0M	50x	as long as short
01 Exchange SUSD	−6.098%	−0.0072%	1h	$23K	$3K	5x	as long as short
Backpack S_USDC_PERP	−6.098%	+0.0411%	1h	$116K	$242K	5x	as long as short
ApeX Omni SUSDT	−6.098%	+0.0100%	1h	$25K	$495K	50x	as long as short
KuCoin SUSDTM	−6.073%	+0.0100%	4h	$1.8M	$3.7M	50x	as long as short
Reya SRUSDPERP	−6.069%	−0.0101%	1h	$4	—	15x	as long as short

Show all 25 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
OKX S-USDT-SWAP	−6.049%	−0.0051%	4h	$962K	$11.8M	20x	as long as short
BingX S-USDT	−6.049%	+0.0100%	4h	—	$7.0M	—	as long as short
Extended S-USD	−6.034%	+0.0104%	1h	$216K	$943K	10x	as long as short
Hyperliquid S	−6.027%	−0.0036%	1h	$985K	$1.3M	5x	as long as short
MEXC S_USDT	−6.024%	+0.0100%	4h	$3.4M	$3.4M	200x	as long as short
Kraken Futures PF_SUSD	−6.024%	−0.2332%	1h	$33K	$41K	10x	as long as short
Aster SUSDT	−6.022%	−0.0251%	4h	$42K	$258K	10x	as long as short
Binance SUSDT	−6.000%	+0.0100%	4h	$5.2M	$37.9M	75x	as long as short
Bitget SUSDT	−6.000%	+0.0100%	4h	$1.2M	$4.5M	50x	as long as short
Orderly PERP_S_USDC	−6.000%	−0.0093%	4h	$102K	$322K	10x	as long as short
Lighter S	−5.927%	+0.0096%	1h	$162K	$304K	5x	as long as short
gTrade (Gains Network) S/USD	−5.915%	L +0.0001% / S +0.0006%	1h	$595	—	150x	as long as short
GMX S/USD [WBTC.b-USDC]short	−5.907%	L −0.0173% / S +0.0169%	1h	$1K	—	100x
Deribit S_USDC-PERPETUAL	−5.878%	+0.0269%	1h	$65K	$10K	10x	as long as short
Injective S/USDC PERPlong	0.000%	+0.0033%	1h	$2K	$88K	12x