Funding arb · Price arb /

NOK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: GRVT against Phemex+0.105%77s7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$195as 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−$1951.948% of the position

Long on Phemex Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.022%−$2 · spread now +0.105%, 7d avg +0.004%

Together, before fees−0.022%+ Points / potential airdropGRVT: Active · farm board−$2 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 0.101% dearer against Phemex than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.004%. The two prices were read 77 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	Phemex NOKUSDT	11.000	0	get 0.0000% / 8h	4h 18m	$1.6M	$544K	10x
Short	GRVT NOK_USDT_Perp	11.012	0	get 0.0000% / 8h	4h 18m	$3K	$146K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Phemex. 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 PhemexbpFee GRVTbpOrdersPrice spread, now +0.105%Rate

Funding earned: $0
Price spread: +0.105% → +0.004%: $10.06
Slippage, 4 orders: −$173.76
Fee Phemex: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$184.7
Costs to cover: 1.948%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; GRVT: live order book, 35 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 Phemex live order book, 5 min ago	4.54 bp	65.0 bp −$65	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 35 min ago	9.09 bp	13.6 bp −$14	110.4 bp −$1,104	doesn't fit	doesn't fit

NOK on 16 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 NOKUSDT	0.0000%	8h	11.017	+0.158%	$67K	$7K	20x	as long as short
Extended NOK-USD	0.0000%	1h	11.012	+0.106%	$37K	$168K	10x	as long as short
Binance NOKUSDT	0.0000%	8h	11.016	+0.147%	$7.5M	$9.0M	20x	as long as short
OKX NOK-USDT-SWAP	0.0000%	8h	11.022	+0.200%	$1.2M	$1.2M	20x	as long as short
Gate NOK_USDT	0.0000%	8h	11.028	+0.255%	$966K	$992K	50x	as long as short
MEXC NOKSTOCK_USDT	0.0000%	8h	11.010	+0.091%	$1.6M	$113K	50x	as long as short
Bitget NOKSTOCKUSDT	0.0000%	8h	11.028	+0.255%	$1.5M	$594K	20x	as long as short
Variational Omni NOK	0.0000%	8h	11.003	+0.027%	$137K	$113K	—	as long as short
GRVT NOK_USDT_Perpshort	0.0000%	8h	11.012	+0.105%	$3K	$146K	10x
SunX NOK-USDT	0.0000%	8h	11.010	+0.091%	$535	$1.4M	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NOK-USDT	0.0000%	8h	11.000	0.000%	$9K	$5K	10x	as long as short
Phemex NOKUSDTlong	0.0000%	8h	11.000	long leg	$1.6M	$544K	10x
Lighter NOK	+0.0032%	1h	11.009	+0.082%	—	—	10x	as long as short
Vest NOK-PERP	+0.0046%	1h	11.010	+0.091%	—	—	10x	as long as short
tradeXYZ xyz:NOK	+0.0050%	1h	11.016	+0.145%	$4.2M	$1.1M	10x	as long as short
KuCoin NOKUSDTM	+0.0100%	8h	11.010	+0.091%	$300K	$391K	20x	as long as short