Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.008%

Price spread now: GRVT against OKX+0.035%81s7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as 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−$190.190% of the position

Long on OKX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 7 days−0.029%−$3 · spread now +0.035%, 7d avg −0.001%

Together, before fees−0.015%+ Points / potential airdropGRVT: Active · farm board−$1 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: GRVT is 0.036% dearer against OKX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.001%. The two prices were read 81 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	OKX BTC-USDT-SWAP	85,243.5	0.0100	pay 0.0100% / 8h	2h 38m	$2.57B	$12.18B	100x
Short	GRVT BTC_USDT_Perp	85,273.7	0.0100	get 0.0100% / 8h	2h 38m	$214.3M	$168.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against OKX. 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 OKXbpFee GRVTbpOrdersPrice spread, now +0.035%Rate

Funding earned: $0
Price spread: +0.035% → −0.001%: $3.61
Slippage, 4 orders: −$0.03
Fee OKX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$15.43
Costs to cover: 0.190%
Break-even: never at this rate

Slippage from OKX: live order book, 6 min ago; GRVT: live order book, 6 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 OKX live order book, 6 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.0 bp −$501	5.9 bp −$2,974
Sell GRVT live order book, 6 min ago	0.01 bp	4.5 bp −$5	4.6 bp −$46	5.4 bp −$544	9.1 bp −$4,536

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
Perpl BTC	−0.0112%	43m	85,242.9	−0.001%	$527K	$18.7M	6.7x	as long as short
Phoenix BTC	−0.0111%	1h	85,200	−0.051%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,203	−0.048%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0054%	8h	85,236.8	−0.008%	$922.1M	$762.9M	125x	as long as short
BloFin BTC-USDT	−0.0036%	8h	85,202.1	−0.049%	$420.1M	$679.3M	150x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	85,242.7	−0.001%	$383K	$2.3M	50x	as long as short
Aster BTCUSDT	−0.0015%	8h	85,226.1	−0.020%	$512.5M	$1.10B	200x	as long as short
dYdX BTC-USD	+0.0001%	1h	85,238.9	−0.005%	$16.7M	$21.7M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,244.4	+0.001%	$36.4M	—	200x	as long as short
Nado BTC-PERP	+0.0014%	1h	85,223.6	−0.023%	$24.5M	$222.8M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0023%	1h	85,225	−0.022%	$338K	$26.8M	52x	as long as short
SoDEX BTC-USD	+0.0051%	1h	85,240	−0.004%	$59.7M	$335.9M	40x	as long as short
Kraken Futures PF_XBTUSD	+0.0056%	1h	85,264.5	+0.025%	$187.1M	$957.0M	100x	as long as short
Bullet BTC-USD	+0.0060%	1h	85,226	−0.021%	$204K	$3.3M	20x	as long as short
BingX BTC-USDC	+0.0066%	8h	85,211.2	−0.038%	—	$17.3M	—	as long as short
Phemex BTCUSDT	+0.0073%	8h	85,238.9	−0.005%	$149.1M	$503.2M	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,233	−0.012%	$2.4M	$6.7M	20x	as long as short
Bitget BTCUSDT	+0.0083%	8h	85,244.3	+0.001%	$2.95B	$5.17B	150x	as long as short
MEXC BTC_USDT	+0.0084%	8h	85,232.2	−0.013%	$5.06B	$5.69B	500x	as long as short
Binance BTCUSDT	+0.0084%	8h	85,242.2	−0.002%	$9.42B	$24.82B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,249.1	+0.007%	$171.2M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,250.5	+0.008%	$23.7M	$147.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,237	−0.008%	$8.3M	$55.6M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0096%	1h	85,283.6	+0.047%	$117.4M	$5.33B	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,212	−0.037%	$237K	$8.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,286	+0.050%	$5.6M	$9.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,321	+0.091%	$3.75B	$5.05B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,267.6	+0.028%	$40.1M	$595.5M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,236.9	−0.008%	$5.15B	$9.93B	150x	as long as short
OKX BTC-USDT-SWAPlong	+0.0100%	8h	85,243.5	long leg	$2.57B	$12.18B	100x
Ondo Perps BTC-USD.P	+0.0100%	1h	85,228	−0.018%	$3.8M	$17.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,241.1	−0.003%	$4.6M	$99.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,324.1	+0.095%	$679.5M	$626.7M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,231.9	−0.014%	$5.51B	$10.87B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,207.1	−0.043%	$36.0M	$174.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,226.6	−0.020%	$154.6M	$565.9M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,305.9	+0.073%	$279.2M	$939.3M	100x	as long as short
GRVT BTC_USDT_Perpshort	+0.0100%	8h	85,273.7	+0.035%	$214.3M	$168.8M	50x
ApeX Omni BTCUSDT	+0.0100%	1h	85,282.7	+0.046%	$139.4M	$315.4M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,190	−0.063%	$30.1M	$206.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,306.4	+0.074%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,250	+0.008%	$11.0M	$14.4M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,230.3	−0.015%	$2.4M	$9.1M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,275.6	+0.038%	$217K	$750K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,219.2	−0.028%	$30.0M	$50.4M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,231.4	−0.014%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,222.9	−0.024%	$2.26B	$954.0M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,218.6	−0.029%	$45.5M	$237.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,254.4	+0.013%	—	$107.0M	500x	as long as short
Reya BTCRUSDPERP	+0.0112%	1h	85,249.2	+0.007%	$6.6M	$147.4M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0145%	1h	85,286.9	+0.051%	$872.4M	$1.61B	50x	as long as short
Kalshi KXBTCPERP	+0.0174%	8h	85,273	+0.035%	$11.3M	$748.9M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,241.7	−0.002%	$13.0M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0224%	1h	85,238.2	−0.006%	$716K	$8.0M	30x	as long as short
Aftermath Perps BTCUSD	+0.0226%	1h	85,305.4	+0.073%	$78K	$225K	20x	as long as short
RISEx BTC/USDC	+0.0257%	1h	85,267.6	+0.028%	$8.7M	$43.1M	25x	as long as short