Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 1,880.6 | +0.0050 | pay 0.0050% / 8h | 7h 45m | $9K | $98K | 10x | Long GRVT | |
| SHORT | 1,921.4 | +0.0208 | get 0.0026% / 1h | 45m 01s | $1.1M | $46K | 6x | Short Phoenix |
Price gap+2.170%
Funding gap+0.0158% /8h
Both sides work: funding pays +$5 a day on $10k, and the gap is 0.286% above its 7d average: +$29 more if it goes back.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$10+0.0158% /8h now · paid −0.101% over the last 7D
Price+$29spread +2.170% now, avg +1.883% → +0.286% if it goes back
Costsdoesn’t fit$10k a leg is deeper than the books hold
Result, before costs+$19+0.19%+ Points / potential airdropGRVT: points · farm boardcosts unknown: book too thin at $10k · What the last 7D really paid, hour by hour → backtest
Price and funding
1h · historyEntry / Exit
Price spread
Prices
Fundingper 8h
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now+2.170%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hANTHROPIC on 26 exchanges
lowest funding firstBefore you open
3 ok · 3 to watch- Problem: Doesn’t fit the books—$10k a leg is deeper than GRVT’s order book right now.
- Note: Margin at max leverage$1,000 + $1,667GRVT 10x, Phoenix 6x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ8h / 1hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: +$4.74Long GRVT: 3 payments, −$1.50; short Phoenix: 24 payments, +$6.24.
- OK: Entry gap works for you+2.170% vs +1.883%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Long leg is thinner$9K vs $1.1M OIGRVT sets your exit cost. Check its book before closing.
- OK: Points on a legGRVT pointsVolume here counts toward the points program.
- OK: No KYC on either legGRVT No · Phoenix NoBoth exchanges let you trade without ID.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0048%/8h × 21 periods−$10.08
Price spread+2.170% → +1.883% (7d avg)+$28.61
Slippage, 4 ordersdoesn’t fit the book at $10k—
Fee GRVT bp × 2 orders−$9.00
Fee Phoenix bp × 2 orders−$7.00
Net · 7 days · $10k—
doesn’t fit the books at $10kCosts to cover—Break-even—
Slippage: GRVT: live order book, 63 min ago; Phoenix: live order book, 2 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGGRVT2.96doesn’t fitdoesn’t fitdoesn’t fitdoesn’t fit
SELL · SHORTPhoenix3.1243.7 bp−$44279.9 bp−$2,799doesn’t fitdoesn’t fit
Closing costs about the same again.
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