Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 16.850 | +0.0748 | pay 0.0748% / 8h | 2h 28m | $6K | $121K | 10x | Long GRVT | |
| SHORT | 16.830 | 0 | 0.0000% / 1h | 28m 55s | $370K | $59K | 30x | Short QFEX |
Price gap−0.119%
Funding gap−0.0748% /8h
Both sides work against this direction now: funding costs $22 a day on $10k and the gap is 1.862% under its 7d average. Swap the legs.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$33−0.0748% /8h now · paid −0.330% over the last 5 days (all we have)
Price−$186spread −0.119% now, avg +1.743% → −1.862% if it goes back
Costs−$2052.051% of $10k · taker + slippage, in and out
Result−$424−4.24%+ Points / potential airdropGRVT: points · farm boardWhat the last 7D really paid, hour by hour → backtest
The current funding rate is far below what this pair has been paying: over the last 5 days it paid −0.330% in total, about −0.0227%/8h on average.
Price and funding
1h · loading 5m…Price spread
Prices
Fundingper 8h
P&L
PRICE SPREAD · 7D
Now−0.119%
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
/8hUVXY on 16 exchanges
lowest funding firstBefore you open
2 ok · 4 to watch- Watch: Thin at this size88.3 / 34.8 bpAt $10k entering GRVT costs 88.3 bp, fee and slippage, 2.5× QFEX’s.
- Note: Margin at max leverage$1,000 + $333GRVT 10x, QFEX 30x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ8h / 1hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: −$22.44Long GRVT: 3 payments, −$22.44; short QFEX: 24 payments, $0.00.
- Watch: Gap narrower than usual−0.119% vs +1.743%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Watch: Long leg is thinner$6K vs $370K OIGRVT sets your exit cost. Check its book before closing.
- OK: Points on a legGRVT pointsVolume here counts toward the points program.
- OK: No KYC on either legGRVT No · QFEX NoBoth exchanges let you trade without ID.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0227%/8h × 21 periods−$47.59
Price spread−0.119% → +1.743% (7d avg)−$186.17
Slippage, 4 orderslive order books−$186.14
Fee GRVT bp × 2 orders−$9.00
Fee QFEX bp × 2 orders−$10.00
Net · 7 days · $10k−$438.90
Costs to cover2.051%Break-evennever at this rate
Slippage: GRVT: live order book, 37 min ago; QFEX: live order book, 14 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGGRVT8.9488.3 bp−$88171.9 bp−$1,719doesn’t fitdoesn’t fit
SELL · SHORTQFEX5.9634.8 bp−$35doesn’t fitdoesn’t fitdoesn’t fit
Closing costs about the same again.