Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.009%

Price spread now: gTrade (Gains Network) against GRVT−0.028%68s7-day average — · you buy dearer than you sell

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

Long on GRVT Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.028% cheaper against GRVT than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 68 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	GRVT OP_USDT_Perp	0.1266	0.0100	pay 0.0100% / 8h	7h 39m	$311K	$4.9M	10x
Short	gTrade (Gains Network) OP/USD	0.1265	L +0.0004% / S −0.0004%	get 0.0000% / 1h	39m 42s	—	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.028%Rate

Funding earned: −$20.17
Price spread: −0.028% → 0.000%: −$2.81
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$41.98
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 4 min ago; gTrade (Gains Network): no order-book sample. 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 GRVT live order book, 4 min ago	3.95 bp	43.0 bp −$43	109.6 bp −$1,096	5739.7 bp −$574.0K	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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.

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	−0.538%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1265	−0.044%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0352%	1h	0.1262	−0.301%	$21K	$64K	50x	as long as short
Bybit OPUSDT	−0.0095%	8h	0.1263	−0.198%	$18.3M	$26.0M	75x	as long as short
dYdX OP-USD	0.0000%	1h	0.1265	−0.064%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1265	−0.064%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USDshort	L +0.0004% / S −0.0004%	1h	0.1265	−0.028%	—	—	150x
Variational Omni OP	+0.0049%	8h	0.1263	−0.261%	$230K	$47K	—	as long as short
Orderly PERP_OP_USDC	+0.0056%	8h	0.1265	−0.064%	$6K	$49K	10x	as long as short
Lighter OP	+0.0096%	1h	0.1265	−0.079%	$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	−0.040%	$4.0M	$2.9M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1265	−0.054%	$211K	$236K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1264	−0.125%	$20.4M	$62.0M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1263	−0.237%	$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	−0.119%	$20.1M	$7.3M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1265	−0.064%	$2.9M	$7.2M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1265	−0.064%	$6.0M	$6.4M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1264	−0.143%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1264	−0.111%	$121K	$189K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1266	+0.033%	$4K	$390K	10x	as long as short
GRVT OP_USDT_Perplong	+0.0100%	8h	0.1266	long leg	$311K	$4.9M	10x
ApeX Omni OPUSDT	+0.0100%	1h	0.1267	+0.094%	$43K	$723K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1265	−0.072%	$185	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1265	−0.040%	$175K	$234K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1263	−0.248%	$101K	$340K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1265	−0.103%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1265	−0.103%	$1.0M	$270K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0383%	1h	0.1266	0.000%	$798K	$754K	20x	as long as short
Reya OPRUSDPERP	+0.0438%	1h	0.1264	−0.121%	$703	—	20x	as long as short