Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.020%

Price spread now: Polymarket Perps against GRVT−0.029%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$200.198% of the position

Long on GRVT Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.091%+$9 on $10k

Price spread, last 7 days+0.046%+$5 · spread now −0.029%, 7d avg −0.011%

Together, before fees+0.137%+ Points / potential airdropGRVT: Active · farm board+$14 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT ETH_USDT_Perp	2,776.5	0.0100	pay 0.0100% / 8h	35m 13s	$161.4M	$89.5M	50x
Short	Polymarket Perps ETH-USD	2,775.7	0.0100	get 0.0013% / 1h	35m 13s	$10.7M	$8.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.029%Rate

Funding earned: $0
Price spread: −0.029% → −0.011%: −$1.8
Slippage, 4 orders: −$2.8
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$21.6
Costs to cover: 0.198%
Break-even: never at this rate

Slippage from GRVT: live order book, 4 min ago; Polymarket Perps: live order book, 4 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, 4 min ago	0.02 bp	5.3 bp −$5	6.8 bp −$68	9.2 bp −$915	100.8 bp −$50.4K
Sell Polymarket Perps live order book, 4 min ago	0.18 bp	4.6 bp −$5	6.3 bp −$63	12.9 bp −$1,294	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	−0.0447%	43m	2,775.9	−0.023%	$286K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0206%	1h	2,775.5	−0.036%	$5.6M	$11.9M	25x	as long as short
Injective ETH/USDC PERP	−0.0088%	1h	2,781.9	+0.195%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,776	−0.018%	$5K	$2K	50x	as long as short
ApeX Omni ETHUSDT	−0.0050%	1h	2,776.9	+0.015%	$8.9M	$32.8M	100x	as long as short
01 Exchange ETHUSD	−0.0008%	1h	2,775.9	−0.021%	$168K	$1.2M	50x	as long as short
dYdX ETH-USD	0.0000%	1h	2,776.1	−0.015%	$12.7M	$45.9M	50x	as long as short
Phoenix ETH	+0.0003%	1h	2,778.6	+0.076%	$879K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,775.5	−0.036%	$22.4M	—	200x	as long as short
Aftermath Perps ETHUSD	+0.0007%	1h	2,779	+0.089%	$29K	$22K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDC	+0.0016%	8h	2,774.4	−0.075%	—	$17.4M	—	as long as short
OKX ETH-USDT-SWAP	+0.0020%	8h	2,774.5	−0.070%	$1.70B	$11.87B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0026% / S +0.0009%	1h	2,775.7	−0.030%	$12.9M	—	200x	as long as short
Phemex ETHUSDT	+0.0031%	8h	2,774.5	−0.071%	$270.5M	$69.0M	150x	as long as short
Aster ETHUSDT	+0.0036%	8h	2,774.8	−0.062%	$256.5M	$1.00B	200x	as long as short
Deribit ETH-PERPETUAL	+0.0045%	1h	2,776	−0.017%	$259.0M	$222.4M	50x	as long as short
Bullet ETH-USD	+0.0049%	1h	2,774.8	−0.061%	$182K	$1.7M	20x	as long as short
SoDEX ETH-USD	+0.0053%	1h	2,774.1	−0.086%	$55.2M	$229.1M	40x	as long as short
Binance ETHUSDT	+0.0064%	8h	2,774.3	−0.078%	$6.46B	$17.29B	150x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,772.1	−0.157%	$5.0M	$636K	20x	as long as short
MEXC ETH_USDT	+0.0065%	8h	2,774.3	−0.080%	$1.59B	$2.64B	500x	as long as short
Bitget ETHUSDT	+0.0067%	8h	2,774.4	−0.077%	$2.10B	$3.10B	150x	as long as short
Gate ETH_USDT	+0.0070%	8h	2,774.9	−0.057%	$3.30B	$9.63B	200x	as long as short
KuCoin ETHUSDTM	+0.0088%	8h	2,775.5	−0.035%	$421.9M	$739.8M	100x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,775.4	−0.039%	$60.0M	$4.60B	50x	as long as short
Bybit ETHUSDT	+0.0091%	8h	2,774.3	−0.078%	$2.51B	$4.63B	150x	as long as short
HTX ETH-USDT	+0.0094%	8h	2,775	−0.054%	$1.08B	$1.32B	200x	as long as short
Vest ETH-PERP	+0.0095%	1h	2,775.9	−0.022%	—	$1.1M	50x	as long as short
Lighter ETH	+0.0096%	1h	2,775.1	−0.051%	$116.0M	$497.5M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,776.4	−0.003%	$25.3M	$121.3M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,776.5	+0.002%	—	$42.0M	500x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,774.7	−0.064%	$15.9M	$10.2M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,775.7	−0.029%	$477K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,775.4	−0.039%	$14.3M	$118.2M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,777.6	+0.040%	$3.19B	$2.35B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,775.8	−0.025%	$31.2M	$310.5M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,774.8	−0.061%	$2.8M	$17.2M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,776.6	+0.003%	$2.8M	$17.2M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,777.9	+0.050%	$167.7M	$256.4M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,776.5	0.000%	$15.1M	$44.4M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,775.8	−0.027%	$147.4M	$335.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,776.7	+0.008%	$182.3M	$783.7M	100x	as long as short
GRVT ETH_USDT_Perplong	+0.0100%	8h	2,776.5	long leg	$161.4M	$89.5M	50x
StandX ETH-USD	+0.0100%	1h	2,777.5	+0.036%	$21.5M	$58.5M	40x	as long as short
Polymarket Perps ETH-USDshort	+0.0100%	1h	2,775.7	−0.029%	$10.7M	$8.0M	50x
Bluefin ETH-PERP	+0.0100%	1h	2,775.6	−0.031%	$21K	$24K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,777	+0.020%	$42.7M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,775	−0.054%	$973K	$13.9M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,773.8	−0.099%	$32.7M	$78.0M	50x	as long as short
Kalshi KXETHPERP	+0.0119%	8h	2,776.1	−0.014%	$8.3M	$685.3M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0123%	1h	2,775.3	−0.042%	$86.5M	$333.6M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0139%	8h	2,777.2	+0.024%	$32.6M	$12.1M	100x	as long as short
BloFin ETH-USDT	+0.0184%	8h	2,775	−0.054%	$286.5M	$194.2M	150x	as long as short
Reya ETHRUSDPERP	+0.0200%	1h	2,774.7	−0.064%	$7.4M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,777.2	+0.025%	$252K	$1.6M	20x	as long as short