Funding arb · Price arb /

ORCL

RWAall ORCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0219%/8h= +24.0% APRpaid last 24h −0.010%

Price spread now: GRVT against Lighter+0.009%48s7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as 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−$570.572% of the position

Long on Lighter Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.125%−$12 on $10k

Price spread, last 3 days (all we have)+0.082%+$8 · spread now +0.009%, 7d avg −0.013%

Together, before fees−0.043%+ Points / potential airdropLighter: Season 3 · GRVT: Active · farm board−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and GRVT is 0.022% dearer against Lighter than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.013%. Mind the row above: over the last 7 days funding on this pair cost −0.125%, so the current rate has only just turned in your favour. The two prices were read 48 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 -0.125% in total (about -6.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ORCL	149.42	0.0032	pay 0.0004% / 1h	54m 43s	$473K	$50K	10x
Short	GRVT ORCL_USDT_Perp	149.43	0.0251	get 0.0251% / 8h	7h 54m	$1K	$192K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Lighter. 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 LighterbpFee GRVTbpOrdersPrice spread, now +0.009%Rate

Funding earned: $45.99
Price spread: +0.009% → −0.013%: $2.16
Slippage, 4 orders: −$48.19
Fee Lighter: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$9.04
Costs to cover: 0.572%
Break-even: 8.4 days

Slippage from Lighter: live order book, 10 min ago; GRVT: live order book, 13 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 Lighter live order book, 10 min ago	4.01 bp	16.9 bp −$17	19.2 bp −$192	doesn't fit	doesn't fit
Sell GRVT live order book, 13 min ago	2.68 bp	10.2 bp −$10	16.8 bp −$168	doesn't fit	doesn't fit

ORCL on 28 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
edgeX ORCLUSDC	−0.0373%	4h	149.39	−0.020%	$28K	$213K	10x	as long as short
Aster ORCLUSDT	0.0000%	8h	149.40	−0.014%	$94K	$16K	20x	as long as short
Gate ORCL_USDT	0.0000%	8h	149.36	−0.040%	$2.3M	$2.9M	25x	as long as short
SunX ORCL-USDT	0.0000%	8h	149.66	+0.161%	$2K	$2.8M	10x	as long as short
HTX ORCL-USDT	0.0000%	8h	149.45	+0.020%	$52K	$22K	20x	as long as short
Nado ORCL-PERP	+0.0027%	1h	149.29	−0.090%	$92K	$18K	10x	as long as short
Lighter ORCLlong	+0.0032%	1h	149.42	long leg	$473K	$50K	10x
Injective ORCL/USDC PERP	+0.0033%	1h	149.06	−0.241%	$20K	$12K	12x	as long as short
Lighter RH ORCL	+0.0040%	1h	149.29	−0.087%	$621K	$323K	10x	as long as short
Vest ORCL-USD-PERP	+0.0046%	1h	149.35	−0.047%	—	$127K	25x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX ORCL-USD	+0.0050%	1h	149.31	−0.074%	$30K	$3K	10x	as long as short
Ondo Perps ORCL-USD.P	+0.0050%	1h	149.16	−0.174%	$696K	$713K	10x	as long as short
QFEX ORCL-USD	+0.0075%	1h	149.24	−0.120%	$1.1M	$2.9M	10x	as long as short
Orderly PERP_ORCL_USDC_mythos	+0.0100%	8h	149.35	−0.047%	$190	—	10x	as long as short
Variational Omni ORCL	+0.0136%	8h	149.42	0.000%	$1.3M	$363K	—	as long as short
Binance ORCLUSDT	+0.0192%	8h	149.26	−0.107%	$25.1M	$35.2M	20x	as long as short
Extended ORCL_24_5-USD	+0.0192%	1h	149.28	−0.097%	$386K	$1.4M	10x	as long as short
GRVT ORCL_USDT_Perpshort	+0.0251%	8h	149.43	+0.009%	$1K	$192K	10x
KuCoin ORCLUSDTM	+0.0276%	8h	149.51	+0.060%	$261K	$250K	20x	as long as short
OKX ORCL-USDT-SWAP	+0.0317%	8h	149.31	−0.074%	$4.8M	$5.5M	20x	as long as short
Polymarket Perps ORCL-USD	+0.0371%	1h	149.28	−0.094%	$131K	$98K	10x	as long as short
Bitget ORCLUSDT	+0.0397%	8h	149.36	−0.040%	$7.6M	$4.2M	20x	as long as short
tradeXYZ xyz:ORCL	+0.0456%	1h	149.16	−0.174%	$21.5M	$7.0M	10x	as long as short
Arcus ORCL-USD	+0.0467%	1h	149.27	−0.100%	$86K	$79K	10x	as long as short
ApeX Omni ORACLEUSDT	+0.0479%	1h	149.42	0.000%	$22K	$266K	50x	as long as short
Phoenix ORCL	+0.0538%	1h	149.30	−0.080%	$150K	$84K	10x	as long as short
Bybit ORCLUSDT	+0.0687%	8h	149.37	−0.033%	$3.5M	$1.5M	50x	as long as short
BloFin ORCL-USDT	+0.0740%	8h	149.43	+0.007%	$47K	$51K	20x	as long as short