OP

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0199%/8h= +21.8% APRnext payment +$1.99 per $10,000 · paid last 24h −0.012%

Price spread now: GRVT against Bybit+0.222%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$870.867% of the position

Long on Bybit Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.030%+$3 on $10k

Price spread, last 7 days−0.163%−$16 · spread now +0.222%, 7d avg +0.043%

Together, before fees−0.133%+ Points / potential airdropGRVT: Active · farm board−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and GRVT is 0.179% dearer against Bybit than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.043%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.030% in total (about 1.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.99 per $10,000. 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	Bybit OPUSDT	0.1263	−0.0099	get 0.0099% / 8h	7h 41m	$18.3M	$26.0M	75x
Short	GRVT OP_USDT_Perp	0.1266	0.0100	get 0.0100% / 8h	7h 41m	$311K	$4.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Bybit. 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 BybitbpFee GRVTbpOrdersPrice spread, now +0.222%Rate

Funding earned: $41.88
Price spread: +0.222% → +0.043%: $17.87
Slippage, 4 orders: −$66.74
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$26.99
Costs to cover: 0.867%
Break-even: 11.5 days

Slippage from Bybit: live order book, 2 min ago; GRVT: live order book, 3 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 Bybit live order book, 2 min ago	0.40 bp	11.3 bp −$11	30.2 bp −$302	83.3 bp −$8,326	doesn't fit
Sell GRVT live order book, 3 min ago	3.95 bp	18.8 bp −$19	57.3 bp −$573	doesn't fit	doesn't fit

OP on 30 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
Injective OP/USDC PERP	−0.1656%	1h	0.1259	−0.317%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1264	+0.101%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0352%	1h	0.1262	−0.079%	$21K	$64K	50x	as long as short
Bybit OPUSDTlong	−0.0099%	8h	0.1263	long leg	$18.3M	$26.0M	75x
dYdX OP-USD	0.0000%	1h	0.1265	+0.140%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1264	+0.079%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1264	+0.087%	—	—	150x	as long as short
Variational Omni OP	+0.0049%	8h	0.1263	−0.039%	$230K	$47K	—	as long as short
Orderly PERP_OP_USDC	+0.0057%	8h	0.1264	+0.079%	$6K	$49K	10x	as long as short
Lighter OP	+0.0096%	1h	0.1265	+0.166%	$283K	$948K	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid OP	+0.0100%	1h	0.1265	+0.127%	$4.0M	$2.9M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1264	+0.106%	$211K	$236K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1264	+0.070%	$20.4M	$62.0M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1263	−0.008%	$6.1M	$29.9M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1264	+0.111%	$1.9M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1264	+0.087%	$20.1M	$7.3M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1264	+0.079%	$2.9M	$7.2M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1264	+0.079%	$6.0M	$6.4M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1264	+0.055%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1266	+0.214%	$121K	$189K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1266	+0.255%	$4K	$390K	10x	as long as short
GRVT OP_USDT_Perpshort	+0.0100%	8h	0.1266	+0.222%	$311K	$4.9M	10x
ApeX Omni OPUSDT	+0.0100%	1h	0.1267	+0.317%	$43K	$723K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1264	+0.055%	$181	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1264	+0.111%	$175K	$235K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1263	+0.017%	$103K	$320K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1265	+0.119%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1265	+0.119%	$1.0M	$270K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0384%	1h	0.1265	+0.168%	$798K	$754K	20x	as long as short
Reya OPRUSDPERP	+0.0438%	1h	0.1263	+0.008%	$702	—	20x	as long as short