Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0492%/8h= −53.9% APRpaid last 24h −0.004%

Price spread now: Deribit against GRVT−0.053%7-day average +0.001% · 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−$28as in the Price arb table

costs, in and out, $10k−$230.228% of the position

Long on GRVT Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.011%+$1 on $10k

Price spread, last 4 days (all we have)−0.323%−$32 · spread now −0.053%, 7d avg +0.001%

Together, before fees−0.312%+ Points / potential airdropGRVT: Active · farm board−$31 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Deribit is 0.055% cheaper against GRVT than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.001%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.011% in total (about 1.1% 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	GRVT CL_USDT_Perp	92.729	−0.0228	get 0.0114% / 4h	1h 36m	$61K	$633K	25x
Short	Deribit WTIOIL_USDC-PERPETUAL	92.680	−0.0720	pay 0.0090% / 1h	36m 34s	$198K	$369K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.053%Rate

Funding earned: −$103.35
Price spread: −0.053% → +0.001%: −$5.45
Slippage, 4 orders: −$6.77
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$131.57
Costs to cover: 0.228%
Break-even: never at this rate

Slippage from GRVT: live order book, 26 min ago; Deribit: live order book, 27 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, 26 min ago	0.54 bp	8.7 bp −$9	12.3 bp −$123	doesn't fit	doesn't fit
Sell Deribit live order book, 27 min ago	0.54 bp	4.0 bp −$4	7.1 bp −$71	doesn't fit	doesn't fit

CL on 36 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
Deribit WTIOIL_USDC-PERPETUALshort	−0.0720%	1h	92.680	−0.053%	$198K	$369K	15x
Aster CLUSD1	−0.0248%	4h	92.709	−0.022%	$23.9M	$69.1M	20x	as long as short
GRVT CL_USDT_Perplong	−0.0228%	4h	92.729	long leg	$61K	$633K	25x
Binance CLUSDT	−0.0210%	4h	92.700	−0.032%	$244.5M	$955.9M	100x	as long as short
Variational Omni CL	−0.0203%	4h	92.777	+0.051%	$13.6M	$11.1M	—	as long as short
Ondo Perps WTI-USD.P	−0.0166%	1h	92.660	−0.075%	$3.5M	$5.6M	20x	as long as short
Nado WTI-PERP	−0.0143%	1h	92.804	+0.081%	$960K	$664K	10x	as long as short
Gate CL_USDT	−0.0093%	8h	92.660	−0.075%	$20.9M	$52.4M	100x	as long as short
tradeXYZ xyz:CL	−0.0070%	1h	92.716	−0.014%	$184.3M	$218.0M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	+0.022%	$402K	$944K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX CL-USDT-SWAP	−0.0040%	4h	92.680	−0.053%	$42.7M	$101.9M	50x	as long as short
QFEX CL-USD	−0.0032%	1h	92.710	−0.021%	$2.5M	$1.7M	10x	as long as short
Aftermath Perps WTIUSD	−0.0028%	1h	92.796	+0.072%	$2K	$27K	5x	as long as short
edgeX CLUSDC	−0.0011%	4h	92.800	+0.076%	$528K	$301K	30x	as long as short
Lighter WTI	0.0000%	1h	92.716	−0.014%	$11.2M	$10.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.761	+0.035%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.705	−0.026%	$26.4M	$81.3M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.715	−0.016%	$41.9M	$43.3M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.790	+0.065%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.727	−0.003%	$18K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.295	−0.469%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0008%	1h	92.760	+0.033%	$2.1M	$23.0M	10x	as long as short
Paradex CL-USD-PERP	+0.0021%	8h	92.696	−0.036%	$15K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	92.430	−0.323%	$726K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.770	+0.044%	—	$310K	10x	as long as short
KuCoin CLUSDTM	+0.0050%	4h	92.764	+0.037%	$7.3M	$2.3M	50x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.749	+0.021%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.716	−0.014%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	92.832	+0.111%	$3.3M	$2.7M	20x	as long as short
Pacifica CL	+0.0100%	1h	92.700	−0.032%	$331K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.780	+0.055%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.691	−0.042%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.722	−0.008%	$273K	$872K	25x	as long as short
BloFin CL-USDT	+0.0206%	4h	92.700	−0.032%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.715	−0.016%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.95	+9.948%	$19K	$11K	30x	as long as short