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Funding arb · Price arb /

NVO

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 16:00 UTC+0.0762%/8h= +83.4% APRnext payment +$7.62 per $10,000 · paid last 24h +0.076%
Price spread now: GRVT against Bybit+0.170%100s7-day average −0.023% · you sell dearer than you buy
Net, funding: paid 7d − costs−$257as 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−$2702.703% of the position
Long on BybitShort on GRVT
What this pair did over the last
the charts below follow
Funding, last 7 days+0.129%+$13 on $10k
Price spread, last 4 days (all we have)−0.171%−$17 · spread now +0.170%, 7d avg −0.023%
Together, before fees−0.042%+ Points / potential airdropGRVT: Active · farm board−$4 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$23 a day on $10k at the current rate, and GRVT is 0.193% dearer against Bybit than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of −0.023%. The two prices were read 100 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.129% in total (about 6.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$7.62 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit NVOUSDT39.5900get 0.0000% / 8h6h 55m$724K$363K25x
ShortGRVT NVO_USDT_Perp39.6570.0762get 0.0762% / 8h6h 55m$239$199K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

GRVT against Bybit. 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

Funding earned
$160.02
Price spread: +0.170% → −0.023%
$19.3
Slippage, 4 orders
−$250.3
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee GRVT: 4.5 bp × 2 orders
−$9
Net
−$90.98
Costs to cover
2.703%
Break-even
11.0 days
Slippage from Bybit: live order book, 34 min ago; GRVT: live order book, 36 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bybit live order book, 34 min ago6.36 bp75.6 bp −$76doesn't fitdoesn't fitdoesn't fit
Sell GRVT live order book, 36 min ago5.08 bp53.4 bp −$53103.8 bp −$1,038doesn't fitdoesn't fit

NVO on 11 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster NVOUSDT0.0000%8h39.565−0.064%$3K$7K20xas long as short
Bybit NVOUSDTlong0.0000%8h39.590long leg$724K$363K25x
QFEX NVO-USD0.0000%1h39.510−0.202%$1.1M$1.5M10xas long as short
Gate NVO_USDT0.0000%8h39.620+0.076%$858K$711K20xas long as short
SunX NVO-USDT0.0000%8h39.600+0.025%$1K$755K10xas long as short
HTX NVO-USDT0.0000%8h39.630+0.101%$10K$16K10xas long as short
Injective NVO/USDC PERP+0.0033%1h42.250+6.719%$2K$412xas long as short
KuCoin NVOUSDTM+0.0100%8h39.570−0.051%$111K$310K10xas long as short
Variational Omni NVO+0.0471%8h39.577−0.032%$66K$39K—as long as short
Binance NVOUSDT+0.0477%8h39.584−0.014%$2.2M$3.3M20xas long as short
Show all 11 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GRVT NVO_USDT_Perpshort+0.0762%8h39.657+0.170%$239$199K10x