Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.015%

Price spread now: GRVT against Derive−0.028%73s7-day average — · you buy dearer than you sell

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

Long on Derive Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 4 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 between these two exchanges is close to zero, so right now this pair is about the price spread alone: GRVT is 0.028% cheaper against Derive than usual: you would sell low and buy high, −$3 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 73 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	Derive LINK-PERP	13.140	0.0100	pay 0.0013% / 1h	56m 28s	$16K	$22K	10x
Short	GRVT LINK_USDT_Perp	13.136	0.0100	get 0.0100% / 8h	1h 56m	$589K	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Derive. 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 DerivebpFee GRVTbpOrdersPrice spread, now −0.028%Rate

Funding earned: $0
Price spread: −0.028% → 0.000%: −$2.8
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$17.8
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; GRVT: live order book, 2 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 Derive no order-book sample	—	—	—	—	—
Sell GRVT live order book, 2 min ago	0.38 bp	7.0 bp −$7	19.2 bp −$192	doesn't fit	doesn't fit

Derive: 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.

LINK on 40 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
GMX LINK/USD [LINK-USDC]	L −0.0090% / S +0.0167%	1h	13.144	+0.032%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.158	+0.139%	$348K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.135	−0.038%	$470K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.144	+0.033%	$718K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.147	+0.053%	$133K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.128	−0.093%	$3K	$81K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.632%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.143	+0.022%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.166	+0.197%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.158	+0.138%	$32K	$3K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.160	+0.156%	$400K	$316K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.161	+0.159%	$77.5M	$23.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.156	+0.125%	$1.5M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.162	+0.169%	$276K	$151K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.146	+0.043%	$121.9M	$302.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.145	+0.038%	$84.7M	$69.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.146	+0.045%	$27.7M	$85.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.172	+0.243%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.149	+0.068%	$130.5M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.145	+0.038%	$36.8M	$55.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.153	+0.098%	$22.3M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.143	+0.022%	$54.5M	$30.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.144	+0.030%	—	$21.8M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.143	+0.023%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.127	−0.098%	$44K	$306K	20x	as long as short
GRVT LINK_USDT_Perpshort	+0.0100%	8h	13.136	−0.028%	$589K	$2.8M	10x
ApeX Omni LINKUSDT	+0.0100%	1h	13.148	+0.060%	$153K	$666K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.154	+0.106%	$81K	$68K	10x	as long as short
Derive LINK-PERPlong	+0.0100%	1h	13.140	long leg	$16K	$22K	10x
SunX LINK-USDT	+0.0100%	8h	13.140	−0.001%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.137	−0.023%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.127	−0.103%	$645K	$903K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.157	+0.132%	$667K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.149	+0.067%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.150	+0.076%	$990K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0178%	1h	13.160	+0.152%	$366K	$374K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.143	+0.022%	$5.2M	$16.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0375%	1h	13.146	+0.047%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0486%	8h	13.142	+0.015%	$20.3M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0695%	1h	13.148	+0.059%	$6.9M	$8.0M	50x	as long as short