Funding arb · Price arb /

EWT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0207%/8h= −22.7% APRpaid last 24h +0.041%

Price spread now: GRVT against tradeXYZ+0.106%46s7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$139as 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−$1241.244% of the position

Long on tradeXYZ Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.143%−$14 on $10k

Price spread, last 4 days (all we have)−0.054%−$5 · spread now +0.106%, 7d avg +0.018%

Together, before fees−0.197%+ Points / potential airdroptradeXYZ: Active · GRVT: Active · farm board−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GRVT is 0.087% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.106% now, against its 7-day average of +0.018%): +$9 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 34 hours. At the pace of the last 7 days (−0.143% in total) that is about 4.3 days. The two prices were read 46 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 -0.143% 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	tradeXYZ xyz:EWT	113.74	0.0030	pay 0.0004% / 1h	36m 43s	$708K	$117K	20x
Short	GRVT EWT_USDT_Perp	113.86	−0.0177	pay 0.0177% / 8h	7h 36m	$3K	$152K	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

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 tradeXYZbpFee GRVTbpOrdersPrice spread, now +0.106%Rate

Funding earned: −$43.57
Price spread: +0.106% → +0.018%: $8.74
Slippage, 4 orders: −$97.42
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$159.24
Costs to cover: 1.244%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 10 min ago; GRVT: live order book, 60 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 tradeXYZ live order book, 10 min ago	5.27 bp	18.3 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 60 min ago	3.06 bp	32.3 bp −$32	doesn't fit	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
GRVT EWT_USDT_Perpshort	−0.0177%	8h	113.86	+0.106%	$3K	$152K	10x
Aster EWTUSDT	0.0000%	8h	113.83	+0.079%	$3K	$76	20x	as long as short
Binance EWTUSDT	0.0000%	8h	113.76	+0.021%	$469K	$507K	20x	as long as short
Bybit EWTUSDT	0.0000%	8h	113.75	+0.009%	$218K	$18K	25x	as long as short
OKX EWT-USDT-SWAP	0.0000%	8h	113.78	+0.035%	$171K	$42K	20x	as long as short
Gate EWT_USDT	0.0000%	8h	113.85	+0.097%	$43K	$807	25x	as long as short
MEXC EWT_USDT	0.0000%	8h	113.76	+0.018%	$2.4M	$82K	50x	as long as short
Bitget EWTUSDT	0.0000%	8h	113.76	+0.018%	$1.2M	$247K	20x	as long as short
Variational Omni EWT	0.0000%	8h	113.81	+0.058%	$55K	$14K	—	as long as short
SunX EWT-USDT	0.0000%	8h	113.82	+0.070%	$920	$224K	10x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX EWT-USDT	0.0000%	8h	113.92	+0.158%	$15K	$8K	10x	as long as short
tradeXYZ xyz:EWTlong	+0.0030%	1h	113.74	long leg	$708K	$117K	20x