Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against GRVT−0.205%60s7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$2,350as 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−$2,34923.492% of the position

Long on GRVT Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 4 days (all we have)−0.127%−$13 · spread now −0.205%, 7d avg −0.044%

Together, before fees−0.138%+ Points / potential airdropGRVT: Active · farm board−$14 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: Bybit is 0.162% cheaper against GRVT than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of −0.044%. The two prices were read 60 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 BASED_USDT_Perp	0.06820	0.0100	pay 0.0050% / 4h	58m 27s	$94K	$380K	10x
Short	Bybit BASEDUSDT	0.06806	0.0100	get 0.0050% / 4h	58m 27s	$2.1M	$682K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.205%Rate

Funding earned: $0
Price spread: −0.205% → −0.044%: −$16.17
Slippage, 4 orders: −$2,329.16
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$2,365.33
Costs to cover: 23.492%
Break-even: never at this rate

Slippage from GRVT: live order book, 64 min ago; Bybit: live order book, 3 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, 64 min ago	306.66 bp	1301.2 bp −$1,301	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	5.14 bp	70.4 bp −$70	962.5 bp −$9,625	doesn't fit	doesn't fit

BASED on 15 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
Aster BASEDUSDT	+0.0100%	4h	0.06818	−0.025%	$29K	$6K	5x	as long as short
Binance BASEDUSDT	+0.0100%	4h	0.06817	−0.044%	$4.2M	$3.1M	25x	as long as short
Bybit BASEDUSDTshort	+0.0100%	4h	0.06806	−0.205%	$2.1M	$682K	25x
OKX BASED-USDT-SWAP	+0.0100%	4h	0.06813	−0.103%	$2.7M	$3.8M	20x	as long as short
Gate BASED_USDT	+0.0100%	4h	0.06813	−0.103%	$535K	$576K	50x	as long as short
MEXC BASED_USDT	+0.0100%	4h	0.06818	−0.030%	$4.9M	$585K	50x	as long as short
KuCoin BASEDUSDTM	+0.0100%	4h	0.06822	+0.029%	$569K	$72K	20x	as long as short
Bitget BASEDUSDT	+0.0100%	4h	0.06824	+0.058%	$1.3M	$366K	25x	as long as short
BingX BASED-USDT	+0.0100%	4h	0.06810	−0.147%	—	$1.7M	—	as long as short
Variational Omni BASED	+0.0100%	4h	0.06803	−0.255%	$94K	$15K	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BASED_USDT_Perplong	+0.0100%	4h	0.06820	long leg	$94K	$380K	10x
SunX BASED-USDT	+0.0100%	4h	0.06817	−0.044%	$1K	$885K	20x	as long as short
Extended BASED-USD	+0.0104%	1h	0.06819	−0.012%	$1K	$197K	5x	as long as short
BloFin BASED-USDT	+0.0155%	4h	0.06824	+0.058%	$260K	$47K	25x	as long as short
Orderly PERP_BASED_USDC	+0.0235%	4h	0.06817	−0.044%	$3K	$664	10x	as long as short