Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:40 UTC−0.0012%/8h= −1.4% APRpaid last 24h −0.057%

Price spread now: Perpl against ApeX Omni+0.026%7-day average +0.013% · you sell dearer than you buy

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

Long on ApeX Omni Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 7 days+0.183%+$18 on $10k

Price spread, last 7 days−0.019%−$2 · spread now +0.026%, 7d avg +0.013%

Together, before fees+0.165%+ Points / potential airdropPerpl: Active · farm board+$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.013%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.183%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ETHUSDT	2,728.8	0.0012	pay 0.0002% / 1h	59m 03s	$8.6M	$31.6M	100x
Short	Perpl ETH	2,729.5	0	get 0.0000% / 43m	5m 03s	$288K	$5.8M	8.3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl against ApeX Omni. 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 ApeX OmnibpFee PerplbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$2.62
Price spread: +0.026% → +0.013%: $1.3
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: −$25.12
Costs to cover: 0.238%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 5 min ago; Perpl: no order-book sample. 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 ApeX Omni live order book, 5 min ago	0.07 bp	5.4 bp −$5	6.6 bp −$66	19.4 bp −$1,941	49.7 bp −$24.8K
Sell Perpl no order-book sample	—	—	—	—	—

Perpl: 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	2,729.9	+0.040%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,729.9	+0.041%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,730	+0.043%	$812K	$3.0M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,729.8	+0.036%	$10.5M	$42.8M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,730.2	+0.051%	$6.5M	$681.9M	4.9x	as long as short
Perpl ETHshort	0.0000%	43m	2,729.5	+0.026%	$288K	$5.8M	8.3x
Deribit ETH-PERPETUAL	0.0000%	1h	2,730.5	+0.062%	$262.5M	$213.4M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,729.9	+0.040%	$32.9M	—	200x	as long as short
ApeX Omni ETHUSDTlong	+0.0012%	1h	2,728.8	long leg	$8.6M	$31.6M	100x
BingX ETH-USDT	+0.0022%	8h	2,729.3	+0.017%	—	$1.10B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0025%	8h	2,728.8	−0.002%	$2.33B	$4.38B	150x	as long as short
HTX ETH-USDT	+0.0030%	8h	2,729.3	+0.016%	$1.05B	$1.22B	200x	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,730.2	+0.051%	$191K	$890K	50x	as long as short
Injective ETH/USDC PERP	+0.0050%	1h	2,734.2	+0.197%	$117K	$20.2M	52x	as long as short
Kraken Futures PF_ETHUSD	+0.0060%	1h	2,730	+0.044%	$82.1M	$309.7M	100x	as long as short
KuCoin ETHUSDTM	+0.0068%	8h	2,729.5	+0.025%	$385.6M	$577.4M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0079%	8h	2,728.8	−0.001%	$1.65B	$10.86B	100x	as long as short
Aster ETHUSDT	+0.0081%	8h	2,729	+0.006%	$252.7M	$847.8M	200x	as long as short
MEXC ETH_USDT	+0.0092%	8h	2,729.6	+0.029%	$1.54B	$2.55B	500x	as long as short
Binance ETHUSDT	+0.0093%	8h	2,729.2	+0.013%	$6.33B	$16.12B	150x	as long as short
Bullet ETH-USD	+0.0096%	1h	2,729.5	+0.024%	$187K	$1.7M	20x	as long as short
Lighter ETH	+0.0096%	1h	2,730.2	+0.049%	$112.6M	$428.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,731.5	+0.097%	$23.5M	$101.7M	50x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,727	−0.065%	$4.9M	$174K	20x	as long as short
Phemex ETHUSDT	+0.0096%	8h	2,729.8	+0.036%	$262.9M	$64.4M	150x	as long as short
SoDEX ETH-USD	+0.0098%	1h	2,729.4	+0.021%	$54.4M	$187.2M	40x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,729.5	+0.025%	$501K	$3.5M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,733.9	+0.184%	$15.4M	$7.8M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,729.3	+0.018%	$14.1M	$104.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,731.7	+0.105%	$3.10B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,730.5	+0.061%	$32.2M	$333.8M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,729.1	+0.010%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,730.3	+0.055%	$1.5M	$16.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,729.5	+0.023%	$3.30B	$8.83B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,728.9	+0.004%	$2.10B	$2.77B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,729.3	+0.018%	$15.1M	$41.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,728	−0.031%	$134.0M	$320.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,728.7	−0.004%	$185.5M	$683.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,729.2	+0.014%	$158.6M	$83.7M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,730.8	+0.073%	$21.0M	$70.2M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,731.2	+0.087%	—	$445K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,730.8	+0.073%	$11.2M	$9.5M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,730.3	+0.054%	$22K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,732.6	+0.140%	$40.9M	$30.1M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,729.2	+0.012%	$957K	$10.9M	100x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,729	+0.006%	$162.7M	$352.6M	25x	as long as short
Aftermath Perps ETHUSD	+0.0102%	1h	2,731.2	+0.088%	$30K	$20K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,728.6	−0.007%	$30.4M	$72.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0056%	1h	2,729.8	+0.036%	—	$30.5M	500x	as long as short
Hibachi ETH/USDT-P	+0.0112%	1h	2,729.7	+0.034%	$243K	$1.4M	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,730.8	+0.071%	$46.5M	$4.30B	50x	as long as short
RISEx ETH/USDC	+0.0114%	1h	2,730.5	+0.060%	$5.6M	$11.6M	25x	as long as short
BloFin ETH-USDT	+0.0144%	8h	2,729.9	+0.038%	$281.2M	$177.3M	150x	as long as short
Orderly PERP_ETH_USDC	+0.0185%	8h	2,731.8	+0.110%	$32.2M	$11.4M	100x	as long as short
Reya ETHRUSDPERP	+0.0186%	1h	2,728.8	−0.002%	$7.3M	$975K	25x	as long as short