Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0059%/8h= −6.5% APRpaid last 24h −0.020%

Price spread now: KuCoin against Aftermath Perps+0.035%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 KuCoin

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. KuCoin is 0.035% dearer against Aftermath Perps than usual: you sell high and buy low (spread +0.035% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 47 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps ETHUSD	2,745.9	0.0129	pay 0.0016% / 1h	15m 51s	$30K	$20K	20x
Short	KuCoin ETHUSDTM	2,746.9	0.0070	get 0.0070% / 8h	5h 15m	$382.2M	$575.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.035%Rate

Funding earned: −$12.42
Price spread: +0.035% → 0.000%: $3.5
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$29.92
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Aftermath Perps: no order-book sample; KuCoin: 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 KuCoin live order book, 3 min ago	0.02 bp	6.7 bp −$7	9.0 bp −$90	11.5 bp −$1,153	doesn't fit

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
Hotstuff ETH-PERP	−0.0080%	1h	2,746.3	+0.013%	$5K	$1K	50x	as long as short
Injective ETH/USDC PERP	−0.0044%	1h	2,746.8	+0.031%	$118K	$22.5M	52x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,747.3	+0.050%	$12.1M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,746	0.000%	$10.8M	$41.7M	50x	as long as short
Perpl ETH	0.0000%	43m	2,746.3	+0.012%	$305K	$5.6M	8.3x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,747.4	+0.051%	$25.1M	—	200x	as long as short
Phoenix ETH	+0.0017%	1h	2,747	+0.038%	$848K	$2.9M	25x	as long as short
01 Exchange ETHUSD	+0.0024%	1h	2,746.6	+0.024%	$182K	$849K	50x	as long as short
ApeX Omni ETHUSDT	+0.0033%	1h	2,747.3	+0.049%	$8.9M	$30.7M	100x	as long as short
BingX ETH-USDC	+0.0053%	8h	2,746.7	+0.027%	—	$18.4M	—	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	+0.0067%	8h	2,745.9	−0.001%	$1.71B	$10.56B	100x	as long as short
KuCoin ETHUSDTMshort	+0.0070%	8h	2,746.9	+0.035%	$382.2M	$575.4M	100x
Bullet ETH-USD	+0.0073%	1h	2,746.9	+0.035%	$184K	$1.7M	20x	as long as short
RISEx ETH/USDC	+0.0077%	1h	2,746.4	+0.018%	$5.6M	$11.4M	25x	as long as short
Aster ETHUSDT	+0.0089%	8h	2,747.2	+0.047%	$254.2M	$840.9M	200x	as long as short
SoDEX ETH-USD	+0.0095%	1h	2,746.9	+0.035%	$54.7M	$187.6M	40x	as long as short
Lighter ETH	+0.0096%	1h	2,747.2	+0.047%	$113.0M	$435.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,748.6	+0.095%	$24.6M	$104.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,746.1	+0.006%	—	$30.5M	500x	as long as short
MEXC ETH_USDT	+0.0096%	8h	2,747.4	+0.054%	$1.56B	$2.55B	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,744.4	−0.057%	$4.9M	$154K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0096%	1h	2,749.5	+0.129%	$58.0M	$4.26B	50x	as long as short
Binance ETHUSDT	+0.0096%	8h	2,747.3	+0.048%	$6.39B	$15.67B	150x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,750.8	+0.176%	$16.1M	$7.9M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,745.7	−0.009%	$468K	$3.1M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,746	0.000%	$13.9M	$104.9M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,749.3	+0.122%	$3.12B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,746.4	+0.016%	$31.7M	$334.5M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,746.1	+0.005%	$2.46B	$4.17B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,745.1	−0.031%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,746.3	+0.014%	$2.7M	$16.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,742.3	−0.133%	$165.2M	$299.1M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,747.5	+0.055%	$3.39B	$8.76B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,746.2	+0.010%	$2.08B	$2.72B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,746.6	+0.024%	$15.0M	$39.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,746.6	+0.024%	$133.5M	$325.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,744.5	−0.052%	$182.4M	$673.5M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,746.6	+0.025%	$159.7M	$83.5M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,746.9	+0.035%	$21.2M	$67.8M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,747	+0.039%	—	$815K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,747.6	+0.060%	$11.0M	$8.8M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,748.7	+0.100%	$41.6M	$29.6M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,746.6	+0.022%	$963K	$11.5M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,746.7	+0.027%	$1.06B	$1.17B	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,747	+0.038%	$267.0M	$64.8M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,746.1	+0.007%	$30.7M	$72.0M	50x	as long as short
Aftermath Perps ETHUSDlong	+0.0129%	1h	2,745.9	long leg	$30K	$20K	20x
Kalshi KXETHPERP	+0.0160%	8h	2,747.1	+0.042%	$7.8M	$669.8M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0183%	1h	2,748.6	+0.096%	$259.8M	$196.0M	50x	as long as short
Orderly PERP_ETH_USDC	+0.0194%	8h	2,749.3	+0.121%	$32.4M	$11.4M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0221%	1h	2,747.9	+0.073%	$86.7M	$310.3M	100x	as long as short
Reya ETHRUSDPERP	+0.0228%	1h	2,745.8	−0.006%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0256%	1h	2,747.9	+0.070%	$253K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0290%	8h	2,746.1	+0.005%	$286.1M	$181.2M	150x	as long as short
Bluefin ETH-PERP	+0.0505%	1h	2,747	+0.037%	$21K	$20K	25x	as long as short