Funding arb · Price arb /

EIGEN

all EIGEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.062%

Price spread now: GRVT against Injective−1.338%7-day average — · you buy dearer than you sell

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

Long on Injective Short on GRVT

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 pays, the price is against you. GRVT is 1.338% cheaper against Injective than usual: you would sell low and buy high (spread −1.338% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$134 on $10k: about 2 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective EIGEN/USDC PERP	0.2438	0.0033	pay 0.0004% / 1h	57m 59s	$6	$6	5.5x
Short	GRVT EIGEN_USDT_Perp	0.2405	0.0100	get 0.0050% / 4h	2h 57m	$189K	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Injective. 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 InjectivebpFee GRVTbpOrdersPrice spread, now −1.338%Rate

Funding earned: $14
Price spread: −1.338% → 0.000%: −$133.76
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$128.78
Costs to cover: 0.090%
Break-even: 71.4 days

Slippage unknown: Injective: no order-book sample; GRVT: live order book, 6 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell GRVT live order book, 6 min ago	4.16 bp	24.9 bp −$25	50.5 bp −$505	doesn't fit	doesn't fit

Injective: 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.

EIGEN on 26 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
01 Exchange EIGENUSD	−0.0176%	1h	0.2400	−1.559%	$814	$5K	10x	as long as short
Bybit EIGENUSDT	−0.0160%	4h	0.2396	−1.723%	$9.6M	$8.1M	50x	as long as short
dYdX EIGEN-USD	0.0000%	1h	0.2403	−1.435%	$3K	—	5x	as long as short
Deribit EIGEN_USDC-PERPETUAL	0.0000%	1h	0.2397	−1.661%	—	$86	10x	as long as short
Injective EIGEN/USDC PERPlong	+0.0033%	1h	0.2438	long leg	$6	$6	5.5x
BloFin EIGEN-USDT	+0.0042%	4h	0.2399	−1.600%	$352K	$136K	75x	as long as short
Nado EIGEN-PERP	+0.0100%	1h	0.2401	−1.518%	$29K	$16K	3x	as long as short
Aster EIGENUSDT	+0.0100%	4h	0.2397	−1.661%	$44K	$24K	5x	as long as short
Binance EIGENUSDT	+0.0100%	4h	0.2395	−1.758%	$8.2M	$20.3M	75x	as long as short
OKX EIGEN-USDT-SWAP	+0.0100%	4h	0.2395	−1.764%	$1.6M	$5.0M	20x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate EIGEN_USDT	+0.0100%	4h	0.2396	−1.723%	$717K	$671K	50x	as long as short
MEXC EIGEN_USDT	+0.0100%	4h	0.2395	−1.764%	$8.4M	$2.2M	125x	as long as short
KuCoin EIGENUSDTM	+0.0100%	4h	0.2397	−1.682%	$2.3M	$10.7M	50x	as long as short
Bitget EIGENUSDT	+0.0100%	4h	0.2398	−1.641%	$1.8M	$1.4M	75x	as long as short
BingX EIGEN-USDT	+0.0100%	4h	0.2397	−1.682%	—	$1.6M	—	as long as short
Variational Omni EIGEN	+0.0100%	4h	0.2405	−1.373%	$201K	$152K	—	as long as short
GRVT EIGEN_USDT_Perpshort	+0.0100%	4h	0.2405	−1.338%	$189K	$2.1M	10x
ApeX Omni EIGENUSDT	+0.0100%	1h	0.2407	−1.272%	$36K	$234K	50x	as long as short
Orderly PERP_EIGEN_USDC_mythos	+0.0100%	4h	0.2397	−1.682%	$2K	$2K	10x	as long as short
Extended EIGEN-USD	+0.0104%	1h	0.2396	−1.711%	$91K	$496K	10x	as long as short
Lighter EIGEN	+0.0128%	1h	0.2405	−1.366%	$579K	$392K	5x	as long as short
Coinbase International EIGEN-PERP-INTX	+0.0144%	1h	0.2399	−1.612%	$42K	$159K	50x	as long as short
GMX EIGEN/USD [ETH-USDC]	L +0.0194% / S −0.0568%	1h	0.2400	−1.563%	$2K	—	100x	as long as short
Kraken Futures PF_EIGENUSD	+0.0312%	1h	0.2401	−1.527%	$174K	$67K	20x	as long as short
Reya EIGENRUSDPERP	+0.0511%	1h	0.2400	−1.538%	$838	—	15x	as long as short
Hyperliquid EIGEN	+0.0531%	1h	0.2403	−1.436%	$4.8M	$1.5M	5x	as long as short