Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0026%/8h= +2.8% APRpaid last 24h −0.011%

Price spread now: Bitget against Aevo−0.028%7-day average +0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$450.446% of the position

Long on Aevo Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.021%+$2 on $10k

Price spread, last 3 days (all we have)+0.188%+$19 · spread now −0.028%, 7d avg +0.060%

Together, before fees+0.209%+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.088% cheaper against Aevo than usual: you would sell low and buy high (spread −0.028% now, against its 7-day average of +0.060%). If the spread goes back, that is −$9 on $10k: about 11 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.021% in total) that is about 29 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo ETH-PERP	2,782.2	0.0048	pay 0.0006% / 1h	15m 32s	$5.0M	$652K	20x
Short	Bitget ETHUSDT	2,781.5	0.0074	get 0.0074% / 8h	3h 15m	$2.10B	$3.17B	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Aevo. 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 AevobpFee BitgetbpOrdersPrice spread, now −0.028%Rate

Funding earned: $5.46
Price spread: −0.028% → +0.060%: −$8.77
Slippage, 4 orders: −$16.55
Fee Aevo: 8 bp × 2 orders: −$16
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$47.86
Costs to cover: 0.446%
Break-even: 68.4 days

Slippage from Aevo: live order book, 4 min ago; Bitget: live order book, 4 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 Aevo live order book, 4 min ago	4.27 bp	12.3 bp −$12	31.7 bp −$317	67.3 bp −$6,726	doesn't fit
Sell Bitget live order book, 4 min ago	0.02 bp	6.0 bp −$6	6.0 bp −$60	7.3 bp −$730	9.9 bp −$4,944

ETH on 55 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
Perpl ETH	−0.0447%	43m	2,784.7	+0.089%	$292K	$6.9M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,781.5	−0.027%	$5K	$2K	50x	as long as short
Phoenix ETH	−0.0032%	1h	2,785.7	+0.124%	$796K	$3.5M	25x	as long as short
RISEx ETH/USDC	−0.0005%	1h	2,781.9	−0.012%	$5.8M	$12.2M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,785.7	+0.125%	$13.5M	$44.8M	50x	as long as short
Injective ETH/USDC PERP	+0.0003%	1h	2,787.8	+0.200%	$120K	$22.5M	52x	as long as short
Phemex ETHUSDT	+0.0004%	8h	2,785.4	+0.113%	$268.5M	$66.6M	150x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,784.7	+0.087%	$22.5M	—	200x	as long as short
01 Exchange ETHUSD	+0.0008%	1h	2,781.9	−0.012%	$174K	$1.2M	50x	as long as short
BingX ETH-USDT	+0.0018%	8h	2,781.3	−0.035%	—	$1.19B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0023%	8h	2,779.5	−0.100%	$1.70B	$11.95B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0026% / S +0.0010%	1h	2,784.5	+0.082%	$13.0M	—	200x	as long as short
MEXC ETH_USDT	+0.0047%	8h	2,784	+0.061%	$1.58B	$2.61B	500x	as long as short
Binance ETHUSDT	+0.0048%	8h	2,781.5	−0.026%	$6.48B	$17.29B	150x	as long as short
Aevo ETH-PERPlong	+0.0048%	1h	2,782.2	long leg	$5.0M	$652K	20x
Aftermath Perps ETHUSD	+0.0059%	1h	2,789.3	+0.254%	$29K	$22K	20x	as long as short
Gate ETH_USDT	+0.0059%	8h	2,782.5	+0.009%	$3.31B	$9.64B	200x	as long as short
Aster ETHUSDT	+0.0062%	8h	2,783.9	+0.061%	$257.9M	$1.00B	200x	as long as short
Bitget ETHUSDTshort	+0.0074%	8h	2,781.5	−0.028%	$2.10B	$3.17B	150x
Bulk ETH-USD	+0.0080%	1h	2,788.7	+0.233%	$165.6M	$263.4M	25x	as long as short
Lighter ETH	+0.0096%	1h	2,784.4	+0.079%	$116.1M	$521.5M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,786.8	+0.162%	$25.7M	$125.7M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,785.1	+0.104%	—	$48.1M	500x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,787.1	+0.176%	$16.0M	$11.2M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,782.2	−0.001%	$494K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,784.4	+0.079%	$16.9M	$114.9M	50x	as long as short
Pacifica ETH	+0.0100%	1h	2,784.9	+0.094%	$31.5M	$276.8M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,779.6	−0.095%	$2.52B	$4.65B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,782.2	−0.001%	$2.9M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,783.5	+0.047%	$2.9M	$17.6M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,784.4	+0.079%	$429.4M	$747.9M	100x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,785.2	+0.107%	$15.5M	$42.4M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,784.1	+0.069%	$142.1M	$318.1M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,785.2	+0.106%	$178.1M	$783.7M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,784.9	+0.095%	$162.0M	$98.1M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,784.7	+0.087%	$10.6M	$30.6M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,784.3	+0.074%	$21.5M	$57.6M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,784.8	+0.092%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,785.6	+0.121%	$10.9M	$8.0M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,788.4	+0.220%	$191K	$1.8M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,785.1	+0.104%	$21K	$25K	25x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,783.7	+0.054%	$976K	$14.4M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,784.2	+0.070%	$55.4M	$228.5M	40x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,784.6	+0.085%	$1.08B	$1.31B	200x	as long as short
Extended ETH-USD	+0.0104%	1h	2,780.9	−0.049%	$31.6M	$76.8M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,786.2	+0.143%	$60.3M	$4.69B	50x	as long as short
Orderly PERP_ETH_USDC	+0.0122%	8h	2,787.6	+0.192%	$32.7M	$11.5M	100x	as long as short
Kalshi KXETHPERP	+0.0123%	8h	2,785.3	+0.110%	$8.6M	$668.0M	4.9x	as long as short
Derive ETH-PERP	+0.0134%	1h	2,787	+0.173%	$43.2M	$29.8M	15x	as long as short
Kraken Futures PF_ETHUSD	+0.0135%	1h	2,785.9	+0.133%	$88.8M	$337.4M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0149%	1h	2,786.3	+0.146%	$259.1M	$223.4M	50x	as long as short
BloFin ETH-USDT	+0.0168%	8h	2,783.7	+0.052%	$287.8M	$197.6M	150x	as long as short
Hyperliquid ETH	+0.0168%	1h	2,787.7	+0.196%	$3.24B	$2.37B	25x	as long as short
Reya ETHRUSDPERP	+0.0203%	1h	2,782.8	+0.020%	$7.5M	$992K	25x	as long as short
Hibachi ETH/USDT-P	+0.0272%	1h	2,788.1	+0.212%	$275K	$1.6M	20x	as long as short