Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.052%

Price spread now: Hyperliquid against GRVT−0.887%45s7-day average +0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$480.477% of the position

Long on GRVT Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.126%+$13 on $10k

Price spread, last 7 days+1.025%+$102 · spread now −0.887%, 7d avg +0.039%

Together, before fees+1.151%+ Points / potential airdropGRVT: Active · Hyperliquid: Season 2 · farm board+$115 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.926% cheaper against GRVT than usual: you would sell low and buy high, −$93 on $10k if it goes back to its 7-day average of +0.039%. The two prices were read 45 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	GRVT ARB_USDT_Perp	0.2190	0.0100	pay 0.0100% / 8h	3h 08m	$468K	$3.5M	10x
Short	Hyperliquid ARB	0.2171	0.0100	get 0.0013% / 1h	8m 37s	$36.8M	$48.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against GRVT. 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 GRVTbpFee HyperliquidbpOrdersPrice spread, now −0.887%Rate

Funding earned: $0
Price spread: −0.887% → +0.039%: −$92.64
Slippage, 4 orders: −$29.72
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$140.36
Costs to cover: 0.477%
Break-even: never at this rate

Slippage from GRVT: live order book, 5 min ago; Hyperliquid: live order book, 5 min ago.

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 GRVT live order book, 5 min ago	2.28 bp	14.8 bp −$15	105.3 bp −$1,053	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	0.23 bp	9.1 bp −$9	doesn't fit	doesn't fit	doesn't fit

ARB on 36 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
Injective ARB/USDC PERP	−0.1589%	1h	0.2161	−1.335%	$39K	$372K	12x	as long as short
Polymarket Perps ARB-USD	−0.0181%	1h	0.2179	−0.499%	$71K	$2.1M	10x	as long as short
OKX ARB-USDT-SWAP	−0.0101%	8h	0.2171	−0.864%	$21.7M	$141.4M	50x	as long as short
MEXC ARB_USDT	−0.0100%	8h	0.2172	−0.837%	$41.1M	$61.0M	200x	as long as short
Variational Omni ARB	−0.0091%	8h	0.2182	−0.392%	$1.8M	$3.0M	—	as long as short
Orderly PERP_ARB_USDC	−0.0063%	8h	0.2173	−0.787%	$12K	$408K	10x	as long as short
Kraken Futures PF_ARBUSD	−0.0051%	1h	0.2173	−0.779%	$1.0M	$4.4M	50x	as long as short
Bybit ARBUSDT	−0.0050%	8h	0.2171	−0.883%	$54.4M	$123.7M	50x	as long as short
01 Exchange ARBUSD	−0.0024%	1h	0.2180	−0.485%	$7K	$1K	10x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2173	−0.773%	$64K	$5K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2173	−0.796%	$24K	$31K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0008%	1h	0.2171	−0.871%	$45K	—	150x	as long as short
Gate ARB_USDT	+0.0010%	8h	0.2172	−0.846%	$5.3M	$18.2M	60x	as long as short
Bitget ARBUSDT	+0.0050%	8h	0.2169	−0.969%	$20.7M	$34.0M	50x	as long as short
BingX ARB-USDC	+0.0053%	8h	0.2170	−0.937%	—	$6.5M	—	as long as short
Binance ARBUSDT	+0.0061%	8h	0.2172	−0.841%	$63.4M	$299.1M	75x	as long as short
Extended ARB-USD	+0.0064%	1h	0.2169	−0.967%	$346K	$2.1M	25x	as long as short
Lighter ARB	+0.0096%	1h	0.2172	−0.832%	$1.2M	$5.5M	15x	as long as short
Aevo ARB-PERP	+0.0096%	1h	0.2173	−0.784%	$138K	$7K	3x	as long as short
Hyperliquid ARBshort	+0.0100%	1h	0.2171	−0.887%	$36.8M	$48.6M	10x
Aster ARBUSDT	+0.0100%	8h	0.2172	−0.833%	$625K	$1.6M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2172	−0.826%	$42K	$160K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2172	−0.823%	$19.4M	$14.5M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2189	−0.036%	$38K	$461K	20x	as long as short
GRVT ARB_USDT_Perplong	+0.0100%	8h	0.2190	long leg	$468K	$3.5M	10x
ApeX Omni ARBUSDT	+0.0100%	1h	0.2188	−0.102%	$118K	$283K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2174	−0.741%	$2K	$1.1M	30x	as long as short
SoDEX ARB-USD	+0.0100%	1h	0.2171	−0.864%	$10K	$2.2M	5x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2172	−0.837%	$294K	$885K	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2173	−0.787%	$4.9M	$12.8M	50x	as long as short
RISEx ARB/USDC	+0.0118%	1h	0.2171	−0.878%	$435K	$2.6M	10x	as long as short
BloFin ARB-USDT	+0.0181%	8h	0.2173	−0.782%	$3.0M	$2.5M	75x	as long as short
Coinbase International ARB-PERP-INTX	+0.0256%	1h	0.2174	−0.755%	$497K	$1.6M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0276% / S −0.0158%	1h	0.2170	−0.921%	$823K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0289%	1h	0.2169	−0.969%	$2K	$695	20x	as long as short
Backpack ARB_USDC_PERP	+0.0568%	1h	0.2173	−0.768%	$975K	$2.8M	20x	as long as short