Funding arb · Price arb /

EWZ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.116%

Price spread now: Bybit against GRVT−0.105%70s7-day average +0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$326as 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−$3203.203% of the position

Long on GRVT Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.059%−$6 on $10k

Price spread, last 4 days (all we have)+0.132%+$13 · spread now −0.105%, 7d avg +0.037%

Together, before fees+0.073%+ Points / potential airdropGRVT: Active · farm board+$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.142% cheaper against GRVT than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.037%. The two prices were read 70 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT EWZ_USDT_Perp	37.920	0	get 0.0000% / 8h	40m 25s	$3	$127K	10x
Short	Bybit EWZUSDT	37.880	0	get 0.0000% / 8h	40m 25s	$325K	$16K	25x

Funding 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 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 BybitbpOrdersPrice spread, now −0.105%Rate

Funding earned: $0
Price spread: −0.105% → +0.037%: −$14.21
Slippage, 4 orders: −$300.3
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$334.5
Costs to cover: 3.203%
Break-even: never at this rate

Slippage from GRVT: live order book, 56 min ago; Bybit: live order book, 54 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, 56 min ago	5.27 bp	87.7 bp −$88	181.4 bp −$1,814	doesn't fit	doesn't fit
Sell Bybit live order book, 54 min ago	15.84 bp	54.0 bp −$54	doesn't fit	doesn't fit	doesn't fit

EWZ on 13 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
KuCoin EWZUSDTM	−0.0694%	8h	37.870	−0.132%	$26K	$719K	20x	as long as short
Aster EWZUSDT	0.0000%	8h	37.907	−0.034%	$9K	$50	20x	as long as short
Binance EWZUSDT	0.0000%	8h	37.920	−0.001%	$295K	$262K	20x	as long as short
Bybit EWZUSDTshort	0.0000%	8h	37.880	−0.105%	$325K	$16K	25x
OKX EWZ-USDT-SWAP	0.0000%	8h	37.940	+0.053%	$124K	$40K	20x	as long as short
Gate EWZ_USDT	0.0000%	8h	37.900	−0.053%	$60K	$7K	20x	as long as short
MEXC EWZ_USDT	0.0000%	8h	37.910	−0.026%	$721K	$80K	50x	as long as short
Bitget EWZUSDT	0.0000%	8h	37.936	+0.042%	$77K	$25K	20x	as long as short
Variational Omni EWZ	0.0000%	8h	37.903	−0.046%	$49K	$34K	—	as long as short
GRVT EWZ_USDT_Perplong	0.0000%	8h	37.920	long leg	$3	$127K	10x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX EWZ-USDT	0.0000%	8h	37.900	−0.053%	$989	$512K	10x	as long as short
HTX EWZ-USDT	0.0000%	8h	37.850	−0.185%	$5K	$7K	10x	as long as short
tradeXYZ xyz:EWZ	+0.0050%	1h	37.904	−0.042%	$592K	$83K	20x	as long as short