Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.020%

Price spread now: GRVT against edgeX+0.253%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$800.795% of the position

Long on edgeX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 3 days (all we have)−0.234%−$23 · spread now +0.253%, 7d avg +0.022%

Together, before fees−0.254%+ Points / potential airdropedgeX: Active · GRVT: Active · farm board−$25 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: GRVT is 0.232% dearer against edgeX than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of +0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX OPUSDC	0.1247	0.0100	pay 0.0050% / 4h	2h 50m	$9K	$380K	10x
Short	GRVT OP_USDT_Perp	0.1250	0.0100	get 0.0100% / 8h	2h 50m	$304K	$5.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against edgeX. 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 edgeXbpFee GRVTbpOrdersPrice spread, now +0.253%Rate

Funding earned: $0
Price spread: +0.253% → +0.022%: $23.16
Slippage, 4 orders: −$61.53
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$56.38
Costs to cover: 0.795%
Break-even: never at this rate

Slippage from edgeX: live order book, 38 min ago; GRVT: live order book, 4 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 edgeX live order book, 38 min ago	7.99 bp	19.3 bp −$19	83.0 bp −$830	doesn't fit	doesn't fit
Sell GRVT live order book, 4 min ago	4.01 bp	33.7 bp −$34	188.5 bp −$1,885	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	−0.1658%	1h	0.1240	−0.562%	$34K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1066% / S +0.0229%	1h	0.1245	−0.121%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0328%	1h	0.1243	−0.322%	$21K	$64K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1245	−0.162%	$38K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1245	−0.162%	$41K	$164K	25x	as long as short
Variational Omni OP	+0.0002%	8h	0.1243	−0.349%	$227K	$44K	—	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1246	−0.084%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0027%	8h	0.1245	−0.162%	$6K	$51K	10x	as long as short
OKX OP-USDT-SWAP	+0.0095%	8h	0.1245	−0.154%	$5.7M	$29.3M	50x	as long as short
Lighter OP	+0.0096%	1h	0.1245	−0.145%	$266K	$899K	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	0.1247	−0.033%	$3.9M	$2.9M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1245	−0.197%	$209K	$243K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1245	−0.162%	$20.1M	$62.7M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1245	−0.202%	$18.3M	$25.3M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1245	−0.145%	$1.8M	$1.4M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1245	−0.170%	$20.0M	$7.2M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1244	−0.242%	$2.9M	$7.5M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1245	−0.162%	$5.9M	$6.2M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1245	−0.186%	—	$6.9M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1244	−0.250%	$127K	$189K	10x	as long as short
edgeX OPUSDClong	+0.0100%	4h	0.1247	long leg	$9K	$380K	10x
GRVT OP_USDT_Perpshort	+0.0100%	8h	0.1250	+0.253%	$304K	$5.3M	10x
ApeX Omni OPUSDT	+0.0100%	1h	0.1248	+0.079%	$45K	$720K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1244	−0.282%	$160	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1245	−0.178%	$172K	$234K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1245	−0.194%	$100K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1246	−0.085%	$4K	—	3x	as long as short
Kraken Futures PF_OPUSD	+0.0138%	1h	0.1245	−0.158%	$769K	$742K	20x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1244	−0.242%	$988K	$294K	75x	as long as short
Reya OPRUSDPERP	+0.0436%	1h	0.1245	−0.154%	$692	—	20x	as long as short