Funding arb · Price arb /

WIF

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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 −0.007%

Price spread now: Bybit against GRVT+0.667%7-day average +0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$790.792% of the position

Long on GRVT Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.110%−$11 on $10k

Price spread, last 3 days (all we have)−0.749%−$75 · spread now +0.667%, 7d avg +0.040%

Together, before fees−0.858%+ Points / potential airdropGRVT: Active · farm board−$86 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: Bybit is 0.627% dearer against GRVT than usual: you sell high and buy low, +$63 on $10k if it goes back to its 7-day average of +0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT WIF_USDT_Perp	0.2454	0.0100	pay 0.0050% / 4h	2h 53m	$279K	$1.9M	10x
Short	Bybit WIFUSDT	0.2470	0.0100	get 0.0050% / 4h	2h 53m	$16.9M	$37.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.667%Rate

Funding earned: $0
Price spread: +0.667% → +0.040%: $62.67
Slippage, 4 orders: −$59.22
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$16.55
Costs to cover: 0.792%
Break-even: never at this rate

Slippage from GRVT: live order book, 5 min ago; Bybit: live order book, 5 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, 5 min ago	12.23 bp	27.0 bp −$27	101.4 bp −$1,014	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	2.04 bp	17.8 bp −$18	41.5 bp −$415	276.2 bp −$27.6K	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
Injective WIF/USDC PERP	−0.0783%	1h	0.2470	+0.654%	$11K	$10K	12x	as long as short
Gate WIF_USDT	−0.0194%	4h	0.2470	+0.654%	$1.2M	$7.3M	50x	as long as short
Kraken Futures PF_WIFUSD	−0.0075%	1h	0.2464	+0.390%	$642K	$2.3M	50x	as long as short
KuCoin WIFUSDTM	−0.0042%	4h	0.2471	+0.695%	$4.5M	$12.8M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2466	+0.475%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2460	+0.247%	$48K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2470	+0.670%	$798	—	150x	as long as short
Lighter WIF	+0.0096%	1h	0.2465	+0.447%	$147K	$596K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2467	+0.532%	$56K	$496K	20x	as long as short
Orderly PERP_WIF_USDC	+0.0099%	4h	0.2472	+0.736%	$5K	$1.3M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WIF	+0.0100%	1h	0.2470	+0.671%	$7.9M	$4.6M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2463	+0.387%	$35K	$274K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2465	+0.439%	$76K	$53K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2472	+0.724%	$18.6M	$110.9M	75x	as long as short
Bybit WIFUSDTshort	+0.0100%	4h	0.2470	+0.667%	$16.9M	$37.8M	50x
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2471	+0.695%	$5.9M	$34.4M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2470	+0.654%	$22.3M	$11.0M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2470	+0.654%	$7.5M	$12.4M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2470	+0.654%	—	$65.9M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2461	+0.292%	$78K	$266K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2439	−0.604%	$74K	$70K	—	as long as short
GRVT WIF_USDT_Perplong	+0.0100%	4h	0.2454	long leg	$279K	$1.9M	10x
ApeX Omni WIFUSDT	+0.0100%	1h	0.2457	+0.125%	$42K	$631K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2456	+0.084%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2462	+0.316%	$560	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2459	+0.206%	$168K	$747K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2464	+0.428%	$11K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2459	+0.191%	$82K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0181% / S −0.0044%	1h	0.2471	+0.688%	$8K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0304%	1h	0.2464	+0.410%	$322K	$2.5M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2448	−0.242%	$1.0M	$697K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2469	+0.619%	$0	—	15x	as long as short