Funding arb · Price arb /

EIGEN

all EIGEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0227%/8h= −24.8% APRpaid last 24h −0.174%

Price spread now: GRVT against Kraken Futures−0.310%75s7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$162as 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−$1221.219% of the position

Long on Kraken Futures Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.402%−$40 on $10k

Price spread, last 4 days (all we have)+0.228%+$23 · spread now −0.310%, 7d avg −0.047%

Together, before fees−0.174%+ Points / potential airdropGRVT: Active · farm board−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and GRVT is 0.264% cheaper against Kraken Futures than usual: you would sell low and buy high (−$26 if the spread goes back to its 7-day average of −0.047%). Swap the legs. The two prices were read 75 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	Kraken Futures PF_EIGENUSD	0.2376	0.0327	pay 0.0041% / 1h	22m 06s	$158K	$111K	20x
Short	GRVT EIGEN_USDT_Perp	0.2369	0.0100	get 0.0050% / 4h	2h 22m	$181K	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Kraken Futures. 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 Kraken FuturesbpFee GRVTbpOrdersPrice spread, now −0.310%Rate

Funding earned: −$47.59
Price spread: −0.310% → −0.047%: −$26.35
Slippage, 4 orders: −$102.88
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$195.82
Costs to cover: 1.219%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 25 min ago; GRVT: live order book, 1 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 Kraken Futures live order book, 25 min ago	6.28 bp	28.2 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 1 min ago	6.34 bp	36.4 bp −$36	56.0 bp −$560	doesn't fit	doesn't fit

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
Bybit EIGENUSDT	−0.0393%	4h	0.2376	−0.003%	$9.1M	$7.2M	50x	as long as short
01 Exchange EIGENUSD	−0.0048%	1h	0.2369	−0.298%	$803	$5K	10x	as long as short
dYdX EIGEN-USD	0.0000%	1h	0.2367	−0.398%	$3K	—	5x	as long as short
Injective EIGEN/USDC PERP	+0.0033%	1h	0.2438	+2.606%	$6	$6	5.5x	as long as short
Deribit EIGEN_USDC-PERPETUAL	+0.0045%	1h	0.2374	−0.100%	—	$41	10x	as long as short
Gate EIGEN_USDT	+0.0072%	4h	0.2372	−0.172%	$713K	$579K	50x	as long as short
Lighter EIGEN	+0.0096%	1h	0.2377	+0.047%	$534K	$507K	5x	as long as short
Nado EIGEN-PERP	+0.0100%	1h	0.2370	−0.235%	$36K	$20K	3x	as long as short
Hyperliquid EIGEN	+0.0100%	1h	0.2380	+0.165%	$4.5M	$1.7M	5x	as long as short
Aster EIGENUSDT	+0.0100%	4h	0.2374	−0.072%	$44K	$26K	5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance EIGENUSDT	+0.0100%	4h	0.2376	−0.023%	$8.0M	$19.8M	75x	as long as short
OKX EIGEN-USDT-SWAP	+0.0100%	4h	0.2376	−0.003%	$1.6M	$4.7M	20x	as long as short
MEXC EIGEN_USDT	+0.0100%	4h	0.2375	−0.045%	$7.8M	$2.3M	125x	as long as short
KuCoin EIGENUSDTM	+0.0100%	4h	0.2372	−0.172%	$2.4M	$9.9M	50x	as long as short
Bitget EIGENUSDT	+0.0100%	4h	0.2374	−0.087%	$1.8M	$1.4M	75x	as long as short
BingX EIGEN-USDC	+0.0100%	4h	0.2372	−0.172%	—	$6.5M	—	as long as short
Variational Omni EIGEN	+0.0100%	4h	0.2363	−0.567%	$211K	$134K	—	as long as short
GRVT EIGEN_USDT_Perpshort	+0.0100%	4h	0.2369	−0.310%	$181K	$2.5M	10x
ApeX Omni EIGENUSDT	+0.0100%	1h	0.2368	−0.340%	$34K	$231K	50x	as long as short
Orderly PERP_EIGEN_USDC_mythos	+0.0100%	4h	0.2373	−0.129%	$1K	$4K	10x	as long as short
Extended EIGEN-USD	+0.0104%	1h	0.2374	−0.071%	$88K	$726K	10x	as long as short
BloFin EIGEN-USDT	+0.0128%	4h	0.2367	−0.382%	$350K	$113K	75x	as long as short
GMX EIGEN/USD [ETH-USDC]	L +0.0195% / S −0.0568%	1h	0.2372	−0.163%	$2K	—	100x	as long as short
Kraken Futures PF_EIGENUSDlong	+0.0327%	1h	0.2376	long leg	$158K	$111K	20x
Coinbase International EIGEN-PERP-INTX	+0.0360%	1h	0.2377	+0.052%	$41K	$266K	50x	as long as short
Reya EIGENRUSDPERP	+0.0520%	1h	0.2372	−0.190%	$828	—	15x	as long as short