Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0156%/8h= −17.1% APRpaid last 24h −0.024%

Price spread now: Jupiter Perps against GRVT+0.108%7-day average +0.010% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on GRVT Short on Jupiter Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.127%−$13 on $10k

Price spread, last 3 days (all we have)−0.070%−$7 · spread now +0.108%, 7d avg +0.010%

Together, before fees−0.197%+ Points / potential airdropGRVT: Active · farm board−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Jupiter Perps is 0.098% dearer against GRVT than usual: you sell high and buy low (spread +0.108% now, against its 7-day average of +0.010%): +$10 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT BTC_USDT_Perp	85,544.9	0.0100	pay 0.0100% / 8h	6h 06m	$214.7M	$162.9M	50x
Short	Jupiter Perps WBTC-PERP	85,637	L +0.0104% / S +0.0056%	pay 0.0007% / 1h	6m 53s	—	$102.0M	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Jupiter Perps 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 Jupiter PerpsbpOrdersPrice spread, now +0.108%Rate

Funding earned: −$32.76
Price spread: +0.108% → +0.010%: $9.78
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Net: −$43.98
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 2 min ago; Jupiter Perps: 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	0.01 bp	4.5 bp −$5	4.5 bp −$45	5.1 bp −$512	8.9 bp −$4,441
Sell Jupiter Perps no order-book sample	—	—	—	—	—

Jupiter Perps: 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 55 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	−0.0144%	1h	85,535	−0.012%	$2.1M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,646	+0.118%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0064%	1h	85,601.9	+0.067%	$361K	$2.3M	50x	as long as short
dYdX BTC-USD	+0.0002%	1h	85,603	+0.068%	$16.7M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,634.3	+0.104%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,682	+0.160%	$340K	$26.9M	52x	as long as short
Aster BTCUSDT	+0.0022%	8h	85,615	+0.082%	$516.0M	$1.13B	200x	as long as short
KuCoin XBTUSDTM	+0.0026%	8h	85,607.2	+0.073%	$901.1M	$749.3M	125x	as long as short
Nado BTC-PERP	+0.0034%	1h	85,628.5	+0.098%	$22.8M	$226.5M	50x	as long as short
RISEx BTC/USDC	+0.0044%	1h	85,635.4	+0.106%	$8.3M	$42.1M	25x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX BTC-USDT	+0.0047%	8h	85,619.2	+0.087%	$2.27B	$937.7M	200x	as long as short
BingX BTC-USDC	+0.0056%	8h	85,611.7	+0.078%	—	$17.1M	—	as long as short
Reya BTCRUSDPERP	+0.0061%	1h	85,609	+0.075%	$6.7M	$146.4M	40x	as long as short
Bitget BTCUSDT	+0.0070%	8h	85,616.9	+0.084%	$2.95B	$5.04B	150x	as long as short
SunX BTC-USDT	+0.0072%	8h	85,589.3	+0.052%	$2.9M	$6.6M	100x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,617.9	+0.085%	$2.5M	$1.7M	20x	as long as short
Binance BTCUSDT	+0.0085%	8h	85,625.5	+0.094%	$9.33B	$24.08B	150x	as long as short
MEXC BTC_USDT	+0.0085%	8h	85,622.9	+0.091%	$5.08B	$5.76B	500x	as long as short
Lighter BTC	+0.0096%	1h	85,629.1	+0.098%	$170.4M	$995.9M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,640.1	+0.111%	$23.6M	$148.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,608	+0.074%	$8.4M	$51.8M	100x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	85,646.3	+0.119%	$3.8M	$8.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,550.6	+0.007%	$139.9M	$317.8M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,586	+0.048%	$207K	$7.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,692	+0.172%	$3.76B	$4.91B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,654	+0.127%	$40.2M	$569.5M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,627.4	+0.096%	$5.32B	$9.75B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,630.9	+0.100%	$2.55B	$12.22B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,621	+0.089%	$3.9M	$18.0M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,582.2	+0.044%	$7.2M	$96.5M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,630.3	+0.100%	$5.58B	$10.60B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,616	+0.083%	$35.1M	$166.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,606.4	+0.072%	$156.1M	$555.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,535.8	−0.011%	$278.1M	$937.5M	100x	as long as short
GRVT BTC_USDT_Perplong	+0.0100%	8h	85,544.9	long leg	$214.7M	$162.9M	50x
StandX BTC-USD	+0.0100%	1h	85,515.3	−0.035%	$30.2M	$209.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,654.4	+0.128%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,612	+0.078%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,622.6	+0.091%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,611.3	+0.078%	$2.4M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,660.3	+0.135%	$196K	$721K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,625.3	+0.094%	$30.0M	$56.1M	15x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,630	+0.099%	$60.0M	$336.6M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,627.3	+0.096%	$151.2M	$480.5M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,673.6	+0.150%	$597.8M	$234.3M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,599.9	+0.064%	$44.1M	$228.1M	50x	as long as short
Jupiter Perps WBTC-PERPshort	L +0.0104% / S +0.0056%	1h	85,637	+0.108%	—	$102.0M	500x
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,666	+0.142%	$130.8M	$5.11B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,653.8	+0.127%	$187.5M	$958.6M	100x	as long as short
Hibachi BTC/USDT-P	+0.0168%	1h	85,592	+0.055%	$682K	$7.8M	30x	as long as short
Aftermath Perps BTCUSD	+0.0176%	1h	85,649.4	+0.122%	$78K	$219K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0186%	1h	85,631.1	+0.101%	$13.5M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0211%	8h	85,645	+0.117%	$10.3M	$766.3M	6.4x	as long as short
Deribit BTC-PERPETUAL	+0.0245%	1h	85,683.4	+0.162%	$895.0M	$1.53B	50x	as long as short
Perpl BTC	+0.0447%	43m	85,640.6	+0.112%	$511K	$20.1M	6.7x	as long as short