Funding arb · Price arb /

W

all W markets

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: GRVT against KuCoin−0.168%83s7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$411as 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 KuCoin Short on GRVT

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 −0.168%, 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: GRVT is 0.141% cheaper against KuCoin than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of −0.028%. The two prices were read 83 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	KuCoin WUSDTM	0.01188	0.0100	pay 0.0050% / 4h	2h 24m	$450K	$221K	50x
Short	GRVT W_USDT_Perp	0.01186	0.0100	get 0.0050% / 4h	2h 24m	$123K	$405K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against KuCoin. 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 KuCoinbpFee GRVTbpOrdersPrice spread, now −0.168%Rate

Funding earned: $0
Price spread: −0.168% → −0.028%: −$14.06
Slippage, 4 orders: −$387.97
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$423.03
Costs to cover: 4.090%
Break-even: never at this rate

Slippage from KuCoin: live order book, 13 min ago; GRVT: live order book, 43 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 KuCoin live order book, 13 min ago	16.88 bp	152.4 bp −$152	310.4 bp −$3,104	doesn't fit	doesn't fit
Sell GRVT live order book, 43 min ago	8.37 bp	86.3 bp −$86	185.9 bp −$1,859	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	−0.0340%	1h	0.01185	−0.261%	$16K	$2K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+1.768%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01186	−0.168%	$2.0M	$393K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01185	−0.261%	$3.0M	$6.6M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01184	−0.311%	$4.1M	$1.9M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01184	−0.345%	$1.3M	$1.9M	20x	as long as short
Gate W_USDT	+0.0100%	4h	0.01185	−0.210%	$448K	$264K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01185	−0.236%	$12.8M	$1.4M	50x	as long as short
KuCoin WUSDTMlong	+0.0100%	4h	0.01188	long leg	$450K	$221K	50x
Bitget WUSDT	+0.0100%	4h	0.01185	−0.253%	$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	−0.185%	—	$6.9M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01186	−0.155%	$71K	$41K	—	as long as short
GRVT W_USDT_Perpshort	+0.0100%	4h	0.01186	−0.168%	$123K	$405K	10x
Extended W-USD	+0.0104%	1h	0.01185	−0.242%	$60K	$239K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0360%	1h	0.01189	+0.059%	$14K	$16K	50x	as long as short
Backpack W_USDC_PERP	+0.0458%	1h	0.01189	+0.126%	$44K	$47K	15x	as long as short
Kraken Futures PF_WUSD	+0.1532%	1h	0.01188	−0.027%	$147K	$180K	20x	as long as short