Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0124%/8h= +13.6% APRpaid last 24h +0.037%

Price spread now: BloFin against Aevo+0.270%53s7-day average +0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as 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−$520.523% of the position

Long on Aevo Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.229%+$23 on $10k

Price spread, last 3 days (all we have)−0.278%−$28 · spread now +0.270%, 7d avg +0.062%

Together, before fees−0.049%−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and BloFin is 0.208% dearer against Aevo than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of +0.062%. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo ETH-PERP	2,769.6	0.0040	pay 0.0005% / 1h	53m 39s	$5.0M	$636K	20x
Short	BloFin ETH-USDT	2,777.1	0.0164	get 0.0164% / 8h	2h 53m	$287.5M	$197.2M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.270%Rate

Funding earned: $26.03
Price spread: +0.270% → +0.062%: $20.78
Slippage, 4 orders: −$24.27
Fee Aevo: 8 bp × 2 orders: −$16
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$5.46
Costs to cover: 0.523%
Break-even: 8.5 days

Slippage from Aevo: live order book, 1 min ago; BloFin: live order book, 6 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, 1 min ago	5.14 bp	13.1 bp −$13	97.4 bp −$974	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	0.04 bp	6.1 bp −$6	6.1 bp −$61	6.3 bp −$635	7.2 bp −$3,615

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	2,773.1	+0.126%	$289K	$6.9M	8.3x	as long as short
ApeX Omni ETHUSDT	−0.0318%	1h	2,773.3	+0.133%	$10.5M	$30.9M	100x	as long as short
Injective ETH/USDC PERP	−0.0107%	1h	2,774.7	+0.185%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,772.1	+0.091%	$5K	$2K	50x	as long as short
01 Exchange ETHUSD	−0.0064%	1h	2,772.7	+0.113%	$172K	$1.2M	50x	as long as short
Phoenix ETH	−0.0032%	1h	2,776.7	+0.257%	$799K	$3.7M	25x	as long as short
RISEx ETH/USDC	−0.0011%	1h	2,773.8	+0.152%	$5.8M	$12.0M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,774.7	+0.183%	$12.9M	$45.3M	50x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,774.3	+0.170%	$259.0M	$223.4M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,772.8	+0.116%	$22.4M	—	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDC	+0.0017%	8h	2,772.9	+0.120%	—	$17.3M	—	as long as short
OKX ETH-USDT-SWAP	+0.0022%	8h	2,772.7	+0.111%	$1.70B	$11.91B	100x	as long as short
Phemex ETHUSDT	+0.0026%	8h	2,771.7	+0.077%	$266.7M	$66.0M	150x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0027% / S +0.0009%	1h	2,772.9	+0.121%	$13.0M	—	200x	as long as short
Aftermath Perps ETHUSD	+0.0031%	1h	2,778.6	+0.326%	$29K	$22K	20x	as long as short
Aevo ETH-PERPlong	+0.0040%	1h	2,769.6	long leg	$5.0M	$636K	20x
MEXC ETH_USDT	+0.0043%	8h	2,772.9	+0.121%	$1.61B	$2.62B	500x	as long as short
Binance ETHUSDT	+0.0044%	8h	2,772.9	+0.121%	$6.45B	$17.26B	150x	as long as short
Aster ETHUSDT	+0.0046%	8h	2,772.3	+0.099%	$256.2M	$997.7M	200x	as long as short
Gate ETH_USDT	+0.0054%	8h	2,773.3	+0.135%	$3.29B	$9.53B	200x	as long as short
SoDEX ETH-USD	+0.0070%	1h	2,771.6	+0.073%	$55.2M	$228.5M	40x	as long as short
Bitget ETHUSDT	+0.0074%	8h	2,773.6	+0.145%	$2.10B	$3.14B	150x	as long as short
Bullet ETH-USD	+0.0084%	1h	2,771.3	+0.063%	$188K	$1.8M	20x	as long as short
Variational Omni ETH	+0.0092%	8h	2,775.7	+0.222%	$140.7M	$320.1M	—	as long as short
Lighter ETH	+0.0096%	1h	2,772.9	+0.119%	$115.2M	$507.3M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,774.2	+0.165%	$25.4M	$121.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,774.9	+0.193%	—	$42.8M	500x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,774.6	+0.180%	$15.9M	$11.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,773.4	+0.138%	$493K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,772.8	+0.115%	$16.2M	$115.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,776.3	+0.243%	$3.20B	$2.38B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,773.5	+0.142%	$31.2M	$281.2M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,772.6	+0.109%	$2.51B	$4.66B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,773.4	+0.138%	$2.9M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,775.8	+0.226%	$2.8M	$17.7M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,780.5	+0.395%	$165.0M	$263.0M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,772.8	+0.116%	$426.8M	$745.0M	100x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,772.9	+0.120%	$15.4M	$42.4M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,774.5	+0.177%	$177.5M	$786.7M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,777	+0.269%	$161.5M	$98.2M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,773	+0.123%	$21.4M	$57.5M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,773.2	+0.131%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,773.5	+0.142%	$10.8M	$7.9M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,772.3	+0.098%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,773.9	+0.156%	$42.9M	$29.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,771.8	+0.080%	$972K	$14.3M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,771.4	+0.066%	$1.08B	$1.32B	200x	as long as short
Extended ETH-USD	+0.0104%	1h	2,773.2	+0.130%	$31.6M	$76.5M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,773.3	+0.133%	$60.4M	$4.66B	50x	as long as short
Kalshi KXETHPERP	+0.0111%	8h	2,776.4	+0.246%	$8.6M	$671.9M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0128%	8h	2,774.3	+0.169%	$32.6M	$11.7M	100x	as long as short
BloFin ETH-USDTshort	+0.0164%	8h	2,777.1	+0.270%	$287.5M	$197.2M	150x
Reya ETHRUSDPERP	+0.0194%	1h	2,770.8	+0.044%	$7.5M	$995K	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0240%	1h	2,773	+0.124%	$88.6M	$331.3M	100x	as long as short
Hibachi ETH/USDT-P	+0.0352%	1h	2,775	+0.195%	$273K	$1.5M	20x	as long as short