Funding arb · Price arb /

IWM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.044%

Price spread now: GRVT against Bybit+0.086%7-day average +0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs−$101as in the Price arb table

costs, in and out, $10k−$1041.035% of the position

Long on Bybit Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.076%+$8 on $10k

Price spread, last 4 days (all we have)−0.050%−$5 · spread now +0.086%, 7d avg +0.064%

Together, before fees+0.026%+ Points / potential airdropGRVT: Active · farm board+$3 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: GRVT is 0.021% dearer against Bybit than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit IWMUSDT	284.81	0	get 0.0000% / 8h	7h 45m	$560K	$70K	25x
Short	GRVT IWM_USDT_Perp	285.05	0	get 0.0000% / 8h	7h 45m	$687	$101K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Bybit. 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 BybitbpFee GRVTbpOrdersPrice spread, now +0.086%Rate

Funding earned: $0
Price spread: +0.086% → +0.064%: $2.15
Slippage, 4 orders: −$83.51
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$101.36
Costs to cover: 1.035%
Break-even: never at this rate

Slippage from Bybit: live order book, 45 min ago; GRVT: live order book, 47 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 Bybit live order book, 45 min ago	3.68 bp	33.3 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 47 min ago	1.92 bp	17.7 bp −$18	doesn't fit	doesn't fit	doesn't fit

IWM on 17 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 IWMUSDT	0.0000%	8h	284.83	+0.006%	$2K	$221	20x	as long as short
Bybit IWMUSDTlong	0.0000%	8h	284.81	long leg	$560K	$70K	25x
OKX IWM-USDT-SWAP	0.0000%	8h	284.96	+0.053%	$437K	$158K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	285.01	+0.070%	$601K	$162K	20x	as long as short
Bitget IWMUSDT	0.0000%	8h	284.92	+0.039%	$441K	$15K	20x	as long as short
Variational Omni IWM	0.0000%	8h	284.92	+0.040%	$169K	$217K	—	as long as short
GRVT IWM_USDT_Perpshort	0.0000%	8h	285.05	+0.086%	$687	$101K	10x
SunX IWM-USDT	0.0000%	8h	285.07	+0.091%	$770	$461K	10x	as long as short
HTX IWM-USDT	0.0000%	8h	284.85	+0.014%	$595	$38K	20x	as long as short
Phemex IWMUSDT	0.0000%	8h	285.07	+0.091%	$764K	$84K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter IWM	+0.0032%	1h	285.00	+0.067%	$74K	$19K	10x	as long as short
Markets by Kinetiq mkts:SMALL2000	+0.0046%	1h	284.71	−0.035%	$564K	$358K	20x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	284.74	−0.025%	—	$1K	25x	as long as short
BloFin IWM-USDT	+0.0063%	8h	285.00	+0.067%	$67K	$33K	20x	as long as short
Binance IWMUSDT	+0.0080%	8h	285.04	+0.082%	$1.1M	$1.2M	20x	as long as short
MEXC IWM_USDT	+0.0081%	8h	284.96	+0.053%	$880K	$83K	50x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	285.04	+0.081%	$141K	$910K	20x	as long as short