Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.038%

Price spread now: Bluefin against GRVT+0.052%72s7-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 Bluefin

What this pair did over the last

the charts below follow

Funding, last 5 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: Bluefin is 0.052% dearer against GRVT than usual: you sell high and buy low, +$5 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 72 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 ETH_USDT_Perp	2,765.7	0.0100	pay 0.0100% / 8h	2h 38m	$160.8M	$97.4M	50x
Short	Bluefin ETH-PERP	2,767.2	0.0100	get 0.0013% / 1h	38m 05s	$21K	$25K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin 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 BluefinbpOrdersPrice spread, now +0.052%Rate

Funding earned: $0
Price spread: +0.052% → 0.000%: $5.23
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$10.77
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 6 min ago; Bluefin: 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, 6 min ago	0.02 bp	4.5 bp −$5	5.1 bp −$51	8.1 bp −$810	1157.5 bp −$578.7K
Sell Bluefin no order-book sample	—	—	—	—	—

Bluefin: 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.

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	−0.0112%	43m	2,764.8	−0.032%	$289K	$6.8M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0107%	1h	2,766.1	+0.014%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,763.9	−0.066%	$5K	$2K	50x	as long as short
ApeX Omni ETHUSDT	−0.0072%	1h	2,765.2	−0.017%	$10.4M	$30.9M	100x	as long as short
01 Exchange ETHUSD	−0.0064%	1h	2,765.3	−0.015%	$172K	$1.2M	50x	as long as short
Phoenix ETH	−0.0023%	1h	2,766.8	+0.039%	$794K	$3.7M	25x	as long as short
RISEx ETH/USDC	−0.0011%	1h	2,765.2	−0.019%	$5.8M	$11.9M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,764	−0.060%	$12.7M	$45.5M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,767.6	+0.066%	$22.3M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0022%	8h	2,767.9	+0.079%	$1.70B	$11.83B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps ETHUSD	+0.0024%	1h	2,767.7	+0.070%	$29K	$21K	20x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,767.3	+0.058%	$13.1M	—	200x	as long as short
Phemex ETHUSDT	+0.0030%	8h	2,766.7	+0.035%	$266.2M	$66.0M	150x	as long as short
Aster ETHUSDT	+0.0038%	8h	2,767.4	+0.061%	$255.9M	$995.5M	200x	as long as short
MEXC ETH_USDT	+0.0045%	8h	2,766.7	+0.036%	$1.62B	$2.65B	500x	as long as short
Binance ETHUSDT	+0.0045%	8h	2,767.9	+0.078%	$6.43B	$17.19B	150x	as long as short
Aevo ETH-PERP	+0.0048%	1h	2,764.5	−0.044%	$5.0M	$636K	20x	as long as short
Gate ETH_USDT	+0.0064%	8h	2,767.3	+0.056%	$3.29B	$9.59B	200x	as long as short
Bitget ETHUSDT	+0.0074%	8h	2,768	+0.083%	$2.09B	$3.13B	150x	as long as short
Bullet ETH-USD	+0.0085%	1h	2,766.2	+0.016%	$183K	$1.8M	20x	as long as short
Variational Omni ETH	+0.0091%	8h	2,765.4	−0.012%	$140.3M	$319.1M	—	as long as short
Lighter ETH	+0.0096%	1h	2,767.1	+0.050%	$115.4M	$510.9M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,768.6	+0.103%	$25.3M	$122.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,765.7	−0.002%	—	$41.7M	500x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,764.5	−0.045%	$15.9M	$10.9M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,765.3	−0.015%	$480K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,764.4	−0.046%	$14.8M	$116.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,769.4	+0.133%	$3.19B	$2.38B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,765.1	−0.022%	$31.1M	$285.6M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,768	+0.084%	$2.50B	$4.64B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,764.1	−0.058%	$2.8M	$16.5M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,766.9	+0.042%	$2.7M	$17.5M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,765.5	−0.006%	$164.9M	$254.7M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,766.6	+0.033%	$424.6M	$742.8M	100x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,766.7	+0.037%	—	$17.3M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,767.4	+0.061%	$15.3M	$42.4M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,765.4	−0.012%	$177.8M	$790.5M	100x	as long as short
GRVT ETH_USDT_Perplong	+0.0100%	8h	2,765.7	long leg	$160.8M	$97.4M	50x
StandX ETH-USD	+0.0100%	1h	2,766.5	+0.028%	$21.4M	$57.7M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,766.2	+0.019%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,767.2	+0.054%	$10.8M	$7.8M	50x	as long as short
Bluefin ETH-PERPshort	+0.0100%	1h	2,767.2	+0.052%	$21K	$25K	25x
Derive ETH-PERP	+0.0100%	1h	2,769.1	+0.122%	$42.6M	$29.3M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,766	+0.009%	$971K	$14.3M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,766.7	+0.036%	$55.1M	$228.6M	40x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,765.9	+0.007%	$1.08B	$1.32B	200x	as long as short
Extended ETH-USD	+0.0104%	1h	2,767.7	+0.073%	$31.4M	$76.2M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,768.4	+0.095%	$60.2M	$4.62B	50x	as long as short
Deribit ETH-PERPETUAL	+0.0115%	1h	2,768.5	+0.099%	$258.4M	$224.5M	50x	as long as short
Kalshi KXETHPERP	+0.0118%	8h	2,765.3	−0.015%	$8.6M	$671.9M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0131%	8h	2,769.7	+0.143%	$32.5M	$11.9M	100x	as long as short
BloFin ETH-USDT	+0.0165%	8h	2,763.1	−0.094%	$285.6M	$194.7M	150x	as long as short
Reya ETHRUSDPERP	+0.0186%	1h	2,765.1	−0.022%	$7.4M	$992K	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0241%	1h	2,768.2	+0.088%	$88.3M	$329.4M	100x	as long as short
Hibachi ETH/USDT-P	+0.0416%	1h	2,767.9	+0.079%	$272K	$1.5M	20x	as long as short