Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h +0.014%

Price spread now: Aevo against GRVT−0.127%7-day average −0.072% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$390.393% of the position

Long on GRVT Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 3 days (all we have)+0.035%+$3 · spread now −0.127%, 7d avg −0.072%

Together, before fees+0.031%+ Points / potential airdropGRVT: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Aevo is 0.055% cheaper against GRVT than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.072%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT ETH_USDT_Perp	2,770.4	0.0100	pay 0.0100% / 8h	10m 50s	$161.1M	$89.8M	50x
Short	Aevo ETH-PERP	2,766.9	0.0056	get 0.0007% / 1h	10m 50s	$5.0M	$636K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo 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 AevobpOrdersPrice spread, now −0.127%Rate

Funding earned: −$9.24
Price spread: −0.127% → −0.072%: −$5.47
Slippage, 4 orders: −$14.3
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$54.01
Costs to cover: 0.393%
Break-even: never at this rate

Slippage from GRVT: live order book, 3 min ago; Aevo: live order book, 3 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 GRVT live order book, 3 min ago	0.02 bp	5.2 bp −$5	5.9 bp −$59	8.0 bp −$797	1170.9 bp −$585.4K
Sell Aevo live order book, 3 min ago	2.64 bp	18.5 bp −$18	29.7 bp −$297	46.9 bp −$4,692	doesn't fit

ETH on 55 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
Perpl ETH	−0.0223%	43m	2,770	−0.014%	$286K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0206%	1h	2,769.1	−0.048%	$5.6M	$11.9M	25x	as long as short
Injective ETH/USDC PERP	−0.0088%	1h	2,762.1	−0.299%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,769.5	−0.032%	$5K	$2K	50x	as long as short
ApeX Omni ETHUSDT	−0.0023%	1h	2,770.5	+0.004%	$8.7M	$32.9M	100x	as long as short
01 Exchange ETHUSD	−0.0008%	1h	2,769.3	−0.039%	$168K	$1.2M	50x	as long as short
dYdX ETH-USD	0.0000%	1h	2,770.8	+0.015%	$12.7M	$45.9M	50x	as long as short
Phoenix ETH	+0.0003%	1h	2,771.8	+0.051%	$876K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,769.5	−0.031%	$22.4M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0022%	8h	2,769.6	−0.028%	$1.70B	$11.88B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX ETH/USD [ETH-USDC]	L +0.0026% / S +0.0009%	1h	2,769.6	−0.030%	$12.8M	—	200x	as long as short
Phemex ETHUSDT	+0.0029%	8h	2,768.5	−0.068%	$269.9M	$68.9M	150x	as long as short
Aftermath Perps ETHUSD	+0.0030%	1h	2,771.6	+0.044%	$29K	$22K	20x	as long as short
SoDEX ETH-USD	+0.0031%	1h	2,768.4	−0.072%	$55.1M	$228.9M	40x	as long as short
Aster ETHUSDT	+0.0032%	8h	2,770.5	+0.005%	$255.7M	$1.00B	200x	as long as short
Bullet ETH-USD	+0.0038%	1h	2,768.9	−0.054%	$181K	$1.7M	20x	as long as short
Deribit ETH-PERPETUAL	+0.0053%	1h	2,770.2	−0.008%	$259.0M	$222.1M	50x	as long as short
Aevo ETH-PERPshort	+0.0056%	1h	2,766.9	−0.127%	$5.0M	$636K	20x
Binance ETHUSDT	+0.0056%	8h	2,769.7	−0.025%	$6.45B	$17.29B	150x	as long as short
MEXC ETH_USDT	+0.0057%	8h	2,770.1	−0.009%	$1.62B	$2.66B	500x	as long as short
Bitget ETHUSDT	+0.0065%	8h	2,770	−0.014%	$2.10B	$3.10B	150x	as long as short
Gate ETH_USDT	+0.0067%	8h	2,770.6	+0.006%	$3.29B	$9.69B	200x	as long as short
KuCoin ETHUSDTM	+0.0080%	8h	2,770	−0.014%	$420.8M	$738.5M	100x	as long as short
Bybit ETHUSDT	+0.0088%	8h	2,769.9	−0.019%	$2.50B	$4.62B	150x	as long as short
BingX ETH-USDT	+0.0088%	8h	2,769.9	−0.018%	—	$1.24B	—	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,769.9	−0.020%	$60.1M	$4.59B	50x	as long as short
HTX ETH-USDT	+0.0094%	8h	2,768.6	−0.064%	$1.08B	$1.32B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,768.9	−0.052%	$115.0M	$500.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,770.6	+0.007%	$25.3M	$122.0M	50x	as long as short
Vest ETH-PERP	+0.0096%	1h	2,769.7	−0.027%	—	$1.1M	50x	as long as short
Nado ETH-PERP	+0.0099%	1h	2,768.9	−0.055%	$14.3M	$118.2M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,768.5	−0.067%	$15.9M	$10.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,768.6	−0.065%	$475K	$2.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,772.4	+0.073%	$3.17B	$2.36B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,769.5	−0.032%	$31.2M	$315.2M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,768.8	−0.057%	$2.8M	$17.2M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,769.9	−0.017%	$2.7M	$17.3M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,773	+0.093%	$170.1M	$265.7M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,768.7	−0.060%	$15.1M	$44.2M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,768.4	−0.071%	$147.1M	$335.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,770	−0.015%	$181.8M	$783.7M	100x	as long as short
GRVT ETH_USDT_Perplong	+0.0100%	8h	2,770.4	long leg	$161.1M	$89.8M	50x
StandX ETH-USD	+0.0100%	1h	2,771.4	+0.036%	$21.4M	$58.5M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,769.1	−0.047%	$10.6M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,769.9	−0.018%	$21K	$24K	25x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,768.1	−0.084%	$971K	$13.9M	100x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,771.2	+0.030%	$42.7M	$29.4M	15x	as long as short
Extended ETH-USD	+0.0104%	1h	2,769.6	−0.028%	$32.5M	$78.3M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,771.1	+0.026%	—	$43.7M	500x	as long as short
Kalshi KXETHPERP	+0.0107%	8h	2,770.1	−0.010%	$8.2M	$687.5M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0123%	1h	2,770	−0.014%	$90.3M	$338.3M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0143%	8h	2,771.3	+0.033%	$32.6M	$12.2M	100x	as long as short
BloFin ETH-USDT	+0.0176%	8h	2,768.4	−0.071%	$286.2M	$194.2M	150x	as long as short
Reya ETHRUSDPERP	+0.0204%	1h	2,768.7	−0.062%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0208%	1h	2,771.6	+0.044%	$252K	$1.6M	20x	as long as short