Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0148%/8h= +16.2% APRpaid last 24h −0.010%

Price spread now: GRVT against 01 Exchange−0.095%7-day average +0.025% · 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−$37as in the Price arb table

costs, in and out, $10k−$250.252% of the position

Long on 01 Exchange Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.036%+$4 on $10k

Price spread, last 4 days (all we have)+0.327%+$33 · spread now −0.095%, 7d avg +0.025%

Together, before fees+0.363%+ Points / potential airdropGRVT: Active · farm board+$36 on $10k · with fees, hour by hour

Funding pays, the price is against you. GRVT is 0.120% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.095% now, against its 7-day average of +0.025%). If the spread goes back, that is −$12 on $10k: about 2.7 days of funding at the current rate (+$4 a day). At the pace of the last 3 days (+0.036% in total) that is about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange ETHUSD	2,778.3	−0.0048	get 0.0006% / 1h	16m 37s	$172K	$1.2M	50x
Short	GRVT ETH_USDT_Perp	2,775.7	0.0100	get 0.0100% / 8h	2h 16m	$161.4M	$97.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against 01 Exchange. 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 01 ExchangebpFee GRVTbpOrdersPrice spread, now −0.095%Rate

Funding earned: $31.08
Price spread: −0.095% → +0.025%: −$12.04
Slippage, 4 orders: −$9.17
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$6.14
Costs to cover: 0.252%
Break-even: 8.4 days

Slippage from 01 Exchange: live order book, 3 min ago; GRVT: live order book, 3 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 01 Exchange live order book, 3 min ago	0.18 bp	6.7 bp −$7	12.2 bp −$122	doesn't fit	doesn't fit
Sell GRVT live order book, 3 min ago	0.02 bp	4.5 bp −$5	4.8 bp −$48	7.7 bp −$771	17.2 bp −$8,593

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	2,777.7	−0.021%	$290K	$6.9M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0107%	1h	2,776.6	−0.061%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,778.7	+0.014%	$5K	$2K	50x	as long as short
01 Exchange ETHUSDlong	−0.0048%	1h	2,778.3	long leg	$172K	$1.2M	50x
Phoenix ETH	−0.0023%	1h	2,778.2	−0.004%	$859K	$3.7M	25x	as long as short
RISEx ETH/USDC	−0.0011%	1h	2,777.8	−0.017%	$5.8M	$11.7M	25x	as long as short
Aftermath Perps ETHUSD	−0.0002%	1h	2,776.1	−0.080%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,779.8	+0.054%	$12.7M	$45.5M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,779.7	+0.051%	$22.5M	—	200x	as long as short
Phemex ETHUSDT	+0.0013%	8h	2,779.2	+0.032%	$267.6M	$66.0M	150x	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	+0.0022%	8h	2,778.7	+0.014%	$1.71B	$11.92B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,779.6	+0.048%	$13.2M	—	200x	as long as short
ApeX Omni ETHUSDT	+0.0040%	1h	2,777.7	−0.022%	$8.8M	$32.6M	100x	as long as short
Aster ETHUSDT	+0.0040%	8h	2,778.9	+0.020%	$257.0M	$995.5M	200x	as long as short
Aevo ETH-PERP	+0.0048%	1h	2,777.7	−0.020%	$5.0M	$636K	20x	as long as short
MEXC ETH_USDT	+0.0050%	8h	2,779.2	+0.031%	$1.60B	$2.68B	500x	as long as short
Binance ETHUSDT	+0.0050%	8h	2,779.2	+0.033%	$6.45B	$17.22B	150x	as long as short
Gate ETH_USDT	+0.0074%	8h	2,778.9	+0.020%	$3.28B	$9.68B	200x	as long as short
Bitget ETHUSDT	+0.0075%	8h	2,777.6	−0.026%	$2.10B	$3.13B	150x	as long as short
Bullet ETH-USD	+0.0084%	1h	2,779	+0.025%	$184K	$1.8M	20x	as long as short
Variational Omni ETH	+0.0096%	8h	2,776.8	−0.055%	$141.1M	$320.7M	—	as long as short
Lighter ETH	+0.0096%	1h	2,779.6	+0.048%	$115.3M	$514.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,781	+0.096%	$25.4M	$122.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,779.7	+0.051%	—	$41.7M	500x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,779.1	+0.030%	$16.0M	$10.8M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,778.1	−0.007%	$488K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,776.8	−0.055%	$15.3M	$117.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,781.8	+0.126%	$3.21B	$2.39B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,779.6	+0.047%	$31.4M	$289.2M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,778.9	+0.021%	$2.52B	$4.64B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,777	−0.047%	$2.9M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,779.6	+0.045%	$2.8M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,778.1	−0.007%	$165.4M	$253.6M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,779.2	+0.031%	$423.3M	$741.8M	100x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,778.8	+0.017%	—	$17.3M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,779.6	+0.048%	$15.4M	$42.8M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,775.9	−0.085%	$179.9M	$794.9M	100x	as long as short
GRVT ETH_USDT_Perpshort	+0.0100%	8h	2,775.7	−0.095%	$161.4M	$97.4M	50x
StandX ETH-USD	+0.0100%	1h	2,776.8	−0.054%	$21.4M	$57.8M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,778.5	+0.007%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,779.6	+0.047%	$10.8M	$7.8M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,779.5	+0.042%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,781.4	+0.113%	$42.8M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,778.3	+0.001%	$974K	$14.2M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,779.1	+0.029%	$55.3M	$228.6M	40x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,778.6	+0.012%	$1.08B	$1.32B	200x	as long as short
Extended ETH-USD	+0.0104%	1h	2,777	−0.047%	$31.4M	$75.7M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,780.6	+0.084%	$60.1M	$4.64B	50x	as long as short
Deribit ETH-PERPETUAL	+0.0106%	1h	2,780.8	+0.091%	$258.5M	$225.1M	50x	as long as short
Kalshi KXETHPERP	+0.0121%	8h	2,778.6	+0.011%	$8.6M	$674.1M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0134%	8h	2,782	+0.134%	$32.6M	$12.0M	100x	as long as short
BloFin ETH-USDT	+0.0170%	8h	2,778.9	+0.022%	$284.7M	$196.1M	150x	as long as short
Reya ETHRUSDPERP	+0.0183%	1h	2,778.1	−0.007%	$7.4M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0240%	1h	2,780.5	+0.079%	$86.9M	$330.9M	100x	as long as short
Hibachi ETH/USDT-P	+0.0448%	1h	2,778.4	+0.003%	$283K	$1.5M	20x	as long as short