Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0340%/8h= −37.2% APRpaid last 24h −0.099%

Price spread now: GRVT against Reya+0.336%7-day average — · you sell dearer than you buy

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

Long on Reya Short on GRVT

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 airdropReya: Active · GRVT: Active · farm boardneeds both histories

The price spread pays, funding is against you. GRVT is 0.336% dearer against Reya than usual: you sell high and buy low (spread +0.336% now, against zero (this spread has no 7-day history yet)): +$34 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 3.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya OPRUSDPERP	0.1263	0.0440	pay 0.0055% / 1h	41m 03s	$702	—	20x
Short	GRVT OP_USDT_Perp	0.1267	0.0100	get 0.0100% / 8h	5h 41m	$312K	$5.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Reya. 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 ReyabpFee GRVTbpOrdersPrice spread, now +0.336%Rate

Funding earned: −$71.38
Price spread: +0.336% → 0.000%: $33.56
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$52.82
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; GRVT: live order book, 3 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell GRVT live order book, 3 min ago	3.96 bp	19.2 bp −$19	152.1 bp −$1,521	doesn't fit	doesn't fit

Reya: 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	−0.1488%	1h	0.1257	−0.469%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1264	+0.082%	$13K	—	100x	as long as short
dYdX OP-USD	0.0000%	1h	0.1263	+0.006%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1263	+0.006%	$42K	$151K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1264	+0.059%	—	—	150x	as long as short
OKX OP-USDT-SWAP	+0.0033%	8h	0.1263	+0.022%	$6.1M	$29.1M	50x	as long as short
Variational Omni OP	+0.0047%	8h	0.1263	−0.017%	$223K	$50K	—	as long as short
Orderly PERP_OP_USDC	+0.0054%	8h	0.1263	+0.006%	$6K	$45K	10x	as long as short
Lighter OP	+0.0096%	1h	0.1264	+0.062%	$280K	$934K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1264	+0.078%	$3.7M	$3.0M	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster OPUSDT	+0.0100%	8h	0.1264	+0.049%	$211K	$229K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1263	+0.038%	$20.4M	$60.6M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1263	−0.025%	$18.4M	$25.3M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1263	+0.006%	$1.9M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1263	+0.006%	$20.6M	$6.9M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1262	−0.073%	$2.9M	$6.7M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1263	+0.006%	$5.9M	$6.5M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1263	−0.033%	—	$6.7M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1262	−0.065%	$121K	$195K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1265	+0.137%	$4K	$388K	10x	as long as short
GRVT OP_USDT_Perpshort	+0.0100%	8h	0.1267	+0.336%	$312K	$5.1M	10x
ApeX Omni OPUSDT	+0.0100%	1h	0.1264	+0.086%	$43K	$707K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1263	−0.033%	$180	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1264	+0.054%	$174K	$218K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1262	−0.076%	$101K	$389K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1263	−0.005%	$3K	$1K	3x	as long as short
Coinbase International OP-PERP-INTX	+0.0152%	1h	0.1265	+0.165%	$24K	$71K	50x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1263	−0.033%	$1.0M	$271K	75x	as long as short
Reya OPRUSDPERPlong	+0.0440%	1h	0.1263	long leg	$702	—	20x
Kraken Futures PF_OPUSD	+0.0491%	1h	0.1264	+0.085%	$798K	$582K	20x	as long as short