Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.021%

Price spread now: Extended against GRVT−0.039%92s7-day average +0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,986as 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−$1,99119.912% of the position

Long on GRVT Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.047%+$5 on $10k

Price spread, last 3 days (all we have)−0.198%−$20 · spread now −0.039%, 7d avg +0.018%

Together, before fees−0.151%+ Points / potential airdropGRVT: Active · Extended: Active · farm board−$15 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: Extended is 0.057% cheaper against GRVT than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.018%. The two prices were read 92 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	0.06776	0.0100	pay 0.0050% / 4h	2h 19m	$93K	$372K	10x
Short	Extended BASED-USD	0.06773	0.0104	get 0.0013% / 1h	19m 41s	$5K	$226K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against GRVT. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ExtendedbpOrdersPrice spread, now −0.039%Rate

Funding earned: $0.84
Price spread: −0.039% → +0.018%: −$5.71
Slippage, 4 orders: −$1,977.15
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$1,996.02
Costs to cover: 19.912%
Break-even: 16640.5 days

Slippage from GRVT: live order book, 3 min ago; Extended: live order book, 2 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, 3 min ago	256.80 bp	1253.8 bp −$1,254	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 2 min ago	1.70 bp	47.4 bp −$47	285.5 bp −$2,855	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
Binance BASEDUSDT	+0.0100%	4h	0.06778	+0.027%	$4.2M	$2.9M	25x	as long as short
Bybit BASEDUSDT	+0.0100%	4h	0.06768	−0.115%	$2.1M	$576K	25x	as long as short
OKX BASED-USDT-SWAP	+0.0100%	4h	0.06771	−0.071%	$2.6M	$3.4M	20x	as long as short
Gate BASED_USDT	+0.0100%	4h	0.06771	−0.071%	$539K	$519K	50x	as long as short
MEXC BASED_USDT	+0.0100%	4h	0.06775	−0.012%	$4.8M	$656K	50x	as long as short
KuCoin BASEDUSDTM	+0.0100%	4h	0.06770	−0.086%	$565K	$111K	20x	as long as short
Bitget BASEDUSDT	+0.0100%	4h	0.06786	+0.150%	$1.3M	$360K	25x	as long as short
BingX BASED-USDT	+0.0100%	4h	0.06772	−0.056%	—	$1.6M	—	as long as short
Variational Omni BASED	+0.0100%	4h	0.06761	−0.224%	$92K	$22K	—	as long as short
GRVT BASED_USDT_Perplong	+0.0100%	4h	0.06776	long leg	$93K	$372K	10x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX BASED-USDT	+0.0100%	4h	0.06769	−0.101%	$1K	$797K	20x	as long as short
Extended BASED-USDshort	+0.0104%	1h	0.06773	−0.039%	$5K	$226K	5x
BloFin BASED-USDT	+0.0105%	4h	0.06779	+0.047%	$251K	$37K	25x	as long as short
Aster BASEDUSDT	+0.0173%	4h	0.06771	−0.065%	$28K	$6K	5x	as long as short
Orderly PERP_BASED_USDC	+0.0307%	4h	0.06774	−0.027%	$3K	$652	10x	as long as short