Funding arb · Price arb /

RIVER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.167%

Price spread now: GRVT against Lighter−0.224%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · GRVT: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: GRVT is 0.224% cheaper against Lighter than usual: you would sell low and buy high, −$22 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RIVER	1.2680	0.0096	pay 0.0012% / 1h	29m 41s	$41K	$14K	3x
Short	GRVT RIVER_USDT_Perp	1.2652	0.0100	get 0.0050% / 4h	29m 41s	$33K	$462K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Lighter. 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 LighterbpFee GRVTbpOrdersPrice spread, now −0.224%Rate

Funding earned: $0.84
Price spread: −0.224% → 0.000%: −$22.39
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$30.55
Costs to cover: 0.090%
Break-even: 261.6 days

Slippage unknown: Lighter: no order-book sample; GRVT: live order book, 28 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 Lighter no order-book sample	—	—	—	—	—
Sell GRVT live order book, 28 min ago	7.92 bp	47.6 bp −$48	119.9 bp −$1,199	doesn't fit	doesn't fit

Lighter: 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.

RIVER on 16 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
Lighter RIVERlong	+0.0096%	1h	1.2680	long leg	$41K	$14K	3x
KuCoin RIVERUSDTM	+0.0100%	4h	1.2660	−0.158%	$2.5M	$3.2M	50x	as long as short
Variational Omni RIVER	+0.0100%	4h	1.2633	−0.372%	$42K	$20K	—	as long as short
GRVT RIVER_USDT_Perpshort	+0.0100%	4h	1.2652	−0.224%	$33K	$462K	10x
SunX RIVER-USDT	+0.0100%	4h	1.2620	−0.473%	$2K	$1.1M	20x	as long as short
HTX RIVER-USDT	+0.0100%	4h	1.2670	−0.079%	$47K	$66K	20x	as long as short
Gate RIVER_USDT	+0.0204%	4h	1.2670	−0.079%	$427K	$103K	20x	as long as short
OKX RIVER-USDT-SWAP	+0.0207%	4h	1.2690	+0.079%	$2.0M	$3.9M	20x	as long as short
Bybit RIVERUSDT	+0.0322%	4h	1.2680	0.000%	$3.8M	$1.8M	25x	as long as short
MEXC RIVER_USDT	+0.0380%	4h	1.2680	0.000%	$3.7M	$1.6M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance RIVERUSDT	+0.0392%	4h	1.2690	+0.079%	$6.0M	$11.2M	50x	as long as short
BloFin RIVER-USDT	+0.0436%	4h	1.2600	−0.631%	$416K	$32K	50x	as long as short
BingX RIVER-USDT	+0.0478%	4h	1.2680	0.000%	—	$6.8M	—	as long as short
Bitget RIVERUSDT	+0.0506%	4h	1.2680	0.000%	$3.0M	$2.0M	20x	as long as short
Kraken Futures PF_RIVERUSD	+0.0638%	1h	1.2669	−0.085%	$57K	$70K	10x	as long as short
Aster RIVERUSDT	+0.0833%	4h	1.2647	−0.256%	$72K	$28K	10x	as long as short