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Funding arb · Price arb /

BZ

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 09:00 UTC+0.0127%/8h= +13.9% APRpaid last 24h +0.012%
Price spread now: GRVT against Deribit−0.060%75s7-day average −0.007% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$260.260% of the position
Long on DeribitShort on GRVT
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.408%+$41 on $10k
Price spread, last 4 days (all we have)+0.379%+$38 · spread now −0.060%, 7d avg −0.007%
Together, before fees+0.786%+ Points / potential airdropGRVT: Active · farm board+$79 on $10k · with fees, hour by hour
Funding pays, the price is against you. GRVT is 0.053% cheaper against Deribit than usual: you would sell low and buy high (spread −0.060% now, against its 7-day average of −0.007%). If the spread goes back, that is −$5 on $10k: about 33 hours of funding at the current rate (+$4 a day). At the pace of the last 4 days (+0.408% in total) that is about 12 hours. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongDeribit BRENTOIL_USDC-PERPETUAL97.360−0.0161get 0.0020% / 1h46m 18s$100K$259K15x
ShortGRVT BZ_USDT_Perp97.302−0.0034pay 0.0017% / 4h3h 46m$14K$332K25x

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

Funding earned
$26.6
Price spread: −0.060% → −0.007%
−$5.26
Slippage, 4 orders
−$9.96
Fee Deribit: 3.5 bp × 2 orders
−$7
Fee GRVT: 4.5 bp × 2 orders
−$9
Net
−$4.62
Costs to cover
0.260%
Break-even
8.2 days
Slippage from Deribit: live order book, 52 min ago; GRVT: live order book, 51 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Deribit live order book, 52 min ago0.51 bp8.1 bp −$89.6 bp −$96doesn't fitdoesn't fit
Sell GRVT live order book, 51 min ago0.51 bp5.0 bp −$510.6 bp −$106doesn't fitdoesn't fit

BZ on 31 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective BRENT/USDC PERP−0.0220%1h96.342−1.046%$8K$7K30xas long as short
Deribit BRENTOIL_USDC-PERPETUALlong−0.0161%1h97.360long leg$100K$259K15x
Ondo Perps BRENT-USD.P−0.0067%1h97.240−0.123%$3.1M$990K15xas long as short
Coinbase International BRENTOIL-PERP-INTX−0.0056%1h97.480+0.123%$237K$402K15xas long as short
RISEx BZ/USDC−0.0039%1h97.345−0.015%$2.4M$1.7M20xas long as short
GRVT BZ_USDT_Perpshort−0.0034%4h97.302−0.060%$14K$332K25x
Hotstuff BRENTOIL-PERP−0.0024%1h97.320−0.041%$34K—20xas long as short
Kraken Futures PF_BRENTOILUSD−0.0002%1h97.363+0.003%$82K$200K20xas long as short
Aster BZUSDT0.0000%4h97.353−0.008%$339K$761K50xas long as short
Binance BZUSDT0.0000%4h97.3600.000%$148.8M$352.8M100xas long as short
Show all 31 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit BZUSDT0.0000%8h97.340−0.021%$10.3M$13.3M100xas long as short
OKX BZ-USDT-SWAP0.0000%4h97.340−0.021%$16.1M$19.8M50xas long as short
Gate BZ_USDT0.0000%8h97.310−0.051%$9.2M$10.3M100xas long as short
Bitget BZUSDT0.0000%4h97.350−0.010%$27.9M$18.7M100xas long as short
Variational Omni BZ0.0000%4h97.269−0.094%$9.4M$6.2M—as long as short
SunX BRENTOIL-USDT0.0000%4h97.370+0.010%$4K$2.4M20xas long as short
HTX BRENTOIL-USDT0.0000%4h97.270−0.092%$279K$251K75xas long as short
Phemex XBRUSDT0.0000%4h97.470+0.113%$1.2M$85K100xas long as short
edgeX BZUSDC+0.0009%4h97.270−0.092%$223K$229K20xas long as short
Vest BZ-PERP+0.0010%1h101.33+4.078%—$735K10xas long as short
gTrade (Gains Network) BRENT/USDL +0.0011% / S −0.0011%1h97.912+0.567%———as long as short
BloFin BZ-USDT+0.0028%4h97.270−0.092%$1.5M$99K50xas long as short
Lighter BRENTOIL+0.0032%1h97.340−0.021%$3.3M$4.1M20xas long as short
Extended XBR-USD+0.0032%1h97.385+0.026%$747K$2.8M10xas long as short
Paradex BZ-USD-PERP+0.0049%8h97.359−0.001%$2K$1K5xas long as short
tradeXYZ xyz:BRENTOIL+0.0050%1h97.396+0.037%$155.4M$115.8M20xas long as short
Polymarket Perps BRENTOIL-USD+0.0050%1h97.365+0.005%$1.6M$370K20xas long as short
Aftermath Perps BRENTUSD+0.0074%1h97.328−0.033%$7K$40K5xas long as short
KuCoin BZUSDTM+0.0100%4h97.340−0.021%$3.8M$798K50xas long as short
ApeX Omni BZUSDT+0.0100%1h97.330−0.031%$26K$273K50xas long as short
GMX BRENTOIL/USD [ETH-USDC]L +0.0328% / S −0.2771%1h97.375+0.015%$116K—111xas long as short