Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.029%

Price spread now: BingX against Aftermath Perps+0.096%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Aftermath Perps Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. BingX is 0.096% dearer against Aftermath Perps than usual: you sell high and buy low (spread +0.096% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps ETHUSD	2,750.4	0.0096	pay 0.0012% / 1h	50m 56s	$30K	$21K	20x
Short	BingX ETH-USDT	2,753	0.0028	get 0.0028% / 8h	6h 50m	—	$1.20B	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Aftermath Perps. 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 Aftermath PerpsbpFee BingXbpOrdersPrice spread, now +0.096%Rate

Funding earned: −$14.21
Price spread: +0.096% → 0.000%: $9.61
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$23.59
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Aftermath Perps: no order-book sample; BingX: live order book, 3 min ago. Net counts fees only.

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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell BingX live order book, 3 min ago	0.04 bp	5.0 bp −$5	5.0 bp −$50	5.0 bp −$504	6.4 bp −$3,178

Aftermath Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
ApeX Omni ETHUSDT	−0.0449%	1h	2,745.8	−0.166%	$8.7M	$31.5M	100x	as long as short
Perpl ETH	−0.0447%	43m	2,749	−0.048%	$320K	$6.2M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,749.7	−0.024%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,750.2	−0.007%	$5.5M	$11.3M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,751	+0.023%	$12.0M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,749.5	−0.031%	$863K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,750.6	+0.007%	$10.9M	$41.9M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,751.1	+0.028%	$22.2M	—	200x	as long as short
01 Exchange ETHUSD	+0.0008%	1h	2,750.2	−0.006%	$181K	$1.1M	50x	as long as short
BingX ETH-USDTshort	+0.0028%	8h	2,753	+0.096%	—	$1.20B	—

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0035%	8h	2,753.1	+0.101%	$1.68B	$11.10B	100x	as long as short
HTX ETH-USDT	+0.0043%	8h	2,750.6	+0.007%	$1.07B	$1.23B	200x	as long as short
Aster ETHUSDT	+0.0046%	8h	2,751.4	+0.037%	$256.0M	$854.9M	200x	as long as short
MEXC ETH_USDT	+0.0055%	8h	2,751.8	+0.053%	$1.58B	$2.53B	500x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,749.3	−0.040%	$4.9M	$163K	20x	as long as short
Binance ETHUSDT	+0.0058%	8h	2,752.1	+0.064%	$6.38B	$16.32B	150x	as long as short
Gate ETH_USDT	+0.0058%	8h	2,753.2	+0.103%	$3.33B	$8.72B	200x	as long as short
KuCoin ETHUSDTM	+0.0081%	8h	2,751.6	+0.044%	$385.3M	$607.1M	100x	as long as short
Bitget ETHUSDT	+0.0083%	8h	2,753.2	+0.104%	$2.08B	$2.86B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,752.5	+0.076%	$59.6M	$4.40B	50x	as long as short
Aftermath Perps ETHUSDlong	+0.0096%	1h	2,750.4	long leg	$30K	$21K	20x
Lighter ETH	+0.0096%	1h	2,751.3	+0.033%	$113.3M	$439.0M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,752.8	+0.088%	$25.1M	$105.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,751.1	+0.025%	—	$35.7M	500x	as long as short
Variational Omni ETH	+0.0097%	8h	2,750.3	−0.002%	$133.4M	$346.5M	—	as long as short
Deribit ETH-PERPETUAL	+0.0099%	1h	2,752.1	+0.064%	$258.7M	$202.4M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,751.7	+0.049%	$15.9M	$8.2M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,749.3	−0.039%	$469K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,748.9	−0.055%	$14.0M	$113.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,753.2	+0.103%	$3.13B	$2.14B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,749.3	−0.037%	$31.2M	$332.2M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,753.1	+0.100%	$2.47B	$4.35B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,749.1	−0.046%	$2.8M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,750.7	+0.011%	$2.8M	$16.8M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,752.6	+0.083%	$169.2M	$297.0M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,750.5	+0.005%	$14.9M	$42.5M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,743.2	−0.259%	$183.8M	$733.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,747.1	−0.119%	$159.8M	$82.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,745.9	−0.162%	$21.2M	$65.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,750.3	−0.003%	—	$871K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,749.4	−0.035%	$10.4M	$8.0M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,750.5	+0.006%	$183K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,751.2	+0.031%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,752.8	+0.090%	$42.0M	$29.0M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,750.7	+0.013%	$965K	$12.7M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,750.8	+0.016%	$54.8M	$187.6M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,751.4	+0.037%	$267.5M	$66.2M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,751.2	+0.032%	$30.5M	$74.1M	50x	as long as short
Kalshi KXETHPERP	+0.0132%	8h	2,750.6	+0.009%	$7.7M	$671.3M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0160%	8h	2,753.9	+0.128%	$32.4M	$11.2M	100x	as long as short
Hibachi ETH/USDT-P	+0.0168%	1h	2,750	−0.012%	$250K	$1.5M	20x	as long as short
BloFin ETH-USDT	+0.0178%	8h	2,751.2	+0.031%	$286.2M	$179.0M	150x	as long as short
Injective ETH/USDC PERP	+0.0209%	1h	2,749.9	−0.017%	$118K	$22.5M	52x	as long as short
Reya ETHRUSDPERP	+0.0217%	1h	2,749.4	−0.034%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0354%	1h	2,752.3	+0.071%	$93.2M	$316.3M	100x	as long as short