Funding you earn now, next payment 04:00 UTC+0.0435%/8h= +47.6% APRpaid last 24h −0.064%
Price spread now: Deribit against GRVT+0.311%45s7-day average +0.065% · you sell dearer than you buy
Net, funding: paid 7d − costs−$97as 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−$680.684% of the position
Funding, last 7 days−0.284%−$28 on $10k
+Price spread, last 4 days (all we have)−0.204%−$20 · spread now +0.311%, 7d avg +0.065%
=Together, before fees−0.488%+ Points / potential airdropGRVT: Active · farm board−$49 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Deribit is 0.246% dearer against GRVT than usual: you sell high and buy low: +$25 more if the spread goes back to its 7-day average of +0.065%. Mind the row above: over the last 7 days funding on this pair cost −0.284%, so the current rate has only just turned in your favour. The two prices were read 45 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 -0.284% in total (about -15.2% 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 OP_USDT_Perp | 0.1271 | 0.0100 | pay 0.0100% / 8h | 4h 29m | $318K | $5.1M | 10x |
| Short | Deribit OP_USDC-PERPETUAL | 0.1275 | 0.0535 | get 0.0067% / 1h | 29m 23s | $42K | $141K | 25x |
GRVT OP_USDT_Perp
Deribit OP_USDC-PERPETUALFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $91.35
- Price spread: +0.311% → +0.065%
- $24.58
- Slippage, 4 orders
- −$52.43
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $47.5
- Costs to cover
- 0.684%
- Break-even
- 3.4 days
Slippage from GRVT: live order book, 5 min ago; Deribit: live order book, 29 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, 5 min ago | 3.97 bp | 18.5 bp −$18 | 149.9 bp −$1,499 | 11526.0 bp −$1.15M | doesn't fit |
| Sell Deribit live order book, 29 min ago | 7.93 bp | 11.4 bp −$11 | doesn't fit | 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 | −0.1607% | 1h | 0.1252 | −1.499% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1274 | +0.246% | $13K | — | 100x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1276 | +0.389% | $39K | $519 | 10x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1275 | +0.286% | — | — | 150x | as long as short |
| OKX OP-USDT-SWAP | +0.0046% | 8h | 0.1274 | +0.248% | $6.2M | $28.9M | 50x | as long as short |
| Variational Omni OP | +0.0053% | 8h | 0.1271 | −0.041% | $225K | $48K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0054% | 8h | 0.1274 | +0.232% | $6K | $44K | 10x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1276 | +0.382% | $280K | $941K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1276 | +0.374% | $3.7M | $2.8M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1276 | +0.353% | $213K | $219K | 10x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
dYdX OP-USD
gTrade (Gains Network) OP/USD
OKX OP-USDT-SWAP
Variational Omni OP
Orderly PERP_OP_USDC
Lighter OP
Hyperliquid OP
Aster OPUSDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance OPUSDT | +0.0100% | 8h | 0.1274 | +0.268% | $20.6M | $60.3M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1274 | +0.208% | $18.7M | $24.9M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1275 | +0.311% | $2.0M | $1.4M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1275 | +0.271% | $21.5M | $7.2M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1274 | +0.232% | $2.9M | $6.6M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1274 | +0.232% | $5.9M | $6.4M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1274 | +0.232% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1275 | +0.326% | $126K | $200K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1270 | −0.054% | $4K | $389K | 10x | as long as short |
| GRVT OP_USDT_Perplong | +0.0100% | 8h | 0.1271 | long leg | $318K | $5.1M | 10x | |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1261 | −0.791% | $43K | $710K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1274 | +0.248% | $205 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1276 | +0.358% | $175K | $228K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1273 | +0.165% | $104K | $394K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1274 | +0.215% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0168% | 1h | 0.1262 | −0.712% | $24K | $64K | 50x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1271 | −0.035% | $1.0M | $280K | 75x | as long as short |
| Kraken Futures PF_OPUSD | +0.0346% | 1h | 0.1275 | +0.280% | $794K | $546K | 20x | as long as short |
| Reya OPRUSDPERP | +0.0441% | 1h | 0.1274 | +0.262% | $709 | — | 20x | as long as short |
| Deribit OP_USDC-PERPETUALshort | +0.0535% | 1h | 0.1275 | +0.311% | $42K | $141K | 25x |
Binance OPUSDT
Bybit OPUSDT
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDC
Backpack OP_USDC_PERP
edgeX OPUSDC
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
Coinbase International OP-PERP-INTX
BloFin OP-USDT
Kraken Futures PF_OPUSD
Reya OPRUSDPERP