Funding arb · Price arb /

INTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0310%/8h= −33.9% APRpaid last 24h −0.057%

Price spread now: GRVT against Deribit−0.154%7-day average +0.043% · 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−$58as in the Price arb table

costs, in and out, $10k−$380.378% of the position

Long on Deribit Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.085%−$9 on $10k

Price spread, last 3 days (all we have)+0.115%+$12 · spread now −0.154%, 7d avg +0.043%

Together, before fees+0.030%+ Points / potential airdropGRVT: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and GRVT is 0.198% cheaper against Deribit than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of +0.043%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid -0.085% in total (about -6.8% 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	Deribit INTC_USDC-PERPETUAL	123.16	0.0319	pay 0.0040% / 1h	28m 59s	$21K	$180K	10x
Short	GRVT INTC_USDT_Perp	122.97	0.0009	get 0.0009% / 8h	1h 28m	$921K	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Deribit. 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 DeribitbpFee GRVTbpOrdersPrice spread, now −0.154%Rate

Funding earned: −$65.03
Price spread: −0.154% → +0.043%: −$19.76
Slippage, 4 orders: −$21.83
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$122.63
Costs to cover: 0.378%
Break-even: never at this rate

Slippage from Deribit: live order book, 54 min ago; GRVT: live order book, 4 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 Deribit live order book, 54 min ago	5.33 bp	8.8 bp −$9	13.1 bp −$131	doesn't fit	doesn't fit
Sell GRVT live order book, 4 min ago	1.63 bp	9.9 bp −$10	13.7 bp −$137	doesn't fit	doesn't fit

INTC on 33 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
Aster INTCUSDT	0.0000%	8h	123.11	−0.041%	$307K	$505K	20x	as long as short
OKX INTC-USDT-SWAP	0.0000%	8h	123.22	+0.049%	$18.6M	$69.3M	25x	as long as short
Gate INTC_USDT	0.0000%	8h	123.20	+0.032%	$9.1M	$32.1M	75x	as long as short
Phemex INTCUSDT	0.0000%	8h	123.22	+0.049%	$1.7M	$51K	10x	as long as short
GRVT INTC_USDT_Perpshort	+0.0009%	8h	122.97	−0.154%	$921K	$1.5M	10x
Bybit INTCUSDT	+0.0027%	8h	123.25	+0.073%	$13.5M	$29.1M	50x	as long as short
Lighter RH INTC	+0.0032%	1h	123.21	+0.041%	$603K	$3.0M	10x	as long as short
Injective INTC/USDC PERP	+0.0033%	1h	121.34	−1.478%	$213	$23K	12x	as long as short
Aftermath Perps INTCUSD	+0.0042%	1h	122.96	−0.159%	$2K	$53K	10x	as long as short
Variational Omni INTC	+0.0042%	8h	122.98	−0.146%	$2.1M	$2.4M	—	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest INTC-USD-PERP	+0.0046%	1h	123.22	+0.049%	—	$1.5M	25x	as long as short
Ondo Perps INTC-USD.P	+0.0050%	1h	123.03	−0.106%	$1.3M	$2.2M	10x	as long as short
QFEX INTC-USD	+0.0060%	1h	123.13	−0.024%	$1.9M	$15.1M	10x	as long as short
SoDEX INTC-USD	+0.0061%	1h	123.14	−0.012%	$27K	$4K	10x	as long as short
Nado INTC-PERP	+0.0064%	1h	123.00	−0.133%	$169K	$236K	10x	as long as short
Coinbase International INTC-PERP-INTX	+0.0064%	1h	122.29	−0.706%	$271K	$1.2M	10x	as long as short
Binance INTCUSDT	+0.0085%	8h	123.24	+0.065%	$72.1M	$411.0M	25x	as long as short
Extended INTC_24_5-USD	+0.0088%	1h	123.24	+0.063%	$339K	$1.1M	10x	as long as short
Paradex INTC-USD-PERP	+0.0095%	8h	123.08	−0.064%	—	—	5x	as long as short
ApeX Omni INTCUSDT	+0.0100%	1h	123.15	−0.008%	$45K	$259K	50x	as long as short
Orderly PERP_INTC_USDC_mythos	+0.0100%	8h	123.10	−0.049%	$4K	$3K	10x	as long as short
Aevo INTC-PERP	+0.0104%	1h	123.20	+0.032%	$50K	—	10x	as long as short
Polymarket Perps INTC-USD	+0.0107%	1h	123.14	−0.016%	$206K	$432K	10x	as long as short
KuCoin INTCUSDTM	+0.0165%	8h	123.14	−0.016%	$1.2M	$59K	20x	as long as short
BloFin INTC-USDT	+0.0205%	8h	123.20	+0.032%	$904K	$323K	25x	as long as short
Bitget INTCUSDT	+0.0227%	8h	123.27	+0.089%	$25.5M	$34.3M	50x	as long as short
tradeXYZ xyz:INTC	+0.0230%	1h	123.21	+0.041%	$145.7M	$80.3M	10x	as long as short
RISEx INTC/USDC	+0.0257%	1h	123.15	−0.009%	$331K	$366K	10x	as long as short
Phoenix INTC	+0.0262%	1h	123.05	−0.089%	$47K	$256K	10x	as long as short
Deribit INTC_USDC-PERPETUALlong	+0.0319%	1h	123.16	long leg	$21K	$180K	10x
Lighter INTC	+0.0360%	1h	123.26	+0.081%	$1.5M	$1.9M	10x	as long as short
edgeX INTCUSDC	+0.0668%	4h	123.18	+0.020%	$87K	$288K	10x	as long as short
Arcus INTC-USD	+0.0693%	1h	123.12	−0.032%	$108K	$298K	10x	as long as short