Funding arb · Price arb /

FIL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0476%/8h= +52.1% APRpaid last 24h +0.109%

Price spread now: GRVT against Coinbase International−0.077%7-day average −0.108% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$730.726% of the position

Long on Coinbase International Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.304%+$30 on $10k

Price spread, last 3 days (all we have)+0.153%+$15 · spread now −0.077%, 7d avg −0.108%

Together, before fees+0.457%+ Points / potential airdropGRVT: Active · farm board+$46 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and GRVT is 0.030% dearer against Coinbase International than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.108%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.304% in total (about 15.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International FIL-PERP-INTX	0.9929	−0.0376	get 0.0047% / 1h	10m 59s	$319K	$1.9M	50x
Short	GRVT FIL_USDT_Perp	0.9921	0.0100	get 0.0100% / 8h	1h 10m	$288K	$790K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Coinbase International. 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 Coinbase InternationalbpFee GRVTbpOrdersPrice spread, now −0.077%Rate

Funding earned: $99.96
Price spread: −0.077% → −0.108%: $3.05
Slippage, 4 orders: −$53.63
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $30.37
Costs to cover: 0.726%
Break-even: 4.9 days

Slippage from Coinbase International: live order book, 3 min ago; GRVT: live order book, 7 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 Coinbase International live order book, 3 min ago	6.55 bp	13.8 bp −$14	17.9 bp −$179	doesn't fit	doesn't fit
Sell GRVT live order book, 7 min ago	5.05 bp	36.0 bp −$36	322.3 bp −$3,223	doesn't fit	doesn't fit

FIL on 29 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
Kraken Futures PF_FILUSD	−0.0691%	1h	0.9931	+0.017%	$1.3M	$2.3M	50x	as long as short
Deribit FIL_USDC-PERPETUAL	−0.0655%	1h	0.9935	+0.060%	$171K	$23K	25x	as long as short
Coinbase International FIL-PERP-INTXlong	−0.0376%	1h	0.9929	long leg	$319K	$1.9M	50x
Injective FIL/USDC PERP	−0.0252%	1h	0.9855	−0.745%	$2K	$240K	12x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9932	+0.031%	$25K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9933	+0.036%	$58K	$2K	10x	as long as short
Bitget FILUSDT	+0.0007%	8h	0.9922	−0.071%	$10.8M	$21.6M	75x	as long as short
KuCoin FILUSDTM	+0.0013%	8h	0.9926	−0.030%	$7.4M	$7.0M	50x	as long as short
Bybit FILUSDT	+0.0033%	8h	0.9926	−0.030%	$15.4M	$18.1M	25x	as long as short
OKX FIL-USDT-SWAP	+0.0039%	8h	0.9924	−0.050%	$18.2M	$98.4M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC FIL_USDC	+0.0076%	8h	0.9923	−0.060%	$252K	$105K	50x	as long as short
Binance FILUSDT	+0.0078%	8h	0.9923	−0.060%	$57.4M	$176.3M	75x	as long as short
Extended FIL-USD	+0.0080%	1h	0.9921	−0.080%	$692K	$2.3M	10x	as long as short
BingX FIL-USDT	+0.0080%	8h	0.9927	−0.020%	—	$11.9M	—	as long as short
Lighter FIL	+0.0096%	1h	0.9923	−0.063%	$159K	$349K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9927	−0.019%	$8.7M	$9.5M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9930	+0.010%	$499K	$525K	20x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9924	−0.050%	$7.9M	$16.3M	50x	as long as short
Variational Omni FIL	+0.0100%	8h	0.9909	−0.199%	$441K	$277K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9918	−0.111%	$45K	$292K	10x	as long as short
GRVT FIL_USDT_Perpshort	+0.0100%	8h	0.9921	−0.077%	$288K	$790K	10x
ApeX Omni FILUSDT	+0.0100%	1h	0.9920	−0.091%	$30K	$197K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9937	+0.076%	$5K	—	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9920	−0.091%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9926	−0.030%	$492	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9932	+0.030%	$628K	$5.6M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9930	+0.010%	$1.1M	$2.3M	50x	as long as short
BloFin FIL-USDT	+0.0198%	8h	0.9923	−0.060%	$2.7M	$659K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0601% / S −0.0709%	1h	0.9932	+0.028%	$208K	—	100x	as long as short