Funding arb · Price arb /

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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 +0.020%

Price spread now: BingX against GRVT−0.432%54s7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$192as 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−$1941.936% of the position

Long on GRVT Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 3 days (all we have)+0.261%+$26 · spread now −0.432%, 7d avg −0.023%

Together, before fees+0.279%+ Points / potential airdropGRVT: Active · farm board+$28 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: BingX is 0.409% cheaper against GRVT than usual: you would sell low and buy high, −$41 on $10k if it goes back to its 7-day average of −0.023%. 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 W_USDT_Perp	0.01179	0.0100	pay 0.0050% / 4h	2h 54m	$123K	$384K	10x
Short	BingX W-USDT	0.01174	0.0100	get 0.0050% / 4h	2h 54m	—	$6.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.432%Rate

Funding earned: $0
Price spread: −0.432% → −0.023%: −$40.88
Slippage, 4 orders: −$174.64
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$234.52
Costs to cover: 1.936%
Break-even: never at this rate

Slippage from GRVT: live order book, 13 min ago; BingX: live order book, 13 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, 13 min ago	8.37 bp	54.5 bp −$54	113.6 bp −$1,136	doesn't fit	doesn't fit
Sell BingX live order book, 13 min ago	4.19 bp	26.6 bp −$27	60.1 bp −$601	544.7 bp −$54.5K	1091.8 bp −$545.9K

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	−0.0175%	1h	0.01175	−0.364%	$16K	$2K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.511%	$1K	$1K	12x	as long as short
OKX W-USDT-SWAP	+0.0087%	4h	0.01174	−0.465%	$1.3M	$1.9M	20x	as long as short
Hyperliquid W	+0.0100%	1h	0.01175	−0.372%	$2.0M	$401K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01175	−0.405%	$3.0M	$6.7M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01173	−0.567%	$4.1M	$1.9M	50x	as long as short
Gate W_USDT	+0.0100%	4h	0.01177	−0.220%	$444K	$263K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01176	−0.313%	$12.7M	$1.4M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01177	−0.203%	$444K	$221K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01175	−0.372%	$1.3M	$567K	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-USDTshort	+0.0100%	4h	0.01174	−0.432%	—	$6.9M	—
Backpack W_USDC_PERP	+0.0100%	1h	0.01177	−0.169%	$45K	$47K	15x	as long as short
Variational Omni W	+0.0100%	4h	0.01173	−0.519%	$71K	$41K	—	as long as short
GRVT W_USDT_Perplong	+0.0100%	4h	0.01179	long leg	$123K	$384K	10x
Extended W-USD	+0.0104%	1h	0.01174	−0.432%	$59K	$240K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0360%	1h	0.01183	+0.315%	$14K	$16K	50x	as long as short
Kraken Futures PF_WUSD	+0.1544%	1h	0.01178	−0.115%	$146K	$181K	20x	as long as short