Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0144%/8h= +15.8% APRpaid last 24h +0.032%

Price spread now: GRVT against Injective+0.079%7-day average −0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$710.705% of the position

Long on Injective Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.172%−$17 on $10k

Price spread, last 4 days (all we have)+0.412%+$41 · spread now +0.079%, 7d avg −0.039%

Together, before fees+0.240%+ Points / potential airdropGRVT: Active · farm board+$24 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and GRVT is 0.118% dearer against Injective than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.039%. Mind the row above: over the last 7 days funding on this pair cost −0.172%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ETH/USDC PERP	2,742.7	−0.0044	get 0.0005% / 1h	18m 25s	$118K	$22.5M	52x
Short	GRVT ETH_USDT_Perp	2,744.9	0.0100	get 0.0100% / 8h	5h 18m	$159.6M	$83.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Injective. 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 InjectivebpFee GRVTbpOrdersPrice spread, now +0.079%Rate

Funding earned: $30.22
Price spread: +0.079% → −0.039%: $11.81
Slippage, 4 orders: −$61.51
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$28.5
Costs to cover: 0.705%
Break-even: 13.6 days

Slippage from Injective: live order book, 1 min ago; GRVT: live order book, 6 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 Injective live order book, 1 min ago	14.72 bp	14.7 bp −$15	14.7 bp −$147	14.7 bp −$1,473	20861.9 bp −$10.43M
Sell GRVT live order book, 6 min ago	0.02 bp	4.5 bp −$5	4.8 bp −$48	8.1 bp −$807	17.7 bp −$8,839

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
Hotstuff ETH-PERP	−0.0080%	1h	2,746.2	+0.128%	$5K	$1K	50x	as long as short
Injective ETH/USDC PERPlong	−0.0044%	1h	2,742.7	long leg	$118K	$22.5M	52x
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,745.1	+0.087%	$12.1M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,746	+0.119%	$10.8M	$41.7M	50x	as long as short
Perpl ETH	0.0000%	43m	2,746.2	+0.129%	$305K	$5.6M	8.3x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,744.9	+0.080%	$25.1M	—	200x	as long as short
Phoenix ETH	+0.0017%	1h	2,747.9	+0.190%	$849K	$2.9M	25x	as long as short
01 Exchange ETHUSD	+0.0032%	1h	2,746.5	+0.139%	$182K	$862K	50x	as long as short
ApeX Omni ETHUSDT	+0.0033%	1h	2,747.3	+0.167%	$8.9M	$30.7M	100x	as long as short
BingX ETH-USDT	+0.0053%	8h	2,744.5	+0.066%	—	$1.15B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0067%	8h	2,744.4	+0.062%	$1.70B	$10.55B	100x	as long as short
KuCoin ETHUSDTM	+0.0070%	8h	2,746	+0.121%	$382.0M	$575.6M	100x	as long as short
Bullet ETH-USD	+0.0073%	1h	2,745.1	+0.088%	$183K	$1.7M	20x	as long as short
RISEx ETH/USDC	+0.0077%	1h	2,746.7	+0.146%	$5.6M	$11.4M	25x	as long as short
Aster ETHUSDT	+0.0088%	8h	2,746.1	+0.124%	$254.1M	$841.1M	200x	as long as short
SoDEX ETH-USD	+0.0094%	1h	2,744.8	+0.077%	$54.7M	$187.6M	40x	as long as short
Lighter ETH	+0.0096%	1h	2,746.7	+0.145%	$113.0M	$435.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,747.5	+0.175%	$24.6M	$104.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,747	+0.157%	—	$30.5M	500x	as long as short
MEXC ETH_USDT	+0.0096%	8h	2,745.1	+0.088%	$1.56B	$2.55B	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,742.1	−0.023%	$4.9M	$154K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0096%	1h	2,747.2	+0.166%	$57.9M	$4.26B	50x	as long as short
Binance ETHUSDT	+0.0096%	8h	2,744.8	+0.076%	$6.38B	$15.67B	150x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,751	+0.302%	$16.0M	$7.9M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,746	+0.120%	$468K	$3.1M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,746.2	+0.128%	$13.9M	$104.9M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,747.9	+0.190%	$3.12B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,746.6	+0.142%	$31.7M	$334.5M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,744.5	+0.066%	$2.45B	$4.17B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,746.3	+0.131%	$2.7M	$16.9M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,746.6	+0.144%	$2.7M	$16.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,742.3	−0.015%	$165.2M	$299.1M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,744.9	+0.081%	$3.39B	$8.76B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,744.9	+0.079%	$2.08B	$2.72B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,746.1	+0.123%	$15.0M	$39.8M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,745.8	+0.113%	$133.3M	$326.5M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,746.2	+0.129%	$182.5M	$673.3M	100x	as long as short
GRVT ETH_USDT_Perpshort	+0.0100%	8h	2,744.9	+0.079%	$159.6M	$83.9M	50x
StandX ETH-USD	+0.0100%	1h	2,746.7	+0.146%	$21.2M	$67.8M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,746.6	+0.141%	—	$815K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,746.8	+0.149%	$11.0M	$8.8M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,746.3	+0.132%	$41.5M	$29.6M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,745.5	+0.103%	$963K	$11.5M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,746.5	+0.137%	$1.06B	$1.18B	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,746.4	+0.134%	$267.0M	$64.8M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,743.8	+0.041%	$30.6M	$71.9M	50x	as long as short
Aftermath Perps ETHUSD	+0.0128%	1h	2,745.5	+0.100%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0160%	8h	2,746.1	+0.124%	$7.8M	$670.0M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0173%	1h	2,746.6	+0.143%	$259.8M	$196.2M	50x	as long as short
Orderly PERP_ETH_USDC	+0.0193%	8h	2,746.6	+0.143%	$32.3M	$11.4M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0221%	1h	2,746.1	+0.125%	$86.6M	$310.3M	100x	as long as short
Reya ETHRUSDPERP	+0.0228%	1h	2,745.1	+0.087%	$7.3M	$1.1M	25x	as long as short
Hibachi ETH/USDT-P	+0.0256%	1h	2,746.1	+0.124%	$252K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0313%	8h	2,746	+0.120%	$285.1M	$181.2M	150x	as long as short
Bluefin ETH-PERP	+0.0558%	1h	2,745.5	+0.101%	$21K	$20K	25x	as long as short