Funding arb · Price arb /

BX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0387%/8h= +42.3% APRpaid last 24h +0.280%

Price spread now: GRVT against tradeXYZ+0.036%7-day average +0.098% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on tradeXYZ Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.098%+$10 on $10k

Price spread, last 4 days (all we have)+0.046%+$5 · spread now +0.036%, 7d avg +0.098%

Together, before fees+0.144%+ Points / potential airdroptradeXYZ: Active · GRVT: Active · farm board+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. GRVT is 0.062% cheaper against tradeXYZ than usual: you would sell low and buy high (spread +0.036% now, against its 7-day average of +0.098%). If the spread goes back, that is −$6 on $10k: about 13 hours of funding at the current rate (+$12 a day). At the pace of the last 7 days (+0.098% in total) that is about 4.5 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.098% in total (about 5.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:BX	126.26	−0.0387	get 0.0048% / 1h	13m 07s	$664K	$214K	10x
Short	GRVT BX_USDT_Perp	126.31	0	get 0.0000% / 8h	4h 13m	$836	$110K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against tradeXYZ. 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 tradeXYZbpFee GRVTbpOrdersPrice spread, now +0.036%Rate

Funding earned: $81.19
Price spread: +0.036% → +0.098%: −$6.24
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $47.96
Costs to cover: 0.270%
Break-even: 2.9 days

Slippage unknown: tradeXYZ: live order book, 13 min ago; GRVT: live order book, 39 min ago. Net counts fees only.

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 tradeXYZ live order book, 13 min ago	2.77 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 39 min ago	3.17 bp	33.8 bp −$34	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
tradeXYZ xyz:BXlong	−0.0387%	1h	126.26	long leg	$664K	$214K	10x
Aster BXUSDT	0.0000%	8h	126.18	−0.064%	$5K	$2K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.27	+0.008%	$484K	$836K	25x	as long as short
OKX BX-USDT-SWAP	0.0000%	8h	126.24	−0.016%	$163K	$112K	20x	as long as short
QFEX BX-USD	0.0000%	1h	127.01	+0.594%	$1.1M	$1.5M	10x	as long as short
Gate BX_USDT	0.0000%	8h	126.42	+0.127%	$422K	$28K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.42	+0.127%	$900K	$37K	20x	as long as short
GRVT BX_USDT_Perpshort	0.0000%	8h	126.31	+0.036%	$836	$110K	10x
SunX BX-USDT	0.0000%	8h	126.30	+0.032%	$1K	$317K	10x	as long as short
HTX BX-USDT	0.0000%	8h	126.41	+0.119%	$7K	$3K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BXUSDTM	+0.0100%	8h	126.14	−0.095%	$114K	$932K	20x	as long as short
Injective BX/USDC PERP	+0.0220%	1h	137.37	+8.799%	$4K	$32K	12x	as long as short
Variational Omni BX	+0.0384%	8h	126.30	+0.030%	$43K	$12K	—	as long as short
Binance BXUSDT	+0.0556%	8h	126.29	+0.021%	$779K	$491K	20x	as long as short