Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h +0.035%

Price spread now: Arcus against GRVT−0.053%54s7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$270.267% of the position

Long on GRVT Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.083%+$8 on $10k

Price spread, last 4 days (all we have)+0.202%+$20 · spread now −0.053%, 7d avg +0.004%

Together, before fees+0.284%+ Points / potential airdropGRVT: Active · farm board+$28 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Arcus is 0.058% cheaper against GRVT than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.004%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.083%, so the current rate has only just turned against you. The two prices were read 54 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 BNB_USDT_Perp	788.72	0.0154	pay 0.0154% / 8h	4h 03m	$2.9M	$28.6M	10x
Short	Arcus BNB-USD	788.30	0.0100	get 0.0013% / 1h	3m 46s	$52K	$130K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now −0.053%Rate

Funding earned: −$11.34
Price spread: −0.053% → +0.004%: −$5.75
Slippage, 4 orders: −$13.2
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$43.8
Costs to cover: 0.267%
Break-even: never at this rate

Slippage from GRVT: live order book, 5 min ago; Arcus: live order book, 54 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	0.06 bp	4.6 bp −$5	5.8 bp −$58	19.6 bp −$1,965	doesn't fit
Sell Arcus live order book, 54 min ago	3.16 bp	8.6 bp −$9	19.4 bp −$194	doesn't fit	doesn't fit

BNB on 46 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
GMX BNB/USD [WBTC.b-USDC]	L −0.0189% / S +0.0354%	1h	788.31	−0.052%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.30	−0.053%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.68	−0.005%	$851K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.39	−0.042%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.076%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0034%	8h	789.16	+0.056%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDC	+0.0047%	8h	788.57	−0.019%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0057%	8h	789.40	+0.086%	$80.1M	$12.4M	200x	as long as short
Phemex BNBUSDT	+0.0058%	8h	789.19	+0.060%	$69.0M	$50.3M	50x	as long as short
Binance BNBUSDT	+0.0058%	8h	789.27	+0.069%	$492.6M	$791.4M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0064%	1h	788.26	−0.058%	$579K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	788.83	+0.014%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.45	−0.034%	$265K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.75	−0.123%	$1.5M	$2.5M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.15	+0.055%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.24	−0.061%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.40	−0.041%	$138.7M	$74.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.60	−0.015%	$53.4M	$111.2M	50x	as long as short
Arcus BNB-USDshort	+0.0100%	1h	788.30	−0.053%	$52K	$130K	10x
Gate BNB_USDT	+0.0100%	8h	788.45	−0.034%	$35.5M	$57.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.41	−0.039%	$28.1M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.27	−0.057%	$76.3M	$30.2M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.95	+0.029%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.71	−0.128%	$4.1M	$4.7M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.58	−0.017%	$4.1M	$73.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.72	0.000%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.16	−0.071%	$133K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.48	−0.030%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.71	−0.001%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.60	−0.015%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.52	−0.025%	$8.1M	$9.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.36	−0.046%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.18	−0.069%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.50	−0.027%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0117%	1h	788.48	−0.030%	$169K	$35K	10x	as long as short
dYdX BNB-USD	+0.0121%	1h	788.57	−0.019%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perplong	+0.0154%	8h	788.72	long leg	$2.9M	$28.6M	10x
Kalshi KXBNBPERP	+0.0176%	8h	788.80	+0.010%	$132K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0177%	8h	788.55	−0.022%	$18.1M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0216%	1h	788.57	−0.019%	$639K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	788.67	−0.006%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0264%	1h	788.45	−0.034%	$2.5M	$1.2M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.88	+0.020%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0325%	1h	788.05	−0.085%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0360%	1h	788.19	−0.067%	$67K	$38K	12x	as long as short
RISEx BNB/USDC	+0.0461%	1h	788.44	−0.036%	$1.1M	$967K	20x	as long as short