Funding arb · Price arb /

SEI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h +0.085%

Price spread now: BingX against GMX−0.156%7-day average — · you buy dearer than you sell

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

Long on GMX Short on BingX

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

Funding pays, the price is against you. BingX is 0.156% cheaper against GMX than usual: you would sell low and buy high (spread −0.156% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$16 on $10k: about 8.6 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SEI/USD [ETH-USDC]	0.06078	L +0.0040% / S +0.0118%	pay 0.0005% / 1h	24m 40s	$6K	—	100x
Short	BingX SEI-USDT	0.06069	0.0100	get 0.0100% / 8h	4h 24m	—	$31.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.156%Rate

Funding earned: $12.67
Price spread: −0.156% → 0.000%: −$15.63
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$24.96
Costs to cover: 0.220%
Break-even: 20.8 days

Slippage unknown: GMX: no order-book sample; BingX: live order book, 14 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 BingX live order book, 14 min ago	2.47 bp	13.2 bp −$13	25.5 bp −$255	80.0 bp −$8,001	386.0 bp −$193.0K

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.

SEI on 27 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
Variational Omni SEI	−0.0188%	8h	0.06083	+0.080%	$324K	$189K	—	as long as short
Coinbase International SEI-PERP-INTX	−0.0032%	1h	0.06149	+1.160%	$43K	$221K	50x	as long as short
gTrade (Gains Network) SEI/USD	L −0.0006% / S +0.0006%	1h	0.06079	+0.015%	—	—	150x	as long as short
Deribit SEI_USDC-PERPETUAL	0.0000%	1h	0.06082	+0.058%	$10K	$72K	25x	as long as short
GMX SEI/USD [ETH-USDC]long	L +0.0040% / S +0.0118%	1h	0.06078	long leg	$6K	—	100x
Bybit SEIUSDT	+0.0062%	8h	0.06064	−0.239%	$14.6M	$36.3M	50x	as long as short
Lighter SEI	+0.0096%	1h	0.06077	−0.025%	$276K	$1.2M	10x	as long as short
Hyperliquid SEI	+0.0100%	1h	0.06077	−0.021%	$3.5M	$5.5M	5x	as long as short
Aster SEIUSDT	+0.0100%	8h	0.06078	−0.007%	$318K	$354K	20x	as long as short
Binance SEIUSDT	+0.0100%	8h	0.06075	−0.061%	$15.1M	$130.3M	75x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX SEI-USDT-SWAP	+0.0100%	4h	0.06070	−0.140%	$3.5M	$40.3M	50x	as long as short
Gate SEI_USDT	+0.0100%	8h	0.06073	−0.090%	$1.1M	$3.4M	75x	as long as short
MEXC SEI_USDT	+0.0100%	8h	0.06073	−0.090%	$35.2M	$28.6M	300x	as long as short
KuCoin SEIUSDTM	+0.0100%	8h	0.06074	−0.074%	$6.6M	$14.5M	75x	as long as short
Bitget SEIUSDT	+0.0100%	8h	0.06075	−0.058%	$10.0M	$16.8M	75x	as long as short
BingX SEI-USDTshort	+0.0100%	8h	0.06069	−0.156%	—	$31.4M	—
Backpack SEI_USDC_PERP	+0.0100%	1h	0.06072	−0.107%	$107K	$614K	10x	as long as short
GRVT SEI_USDT_Perp	+0.0100%	8h	0.06110	+0.521%	$206K	$1.9M	10x	as long as short
ApeX Omni SEIUSDT	+0.0100%	1h	0.06110	+0.518%	$110K	$666K	50x	as long as short
Orderly PERP_SEI_USDC	+0.0100%	8h	0.06081	+0.041%	$2K	$83K	20x	as long as short
SunX SEI-USDT	+0.0100%	8h	0.06097	+0.304%	$23K	$4.2M	30x	as long as short
Extended SEI-USD	+0.0104%	1h	0.06071	−0.126%	$77K	$552K	25x	as long as short
BloFin SEI-USDT	+0.0220%	8h	0.06081	+0.041%	$763K	$1.3M	75x	as long as short
Injective SEI/USDC PERP	+0.0267%	1h	0.06101	+0.370%	$9K	$43K	12x	as long as short
Kraken Futures PF_SEIUSD	+0.0311%	1h	0.06082	+0.062%	$379K	$1.5M	50x	as long as short
Reya SEIRUSDPERP	+0.0346%	1h	0.06084	+0.098%	$116	—	20x	as long as short
dYdX SEI-USD	+0.0639%	1h	0.06074	−0.067%	$104K	$2K	5x	as long as short