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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.020%
Price spread now: GRVT against SunX+0.137%7-day average +0.007% · you sell dearer than you buy
Net, funding: paid 7d − costs−$23as in the Funding arb table
Net, price: spread back to 7d avg − costs−$9as in the Price arb table
costs, in and out, $10k−$220.221% of the position
Long on SunXShort on GRVT
What this pair did over the last
the charts below follow
Funding, last 7 days−0.011%−$1 on $10k
Price spread, last 3 days (all we have)−0.109%−$11 · spread now +0.137%, 7d avg +0.007%
Together, before fees−0.120%+ Points / potential airdropGRVT: Active · farm board−$12 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 0.130% dearer against SunX than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.007%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongSunX BTC-USDT86,3500.0100pay 0.0100% / 8h7h 41m$3.4M$5.2M100x
ShortGRVT BTC_USDT_Perp86,468.60.0100get 0.0100% / 8h7h 41m$217.0M$165.5M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

GRVT against SunX. 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

Funding earned
$0
Price spread: +0.137% → +0.007%
$13.03
Slippage, 4 orders
−$5.14
Fee SunX: 4 bp × 2 orders
−$8
Fee GRVT: 4.5 bp × 2 orders
−$9
Net
−$9.11
Costs to cover
0.221%
Break-even
never at this rate
Slippage from SunX: live order book, 7 min ago; GRVT: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy SunX live order book, 7 min ago2.16 bp6.2 bp −$66.8 bp −$689.1 bp −$913doesn't fit
Sell GRVT live order book, 3 min ago0.01 bp4.5 bp −$54.5 bp −$454.7 bp −$469160.4 bp −$80.2K

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phoenix BTC−0.0129%1h86,448+0.113%$2.2M$11.2M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,373+0.027%$9K$3K50xas long as short
01 Exchange BTCUSD−0.0032%1h86,363.8+0.016%$361K$2.4M50xas long as short
Perpl BTC0.0000%43m86,388.2+0.044%$458K$21.9M6.7xas long as short
Deribit BTC-PERPETUAL0.0000%1h86,390+0.046%$903.6M$1.51B50xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,377.2+0.031%$36.9M—200xas long as short
dYdX BTC-USD+0.0020%1h86,402.9+0.061%$16.9M$20.5M50xas long as short
Aster BTCUSDT+0.0021%8h86,369.2+0.022%$500.9M$1.14B200xas long as short
Injective BTC/USDC PERP+0.0023%1h86,616+0.308%$333K$26.9M52xas long as short
KuCoin XBTUSDTM+0.0035%8h86,365+0.017%$831.0M$723.6M125xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phemex BTCUSDT+0.0039%8h86,351.2+0.001%$153.5M$476.2M150xas long as short
Reya BTCRUSDPERP+0.0043%1h86,356.1+0.007%$6.7M$145.7M40xas long as short
BingX BTC-USDT+0.0049%8h86,361.1+0.013%—$1.58B—as long as short
RISEx BTC/USDC+0.0052%1h86,367.6+0.020%$8.3M$42.6M25xas long as short
Bitget BTCUSDT+0.0062%8h86,353.7+0.004%$2.97B$5.06B150xas long as short
MEXC BTC_USDT+0.0078%8h86,351+0.001%$5.13B$5.68B500xas long as short
Binance BTCUSDT+0.0079%8h86,349.4−0.001%$9.40B$24.40B150xas long as short
Aevo BTC-PERP+0.0080%1h86,335−0.017%$2.5M$1.6M20xas long as short
Lighter BTC+0.0096%1h86,363.1+0.015%$170.1M$983.7M50xas long as short
Lighter RH BTC+0.0096%1h86,368.4+0.021%$23.7M$149.0M50xas long as short
Popdex BTCUSDT+0.0096%1h86,355+0.006%$8.4M$52.1M100xas long as short
Katana Perps BTC-USD+0.0100%8h86,331−0.022%$201K$7.1M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,379+0.034%$4.7M$8.5M50xas long as short
Nado BTC-PERP+0.0100%1h86,380.1+0.035%$22.0M$230.2M50xas long as short
Hyperliquid BTC+0.0100%1h86,431+0.094%$3.79B$5.05B40xas long as short
Pacifica BTC+0.0100%1h86,393+0.050%$40.7M$546.1M50xas long as short
Bybit BTCUSDT+0.0100%8h86,356.1+0.007%$5.25B$9.71B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,357.2+0.008%$2.56B$12.55B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,361+0.013%$3.9M$18.0M25xas long as short
Arcus BTC-USD+0.0100%1h86,387.7+0.044%$7.2M$95.6M40xas long as short
Gate BTC_USDT+0.0100%8h86,360.7+0.012%$5.82B$10.52B200xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,431+0.094%$37.4M$156.1M75xas long as short
Variational Omni BTC+0.0100%8h86,351.7+0.002%$158.4M$564.0M—as long as short
edgeX BTCUSDC+0.0100%4h86,429.4+0.092%$279.2M$949.5M100xas long as short
GRVT BTC_USDT_Perpshort+0.0100%8h86,468.6+0.137%$217.0M$165.5M50x
ApeX Omni BTCUSDT+0.0100%1h86,422.4+0.084%$141.5M$322.2M100xas long as short
StandX BTC-USD+0.0100%1h86,422.8+0.084%$30.7M$208.8M40xas long as short
Vest BTC-PERP+0.0100%1h86,417+0.078%—$11.8M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,358+0.009%$11.1M$14.1M50xas long as short
Bullet BTC-USD+0.0100%1h86,360.9+0.013%$192K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,354.8+0.006%$2.5M$8.9M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,393.7+0.051%$144K$667K40xas long as short
Derive BTC-PERP+0.0100%1h86,389.9+0.046%$30.5M$62.5M15xas long as short
SunX BTC-USDTlong+0.0100%8h86,350long leg$3.4M$5.2M100x
SoDEX BTC-USD+0.0100%1h86,355+0.006%$60.4M$338.2M40xas long as short
HTX BTC-USDT+0.0100%8h86,341.1−0.010%$2.29B$964.3M200xas long as short
Bulk BTC-USD+0.0100%1h86,336.3−0.016%$571.6M$13.0M40xas long as short
Extended BTC-USD+0.0104%1h86,345.2−0.006%$45.9M$222.5M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,375.1+0.029%—$99.2M500xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,395+0.052%$132.2M$5.48B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,387.6+0.043%$192.1M$944.8M100xas long as short
Hibachi BTC/USDT-P+0.0160%1h86,468+0.137%$712K$8.0M30xas long as short
Aftermath Perps BTCUSD+0.0165%1h86,420.3+0.081%$78K$217K20xas long as short
BloFin BTC-USDT+0.0199%8h86,354.6+0.005%$414.4M$649.7M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0203% / S −0.0217%1h86,374.4+0.028%$14.5M—200xas long as short
Kalshi KXBTCPERP+0.0211%8h86,409+0.068%$9.9M$762.2M6.4xas long as short