Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.020%

Price spread now: Arcus against GRVT+0.261%54s7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$370.369% of the position

Long on GRVT Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.019%+$2 on $10k

Price spread, last 4 days (all we have)−0.124%−$12 · spread now +0.261%, 7d avg +0.001%

Together, before fees−0.105%+ Points / potential airdropGRVT: Active · farm board−$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Arcus is 0.259% dearer against GRVT than usual: you sell high and buy low, +$26 on $10k if it goes back to its 7-day average of +0.001%. The two prices were read 54 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 UNI_USDT_Perp	8.8080	0.0100	pay 0.0100% / 8h	2h 54m	$616K	$2.6M	10x
Short	Arcus UNI-USD	8.8310	0.0100	get 0.0013% / 1h	54m 42s	$272K	$605K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now +0.261%Rate

Funding earned: $0
Price spread: +0.261% → +0.001%: $25.92
Slippage, 4 orders: −$23.43
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$11
Costs to cover: 0.369%
Break-even: never at this rate

Slippage from GRVT: live order book, 4 min ago; Arcus: live order book, 34 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, 4 min ago	0.57 bp	9.3 bp −$9	19.1 bp −$191	2761.8 bp −$276.2K	doesn't fit
Sell Arcus live order book, 34 min ago	5.65 bp	9.3 bp −$9	11.8 bp −$118	doesn't fit	doesn't fit

UNI on 40 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
Variational Omni UNI	−0.0201%	8h	8.8015	−0.075%	$3.9M	$4.9M	—	as long as short
Bybit UNIUSDT	−0.0190%	8h	8.8180	+0.113%	$102.7M	$104.0M	75x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8440	+0.408%	$80K	—	150x	as long as short
OKX UNI-USDT-SWAP	+0.0011%	8h	8.8120	+0.045%	$54.4M	$244.7M	50x	as long as short
01 Exchange UNIUSD	+0.0040%	1h	8.8233	+0.173%	$440	—	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8165	+0.096%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8325	+0.278%	$849K	$3.9M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	8.8383	+0.344%	$1.0M	$3.4M	50x	as long as short
Pacifica UNI	+0.0100%	1h	8.8242	+0.183%	$297K	$559K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8192	+0.127%	$216.0M	$593.7M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus UNI-USDshort	+0.0100%	1h	8.8310	+0.261%	$272K	$605K	10x
Gate UNI_USDT	+0.0100%	8h	8.8210	+0.147%	$22.9M	$58.8M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8270	+0.215%	$42.7M	$24.4M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8280	+0.227%	$13.8M	$13.7M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8120	+0.045%	$31.9M	$41.0M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.8140	+0.068%	—	$49.9M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8449	+0.418%	$979K	$2.4M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8018	−0.070%	$165K	$342K	20x	as long as short
GRVT UNI_USDT_Perplong	+0.0100%	8h	8.8080	long leg	$616K	$2.6M	10x
ApeX Omni UNIUSDT	+0.0100%	1h	8.8040	−0.046%	$83K	$713K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8090	+0.011%	$105K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8424	+0.390%	$87K	$339K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8400	+0.363%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8397	+0.359%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8400	+0.363%	$28K	$659K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8532	+0.513%	$723K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8410	+0.374%	$26.6M	$4.4M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8096	+0.018%	$307K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8423	+0.389%	$31K	$1K	3x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0192%	1h	8.8485	+0.459%	$553K	$125K	50x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.8250	+0.192%	$1.0M	$5.3M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8380	+0.340%	$9.8M	$3.3M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0269%	1h	8.8461	+0.432%	$4.9M	$7.1M	50x	as long as short
Reya UNIRUSDPERP	+0.0359%	1h	8.8378	+0.338%	$16K	—	20x	as long as short
dYdX UNI-USD	+0.0369%	1h	8.8304	+0.254%	$245K	$5K	10x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0380% / S −0.0320%	1h	8.8438	+0.406%	$554K	—	120x	as long as short
Lighter UNI	+0.0472%	1h	8.8424	+0.390%	$4.5M	$5.3M	15x	as long as short
Hyperliquid UNI	+0.0479%	1h	8.8427	+0.393%	$96.1M	$59.5M	10x	as long as short
Aftermath Perps UNIUSD	+0.0515%	1h	8.8166	+0.097%	$1K	$50K	10x	as long as short
Injective UNI/USDC PERP	+0.2702%	1h	8.7900	−0.205%	$657	$97K	12x	as long as short