Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.091%

Price spread now: GRVT against Deribit−0.136%75s7-day average +0.122% · you buy dearer than you sell

Net, funding: paid 7d − costs+$4as 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−$660.656% of the position

Long on Deribit Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.692%+$69 on $10k

Price spread, last 4 days (all we have)+0.005%$0 · spread now −0.136%, 7d avg +0.122%

Together, before fees+0.697%+ Points / potential airdropGRVT: Active · farm board+$70 on $10k · with fees, hour by hour

Funding pays, the price is against you. GRVT is 0.258% cheaper against Deribit than usual: you would sell low and buy high (spread −0.136% now, against its 7-day average of +0.122%). If the spread goes back, that is −$26 on $10k: about 8.6 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.692% in total) that is about 2.6 days. The two prices were read 75 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	Deribit WIF_USDC-PERPETUAL	0.2392	0	get 0.0000% / 1h	37m 55s	$32K	$274K	25x
Short	GRVT WIF_USDT_Perp	0.2389	0.0100	get 0.0050% / 4h	2h 37m	$268K	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 DeribitbpFee GRVTbpOrdersPrice spread, now −0.136%Rate

Funding earned: $21
Price spread: −0.136% → +0.122%: −$25.81
Slippage, 4 orders: −$49.57
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$70.38
Costs to cover: 0.656%
Break-even: 30.5 days

Slippage from Deribit: live order book, 11 min ago; GRVT: live order book, 1 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 Deribit live order book, 11 min ago	6.12 bp	9.6 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 1 min ago	4.19 bp	22.6 bp −$23	58.5 bp −$585	doesn't fit	doesn't fit

WIF on 32 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
BloFin WIF-USDT	−0.0140%	4h	0.2386	−0.251%	$1.0M	$890K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0015%	1h	0.2391	−0.038%	$72K	$316K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2382	−0.434%	$13K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUALlong	0.0000%	1h	0.2392	long leg	$32K	$274K	25x
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2386	−0.232%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0095% / S +0.0031%	1h	0.2387	−0.189%	$8K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2394	+0.088%	$144K	$667K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2385	−0.293%	$51K	$570K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2395	+0.125%	$8.5M	$6.2M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2391	−0.062%	$29K	$330K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WIF	+0.0100%	1h	0.2387	−0.213%	$75K	$69K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2390	−0.073%	$18.6M	$137.4M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2391	−0.042%	$16.4M	$45.7M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2393	+0.042%	$5.5M	$39.1M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2390	−0.084%	$1.1M	$8.8M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2391	−0.042%	$21.7M	$11.9M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2390	−0.084%	$3.9M	$15.9M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2391	−0.042%	$7.3M	$15.3M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2387	−0.209%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2389	−0.121%	$89K	$173K	—	as long as short
GRVT WIF_USDT_Perpshort	+0.0100%	4h	0.2389	−0.136%	$268K	$2.7M	10x
ApeX Omni WIFUSDT	+0.0100%	1h	0.2392	0.000%	$44K	$628K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2389	−0.125%	$4K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2389	−0.125%	$1K	$3.0M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2391	−0.054%	$552	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2389	−0.125%	$168K	$778K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2389	−0.131%	$8K	$163K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2391	−0.042%	$80K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0250%	1h	0.2393	+0.060%	$636K	$2.5M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0416%	1h	0.2388	−0.167%	$322K	$3.0M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2386	−0.245%	$0	—	15x	as long as short
Injective WIF/USDC PERP	+0.0707%	1h	0.2393	+0.042%	$10K	$10K	12x	as long as short