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 +0.020%

Price spread now: KuCoin against GRVT+0.169%68s7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$407as 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−$4094.090% of the position

Long on GRVT Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 4 days (all we have)−0.506%−$51 · spread now +0.169%, 7d avg +0.028%

Together, before fees−0.486%+ Points / potential airdropGRVT: Active · farm board−$49 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: KuCoin is 0.141% dearer against GRVT than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.028%. The two prices were read 68 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	0.01186	0.0100	pay 0.0050% / 4h	2h 24m	$123K	$405K	10x
Short	KuCoin WUSDTM	0.01188	0.0100	get 0.0050% / 4h	2h 24m	$450K	$221K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.169%Rate

Funding earned: $0
Price spread: +0.169% → +0.028%: $14.09
Slippage, 4 orders: −$387.97
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$394.88
Costs to cover: 4.090%
Break-even: never at this rate

Slippage from GRVT: live order book, 43 min ago; KuCoin: 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, 43 min ago	8.37 bp	54.5 bp −$54	113.6 bp −$1,136	doesn't fit	doesn't fit
Sell KuCoin live order book, 13 min ago	16.88 bp	115.8 bp −$116	297.4 bp −$2,974	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	−0.0339%	1h	0.01188	+0.160%	$16K	$2K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+1.939%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01186	0.000%	$2.0M	$393K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01185	−0.047%	$3.0M	$6.6M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01185	−0.076%	$4.1M	$1.9M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01184	−0.135%	$1.3M	$1.9M	20x	as long as short
Gate W_USDT	+0.0100%	4h	0.01185	−0.042%	$448K	$264K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01185	−0.042%	$12.8M	$1.4M	50x	as long as short
KuCoin WUSDTMshort	+0.0100%	4h	0.01188	+0.169%	$450K	$221K	50x
Bitget WUSDT	+0.0100%	4h	0.01185	−0.084%	$1.3M	$576K	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	0.01186	−0.017%	—	$6.9M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01186	+0.013%	$71K	$41K	—	as long as short
GRVT W_USDT_Perplong	+0.0100%	4h	0.01186	long leg	$123K	$405K	10x
Extended W-USD	+0.0104%	1h	0.01187	+0.052%	$60K	$239K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0360%	1h	0.01189	+0.228%	$14K	$16K	50x	as long as short
Backpack W_USDC_PERP	+0.0458%	1h	0.01189	+0.295%	$44K	$47K	15x	as long as short
Kraken Futures PF_WUSD	+0.1528%	1h	0.01191	+0.392%	$148K	$180K	20x	as long as short