Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 0.000004515 | +0.1005 | pay 0.0126% / 1h | 53m 17s | $176K | $1.4M | 15x | Long Backpack | |
| SHORT | 0.000004555 | +0.0100 | get 0.0100% / 8h | 7h 53m | $1.1M | $3.2M | 10x | Short GRVT |
Price gap+0.884%
Funding gap−0.0905% /8h
The gap pays +$85 on $10k if it goes back to its 7d average, but funding costs $27 a day and eats that in about 3.1 days. At the last 7 days' pace that is about 13 days.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$46−0.0905% /8h now · paid −0.459% over the last 7D
Price+$85spread +0.884% now, avg +0.035% → +0.849% if it goes back
Costs−$480.481% of $10k · taker + slippage, in and out
Result−$9−0.09%+ Points / potential airdropGRVT: points · farm boardWhat the last 7D really paid, hour by hour → backtest
The current funding rate is far below what this pair has been paying: over the last 7 days it paid −0.459% in total, about −0.0219%/8h on average.
Price and funding
1h · historyEntry / Exit
Price spread
Prices
Fundingper 8h
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now+0.884%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hPEPE on 39 exchanges
lowest funding firstBefore you open
2 ok · 4 to watch- Watch: Thin at this size15.8 / 12.3 bpAt $10k entering Backpack costs 15.8 bp, fee and slippage, 1.3× GRVT’s.
- Note: Margin at max leverage$667 + $1,000Backpack 15x, GRVT 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ1h / 8hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: −$27.16Long Backpack: 24 payments, −$30.16; short GRVT: 3 payments, +$3.00.
- OK: Entry gap works for you+0.884% vs +0.035%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Long leg is thinner$176K vs $1.1M OIBackpack sets your exit cost. Check its book before closing.
- OK: Points on a legGRVT pointsVolume here counts toward the points program.
- Watch: KYCBackpack Yes · GRVT NoKYC (ID, face scan, residency and source of income) before any trading.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0219%/8h × 21 periods−$45.89
Price spread+0.884% → +0.035% (7d avg)+$84.90
Slippage, 4 orderslive order books−$29.15
Fee Backpack bp × 2 orders−$10.00
Fee GRVT bp × 2 orders−$9.00
Net · 7 days · $10k−$9.14
Costs to cover0.481%Break-evenfrom the start
Slippage: Backpack: live order book, 5 min ago; GRVT: live order book, 4 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGBackpack0.1115.8 bp−$16doesn’t fitdoesn’t fitdoesn’t fit
SELL · SHORTGRVT5.3712.3 bp−$12doesn’t fitdoesn’t fitdoesn’t fit
Closing costs about the same again.
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