Funding arb · Price arb /

DOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.2359%/8h= +258.3% APRpaid last 24h +0.185%

Price spread now: GRVT against Deribit+0.109%7-day average −0.079% · you sell dearer than you buy

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$152as in the Price arb table

costs, in and out, $10k−$1701.705% of the position

Long on Deribit Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.972%+$97 on $10k

Price spread, last 4 days (all we have)−0.031%−$3 · spread now +0.109%, 7d avg −0.079%

Together, before fees+0.942%+ Points / potential airdropGRVT: Active · farm board+$94 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$71 a day on $10k at the current rate, and GRVT is 0.188% dearer against Deribit than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of −0.079%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.972% in total (about 50.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit DOT_USDC-PERPETUAL	1.1927	−0.2259	get 0.0282% / 1h	33m 14s	$229K	$123K	50x
Short	GRVT DOT_USDT_Perp	1.1940	0.0100	get 0.0100% / 8h	3h 33m	$227K	$420K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Deribit. 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 DeribitbpFee GRVTbpOrdersPrice spread, now +0.109%Rate

Funding earned: $495.39
Price spread: +0.109% → −0.079%: $18.77
Slippage, 4 orders: −$154.48
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $343.68
Costs to cover: 1.705%
Break-even: 2.1 days

Slippage from Deribit: live order book, 20 min ago; GRVT: live order book, 19 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 Deribit live order book, 20 min ago	9.58 bp	13.1 bp −$13	21.1 bp −$211	doesn't fit	doesn't fit
Sell GRVT live order book, 19 min ago	4.17 bp	63.0 bp −$63	204.5 bp −$2,045	doesn't fit	doesn't fit

DOT on 29 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
Deribit DOT_USDC-PERPETUALlong	−0.2259%	1h	1.1927	long leg	$229K	$123K	50x
Coinbase International DOT-PERP-INTX	−0.0432%	1h	1.1940	+0.109%	$197K	$1.9M	50x	as long as short
Reya DOTRUSDPERP	−0.0166%	1h	1.1912	−0.122%	$258	—	—	as long as short
dYdX DOT-USD	0.0000%	1h	1.1913	−0.119%	$143K	$6K	10x	as long as short
gTrade (Gains Network) DOT/USD	L 0.0000% / S +0.0004%	1h	1.1920	−0.061%	$3K	—	150x	as long as short
Injective DOT/USDC PERP	+0.0033%	1h	1.2020	+0.780%	$328	$121K	12x	as long as short
Kraken Futures PF_DOTUSD	+0.0057%	1h	1.1925	−0.015%	$4.4M	$1.4M	50x	as long as short
Lighter DOT	+0.0096%	1h	1.1924	−0.026%	$262K	$636K	10x	as long as short
Hyperliquid DOT	+0.0100%	1h	1.1918	−0.075%	$5.4M	$3.3M	10x	as long as short
Aster DOTUSDT	+0.0100%	8h	1.1925	−0.018%	$850K	$593K	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance DOTUSDT	+0.0100%	8h	1.1921	−0.050%	$43.9M	$84.9M	75x	as long as short
Bybit DOTUSDT	+0.0100%	8h	1.1918	−0.075%	$24.4M	$18.8M	75x	as long as short
OKX DOT-USDT-SWAP	+0.0100%	8h	1.1922	−0.042%	$9.4M	$24.4M	50x	as long as short
Gate DOT_USDT	+0.0100%	8h	1.1920	−0.059%	$6.7M	$11.9M	75x	as long as short
MEXC DOT_USDT	+0.0100%	8h	1.1918	−0.075%	$33.5M	$54.7M	300x	as long as short
KuCoin DOTUSDTM	+0.0100%	8h	1.1917	−0.084%	$6.5M	$9.2M	75x	as long as short
Bitget DOTUSDT	+0.0100%	8h	1.1914	−0.109%	$22.7M	$14.5M	75x	as long as short
BingX DOT-USDC	+0.0100%	8h	1.1915	−0.101%	—	$1.3M	—	as long as short
Backpack DOT_USDC_PERP	+0.0100%	1h	1.1913	−0.117%	$93K	$130K	10x	as long as short
Variational Omni DOT	+0.0100%	8h	1.1924	−0.022%	$543K	$58K	—	as long as short
edgeX DOTUSDC	+0.0100%	4h	1.1937	+0.087%	$35K	$336K	20x	as long as short
GRVT DOT_USDT_Perpshort	+0.0100%	8h	1.1940	+0.109%	$227K	$420K	10x
Orderly PERP_DOT_USDC	+0.0100%	8h	1.1910	−0.143%	$8K	$20K	10x	as long as short
SunX DOT-USDT	+0.0100%	8h	1.1938	+0.092%	$2K	$1.3M	20x	as long as short
HTX DOT-USDT	+0.0100%	8h	1.1918	−0.075%	$263K	$261K	75x	as long as short
Extended DOT-USD	+0.0104%	1h	1.1917	−0.087%	$17K	$310K	25x	as long as short
Phemex DOTUSDT	+0.0119%	8h	1.1930	+0.025%	$2.4M	$2.2M	50x	as long as short
BloFin DOT-USDT	+0.0220%	8h	1.1914	−0.109%	$2.2M	$886K	75x	as long as short
GMX DOT/USD [WBTC.b-USDC]	L +0.0302% / S −0.1012%	1h	1.1922	−0.043%	$22K	—	100x	as long as short