Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.015%

Price spread now: Derive against GRVT+0.082%73s7-day average — · you sell dearer than you buy

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

Long on GRVT Short on Derive

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Derive is 0.082% dearer against GRVT than usual: you sell high and buy low, +$8 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 73 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 CC_USDT_Perp	0.1184	0.0100	pay 0.0050% / 4h	2h 10m	$91K	$2.4M	10x
Short	Derive CC-PERP	0.1185	0.0100	get 0.0013% / 1h	10m 08s	$6K	$36K	6.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against GRVT. 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 GRVTbpFee DerivebpOrdersPrice spread, now +0.082%Rate

Funding earned: $0
Price spread: +0.082% → 0.000%: $8.2
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Derive: 3 bp × 2 orders: −$6
Net: −$6.8
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 3 min ago; Derive: 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, 3 min ago	2.11 bp	31.2 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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.

CC on 18 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
Injective CC/USDC PERP	−0.3556%	1h	0.1173	−0.905%	$6K	$100	5.5x	as long as short
Bybit CCUSDT	−0.0181%	4h	0.1186	+0.168%	$10.8M	$3.9M	25x	as long as short
MEXC CC_USDT	−0.0156%	4h	0.1184	+0.066%	$1.6M	$315K	100x	as long as short
Paradex CC-USD-PERP	+0.0092%	8h	0.1185	+0.086%	$1K	—	5x	as long as short
Aster CCUSDT	+0.0100%	4h	0.1185	+0.115%	$35K	$39K	20x	as long as short
Binance CCUSDT	+0.0100%	4h	0.1185	+0.075%	$11.2M	$12.0M	75x	as long as short
OKX CC-USDT-SWAP	+0.0100%	4h	0.1186	+0.151%	$2.6M	$3.6M	20x	as long as short
Gate CC_USDT	+0.0100%	4h	0.1184	+0.066%	$368K	$219K	50x	as long as short
KuCoin CCUSDTM	+0.0100%	4h	0.1187	+0.269%	$488K	$121K	50x	as long as short
Bitget CCUSDT	+0.0100%	4h	0.1186	+0.176%	$936K	$805K	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CC-USDT	+0.0100%	4h	0.1185	+0.134%	—	$6.6M	—	as long as short
Backpack CC_USDC_PERP	+0.0100%	1h	0.1185	+0.125%	$16K	$22K	10x	as long as short
Variational Omni CC	+0.0100%	4h	0.1184	+0.061%	$603K	$55K	—	as long as short
GRVT CC_USDT_Perplong	+0.0100%	4h	0.1184	long leg	$91K	$2.4M	10x
Derive CC-PERPshort	+0.0100%	1h	0.1185	+0.082%	$6K	$36K	6.7x
Hyperliquid CC	+0.0207%	1h	0.1188	+0.362%	$5.6M	$1.4M	3x	as long as short
GMX CC/USD [WBTC.b-USDC]	L +0.0451% / S −0.0241%	1h	0.1186	+0.212%	$44K	—	50x	as long as short
Lighter CC	+0.0792%	1h	0.1190	+0.548%	$240K	$155K	5x	as long as short