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 +0.020%

Price spread now: Vest against GRVT−0.036%7-day average +0.010% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on GRVT Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.007%+$1 on $10k

Price spread, last 3 days (all we have)+0.097%+$10 · spread now −0.036%, 7d avg +0.010%

Together, before fees+0.104%+ Points / potential airdropGRVT: Active · Vest: Active · farm board+$10 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: Vest is 0.046% cheaper against GRVT than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.010%.

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 39m	$160.8M	$97.4M	50x
Short	Vest ETH-PERP	2,764.7	0.0100	get 0.0013% / 1h	39m 02s	—	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now −0.036%Rate

Funding earned: $0.02
Price spread: −0.036% → +0.010%: −$4.61
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Vest: 1 bp × 2 orders: −$2
Net: −$15.59
Costs to cover: 0.110%
Break-even: 6504.6 days

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

Vest: 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	2,764.5	−0.046%	$288K	$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	2,766.1	+0.014%	$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	2,763.3	−0.087%	$171K	$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	2,763.2	−0.089%	$5.8M	$11.9M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,765.9	+0.007%	$12.7M	$45.5M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,764.2	−0.055%	$22.3M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0022%	8h	2,762.6	−0.114%	$1.70B	$11.81B	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	+0.0023%	1h	2,768.6	+0.103%	$29K	$21K	20x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,764.1	−0.057%	$13.0M	—	200x	as long as short
Phemex ETHUSDT	+0.0030%	8h	2,763.3	−0.087%	$265.9M	$66.0M	150x	as long as short
Aster ETHUSDT	+0.0039%	8h	2,762.9	−0.103%	$255.4M	$995.8M	200x	as long as short
MEXC ETH_USDT	+0.0044%	8h	2,762.9	−0.100%	$1.61B	$2.64B	500x	as long as short
Binance ETHUSDT	+0.0045%	8h	2,762.9	−0.101%	$6.42B	$17.19B	150x	as long as short
Aevo ETH-PERP	+0.0048%	1h	2,761.3	−0.160%	$5.0M	$636K	20x	as long as short
Gate ETH_USDT	+0.0062%	8h	2,763	−0.098%	$3.29B	$9.59B	200x	as long as short
Deribit ETH-PERPETUAL	+0.0068%	1h	2,764.9	−0.030%	$258.4M	$224.4M	50x	as long as short
Bitget ETHUSDT	+0.0074%	8h	2,762.8	−0.105%	$2.09B	$3.13B	150x	as long as short
Bullet ETH-USD	+0.0085%	1h	2,763.3	−0.086%	$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	2,763.5	−0.080%	$115.2M	$510.8M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,764.9	−0.030%	$25.3M	$122.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,763.9	−0.065%	—	$41.7M	500x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,763.6	−0.075%	$15.9M	$10.9M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,763.5	−0.080%	$479K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,763.5	−0.079%	$14.8M	$116.5M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,765.7	0.000%	$3.18B	$2.38B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,764.6	−0.040%	$31.1M	$285.6M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,762.7	−0.108%	$2.50B	$4.64B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,764.6	−0.040%	$2.8M	$16.5M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,765.4	−0.012%	$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	2,763.4	−0.084%	$424.0M	$742.7M	100x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,762.8	−0.106%	—	$17.3M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,763.3	−0.088%	$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
Polymarket Perps ETH-USD	+0.0100%	1h	2,764.8	−0.033%	$10.8M	$7.8M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,764.4	−0.048%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,765.8	+0.004%	$42.7M	$29.3M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,764.6	−0.042%	$969K	$14.3M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,763	−0.098%	$55.0M	$228.6M	40x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,762.9	−0.101%	$1.07B	$1.32B	200x	as long as short
Vest ETH-PERPshort	+0.0100%	1h	2,764.7	−0.036%	—	$1.1M	50x
Extended ETH-USD	+0.0104%	1h	2,762.9	−0.103%	$31.4M	$76.2M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,764.6	−0.040%	$60.0M	$4.62B	50x	as long as short
Kalshi KXETHPERP	+0.0117%	8h	2,764.7	−0.037%	$8.6M	$672.5M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0131%	8h	2,766.1	+0.015%	$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	+0.0187%	1h	2,762.4	−0.119%	$7.4M	$986K	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0241%	1h	2,764.3	−0.053%	$88.2M	$330.2M	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