Funding arb · Price arb /

EWT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0280%/8h= −30.7% APRpaid last 24h −0.011%

Price spread now: tradeXYZ against GRVT−0.007%86s7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$75as 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−$890.895% of the position

Long on GRVT Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.144%+$14 on $10k

Price spread, last 4 days (all we have)−0.018%−$2 · spread now −0.007%, 7d avg −0.014%

Together, before fees+0.125%+ Points / potential airdropGRVT: Active · tradeXYZ: Active · farm board+$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.014%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.144%, so the current rate has only just turned against you. The two prices were read 86 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 0.144% in total (about 7.5% 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 EWT_USDT_Perp	115.69	0	get 0.0000% / 8h	4h 35m	$3K	$182K	10x
Short	tradeXYZ xyz:EWT	115.68	−0.0280	pay 0.0035% / 1h	35m 51s	$691K	$190K	20x

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 −0.007%Rate

Funding earned: −$58.88
Price spread: −0.007% → −0.014%: $0.73
Slippage, 4 orders: −$62.46
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$147.6
Costs to cover: 0.895%
Break-even: never at this rate

Slippage from GRVT: live order book, 21 min ago; tradeXYZ: live order book, 61 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, 21 min ago	3.03 bp	35.3 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 61 min ago	2.59 bp	13.7 bp −$14	40.9 bp −$409	doesn't fit	doesn't fit

EWT on 12 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:EWTshort	−0.0280%	1h	115.68	−0.007%	$691K	$190K	20x
Aster EWTUSDT	0.0000%	8h	115.61	−0.067%	$3K	$76	20x	as long as short
Binance EWTUSDT	0.0000%	8h	115.67	−0.015%	$474K	$807K	20x	as long as short
Bybit EWTUSDT	0.0000%	8h	115.59	−0.084%	$222K	$139K	25x	as long as short
OKX EWT-USDT-SWAP	0.0000%	8h	115.89	+0.175%	$173K	$165K	20x	as long as short
Gate EWT_USDT	0.0000%	8h	115.68	−0.007%	$44K	$4K	25x	as long as short
MEXC EWT_USDT	0.0000%	8h	115.63	−0.050%	$2.4M	$92K	50x	as long as short
Bitget EWTUSDT	0.0000%	8h	115.72	+0.028%	$1.3M	$434K	20x	as long as short
Variational Omni EWT	0.0000%	8h	115.65	−0.028%	$57K	$14K	—	as long as short
GRVT EWT_USDT_Perplong	0.0000%	8h	115.69	long leg	$3K	$182K	10x

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX EWT-USDT	0.0000%	8h	115.66	−0.024%	$1K	$335K	10x	as long as short
HTX EWT-USDT	0.0000%	8h	115.46	−0.197%	$16K	$7K	10x	as long as short