Funding arb · Price arb /

GLW

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.053%

Price spread now: Paragon against Orderly−0.129%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Paragon

What this pair did over the last

the charts below follow

Funding, last 5 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 against this trade now: funding costs −$1 a day on $10k at the current rate, and Paragon is 0.129% cheaper against Orderly than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_GLW_USDC_mythos	159.39	0.0100	pay 0.0100% / 8h	4h 56m	$2K	$3K	10x
Short	Paragon para:GLW	159.18	0.0060	get 0.0008% / 1h	56m 40s	$310K	$41K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paragon against Orderly. 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 OrderlybpFee ParagonbpOrdersPrice spread, now −0.129%Rate

Funding earned: −$8.4
Price spread: −0.129% → 0.000%: −$12.91
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Paragon: 5 bp × 2 orders: −$10
Net: −$37.31
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Paragon: live order book, 42 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 Orderly no order-book sample	—	—	—	—	—
Sell Paragon live order book, 42 min ago	25.47 bp	30.5 bp −$30	81.1 bp −$811	doesn't fit	doesn't fit

Orderly: 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.

GLW on 17 exchanges

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
Aster GLWUSDT	0.0000%	8h	159.32	−0.046%	$65K	$53K	20x	as long as short
Bybit GLWUSDT	0.0000%	8h	159.23	−0.100%	$906K	$241K	25x	as long as short
Gate GLW_USDT	0.0000%	8h	159.14	−0.157%	$2.2M	$4.4M	50x	as long as short
Bitget GLWUSDT	0.0000%	8h	159.13	−0.163%	$2.1M	$1.1M	20x	as long as short
SunX GLW-USDT	0.0000%	8h	159.21	−0.113%	$1K	$1.5M	10x	as long as short
HTX GLW-USDT	0.0000%	8h	159.42	+0.019%	$17K	$27K	20x	as long as short
Vest GLW-USD-PERP	+0.0046%	1h	159.33	−0.038%	—	—	10x	as long as short
Ondo Perps GLW-USD.P	+0.0050%	1h	159.11	−0.176%	$281K	$111K	10x	as long as short
Paragon para:GLWshort	+0.0060%	1h	159.18	−0.129%	$310K	$41K	10x
QFEX GLW-USD	+0.0080%	1h	159.16	−0.144%	$1.1M	$1.8M	10x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin GLWUSDTM	+0.0100%	8h	159.24	−0.094%	$381K	$872K	20x	as long as short
Orderly PERP_GLW_USDC_mythoslong	+0.0100%	8h	159.39	long leg	$2K	$3K	10x
Binance GLWUSDT	+0.0150%	8h	159.24	−0.094%	$10.5M	$27.1M	20x	as long as short
OKX GLW-USDT-SWAP	+0.0151%	8h	159.25	−0.088%	$2.2M	$5.1M	20x	as long as short
Extended GLW-USD	+0.0152%	1h	159.17	−0.135%	$2K	$1K	10x	as long as short
BloFin GLW-USDT	+0.0172%	8h	159.53	+0.088%	$152K	$48K	20x	as long as short
GRVT GLW_USDT_Perp	+0.0521%	8h	159.34	−0.031%	$94	$245K	10x	as long as short