Funding you earn now, next payment 16:00 UTC−0.0738%/8h= −80.8% APRnext payment −$7.38 per $10,000 · paid last 24h −0.121%
Price spread now: Bybit against GRVT−0.091%70s7-day average −0.005% · you buy dearer than you sell
Net, funding: paid 7d − costs−$126as 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−$1061.057% of the position
Funding, last 7 days−0.206%−$21 on $10k
+Price spread, last 4 days (all we have)+0.085%+$9 · spread now −0.091%, 7d avg −0.005%
=Together, before fees−0.121%+ Points / potential airdropGRVT: Active · farm board−$12 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and Bybit is 0.086% cheaper against GRVT than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.005%). Swap the legs. The two prices were read 70 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.206% in total (about -10.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$7.38 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GRVT EWJ_USDT_Perp | 98.459 | 0.0738 | pay 0.0738% / 8h | 4h 52m | $631K | $420K | 10x |
| Short | Bybit EWJUSDT | 98.370 | 0 | get 0.0000% / 8h | 4h 52m | $188K | $103K | 25x |
GRVT EWJ_USDT_Perp
Bybit EWJUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against GRVT. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$154.98
- Price spread: −0.091% → −0.005%
- −$8.56
- Slippage, 4 orders
- −$85.75
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$269.29
- Costs to cover
- 1.057%
- Break-even
- never at this rate
Slippage from GRVT: live order book, 53 min ago; Bybit: live order book, 45 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, 53 min ago | 3.05 bp | 20.1 bp −$20 | 65.1 bp −$651 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 45 min ago | 5.58 bp | 36.8 bp −$37 | doesn't fit | doesn't fit | doesn't fit |
EWJ on 16 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX EWJUSDC | −0.0884% | 4h | 98.462 | +0.003% | $600K | $232K | 20x | as long as short |
| Aster EWJUSDT | 0.0000% | 8h | 98.410 | −0.050% | $18K | $4K | 20x | as long as short |
| Bybit EWJUSDTshort | 0.0000% | 8h | 98.370 | −0.091% | $188K | $103K | 25x | |
| OKX EWJ-USDT-SWAP | 0.0000% | 8h | 98.420 | −0.040% | $299K | $125K | 20x | as long as short |
| Gate EWJ_USDT | 0.0000% | 8h | 98.410 | −0.050% | $350K | $217K | 25x | as long as short |
| Bitget EWJUSDT | 0.0000% | 8h | 98.400 | −0.060% | $739K | $200K | 20x | as long as short |
| Variational Omni EWJ | 0.0000% | 8h | 98.469 | +0.010% | $117K | $30K | — | as long as short |
| SunX EWJ-USDT | 0.0000% | 8h | 98.377 | −0.084% | $2K | $1.5M | 20x | as long as short |
| HTX EWJ-USDT | 0.0000% | 8h | 98.248 | −0.215% | $8K | $38K | 20x | as long as short |
| BloFin EWJ-USDT | +0.0022% | 8h | 98.460 | +0.001% | $44K | $69K | 20x | as long as short |
edgeX EWJUSDC
Aster EWJUSDT
OKX EWJ-USDT-SWAP
Gate EWJ_USDT
Bitget EWJUSDT
Variational Omni EWJ
SunX EWJ-USDT
HTX EWJ-USDT
BloFin EWJ-USDTShow all 16 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC EWJ_USDT | +0.0062% | 8h | 98.380 | −0.081% | $687K | $272K | 20x | as long as short |
| Binance EWJUSDT | +0.0069% | 8h | 98.420 | −0.040% | $1.1M | $1.1M | 20x | as long as short |
| KuCoin EWJUSDTM | +0.0100% | 8h | 98.400 | −0.060% | $160K | $1.1M | 20x | as long as short |
| tradeXYZ xyz:EWJ | +0.0249% | 1h | 98.406 | −0.054% | $1.5M | $664K | 20x | as long as short |
| Hotstuff EWJ-PERP | +0.0712% | 1h | 98.410 | −0.050% | $35K | — | 20x | as long as short |
| GRVT EWJ_USDT_Perplong | +0.0738% | 8h | 98.459 | long leg | $631K | $420K | 10x |
MEXC EWJ_USDT
Binance EWJUSDT
KuCoin EWJUSDTM
tradeXYZ xyz:EWJ
Hotstuff EWJ-PERP