Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0108%/8h= −11.8% APRpaid last 24h +0.009%

Price spread now: 01 Exchange against GRVT+0.065%56s7-day average −0.025% · you sell dearer than you buy

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−$220.222% of the position

Long on GRVT Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.037%−$4 on $10k

Price spread, last 4 days (all we have)−0.402%−$40 · spread now +0.065%, 7d avg −0.025%

Together, before fees−0.439%+ Points / potential airdropGRVT: Active · farm board−$44 on $10k · with fees, hour by hour

The price spread pays, funding is against you. 01 Exchange is 0.091% dearer against GRVT than usual: you sell high and buy low (spread +0.065% now, against its 7-day average of −0.025%): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.8 days. At the pace of the last 3 days (−0.037% in total) that is about 8.3 days. The two prices were read 56 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	2,770.4	0.0100	pay 0.0100% / 8h	9m 47s	$161.1M	$89.8M	50x
Short	01 Exchange ETHUSD	2,772.2	−0.0008	pay 0.0001% / 1h	9m 47s	$168K	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.065%Rate

Funding earned: −$22.68
Price spread: +0.065% → −0.025%: $9.06
Slippage, 4 orders: −$6.18
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$35.8
Costs to cover: 0.222%
Break-even: never at this rate

Slippage from GRVT: live order book, 4 min ago; 01 Exchange: 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	5.2 bp −$5	5.9 bp −$59	8.0 bp −$797	1170.9 bp −$585.4K
Sell 01 Exchange live order book, 4 min ago	0.18 bp	5.0 bp −$5	11.0 bp −$110	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	−0.0223%	43m	2,770.7	+0.010%	$286K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0206%	1h	2,772.2	+0.064%	$5.6M	$11.9M	25x	as long as short
Injective ETH/USDC PERP	−0.0088%	1h	2,762.1	−0.299%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,769.5	−0.032%	$5K	$2K	50x	as long as short
ApeX Omni ETHUSDT	−0.0023%	1h	2,770.5	+0.004%	$8.7M	$32.9M	100x	as long as short
01 Exchange ETHUSDshort	−0.0008%	1h	2,772.2	+0.065%	$168K	$1.2M	50x
dYdX ETH-USD	0.0000%	1h	2,771.3	+0.033%	$12.7M	$45.9M	50x	as long as short
Phoenix ETH	+0.0003%	1h	2,771.8	+0.051%	$876K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,771.1	+0.024%	$22.4M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0021%	8h	2,769.4	−0.035%	$1.70B	$11.87B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX ETH/USD [ETH-USDC]	L +0.0026% / S +0.0009%	1h	2,770.9	+0.018%	$12.8M	—	200x	as long as short
Phemex ETHUSDT	+0.0027%	8h	2,770	−0.013%	$270.0M	$68.9M	150x	as long as short
Aster ETHUSDT	+0.0031%	8h	2,770.2	−0.006%	$255.7M	$1.00B	200x	as long as short
Aftermath Perps ETHUSD	+0.0032%	1h	2,771.5	+0.040%	$29K	$22K	20x	as long as short
SoDEX ETH-USD	+0.0032%	1h	2,770.3	−0.003%	$55.2M	$228.8M	40x	as long as short
Bullet ETH-USD	+0.0037%	1h	2,770.3	−0.005%	$181K	$1.7M	20x	as long as short
Binance ETHUSDT	+0.0056%	8h	2,769.6	−0.027%	$6.45B	$17.30B	150x	as long as short
MEXC ETH_USDT	+0.0056%	8h	2,769.3	−0.040%	$1.62B	$2.66B	500x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,768.8	−0.057%	$5.0M	$636K	20x	as long as short
Bitget ETHUSDT	+0.0065%	8h	2,770.3	−0.004%	$2.10B	$3.10B	150x	as long as short
Gate ETH_USDT	+0.0068%	8h	2,770.2	−0.007%	$3.29B	$9.69B	200x	as long as short
KuCoin ETHUSDTM	+0.0081%	8h	2,769.5	−0.032%	$421.0M	$738.4M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0082%	1h	2,772.1	+0.060%	$259.0M	$222.1M	50x	as long as short
Bybit ETHUSDT	+0.0088%	8h	2,769.6	−0.030%	$2.50B	$4.63B	150x	as long as short
BingX ETH-USDC	+0.0088%	8h	2,769.9	−0.019%	—	$17.5M	—	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,771.4	+0.036%	$60.2M	$4.59B	50x	as long as short
HTX ETH-USDT	+0.0094%	8h	2,769.7	−0.023%	$1.08B	$1.32B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,770.2	−0.006%	$115.0M	$500.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,772	+0.058%	$25.3M	$122.0M	50x	as long as short
Nado ETH-PERP	+0.0096%	1h	2,771.4	+0.038%	$14.3M	$118.2M	50x	as long as short
Vest ETH-PERP	+0.0096%	1h	2,770.9	+0.018%	—	$1.1M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,769.1	−0.046%	$15.9M	$10.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,771.4	+0.036%	$475K	$2.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,772.6	+0.080%	$3.17B	$2.36B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,770.1	−0.010%	$31.2M	$316.9M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,769.6	−0.029%	$2.8M	$17.2M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,772.8	+0.087%	$2.7M	$17.3M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,773	+0.093%	$170.1M	$265.7M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,770.6	+0.006%	$15.1M	$44.2M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,768.4	−0.071%	$147.1M	$335.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,770	−0.015%	$181.8M	$783.7M	100x	as long as short
GRVT ETH_USDT_Perplong	+0.0100%	8h	2,770.4	long leg	$161.1M	$89.8M	50x
StandX ETH-USD	+0.0100%	1h	2,770.5	+0.004%	$21.4M	$58.6M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,771.7	+0.047%	$10.6M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,771.7	+0.047%	$21K	$24K	25x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,770	−0.014%	$973K	$13.9M	100x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,773	+0.092%	$42.7M	$29.4M	15x	as long as short
Extended ETH-USD	+0.0104%	1h	2,769.8	−0.021%	$32.5M	$78.3M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,771	+0.022%	—	$43.7M	500x	as long as short
Kalshi KXETHPERP	+0.0107%	8h	2,771.3	+0.033%	$8.2M	$687.7M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0123%	1h	2,771.5	+0.041%	$90.4M	$338.6M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0143%	8h	2,773.2	+0.100%	$32.6M	$12.2M	100x	as long as short
BloFin ETH-USDT	+0.0176%	8h	2,768.4	−0.071%	$286.2M	$194.2M	150x	as long as short
Reya ETHRUSDPERP	+0.0205%	1h	2,770.2	−0.007%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0208%	1h	2,770.7	+0.011%	$252K	$1.6M	20x	as long as short