Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.024%

Price spread now: Bybit against GRVT−0.030%100s7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as 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−$360.357% of the position

Long on GRVT Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.024%+$2 on $10k

Price spread, last 3 days (all we have)+0.067%+$7 · spread now −0.030%, 7d avg +0.004%

Together, before fees+0.091%+ Points / potential airdropGRVT: Active · farm board+$9 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 0.034% cheaper against GRVT than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.004%. The two prices were read 100 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 META_USDT_Perp	742.26	0	get 0.0000% / 8h	1h 09m	$12K	$499K	10x
Short	Bybit METAUSDT	742.04	0	get 0.0000% / 8h	1h 09m	$7.5M	$14.0M	100x

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 −0.030%Rate

Funding earned: $0
Price spread: −0.030% → +0.004%: −$3.37
Slippage, 4 orders: −$15.73
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$39.09
Costs to cover: 0.357%
Break-even: never at this rate

Slippage from GRVT: live order book, 8 min ago; Bybit: live order book, 3 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, 8 min ago	0.88 bp	6.9 bp −$7	11.5 bp −$115	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.40 bp	10.9 bp −$11	19.5 bp −$195	doesn't fit	doesn't fit

META on 36 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
BloFin META-USDT	−0.0120%	8h	742.31	+0.006%	$327K	$1.1M	20x	as long as short
Nado META-PERP	−0.0060%	1h	741.92	−0.047%	$392K	$328K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.76	−0.068%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.97	−0.040%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.12	−0.019%	$27.2M	$178.9M	20x	as long as short
Bybit METAUSDTshort	0.0000%	8h	742.04	−0.030%	$7.5M	$14.0M	100x
OKX META-USDT-SWAP	0.0000%	8h	742.25	−0.002%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.68	−0.079%	$345K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.05	−0.029%	$5.8M	$11.1M	100x	as long as short
Variational Omni META	0.0000%	8h	742.23	−0.005%	$2.1M	$3.1M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perplong	0.0000%	8h	742.26	long leg	$12K	$499K	10x
SunX META-USDT	0.0000%	8h	742.23	−0.004%	$1K	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.61	−0.088%	$30K	$256K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.14	−0.017%	$107K	$286K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.33	+0.009%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0003%	1h	742.12	−0.019%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	742.13	−0.018%	$752K	$3.2M	20x	as long as short
Hotstuff META-PERP	+0.0032%	1h	742.26	0.000%	$33K	$105	20x	as long as short
Arcus META-USD	+0.0040%	1h	741.89	−0.050%	$110K	$481K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.48	+0.029%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.38	+0.016%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.34	+0.010%	$542K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.12	−0.019%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.76	−0.068%	$723K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0052%	8h	742.16	−0.014%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0057%	1h	742.65	+0.051%	$50K	$66K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	742.12	−0.019%	$606K	$7.4M	10x	as long as short
Phoenix META	+0.0065%	1h	741.31	−0.128%	$291K	$791K	20x	as long as short
Lighter META	+0.0096%	1h	742.17	−0.013%	$863K	$2.5M	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.95	−0.042%	$1.6M	$368K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.41	−0.115%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.33	+0.009%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.23	−0.005%	$267	—	10x	as long as short
tradeXYZ xyz:META	+0.0129%	1h	742.17	−0.013%	$67.3M	$122.0M	20x	as long as short
edgeX METAUSDC	+0.0187%	4h	741.98	−0.038%	$62K	$330K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.81	−0.061%	$169K	$46K	30x	as long as short