Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: GRVT against Polymarket Perps+0.220%63s7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$420as 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−$4174.169% of the position

Long on Polymarket Perps Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.032%−$3 on $10k

Price spread, last 7 days−0.184%−$18 · spread now +0.220%, 7d avg +0.014%

Together, before fees−0.216%+ Points / potential airdropGRVT: Active · farm board−$22 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 0.205% dearer against Polymarket Perps than usual: you sell high and buy low, +$21 on $10k if it goes back to its 7-day average of +0.014%. The two prices were read 63 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	Polymarket Perps BTC-USD	85,230	0.0100	pay 0.0013% / 1h	39m 35s	$10.9M	$14.8M	50x
Short	GRVT BTC_USDT_Perp	85,417.2	0.0100	get 0.0100% / 8h	7h 39m	$214.5M	$154.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Polymarket Perps. 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 Polymarket PerpsbpFee GRVTbpOrdersPrice spread, now +0.220%Rate

Funding earned: $0
Price spread: +0.220% → +0.014%: $20.52
Slippage, 4 orders: −$399.87
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$396.35
Costs to cover: 4.169%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 5 min ago; GRVT: live order book, 5 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 Polymarket Perps live order book, 5 min ago	17.36 bp	279.3 bp −$279	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 5 min ago	0.01 bp	4.5 bp −$5	4.5 bp −$45	5.2 bp −$515	9.1 bp −$4,547

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
Bluefin BTC-PERP	−0.2316%	1h	85,499.6	+0.316%	$194K	$796K	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,432	+0.237%	$8K	$2K	50x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,434.1	+0.239%	$422.8M	$681.7M	150x	as long as short
Injective BTC/USDC PERP	−0.0006%	1h	85,495	+0.311%	$307K	$24.2M	52x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,505.1	+0.323%	$346K	$2.3M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,459.5	+0.269%	$36.5M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0012%	8h	85,476.6	+0.289%	$931.8M	$776.4M	125x	as long as short
Aster BTCUSDT	+0.0031%	8h	85,478.2	+0.291%	$502.9M	$1.08B	200x	as long as short
dYdX BTC-USD	+0.0055%	1h	85,468.3	+0.280%	$16.7M	$21.0M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0068%	1h	85,503.9	+0.321%	$186.4M	$946.8M	100x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix BTC	+0.0075%	1h	85,525	+0.346%	$2.3M	$10.4M	40x	as long as short
BingX BTC-USDC	+0.0080%	8h	85,480	+0.293%	—	$17.4M	—	as long as short
Lighter BTC	+0.0096%	1h	85,501.6	+0.319%	$170.5M	$943.5M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,512.2	+0.331%	$23.6M	$134.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,442	+0.249%	$8.7M	$58.5M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,444.1	+0.251%	$2.4M	$6.7M	20x	as long as short
Nado BTC-PERP	+0.0100%	1h	85,440.5	+0.247%	$24.0M	$217.5M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,471	+0.283%	$266K	$8.8M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,526.8	+0.348%	$5.7M	$9.6M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,522.9	+0.344%	$40.5M	$604.9M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,495.5	+0.312%	$9.41B	$25.10B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,494.3	+0.310%	$5.09B	$9.99B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,497.9	+0.314%	$2.61B	$12.21B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,515	+0.334%	$3.9M	$17.4M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,511.4	+0.330%	$4.6M	$97.5M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,453	+0.262%	$700.3M	$171.9M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,499.4	+0.316%	$5.51B	$9.88B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,492.6	+0.308%	$5.05B	$5.73B	500x	as long as short
Bitget BTCUSDT	+0.0100%	8h	85,491	+0.306%	$2.99B	$5.17B	150x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,481.2	+0.295%	$37.8M	$193.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,426.7	+0.231%	$156.0M	$543.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,469.8	+0.281%	$283.4M	$962.5M	100x	as long as short
GRVT BTC_USDT_Perpshort	+0.0100%	8h	85,417.2	+0.220%	$214.5M	$154.9M	50x
ApeX Omni BTCUSDT	+0.0100%	1h	85,478.7	+0.292%	$136.6M	$312.4M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,483.9	+0.298%	$30.1M	$218.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,521.7	+0.342%	—	$10.3M	50x	as long as short
Polymarket Perps BTC-USDlong	+0.0100%	1h	85,230	long leg	$10.9M	$14.8M	50x
Bullet BTC-USD	+0.0100%	1h	85,451	+0.259%	$198K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,455.5	+0.265%	$2.7M	$9.9M	100x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,481.1	+0.295%	$2.9M	$6.7M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,480	+0.293%	$59.8M	$336.5M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,470	+0.282%	$2.26B	$974.1M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,488.7	+0.304%	$161.5M	$517.6M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,468.5	+0.280%	$45.8M	$241.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,471.6	+0.284%	—	$107.4M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,522.5	+0.343%	$111.6M	$5.46B	50x	as long as short
Reya BTCRUSDPERP	+0.0148%	1h	85,432.3	+0.237%	$6.6M	$138.7M	40x	as long as short
Derive BTC-PERP	+0.0161%	1h	85,508.7	+0.327%	$28.9M	$52.4M	15x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0174% / S −0.0148%	1h	85,504.8	+0.322%	$13.0M	—	200x	as long as short
Hyperliquid BTC	+0.0175%	1h	85,562	+0.390%	$3.84B	$5.13B	40x	as long as short
Kalshi KXBTCPERP	+0.0191%	8h	85,486	+0.300%	$10.6M	$738.3M	6.4x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,514.6	+0.334%	$8.9M	$42.6M	25x	as long as short
Deribit BTC-PERPETUAL	+0.0224%	1h	85,525.3	+0.346%	$828.1M	$1.66B	50x	as long as short
Aftermath Perps BTCUSD	+0.0307%	1h	85,506.9	+0.325%	$81K	$248K	20x	as long as short
Hibachi BTC/USDT-P	+0.0352%	1h	85,487.4	+0.302%	$688K	$7.7M	30x	as long as short
Perpl BTC	+0.0447%	43m	85,478.6	+0.292%	$467K	$18.3M	6.7x	as long as short