Funding arb · Price arb /

NOW

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.012%

Price spread now: GRVT against Injective−1.398%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and GRVT is 1.398% cheaper against Injective than usual: you would sell low and buy high (−$140 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective NOW/USDC PERP	139.80	0.0033	pay 0.0004% / 1h	48m 57s	$3K	$101	12x
Short	GRVT NOW_USDT_Perp	137.85	0	get 0.0000% / 8h	48m 57s	$587	$169K	10x

Funding 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 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 InjectivebpFee GRVTbpOrdersPrice spread, now −1.398%Rate

Funding earned: −$7
Price spread: −1.398% → 0.000%: −$139.83
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$155.85
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; GRVT: live order book, 28 min ago. Net counts fees only.

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 no order-book sample	—	—	—	—	—
Sell GRVT live order book, 28 min ago	3.99 bp	19.9 bp −$20	doesn't fit	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

NOW 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
BloFin NOW-USDT	−0.0021%	8h	137.96	−1.316%	$45K	$17K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	137.71	−1.495%	$1.1M	$2.1M	10x	as long as short
Aster NOWUSDT	0.0000%	8h	137.87	−1.380%	$41K	$995	20x	as long as short
Binance NOWUSDT	0.0000%	8h	137.93	−1.334%	$1.6M	$1.3M	20x	as long as short
Bybit NOWUSDT	0.0000%	8h	137.88	−1.373%	$1.5M	$5.7M	25x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	137.87	−1.381%	$484K	$196K	20x	as long as short
Gate NOW_USDT	0.0000%	8h	137.88	−1.373%	$251K	$396K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.87	−1.381%	$762K	$275K	20x	as long as short
GRVT NOW_USDT_Perpshort	0.0000%	8h	137.85	−1.398%	$587	$169K	10x
SunX NOW-USDT	0.0000%	8h	137.85	−1.395%	$806	$437K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NOW-USDT	0.0000%	8h	137.89	−1.366%	$5K	$27K	20x	as long as short
Lighter NOW	+0.0032%	1h	137.84	−1.402%	$5K	$173	5x	as long as short
Injective NOW/USDC PERPlong	+0.0033%	1h	139.80	long leg	$3K	$101	12x
Vest NOW-USD-PERP	+0.0046%	1h	137.73	−1.481%	—	—	25x	as long as short
KuCoin NOWUSDTM	+0.0100%	8h	137.73	−1.481%	$317K	$714K	20x	as long as short
tradeXYZ xyz:NOW	+0.0288%	1h	137.87	−1.381%	$2.1M	$201K	10x	as long as short