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: OKX against GRVT−0.034%51s7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as 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−$580.577% of the position

Long on GRVT Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.051%−$5 on $10k

Price spread, last 4 days (all we have)+0.014%+$1 · spread now −0.034%, 7d avg +0.002%

Together, before fees−0.037%+ Points / potential airdropGRVT: Active · farm board−$4 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: OKX is 0.037% cheaper against GRVT than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.002%. The two prices were read 51 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 IWM_USDT_Perp	284.90	0	get 0.0000% / 8h	7h 32m	$1K	$101K	10x
Short	OKX IWM-USDT-SWAP	284.80	0	get 0.0000% / 8h	7h 32m	$436K	$158K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.034%Rate

Funding earned: $0
Price spread: −0.034% → +0.002%: −$3.65
Slippage, 4 orders: −$38.74
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$61.39
Costs to cover: 0.577%
Break-even: never at this rate

Slippage from GRVT: live order book, 59 min ago; OKX: live order book, 63 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, 59 min ago	1.92 bp	10.2 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 63 min ago	7.00 bp	12.5 bp −$12	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	284.71	−0.067%	$2K	$221	20x	as long as short
Bybit IWMUSDT	0.0000%	8h	284.64	−0.090%	$564K	$73K	25x	as long as short
OKX IWM-USDT-SWAPshort	0.0000%	8h	284.80	−0.034%	$436K	$158K	20x
Gate IWM_USDT	0.0000%	8h	284.91	+0.004%	$601K	$164K	20x	as long as short
Bitget IWMUSDT	0.0000%	8h	284.71	−0.066%	$440K	$16K	20x	as long as short
Variational Omni IWM	0.0000%	8h	284.87	−0.009%	$169K	$217K	—	as long as short
GRVT IWM_USDT_Perplong	0.0000%	8h	284.90	long leg	$1K	$101K	10x
SunX IWM-USDT	0.0000%	8h	284.90	+0.001%	$960	$461K	10x	as long as short
HTX IWM-USDT	0.0000%	8h	285.04	+0.050%	$715	$38K	20x	as long as short
Phemex IWMUSDT	0.0000%	8h	284.96	+0.022%	$764K	$85K	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	284.83	−0.024%	$74K	$19K	10x	as long as short
BloFin IWM-USDT	+0.0041%	8h	284.95	+0.018%	$67K	$34K	20x	as long as short
Markets by Kinetiq mkts:SMALL2000	+0.0046%	1h	284.50	−0.139%	$564K	$359K	20x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	284.59	−0.108%	—	$1K	25x	as long as short
MEXC IWM_USDT	+0.0069%	8h	284.77	−0.045%	$880K	$84K	50x	as long as short
Binance IWMUSDT	+0.0070%	8h	284.89	−0.003%	$1.1M	$1.2M	20x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	284.79	−0.038%	$141K	$922K	20x	as long as short