Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0110%/8h= +12.1% APRpaid last 24h +0.008%

Price spread now: BloFin against Aftermath Perps−0.086%109s7-day average — · you buy dearer than you sell

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

Long on Aftermath Perps Short on BloFin

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

Funding pays, the price is against you. BloFin is 0.086% cheaper against Aftermath Perps than usual: you would sell low and buy high (spread −0.086% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 2.6 days of funding at the current rate (+$3 a day). The two prices were read 109 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	Aftermath Perps ETHUSD	2,771.1	0.0072	pay 0.0009% / 1h	19m 20s	$31K	$21K	20x
Short	BloFin ETH-USDT	2,768.7	0.0182	get 0.0182% / 8h	7h 19m	$287.1M	$181.1M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.086%Rate

Funding earned: $23.12
Price spread: −0.086% → 0.000%: −$8.6
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$6.48
Costs to cover: 0.210%
Break-even: 9.0 days

Slippage unknown: Aftermath Perps: no order-book sample; BloFin: live order book, 5 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 BloFin live order book, 5 min ago	0.04 bp	6.0 bp −$6	6.0 bp −$60	7.2 bp −$724	8.8 bp −$4,387

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
Injective ETH/USDC PERP	−0.0752%	1h	2,776.9	+0.210%	$119K	$22.5M	52x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,766.7	−0.158%	$5.6M	$11.2M	25x	as long as short
Perpl ETH	−0.0112%	43m	2,767.1	−0.145%	$326K	$6.2M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,767.2	−0.140%	$5K	$1K	50x	as long as short
01 Exchange ETHUSD	−0.0032%	1h	2,767.1	−0.144%	$169K	$1.1M	50x	as long as short
Phoenix ETH	−0.0003%	1h	2,772	+0.033%	$873K	$3.7M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,767.8	−0.118%	$12.2M	$43.2M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,767.2	−0.140%	$22.4M	—	200x	as long as short
Bullet ETH-USD	+0.0019%	1h	2,766.7	−0.159%	$184K	$1.7M	20x	as long as short
OKX ETH-USDT-SWAP	+0.0028%	8h	2,765.6	−0.198%	$1.71B	$11.11B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX ETH-USD	+0.0032%	1h	2,768.2	−0.104%	$55.1M	$188.0M	40x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0043% / S −0.0009%	1h	2,768.7	−0.087%	$12.7M	—	200x	as long as short
Aster ETHUSDT	+0.0047%	8h	2,766.5	−0.166%	$255.8M	$885.0M	200x	as long as short
Gate ETH_USDT	+0.0056%	8h	2,767.1	−0.143%	$3.37B	$9.05B	200x	as long as short
MEXC ETH_USDT	+0.0059%	8h	2,767.5	−0.131%	$1.61B	$2.65B	500x	as long as short
Binance ETHUSDT	+0.0060%	8h	2,766.6	−0.164%	$6.47B	$16.25B	150x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,768.2	−0.105%	$5.0M	$165K	20x	as long as short
Aftermath Perps ETHUSDlong	+0.0072%	1h	2,771.1	long leg	$31K	$21K	20x
Bitget ETHUSDT	+0.0075%	8h	2,767.9	−0.116%	$2.10B	$2.87B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,769.4	−0.063%	$60.3M	$4.42B	50x	as long as short
Phemex ETHUSDT	+0.0081%	8h	2,768.3	−0.102%	$269.4M	$67.4M	150x	as long as short
Vest ETH-PERP	+0.0082%	1h	2,767.8	−0.118%	—	$876K	50x	as long as short
KuCoin ETHUSDTM	+0.0085%	8h	2,766.9	−0.150%	$420.4M	$619.7M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,766.5	−0.165%	$114.8M	$458.5M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,768.1	−0.108%	$25.6M	$111.7M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0097%	1h	2,769.7	−0.051%	$259.1M	$204.6M	50x	as long as short
ApeX Omni ETHUSDT	+0.0098%	1h	2,768.2	−0.105%	$8.7M	$32.1M	100x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,769.1	−0.073%	$15.9M	$8.6M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,766.9	−0.151%	$488K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,766.1	−0.182%	$14.6M	$113.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,770.2	−0.032%	$3.17B	$2.18B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,767.6	−0.126%	$31.2M	$328.0M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,765.9	−0.189%	$2.51B	$4.32B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,766.1	−0.180%	$2.8M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,767.3	−0.137%	$2.8M	$16.8M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,772.8	+0.063%	$170.3M	$276.6M	25x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,766.8	−0.154%	—	$1.21B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,767.6	−0.128%	$15.1M	$42.1M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,768.5	−0.092%	$137.0M	$344.9M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,768.1	−0.108%	$181.7M	$785.3M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,768.8	−0.084%	$161.1M	$85.1M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,767.8	−0.119%	$21.4M	$64.0M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,767.6	−0.126%	$10.5M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,769.3	−0.063%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,770.4	−0.025%	$42.6M	$28.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,767.3	−0.137%	$970K	$13.1M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,768	−0.111%	$1.08B	$1.25B	200x	as long as short
Extended ETH-USD	+0.0104%	1h	2,766	−0.183%	$30.9M	$74.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,769	−0.075%	—	$36.1M	500x	as long as short
Kalshi KXETHPERP	+0.0109%	8h	2,768.8	−0.083%	$8.0M	$679.1M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,769.6	−0.053%	$96.0M	$318.8M	100x	as long as short
Hibachi ETH/USDT-P	+0.0152%	1h	2,769.3	−0.066%	$252K	$1.5M	20x	as long as short
Orderly PERP_ETH_USDC	+0.0154%	8h	2,768.6	−0.089%	$32.6M	$11.1M	100x	as long as short
BloFin ETH-USDTshort	+0.0182%	8h	2,768.7	−0.086%	$287.1M	$181.1M	150x
Reya ETHRUSDPERP	+0.0213%	1h	2,767.6	−0.125%	$7.3M	$1.1M	25x	as long as short