Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0171%/8h= +18.7% APRpaid last 24h −0.017%

Price spread now: GRVT against RISEx−0.159%55s7-day average +0.017% · 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−$180.182% of the position

Long on RISEx Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.023%−$2 on $10k

Price spread, last 7 days+0.115%+$12 · spread now −0.159%, 7d avg +0.017%

Together, before fees+0.092%+ Points / potential airdropGRVT: Active · farm board+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. GRVT is 0.175% cheaper against RISEx than usual: you would sell low and buy high (spread −0.159% now, against its 7-day average of +0.017%). If the spread goes back, that is −$18 on $10k: about 3.4 days of funding at the current rate (+$5 a day). 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	RISEx ETH/USDC	2,750.2	−0.0071	get 0.0009% / 1h	29m 44s	$5.5M	$11.2M	25x
Short	GRVT ETH_USDT_Perp	2,745.8	0.0100	get 0.0100% / 8h	6h 29m	$159.7M	$84.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against RISEx. 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 RISExbpFee GRVTbpOrdersPrice spread, now −0.159%Rate

Funding earned: $35.94
Price spread: −0.159% → +0.017%: −$17.54
Slippage, 4 orders: −$3.24
Fee RISEx: 3 bp × 2 orders: −$6
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $0.16
Costs to cover: 0.182%
Break-even: 7.0 days

Slippage from RISEx: live order book, 4 min ago; GRVT: 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 RISEx live order book, 4 min ago	0.98 bp	4.0 bp −$4	5.0 bp −$50	293.3 bp −$29.3K	doesn't fit
Sell GRVT live order book, 4 min ago	0.02 bp	4.7 bp −$5	6.1 bp −$61	8.0 bp −$798	17.4 bp −$8,723

ETH on 54 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	2,749.7	−0.019%	$310K	$6.0M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,749.3	−0.031%	$5K	$1K	50x	as long as short
RISEx ETH/USDClong	−0.0071%	1h	2,750.2	long leg	$5.5M	$11.2M	25x
ApeX Omni ETHUSDT	−0.0042%	1h	2,744.9	−0.190%	$8.7M	$31.8M	100x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,750	−0.007%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,746.4	−0.137%	$847K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,748	−0.078%	$10.8M	$41.8M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,750.2	0.000%	$22.2M	—	200x	as long as short
01 Exchange ETHUSD	+0.0016%	1h	2,750.4	+0.009%	$181K	$1.1M	50x	as long as short
BingX ETH-USDC	+0.0032%	8h	2,750.5	+0.014%	—	$17.3M	—	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0044%	8h	2,751.5	+0.048%	$1.69B	$11.03B	100x	as long as short
HTX ETH-USDT	+0.0046%	8h	2,749.9	−0.010%	$1.07B	$1.21B	200x	as long as short
Aster ETHUSDT	+0.0063%	8h	2,751.2	+0.038%	$253.1M	$859.0M	200x	as long as short
MEXC ETH_USDT	+0.0072%	8h	2,751.8	+0.058%	$1.57B	$2.56B	500x	as long as short
Aevo ETH-PERP	+0.0072%	1h	2,748.3	−0.066%	$4.9M	$168K	20x	as long as short
KuCoin ETHUSDTM	+0.0073%	8h	2,751	+0.030%	$381.5M	$605.9M	100x	as long as short
Binance ETHUSDT	+0.0074%	8h	2,751.6	+0.052%	$6.36B	$16.23B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,751.9	+0.064%	$59.1M	$4.38B	50x	as long as short
Bitget ETHUSDT	+0.0091%	8h	2,751.4	+0.045%	$2.08B	$2.85B	150x	as long as short
Gate ETH_USDT	+0.0095%	8h	2,751.6	+0.052%	$3.40B	$8.86B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,751.4	+0.046%	$113.0M	$442.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,753	+0.103%	$24.9M	$107.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,748.7	−0.052%	—	$35.4M	500x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,753.3	+0.115%	$15.9M	$8.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,749.2	−0.035%	$468K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,748.5	−0.061%	$14.0M	$113.1M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,753.6	+0.125%	$3.13B	$2.12B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,749.7	−0.017%	$31.5M	$333.7M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,751.4	+0.044%	$2.46B	$4.33B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,748	−0.079%	$2.8M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,750.5	+0.012%	$2.8M	$16.5M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,750.6	+0.017%	$15.1M	$41.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,747.4	−0.099%	$133.1M	$346.1M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,744.4	−0.211%	$181.5M	$729.2M	100x	as long as short
GRVT ETH_USDT_Perpshort	+0.0100%	8h	2,745.8	−0.159%	$159.7M	$84.5M	50x
StandX ETH-USD	+0.0100%	1h	2,749	−0.042%	$21.3M	$67.8M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,749.6	−0.020%	$10.3M	$8.0M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,749.7	−0.017%	$183K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,750.6	+0.017%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,751.9	+0.062%	$41.8M	$29.3M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,749	−0.043%	$963K	$12.4M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,750.5	+0.012%	$54.8M	$187.6M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,750.4	+0.009%	$267.3M	$66.6M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,743.9	−0.227%	$165.5M	$306.7M	25x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,750.4	+0.010%	—	$869K	50x	as long as short
Aftermath Perps ETHUSD	+0.0102%	1h	2,747.3	−0.104%	$30K	$20K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,750.7	+0.021%	$30.5M	$74.2M	50x	as long as short
Kalshi KXETHPERP	+0.0138%	8h	2,749.9	−0.010%	$7.9M	$674.2M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0168%	8h	2,752.9	+0.101%	$32.4M	$11.1M	100x	as long as short
Hibachi ETH/USDT-P	+0.0192%	1h	2,750.7	+0.019%	$250K	$1.5M	20x	as long as short
Deribit ETH-PERPETUAL	+0.0201%	1h	2,752	+0.068%	$258.5M	$200.4M	50x	as long as short
Injective ETH/USDC PERP	+0.0209%	1h	2,748.3	−0.068%	$118K	$22.5M	52x	as long as short
Reya ETHRUSDPERP	+0.0219%	1h	2,749.4	−0.027%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0354%	1h	2,751.7	+0.055%	$90.0M	$316.5M	100x	as long as short