Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 149.17 | +0.0050 | pay 0.0006% / 1h | 33m 26s | $451K | $23K | 10x | Long Backpack | |
| SHORT | 149.36 | 0 | 0.0000% / 8h | 5h 33m | $72K | $108K | 10x | Short GRVT |
Price gap+0.125%
Funding gap−0.0050% /8h
The gap pays +$4 on $10k if it goes back to its 7d average, but funding costs $2 a day and eats that in about 2.8 days. At the last 7 days' pace that is about 20 hours.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$35−0.0050% /8h now · paid −0.348% over the last 7D
Price+$4spread +0.125% now, avg +0.083% → +0.041% if it goes back
Costs−$260.264% of $10k · taker + slippage, in and out
Result−$57−0.57%+ Points / potential airdropGRVT: points · farm boardWhat the last 7D really paid, hour by hour → backtest
Price and funding
1h · historyEntry / Exit
Price spread
Prices
Fundingper 8h
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now+0.125%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hSPCX on 46 exchanges
lowest funding firstBefore you open
2 ok · 4 to watch- Watch: Large against open interest5.3 / 6.8 bp$10k is over 10% of GRVT’s open interest.
- Note: Margin at max leverage$1,000 + $1,000Backpack 10x, GRVT 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ1h / 8hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: −$1.50Long Backpack: 24 payments, −$1.50; short GRVT: 3 payments, $0.00.
- OK: Entry gap works for you+0.125% vs +0.083%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Short leg is thinner$72K vs $451K OIGRVT sets your exit cost. Check its book before closing.
- OK: Points on a legGRVT pointsVolume here counts toward the points program.
- Watch: KYCBackpack Yes · GRVT NoKYC (ID, face scan, residency and source of income) before any trading.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0165%/8h × 21 periods−$34.75
Price spread+0.125% → +0.083% (7d avg)+$4.14
Slippage, 4 orderslive order books−$7.43
Fee Backpack bp × 2 orders−$10.00
Fee GRVT bp × 2 orders−$9.00
Net · 7 days · $10k−$57.04
Costs to cover0.264%Break-evennever at this rate
Slippage: Backpack: live order book, 20 min ago; GRVT: live order book, 18 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGBackpack0.345.3 bp−$540.1 bp−$401doesn’t fitdoesn’t fit
SELL · SHORTGRVT1.346.8 bp−$712.0 bp−$120doesn’t fitdoesn’t fit
Closing costs about the same again.
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