Funding you earn now, next payment 02:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.066%
Price spread now: GRVT against Injective−0.052%7-day average +0.090% · you buy dearer than you sell
Net, funding: paid 7d − costs−$80as in the Funding arb table
Net, price: spread back to 7d avg − costs−$50as in the Price arb table
costs, in and out, $10k−$360.359% of the position
Funding, last 7 days−0.440%−$44 on $10k
+Price spread, last 3 days (all we have)+0.044%+$4 · spread now −0.052%, 7d avg +0.090%
=Together, before fees−0.396%+ Points / potential airdropGRVT: Active · farm board−$40 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and GRVT is 0.142% cheaper against Injective than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.090%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective MSFT/USDC PERP | 501.78 | 0.0220 | pay 0.0028% / 1h | 25m 14s | $115K | $45K | 30x |
| Short | GRVT MSFT_USDT_Perp | 501.52 | 0 | get 0.0000% / 8h | 6h 25m | $18K | $295K | 10x |
Injective MSFT/USDC PERP
GRVT MSFT_USDT_PerpFunding history
latest
Range statsloading…
Price spread between the two exchanges
GRVT against Injective. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$46.2
- Price spread: −0.052% → +0.090%
- −$14.17
- Slippage, 4 orders
- −$26.85
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Net
- −$96.24
- Costs to cover
- 0.359%
- Break-even
- never at this rate
Slippage from Injective: live order book, 43 min ago; GRVT: live order book, 42 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 Injective live order book, 43 min ago | 9.98 bp | 10.0 bp −$10 | 10.0 bp −$100 | 65080.0 bp −$6.51M | 365399.3 bp −$182.70M |
| Sell GRVT live order book, 42 min ago | 1.20 bp | 7.8 bp −$8 | 15.1 bp −$151 | doesn't fit | doesn't fit |
MSFT 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International MSFT-PERP-INTX | −0.0016% | 1h | 500.87 | −0.181% | $684K | $451K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.51 | −0.054% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.50 | −0.055% | $337K | $899K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.65 | −0.026% | $15.6M | $18.8M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.51 | −0.054% | $7.4M | $1.6M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.68 | −0.020% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.43 | −0.070% | $3.1M | $1.6M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.44 | −0.068% | $4.5M | $2.5M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.54 | −0.048% | $1.3M | $682K | — | as long as short |
| GRVT MSFT_USDT_Perpshort | 0.0000% | 8h | 501.52 | −0.052% | $18K | $295K | 10x |
Coinbase International MSFT-PERP-INTX
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFTShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX MSFT-USDT | 0.0000% | 8h | 502.39 | +0.122% | $6K | $4.1M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.47 | −0.062% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.66 | −0.024% | $2.2M | $765K | 10x | as long as short |
| Nado MSFT-PERP | +0.0008% | 1h | 501.26 | −0.105% | $414K | $64K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.42 | −0.072% | $618K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0038% | 1h | 501.46 | −0.064% | $1.1M | $5.8M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.35 | −0.086% | $97K | $109K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.34 | −0.088% | — | $1K | 25x | as long as short |
| Hotstuff MSFT-PERP | +0.0048% | 1h | 501.14 | −0.128% | $32K | $8K | 20x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 501.13 | −0.130% | $22.1M | $9.2M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.23 | −0.110% | $303K | $671K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.49 | −0.058% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.15 | −0.126% | $521K | $518K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0055% | 8h | 501.47 | −0.062% | $221 | — | 5x | as long as short |
| Phoenix MSFT | +0.0080% | 1h | 501.33 | −0.090% | $10K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.15 | −0.126% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.07 | −0.141% | $159K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.43 | −0.070% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.49 | −0.057% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0176% | 1h | 501.69 | −0.018% | $1.1M | $489K | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | +0.0209% | 1h | 501.43 | −0.070% | $27K | $41K | 10x | as long as short |
| Injective MSFT/USDC PERPlong | +0.0220% | 1h | 501.78 | long leg | $115K | $45K | 30x | |
| edgeX MSFTUSDC | +0.0992% | 4h | 501.51 | −0.055% | $102K | $242K | 10x | as long as short |
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
Nado MSFT-PERP
Lighter RH MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
Hotstuff MSFT-PERP
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Phoenix MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Lighter MSFT
Deribit MSFT_USDC-PERPETUAL
edgeX MSFTUSDC