Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h −0.007%

Price spread now: RISEx against GRVT−0.134%55s7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$170.166% of the position

Long on GRVT Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.003%$0 on $10k

Price spread, last 7 days+0.166%+$17 · spread now −0.134%, 7d avg −0.018%

Together, before fees+0.169%+ Points / potential airdropGRVT: Active · farm board+$17 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: RISEx is 0.116% cheaper against GRVT than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.018%. The two prices were read 55 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	2,739	0.0100	pay 0.0100% / 8h	4h 50m	$159.4M	$84.4M	50x
Short	RISEx ETH/USDC	2,735.3	0.0099	get 0.0012% / 1h	50m 36s	$5.6M	$11.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.134%Rate

Funding earned: −$0.21
Price spread: −0.134% → −0.018%: −$11.63
Slippage, 4 orders: −$1.64
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$28.48
Costs to cover: 0.166%
Break-even: never at this rate

Slippage from GRVT: live order book, 4 min ago; RISEx: 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	4.5 bp −$5	4.8 bp −$48	7.9 bp −$787	4531.3 bp −$2.27M
Sell RISEx live order book, 4 min ago	0.02 bp	3.6 bp −$4	4.8 bp −$48	doesn't fit	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	2,735.2	−0.139%	$300K	$5.5M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,739.3	+0.012%	$118K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,738.1	−0.032%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,736.5	−0.091%	$12.0M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,734.9	−0.148%	$10.8M	$41.7M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,735	−0.145%	$181K	$833K	50x	as long as short
Phoenix ETH	0.0000%	1h	2,741.2	+0.081%	$832K	$2.9M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,736.1	−0.104%	$25.7M	—	200x	as long as short
Bullet ETH-USD	+0.0047%	1h	2,735.9	−0.112%	$180K	$1.7M	20x	as long as short
SoDEX ETH-USD	+0.0049%	1h	2,735.8	−0.116%	$54.5M	$187.6M	40x	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	+0.0055%	8h	2,733.8	−0.188%	—	$18.4M	—	as long as short
OKX ETH-USDT-SWAP	+0.0071%	8h	2,735.5	−0.129%	$1.68B	$10.61B	100x	as long as short
KuCoin ETHUSDTM	+0.0072%	8h	2,734.5	−0.164%	$380.7M	$573.6M	100x	as long as short
Aster ETHUSDT	+0.0084%	8h	2,737	−0.073%	$253.1M	$840.4M	200x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,733.1	−0.213%	$4.9M	$154K	20x	as long as short
MEXC ETH_USDT	+0.0091%	8h	2,734.5	−0.164%	$1.55B	$2.52B	500x	as long as short
Binance ETHUSDT	+0.0091%	8h	2,734.9	−0.147%	$6.35B	$15.71B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,734.9	−0.147%	$112.6M	$432.3M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,737	−0.071%	$24.1M	$103.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,735.5	−0.126%	—	$30.5M	500x	as long as short
RISEx ETH/USDCshort	+0.0099%	1h	2,735.3	−0.134%	$5.6M	$11.4M	25x
Paradex ETH-USD-PERP	+0.0100%	8h	2,739.9	+0.033%	$15.8M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,734	−0.182%	$499K	$3.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,735.5	−0.127%	$13.9M	$104.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,739.7	+0.027%	$3.11B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,736	−0.109%	$31.6M	$335.1M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,734.8	−0.152%	$2.43B	$4.19B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,734.3	−0.171%	$2.7M	$16.9M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,735.1	−0.143%	$2.8M	$16.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,740.8	+0.065%	$166.9M	$306.7M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,734.9	−0.149%	$3.38B	$8.69B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,734.6	−0.161%	$2.07B	$2.72B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,736.1	−0.106%	$15.0M	$39.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,734.9	−0.149%	$133.1M	$324.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,738	−0.037%	$182.0M	$665.6M	100x	as long as short
GRVT ETH_USDT_Perplong	+0.0100%	8h	2,739	long leg	$159.4M	$84.4M	50x
ApeX Omni ETHUSDT	+0.0100%	1h	2,738	−0.037%	$8.7M	$30.7M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,739.3	+0.012%	$21.1M	$69.6M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,736.9	−0.075%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,737.2	−0.065%	$10.9M	$8.8M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,737.3	−0.062%	$41.4M	$29.7M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,735.3	−0.134%	$960K	$11.4M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,735.8	−0.116%	$1.06B	$1.18B	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,736	−0.109%	$265.9M	$65.1M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,733.8	−0.189%	$30.6M	$72.4M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,737.5	−0.055%	$51.1M	$4.26B	50x	as long as short
Aftermath Perps ETHUSD	+0.0123%	1h	2,739	+0.003%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0156%	8h	2,736.3	−0.098%	$7.7M	$672.9M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0194%	8h	2,737.8	−0.044%	$32.2M	$11.4M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0196%	1h	2,737.5	−0.055%	$260.0M	$194.6M	50x	as long as short
BloFin ETH-USDT	+0.0211%	8h	2,735.5	−0.126%	$285.2M	$172.6M	150x	as long as short
Kraken Futures PF_ETHUSD	+0.0222%	1h	2,736.6	−0.086%	$85.6M	$310.0M	100x	as long as short
Reya ETHRUSDPERP	+0.0224%	1h	2,735.3	−0.135%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,739.6	+0.022%	$252K	$1.4M	20x	as long as short
Bluefin ETH-PERP	+0.1422%	1h	2,736.1	−0.104%	$21K	$20K	25x	as long as short