Funding arb · Price arb /

EIGEN

all EIGEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.031%

Price spread now: Coinbase International against Bybit−0.012%7-day average +0.070% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$820.824% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.104%+$10 on $10k

Price spread, last 3 days (all we have)+0.065%+$6 · spread now −0.012%, 7d avg +0.070%

Together, before fees+0.169%+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.082% cheaper against Bybit than usual: you would sell low and buy high (spread −0.012% now, against its 7-day average of +0.070%). If the spread goes back, that is −$8 on $10k: about 2.7 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.104% in total) that is about 5.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit EIGENUSDT	0.2407	0.0100	pay 0.0050% / 4h	1h 39m	$9.6M	$7.9M	50x
Short	Coinbase International EIGEN-PERP-INTX	0.2407	0.0200	get 0.0025% / 1h	39m 47s	$42K	$161K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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

Position, each leg$Hold fordaysFee BybitbpFee Coinbase InternationalbpOrdersPrice spread, now −0.012%Rate

Funding earned: $21
Price spread: −0.012% → +0.070%: −$8.2
Slippage, 4 orders: −$61.35
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$69.55
Costs to cover: 0.824%
Break-even: 30.2 days

Slippage from Bybit: live order book, 3 min ago; Coinbase International: live order book, 43 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 Bybit live order book, 3 min ago	2.07 bp	19.0 bp −$19	46.1 bp −$461	doesn't fit	doesn't fit
Sell Coinbase International live order book, 43 min ago	0.21 bp	13.1 bp −$13	doesn't fit	doesn't fit	doesn't fit

EIGEN on 26 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
01 Exchange EIGENUSD	−0.0112%	1h	0.2405	−0.083%	$816	$5K	10x	as long as short
dYdX EIGEN-USD	0.0000%	1h	0.2407	−0.011%	$3K	—	5x	as long as short
Deribit EIGEN_USDC-PERPETUAL	0.0000%	1h	0.2407	−0.012%	—	$86	10x	as long as short
Injective EIGEN/USDC PERP	+0.0033%	1h	0.2438	+1.288%	$6	$6	5.5x	as long as short
BloFin EIGEN-USDT	+0.0085%	4h	0.2407	0.000%	$346K	$138K	75x	as long as short
Lighter EIGEN	+0.0096%	1h	0.2409	+0.100%	$541K	$431K	5x	as long as short
Nado EIGEN-PERP	+0.0100%	1h	0.2404	−0.104%	$28K	$17K	3x	as long as short
Hyperliquid EIGEN	+0.0100%	1h	0.2413	+0.249%	$4.7M	$1.5M	5x	as long as short
Aster EIGENUSDT	+0.0100%	4h	0.2408	+0.036%	$44K	$29K	5x	as long as short
Binance EIGENUSDT	+0.0100%	4h	0.2407	−0.003%	$8.2M	$20.1M	75x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit EIGENUSDTlong	+0.0100%	4h	0.2407	long leg	$9.6M	$7.9M	50x
OKX EIGEN-USDT-SWAP	+0.0100%	4h	0.2407	0.000%	$1.6M	$5.0M	20x	as long as short
Gate EIGEN_USDT	+0.0100%	4h	0.2406	−0.042%	$721K	$636K	50x	as long as short
MEXC EIGEN_USDT	+0.0100%	4h	0.2407	0.000%	$8.7M	$2.2M	125x	as long as short
KuCoin EIGENUSDTM	+0.0100%	4h	0.2407	0.000%	$2.3M	$10.8M	50x	as long as short
Bitget EIGENUSDT	+0.0100%	4h	0.2406	−0.042%	$1.9M	$1.4M	75x	as long as short
BingX EIGEN-USDT	+0.0100%	4h	0.2407	0.000%	—	$1.6M	—	as long as short
Variational Omni EIGEN	+0.0100%	4h	0.2406	−0.032%	$200K	$152K	—	as long as short
GRVT EIGEN_USDT_Perp	+0.0100%	4h	0.2400	−0.290%	$191K	$2.1M	10x	as long as short
ApeX Omni EIGENUSDT	+0.0100%	1h	0.2400	−0.291%	$35K	$236K	50x	as long as short
Orderly PERP_EIGEN_USDC_mythos	+0.0100%	4h	0.2406	−0.042%	$2K	$1K	10x	as long as short
Extended EIGEN-USD	+0.0104%	1h	0.2407	−0.002%	$91K	$496K	10x	as long as short
GMX EIGEN/USD [ETH-USDC]	L +0.0194% / S −0.0568%	1h	0.2407	−0.003%	$2K	—	100x	as long as short
Coinbase International EIGEN-PERP-INTXshort	+0.0200%	1h	0.2407	−0.012%	$42K	$161K	50x
Reya EIGENRUSDPERP	+0.0513%	1h	0.2408	+0.022%	$840	—	15x	as long as short
Kraken Futures PF_EIGENUSD	+0.0681%	1h	0.2409	+0.084%	$174K	$68K	20x	as long as short