Funding arb · Price arb /

BX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0027%/8h= +3.0% APRpaid last 24h −0.290%

Price spread now: tradeXYZ against GRVT−0.127%86s7-day average −0.098% · you buy dearer than you sell

Net, funding: paid 7d − costs−$149as 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−$1381.377% of the position

Long on GRVT Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.109%−$11 on $10k

Price spread, last 4 days (all we have)+0.057%+$6 · spread now −0.127%, 7d avg −0.098%

Together, before fees−0.052%+ Points / potential airdropGRVT: Active · tradeXYZ: Active · farm board−$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.028% cheaper against GRVT than usual: you would sell low and buy high (spread −0.127% now, against its 7-day average of −0.098%). If the spread goes back, that is −$3 on $10k: about 3.5 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.109%, so the current rate has only just turned in your favour. The two prices were read 86 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 BX_USDT_Perp	126.38	0	get 0.0000% / 8h	1h 18m	$1K	$103K	10x
Short	tradeXYZ xyz:BX	126.22	0.0027	get 0.0003% / 1h	18m 02s	$664K	$224K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.127%Rate

Funding earned: $5.73
Price spread: −0.127% → −0.098%: −$2.85
Slippage, 4 orders: −$110.68
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$134.81
Costs to cover: 1.377%
Break-even: 171.8 days

Slippage from GRVT: live order book, 18 min ago; tradeXYZ: live order book, 49 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, 18 min ago	6.34 bp	40.2 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 49 min ago	2.77 bp	31.7 bp −$32	doesn't fit	doesn't fit	doesn't fit

BX on 14 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
Aster BXUSDT	0.0000%	8h	126.20	−0.140%	$5K	$868	20x	as long as short
Binance BXUSDT	0.0000%	8h	126.32	−0.047%	$775K	$491K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.38	0.000%	$482K	$803K	25x	as long as short
OKX BX-USDT-SWAP	0.0000%	8h	126.31	−0.055%	$163K	$112K	20x	as long as short
QFEX BX-USD	0.0000%	1h	126.94	+0.443%	$1.1M	$1.5M	10x	as long as short
Gate BX_USDT	0.0000%	8h	126.45	+0.055%	$422K	$25K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.42	+0.032%	$900K	$28K	20x	as long as short
Variational Omni BX	0.0000%	8h	126.33	−0.037%	$43K	$12K	—	as long as short
GRVT BX_USDT_Perplong	0.0000%	8h	126.38	long leg	$1K	$103K	10x
SunX BX-USDT	0.0000%	8h	126.34	−0.032%	$642	$289K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX BX-USDT	0.0000%	8h	126.22	−0.127%	$7K	$4K	20x	as long as short
tradeXYZ xyz:BXshort	+0.0027%	1h	126.22	−0.127%	$664K	$224K	10x
KuCoin BXUSDTM	+0.0100%	8h	126.15	−0.182%	$110K	$805K	20x	as long as short
Injective BX/USDC PERP	+0.0220%	1h	138.74	+9.780%	$4K	$32K	12x	as long as short