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Funding arb · Price arb /

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 00:12 UTC−0.0212%/8h= −23.2% APRpaid last 24h −0.017%
Price spread now: Perpl against GRVT+0.057%66s7-day average −0.003% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on GRVTShort on Perpl
What this pair did over the last
the charts below follow
Funding, last 7 days+0.114%+$11 on $10k
Price spread, last 7 days−0.059%−$6 · spread now +0.057%, 7d avg −0.003%
Together, before fees+0.054%+ Points / potential airdropGRVT: Active · Perpl: Active · farm board+$5 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Perpl is 0.061% dearer against GRVT than usual: you sell high and buy low (spread +0.057% now, against its 7-day average of −0.003%): +$6 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 23 hours. Mind the row above: over the last 7 days funding on this pair paid +0.114%, so the current rate has only just turned against you. The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.114% in total (about 5.9% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGRVT ETH_USDT_Perp2,770.20.0100pay 0.0100% / 8h7h 44m$161.1M$86.9M50x
ShortPerpl ETH2,771.8−0.0112pay 0.0010% / 43m23m 27s$285K$6.5M8.3x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Perpl against GRVT. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$44.44
Price spread: +0.057% → −0.003%
$6.09
Slippage, 4 orders
no order book: not counted
Fee GRVT: 4.5 bp × 2 orders
−$9
Fee Perpl: 6.9 bp × 2 orders
−$13.8
Net
−$61.15
Costs to cover
0.228%
Break-even
never at this rate
Slippage unknown: GRVT: live order book, 5 min ago; Perpl: 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
LegHalf-spread$10k$100k$1M$5M
Buy GRVT live order book, 5 min ago0.02 bp8.8 bp −$914.5 bp −$14520.2 bp −$2,02213377.3 bp −$6.69M
Sell Perpl no order-book sample—————
Perpl: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective ETH/USDC PERP−0.0752%1h2,770.4+0.006%$119K$22.5M52xas long as short
RISEx ETH/USDC−0.0128%1h2,772.3+0.076%$5.7M$11.4M25xas long as short
Perpl ETHshort−0.0112%43m2,771.8+0.057%$285K$6.5M8.3x
Hotstuff ETH-PERP−0.0080%1h2,773.7+0.125%$5K$1K50xas long as short
01 Exchange ETHUSD−0.0032%1h2,771.7+0.053%$168K$1.1M50xas long as short
Phemex ETHUSDT−0.0028%8h2,772.3+0.076%$270.0M$67.8M150xas long as short
Phoenix ETH−0.0003%1h2,771.8+0.056%$878K$3.7M25xas long as short
dYdX ETH-USD0.0000%1h2,773+0.100%$12.2M$46.1M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,771.5+0.044%$22.4M—200xas long as short
Gate ETH_USDT+0.0008%8h2,772.6+0.086%$3.33B$8.94B200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0022%8h2,770.8+0.020%$1.71B$11.44B100xas long as short
Bullet ETH-USD+0.0023%1h2,770.2−0.001%$183K$1.7M20xas long as short
GMX ETH/USD [ETH-USDC]L +0.0025% / S +0.0009%1h2,771.1+0.031%$12.7M—200xas long as short
Aster ETHUSDT+0.0042%8h2,772.5+0.082%$256.9M$914.3M200xas long as short
Aftermath Perps ETHUSD+0.0046%1h2,771.6+0.049%$31K$23K20xas long as short
SoDEX ETH-USD+0.0047%1h2,772.3+0.074%$55.2M$211.3M40xas long as short
Aevo ETH-PERP+0.0056%1h2,772.2+0.070%$5.0M$165K20xas long as short
MEXC ETH_USDT+0.0058%8h2,770.2−0.003%$1.63B$2.62B500xas long as short
Binance ETHUSDT+0.0059%8h2,770.7+0.017%$6.47B$16.71B150xas long as short
Bitget ETHUSDT+0.0068%8h2,770.6+0.013%$2.10B$2.94B150xas long as short
HTX ETH-USDT+0.0071%8h2,772.4+0.077%$1.08B$1.28B200xas long as short
Coinbase International ETH-PERP-INTX+0.0080%1h2,773.6+0.122%$60.6M$4.52B50xas long as short
KuCoin ETHUSDTM+0.0081%8h2,771.3+0.038%$420.7M$648.3M100xas long as short
Vest ETH-PERP+0.0087%1h2,771.6+0.048%—$911K50xas long as short
Lighter ETH+0.0096%1h2,773.4+0.113%$115.3M$456.6M50xas long as short
Lighter RH ETH+0.0096%1h2,774.4+0.149%$25.2M$110.0M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,772.3+0.073%$15.9M$9.2M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,772+0.064%$487K$2.8M50xas long as short
Nado ETH-PERP+0.0100%1h2,773.3+0.111%$14.5M$116.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,772.9+0.096%$3.17B$2.31B25xas long as short
Pacifica ETH+0.0100%1h2,773.4+0.114%$31.2M$322.6M50xas long as short
Bybit ETHUSDT+0.0100%8h2,770.9+0.025%$2.50B$4.48B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,772.7+0.089%$2.8M$17.1M25xas long as short
Arcus ETH-USD+0.0100%1h2,773.1+0.104%$2.8M$17.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,769.9−0.011%$170.3M$272.1M25xas long as short
BingX ETH-USDC+0.0100%8h2,771+0.028%—$17.5M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,773.3+0.111%$15.3M$42.3M50xas long as short
Variational Omni ETH+0.0100%8h2,770.3+0.001%$151.3M$342.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,768.8−0.051%$181.8M$786.3M100xas long as short
GRVT ETH_USDT_Perplong+0.0100%8h2,770.2long leg$161.1M$86.9M50x
ApeX Omni ETHUSDT+0.0100%1h2,770.3+0.002%$8.7M$32.8M100xas long as short
StandX ETH-USD+0.0100%1h2,770.6+0.013%$21.4M$59.2M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,771+0.028%$10.6M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,772.9+0.095%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,774.6+0.159%$42.7M$29.3M15xas long as short
SunX ETH-USDT+0.0100%8h2,772.3+0.076%$973K$13.5M100xas long as short
Extended ETH-USD+0.0104%1h2,771.8+0.057%$32.5M$73.7M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,773.1+0.105%—$38.3M500xas long as short
Kalshi KXETHPERP+0.0104%8h2,773+0.100%$8.2M$686.7M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0134%1h2,773.8+0.130%$93.4M$325.3M100xas long as short
Orderly PERP_ETH_USDC+0.0148%8h2,775.2+0.180%$32.6M$11.6M100xas long as short
Hibachi ETH/USDT-P+0.0160%1h2,773.2+0.108%$253K$1.5M20xas long as short
Deribit ETH-PERPETUAL+0.0161%1h2,774+0.136%$259.1M$212.2M50xas long as short
BloFin ETH-USDT+0.0178%8h2,772.3+0.076%$287.6M$188.5M150xas long as short
Reya ETHRUSDPERP+0.0209%1h2,770.2−0.002%$7.3M$1.2M25xas long as short