Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0630%/8h= +69.0% APRpaid last 24h +0.074%

Price spread now: Deribit against GRVT−0.110%75s7-day average +0.132% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as 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−$580.585% of the position

Long on GRVT Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.348%+$35 on $10k

Price spread, last 4 days (all we have)+0.167%+$17 · spread now −0.110%, 7d avg +0.132%

Together, before fees+0.515%+ Points / potential airdropGRVT: Active · farm board+$52 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.242% cheaper against GRVT than usual: you would sell low and buy high (spread −0.110% now, against its 7-day average of +0.132%). If the spread goes back, that is −$24 on $10k: about 31 hours of funding at the current rate (+$19 a day). At the pace of the last 7 days (+0.348% in total) that is about 4.9 days. 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 0.348% in total (about 18.1% 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	GRVT NEAR_USDT_Perp	4.2967	0.0100	pay 0.0100% / 8h	3h 02m	$1.4M	$1.5M	10x
Short	Deribit NEAR_USDC-PERPETUAL	4.2920	0.0730	get 0.0091% / 1h	2m 15s	$1.9M	$10.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against GRVT. 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 GRVTbpFee DeribitbpOrdersPrice spread, now −0.110%Rate

Funding earned: $132.3
Price spread: −0.110% → +0.132%: −$24.21
Slippage, 4 orders: −$42.49
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $49.6
Costs to cover: 0.585%
Break-even: 4.4 days

Slippage from GRVT: live order book, 1 min ago; Deribit: live order book, 2 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 GRVT live order book, 1 min ago	11.63 bp	16.1 bp −$16	39.6 bp −$396	doesn't fit	doesn't fit
Sell Deribit live order book, 2 min ago	2.79 bp	7.4 bp −$7	14.2 bp −$142	doesn't fit	doesn't fit

NEAR on 45 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
Reya NEARRUSDPERP	−0.0171%	1h	4.2867	−0.234%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2913	−0.127%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2881	−0.202%	$161K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.625%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.2904	−0.148%	$2.3M	$15.7M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2880	−0.203%	$110K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2896	−0.166%	$261.6M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2869	−0.229%	$212.3M	$426.3M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2900	−0.157%	$60.6M	$285.4M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2973	+0.013%	$245K	−$0	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NEAR_USDT	+0.0100%	8h	4.2859	−0.252%	$31.8M	$62.7M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2900	−0.157%	$72.5M	$147.8M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2910	−0.134%	$53.3M	$45.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2896	−0.166%	$70.9M	$127.4M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2890	−0.180%	—	$144.4M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2987	+0.047%	$8.1M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2977	+0.022%	$251K	$949K	20x	as long as short
GRVT NEAR_USDT_Perplong	+0.0100%	8h	4.2967	long leg	$1.4M	$1.5M	10x
ApeX Omni NEARUSDT	+0.0100%	1h	4.3190	+0.518%	$166K	$794K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2891	−0.178%	$267K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2914	−0.124%	$57K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2960	−0.017%	$1K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.2970	+0.006%	$457K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2910	−0.134%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2919	−0.112%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2925	−0.099%	$200K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2980	+0.029%	$13.4M	$31.7M	75x	as long as short
Kalshi KXNEARPERP	+0.0247%	8h	4.2930	−0.087%	$771K	$23.9M	2.2x	as long as short
Pacifica NEAR	+0.0263%	1h	4.2944	−0.054%	$396K	$1.3M	10x	as long as short
SoDEX NEAR-USD	+0.0310%	1h	4.2875	−0.215%	$6K	$53K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0322% / S −0.0198%	1h	4.2883	−0.197%	$232K	—	100x	as long as short
Aster NEARUSDT	+0.0331%	8h	4.2900	−0.157%	$2.8M	$5.5M	50x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.2990	+0.053%	$13K	$7K	10x	as long as short
Extended NEAR-USD	+0.0536%	1h	4.2884	−0.194%	$3.7M	$19.8M	25x	as long as short
Hyperliquid NEAR	+0.0558%	1h	4.2893	−0.173%	$350.9M	$313.3M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0564%	1h	4.2977	+0.022%	$1.3M	$6.8M	20x	as long as short
Nado NEAR-PERP	+0.0566%	1h	4.2890	−0.180%	$1.8M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.2990	+0.053%	$211K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0719%	1h	4.2871	−0.224%	$7.5M	$38.9M	50x	as long as short
Deribit NEAR_USDC-PERPETUALshort	+0.0730%	1h	4.2920	−0.110%	$1.9M	$10.0M	25x
Lighter RH NEAR	+0.0912%	1h	4.2938	−0.068%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3300	+0.774%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1032%	1h	4.2939	−0.067%	$17.3M	$25.1M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.2937	−0.070%	$671K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1514%	1h	4.3057	+0.209%	$5K	$12K	10x	as long as short