Funding arb · Price arb /

FIL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0860%/8h= +94.2% APRpaid last 24h +0.199%

Price spread now: GRVT against Deribit−0.068%75s7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1581.579% of the position

Long on Deribit Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.466%+$47 on $10k

Price spread, last 4 days (all we have)+0.215%+$22 · spread now −0.068%, 7d avg −0.082%

Together, before fees+0.681%+ Points / potential airdropGRVT: Active · farm board+$68 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.082%, so right now this pair is about funding alone: +$26 a day on $10k at the current rate. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.466% in total (about 24.3% 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	Deribit FIL_USDC-PERPETUAL	0.9890	−0.0760	get 0.0095% / 1h	38m 12s	$170K	$23K	25x
Short	GRVT FIL_USDT_Perp	0.9883	0.0100	get 0.0100% / 8h	2h 38m	$289K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Deribit. 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 DeribitbpFee GRVTbpOrdersPrice spread, now −0.068%Rate

Funding earned: $180.6
Price spread: −0.068% → −0.082%: $1.38
Slippage, 4 orders: −$141.91
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $24.07
Costs to cover: 1.579%
Break-even: 6.1 days

Slippage from Deribit: live order book, 10 min ago; GRVT: live order book, 5 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 Deribit live order book, 10 min ago	11.06 bp	14.6 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 5 min ago	5.04 bp	42.2 bp −$42	122.7 bp −$1,227	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
Deribit FIL_USDC-PERPETUALlong	−0.0760%	1h	0.9890	long leg	$170K	$23K	25x
Coinbase International FIL-PERP-INTX	−0.0240%	1h	0.9889	−0.010%	$339K	$2.2M	50x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9884	−0.063%	$26K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9885	−0.055%	$58K	$1K	10x	as long as short
OKX FIL-USDT-SWAP	+0.0022%	8h	0.9890	0.000%	$18.0M	$107.6M	50x	as long as short
Injective FIL/USDC PERP	+0.0033%	1h	0.9855	−0.354%	$2K	$240K	12x	as long as short
KuCoin FILUSDTM	+0.0040%	8h	0.9885	−0.051%	$7.2M	$7.9M	50x	as long as short
Lighter FIL	+0.0096%	1h	0.9883	−0.067%	$147K	$379K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9891	+0.007%	$8.3M	$9.4M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9892	+0.021%	$505K	$613K	20x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance FILUSDT	+0.0100%	8h	0.9889	−0.010%	$56.0M	$185.6M	75x	as long as short
Bybit FILUSDT	+0.0100%	8h	0.9889	−0.010%	$15.6M	$20.5M	25x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9880	−0.101%	$8.3M	$16.7M	50x	as long as short
MEXC FIL_USDC	+0.0100%	8h	0.9886	−0.040%	$233K	$103K	50x	as long as short
Bitget FILUSDT	+0.0100%	8h	0.9886	−0.040%	$11.1M	$20.0M	75x	as long as short
BingX FIL-USDC	+0.0100%	8h	0.9882	−0.081%	—	$6.5M	—	as long as short
Variational Omni FIL	+0.0100%	8h	0.9882	−0.081%	$447K	$264K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9912	+0.224%	$45K	$295K	10x	as long as short
GRVT FIL_USDT_Perpshort	+0.0100%	8h	0.9883	−0.068%	$289K	$1.1M	10x
ApeX Omni FILUSDT	+0.0100%	1h	0.9900	+0.101%	$29K	$182K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9894	+0.044%	$4K	$798	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9880	−0.101%	$2K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9884	−0.061%	$484	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9891	+0.010%	$615K	$5.8M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9880	−0.101%	$1.2M	$2.6M	50x	as long as short
Extended FIL-USD	+0.0104%	1h	0.9882	−0.079%	$693K	$1.4M	10x	as long as short
BloFin FIL-USDT	+0.0220%	8h	0.9855	−0.354%	$2.6M	$699K	75x	as long as short
Kraken Futures PF_FILUSD	+0.0251%	1h	0.9892	+0.024%	$1.3M	$2.2M	50x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0595% / S −0.0272%	1h	0.9883	−0.067%	$264K	—	100x	as long as short