Funding you earn now, next payment 04:00 UTC+0.0077%/8h= +8.4% APRpaid last 24h +0.020%
Price spread now: GMX against GRVT−0.129%69s7-day average +0.010% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.064%+$6 on $10k
+Price spread, last 4 days (all we have)+0.127%+$13 · spread now −0.129%, 7d avg +0.010%
=Together, before fees+0.191%+ Points / potential airdropGRVT: Active · farm board+$19 on $10k · with fees, hour by hour
Funding pays, the price is against you. GMX is 0.139% cheaper against GRVT than usual: you would sell low and buy high (spread −0.129% now, against its 7-day average of +0.010%). If the spread goes back, that is −$14 on $10k: about 6.1 days of funding at the current rate (+$2 a day). The two prices were read 69 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 BTC_USDT_Perp | 85,566.3 | 0.0100 | pay 0.0100% / 8h | 4h 27m | $214.8M | $169.8M | 50x |
| Short | GMX BTC/USD [WBTC.b-USDC] | 85,455.5 | L +0.0202% / S −0.0177% | get 0.0022% / 1h | 27m 36s | $13.4M | — | 200x |
GRVT BTC_USDT_Perp
GMX BTC/USD [WBTC.b-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX against GRVT. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $16.09
- Price spread: −0.129% → +0.010%
- −$13.94
- Slippage, 4 orders
- no order book: not counted
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- −$18.85
- Costs to cover
- 0.210%
- Break-even
- 15.2 days
Slippage unknown: GRVT: live order book, 2 min ago; GMX: no order-book sample. 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 GRVT live order book, 2 min ago | 0.04 bp | 4.5 bp −$5 | 4.6 bp −$46 | 46.1 bp −$4,606 | 11350.7 bp −$5.68M |
| Sell GMX no order-book sample | — | — | — | — | — |
GMX: 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.
BTC on 56 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0179% | 1h | 85,566 | 0.000% | $2.2M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,441 | −0.146% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0056% | 1h | 85,457.9 | −0.127% | $365K | $2.3M | 50x | as long as short |
| BloFin BTC-USDT | −0.0023% | 8h | 85,567.7 | +0.002% | $416.6M | $668.2M | 150x | as long as short |
| KuCoin XBTUSDTM | −0.0016% | 8h | 85,455.6 | −0.129% | $921.0M | $750.6M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 85,448.2 | −0.138% | $36.5M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0013% | 8h | 85,469.1 | −0.114% | $515.1M | $1.10B | 200x | as long as short |
| dYdX BTC-USD | +0.0017% | 1h | 85,500.6 | −0.077% | $16.7M | $21.3M | 50x | as long as short |
| Arcus BTC-USD | +0.0021% | 1h | 85,437.1 | −0.151% | $4.9M | $97.9M | 40x | as long as short |
| Nado BTC-PERP | +0.0030% | 1h | 85,504.2 | −0.073% | $25.2M | $221.9M | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
BloFin BTC-USDT
KuCoin XBTUSDTM
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
dYdX BTC-USD
Arcus BTC-USD
Nado BTC-PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDC | +0.0061% | 8h | 85,458.9 | −0.126% | — | $17.1M | — | as long as short |
| Bitget BTCUSDT | +0.0077% | 8h | 85,472.2 | −0.110% | $2.94B | $5.07B | 150x | as long as short |
| Phemex BTCUSDT | +0.0081% | 8h | 85,408.3 | −0.185% | $147.3M | $487.1M | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0081% | 1h | 85,510.9 | −0.065% | $6.7M | $146.7M | 40x | as long as short |
| Binance BTCUSDT | +0.0096% | 8h | 85,485.7 | −0.094% | $9.36B | $24.12B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,494.7 | −0.084% | $172.7M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,475.6 | −0.106% | $23.9M | $149.1M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,463 | −0.121% | $8.4M | $52.9M | 100x | as long as short |
| MEXC BTC_USDT | +0.0096% | 8h | 85,485.2 | −0.095% | $5.06B | $5.63B | 500x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,395.2 | −0.200% | $2.4M | $1.7M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,435 | −0.153% | $209K | $8.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,561.8 | −0.005% | $4.7M | $8.9M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,527 | −0.046% | $3.74B | $4.98B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,509.5 | −0.066% | $40.7M | $580.0M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,482.8 | −0.098% | $5.21B | $9.81B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,484 | −0.096% | $2.58B | $12.14B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,465 | −0.118% | $3.9M | $18.2M | 25x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,479 | −0.102% | $5.51B | $10.70B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,405.8 | −0.188% | $35.6M | $176.3M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,543.7 | −0.026% | $153.8M | $564.0M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,549.1 | −0.020% | $279.5M | $920.8M | 100x | as long as short |
| GRVT BTC_USDT_Perplong | +0.0100% | 8h | 85,566.3 | long leg | $214.8M | $169.8M | 50x | |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,483.1 | −0.097% | $139.8M | $314.8M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,563 | −0.004% | $30.2M | $208.1M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,577.4 | +0.013% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,508 | −0.068% | $11.0M | $14.2M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,477 | −0.104% | $190K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,404.9 | −0.189% | $2.4M | $8.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,442.3 | −0.145% | $207K | $738K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,398 | −0.197% | $29.9M | $50.9M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,514.9 | −0.060% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,404 | −0.190% | $59.8M | $336.1M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,425 | −0.165% | $2.26B | $942.3M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,369.3 | −0.230% | $653.8M | $618.7M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,447 | −0.139% | $44.7M | $230.5M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,525.6 | −0.048% | — | $107.5M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,451 | −0.135% | $116.9M | $5.17B | 50x | as long as short |
| Deribit BTC-PERPETUAL | +0.0114% | 1h | 85,450.4 | −0.135% | $884.1M | $1.56B | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0150% | 1h | 85,539 | −0.032% | $340K | $26.9M | 52x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0170% | 1h | 85,422.9 | −0.168% | $187.5M | $955.3M | 100x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,479.8 | −0.101% | $8.2M | $42.5M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC]short | L +0.0202% / S −0.0177% | 1h | 85,455.5 | −0.129% | $13.4M | — | 200x | |
| Aftermath Perps BTCUSD | +0.0203% | 1h | 85,517.1 | −0.057% | $78K | $219K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0208% | 1h | 85,602.9 | +0.043% | $700K | $7.9M | 30x | as long as short |
| Kalshi KXBTCPERP | +0.0218% | 8h | 85,541 | −0.030% | $10.4M | $757.0M | 6.4x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,548.7 | −0.021% | $501K | $18.8M | 6.7x | as long as short |
BingX BTC-USDC
Bitget BTCUSDT
Phemex BTCUSDT
Reya BTCRUSDPERP
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
MEXC BTC_USDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Deribit BTC-PERPETUAL
Injective BTC/USDC PERP
Kraken Futures PF_XBTUSD
RISEx BTC/USDC
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
Kalshi KXBTCPERP
Perpl BTC