Funding arb · Price arb /

FIL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.011%

Price spread now: GRVT against gTrade (Gains Network)−0.217%68s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on gTrade (Gains Network)Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Funding pays, the price is against you. GRVT is 0.217% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.217% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$22 on $10k: about 6.9 days of funding at the current rate (+$3 a day). The two prices were read 68 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	gTrade (Gains Network) FIL/USD	0.9859	L −0.0004% / S +0.0006%	get 0.0001% / 1h	24m 19s	$25K	—	150x
Short	GRVT FIL_USDT_Perp	0.9838	0.0100	get 0.0100% / 8h	2h 24m	$288K	$813K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee GRVTbpOrdersPrice spread, now −0.217%Rate

Funding earned: $21.88
Price spread: −0.217% → 0.000%: −$21.68
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$18.8
Costs to cover: 0.190%
Break-even: 13.0 days

Slippage unknown: gTrade (Gains Network): no order-book sample; GRVT: live order book, 63 min ago. Net counts fees only.

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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell GRVT live order book, 63 min ago	5.12 bp	21.8 bp −$22	209.9 bp −$2,099	doesn't fit	doesn't fit

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-PERPETUAL	−0.1168%	1h	0.9862	+0.031%	$170K	$23K	25x	as long as short
Kraken Futures PF_FILUSD	−0.0621%	1h	0.9862	+0.030%	$1.4M	$2.3M	50x	as long as short
Lighter FIL	−0.0376%	1h	0.9847	−0.118%	$157K	$337K	5x	as long as short
Coinbase International FIL-PERP-INTX	−0.0328%	1h	0.9860	+0.011%	$315K	$1.9M	50x	as long as short
Bybit FILUSDT	−0.0051%	8h	0.9854	−0.050%	$15.5M	$17.9M	25x	as long as short
Bitget FILUSDT	−0.0034%	8h	0.9852	−0.070%	$10.8M	$21.9M	75x	as long as short
gTrade (Gains Network) FIL/USDlong	L −0.0004% / S +0.0006%	1h	0.9859	long leg	$25K	—	150x
dYdX FIL-USD	0.0000%	1h	0.9859	+0.002%	$57K	$2K	10x	as long as short
Variational Omni FIL	+0.0009%	8h	0.9855	−0.043%	$437K	$277K	—	as long as short
OKX FIL-USDT-SWAP	+0.0016%	8h	0.9851	−0.080%	$18.1M	$96.6M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid FIL	+0.0029%	1h	0.9852	−0.070%	$8.6M	$9.5M	5x	as long as short
KuCoin FILUSDTM	+0.0033%	8h	0.9856	−0.030%	$7.4M	$7.1M	50x	as long as short
Injective FIL/USDC PERP	+0.0033%	1h	0.9751	−1.095%	$2K	$148K	12x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9859	0.000%	$488K	$514K	20x	as long as short
Binance FILUSDT	+0.0100%	8h	0.9853	−0.060%	$56.5M	$175.8M	75x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9854	−0.050%	$7.8M	$16.3M	50x	as long as short
MEXC FIL_USDC	+0.0100%	8h	0.9848	−0.111%	$250K	$105K	50x	as long as short
BingX FIL-USDT	+0.0100%	8h	0.9854	−0.050%	—	$11.9M	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9838	−0.214%	$45K	$292K	10x	as long as short
GRVT FIL_USDT_Perpshort	+0.0100%	8h	0.9838	−0.217%	$288K	$813K	10x
ApeX Omni FILUSDT	+0.0100%	1h	0.9840	−0.192%	$42K	$193K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9865	+0.063%	$5K	—	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9850	−0.090%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9854	−0.050%	$478	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9857	−0.019%	$624K	$5.7M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9850	−0.090%	$1.1M	$2.2M	50x	as long as short
Extended FIL-USD	+0.0104%	1h	0.9853	−0.062%	$685K	$2.3M	10x	as long as short
BloFin FIL-USDT	+0.0220%	8h	0.9849	−0.101%	$2.6M	$637K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0625% / S −0.0759%	1h	0.9859	+0.005%	$218K	—	100x	as long as short