Funding arb · Price arb /

W

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: GRVT against Bybit−0.585%90s7-day average +0.073% · you buy dearer than you sell

Net, funding: paid 7d − costs−$234as in the Funding arb table

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

costs, in and out, $10k−$2402.400% of the position

Long on Bybit Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.062%+$6 on $10k

Price spread, last 4 days (all we have)+0.869%+$87 · spread now −0.585%, 7d avg +0.073%

Together, before fees+0.931%+ Points / potential airdropGRVT: Active · farm board+$93 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: GRVT is 0.657% cheaper against Bybit than usual: you would sell low and buy high, −$66 on $10k if it goes back to its 7-day average of +0.073%. The two prices were read 90 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	Bybit WUSDT	0.01188	0.0100	pay 0.0050% / 4h	30m 01s	$4.2M	$1.9M	50x
Short	GRVT W_USDT_Perp	0.01181	0.0100	get 0.0050% / 4h	30m 01s	$127K	$422K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Bybit. 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 BybitbpFee GRVTbpOrdersPrice spread, now −0.585%Rate

Funding earned: $0
Price spread: −0.585% → +0.073%: −$65.71
Slippage, 4 orders: −$219.97
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$305.67
Costs to cover: 2.400%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; GRVT: live order book, 28 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 Bybit live order book, 3 min ago	2.11 bp	35.2 bp −$35	133.8 bp −$1,338	doesn't fit	doesn't fit
Sell GRVT live order book, 28 min ago	8.46 bp	106.8 bp −$107	161.1 bp −$1,611	doesn't fit	doesn't fit

W on 17 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
Deribit W_USDC-PERPETUAL	−0.0086%	1h	0.01188	+0.051%	$16K	$2K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+1.793%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01189	+0.109%	$2.0M	$345K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01189	+0.084%	$3.0M	$6.5M	50x	as long as short
Bybit WUSDTlong	+0.0100%	4h	0.01188	long leg	$4.2M	$1.9M	50x
OKX W-USDT-SWAP	+0.0100%	4h	0.01188	+0.067%	$1.3M	$1.9M	20x	as long as short
Gate W_USDT	+0.0100%	4h	0.01189	+0.126%	$450K	$229K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01189	+0.109%	$12.9M	$1.4M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01187	−0.059%	$385K	$214K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01189	+0.109%	$1.3M	$581K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDT	+0.0100%	4h	0.01189	+0.084%	—	$6.8M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01186	−0.140%	$71K	$41K	—	as long as short
GRVT W_USDT_Perpshort	+0.0100%	4h	0.01181	−0.585%	$127K	$422K	10x
Extended W-USD	+0.0104%	1h	0.01188	+0.056%	$62K	$235K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0360%	1h	0.01190	+0.168%	$14K	$16K	50x	as long as short
Backpack W_USDC_PERP	+0.0612%	1h	0.01191	+0.253%	$44K	$43K	15x	as long as short
Kraken Futures PF_WUSD	+0.1679%	1h	0.01191	+0.256%	$147K	$183K	20x	as long as short