Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.016%

Price spread now: SunX against ApeX Omni+0.256%73s7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$5as 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−$220.224% of the position

Long on ApeX Omni Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.175%+$17 on $10k

Price spread, last 3 days (all we have)−0.421%−$42 · spread now +0.256%, 7d avg −0.013%

Together, before fees−0.246%−$25 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SunX is 0.270% dearer against ApeX Omni than usual: you sell high and buy low, +$27 on $10k if it goes back to its 7-day average of −0.013%. The two prices were read 73 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	ApeX Omni ETHUSDT	2,767.8	0.0100	pay 0.0013% / 1h	53m 37s	$8.7M	$32.6M	100x
Short	SunX ETH-USDT	2,774.9	0.0100	get 0.0100% / 8h	1h 53m	$972K	$14.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.256%Rate

Funding earned: $0
Price spread: +0.256% → −0.013%: $26.96
Slippage, 4 orders: −$4.42
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: $4.54
Costs to cover: 0.224%
Break-even: from the start

Slippage from ApeX Omni: live order book, 1 min ago; SunX: 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 ApeX Omni live order book, 1 min ago	0.31 bp	5.3 bp −$5	5.3 bp −$53	18.5 bp −$1,854	50.0 bp −$25.0K
Sell SunX live order book, 6 min ago	0.45 bp	4.5 bp −$4	4.7 bp −$47	6.9 bp −$691	doesn't fit

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	2,775.2	+0.267%	$290K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,772.2	+0.158%	$5.7M	$12.1M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,776.7	+0.320%	$5K	$2K	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,773.8	+0.216%	$119K	$22.5M	52x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,776.2	+0.302%	$169K	$1.2M	50x	as long as short
Phoenix ETH	−0.0023%	1h	2,775.6	+0.281%	$886K	$3.7M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,774.3	+0.233%	$12.7M	$45.5M	50x	as long as short
Aftermath Perps ETHUSD	+0.0006%	1h	2,772.8	+0.181%	$29K	$22K	20x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,774.3	+0.233%	$22.4M	—	200x	as long as short
BingX ETH-USDC	+0.0018%	8h	2,772.3	+0.161%	—	$17.3M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ETH-PERP	+0.0018%	1h	2,775.5	+0.278%	$14.3M	$118.8M	50x	as long as short
OKX ETH-USDT-SWAP	+0.0022%	8h	2,772.5	+0.169%	$1.71B	$11.87B	100x	as long as short
Phemex ETHUSDT	+0.0023%	8h	2,773.2	+0.193%	$267.2M	$65.9M	150x	as long as short
Hibachi ETH/USDT-P	+0.0024%	1h	2,778.4	+0.383%	$277K	$1.5M	20x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,774.4	+0.236%	$13.2M	—	200x	as long as short
Aster ETHUSDT	+0.0033%	8h	2,773.6	+0.210%	$256.5M	$993.6M	200x	as long as short
Deribit ETH-PERPETUAL	+0.0042%	1h	2,774.9	+0.255%	$258.4M	$225.0M	50x	as long as short
Bullet ETH-USD	+0.0050%	1h	2,773.7	+0.212%	$182K	$1.8M	20x	as long as short
Binance ETHUSDT	+0.0054%	8h	2,772.9	+0.184%	$6.43B	$17.19B	150x	as long as short
MEXC ETH_USDT	+0.0054%	8h	2,772.8	+0.181%	$1.61B	$2.63B	500x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,772.2	+0.158%	$5.0M	$636K	20x	as long as short
Bitget ETHUSDT	+0.0074%	8h	2,772.2	+0.158%	$2.10B	$3.12B	150x	as long as short
Gate ETH_USDT	+0.0080%	8h	2,773	+0.185%	$3.29B	$9.54B	200x	as long as short
SoDEX ETH-USD	+0.0092%	1h	2,773.2	+0.194%	$55.2M	$228.6M	40x	as long as short
Lighter ETH	+0.0096%	1h	2,773.3	+0.198%	$115.0M	$495.5M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,774.8	+0.250%	$25.4M	$120.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,776.8	+0.325%	—	$41.7M	500x	as long as short
Variational Omni ETH	+0.0098%	8h	2,772.1	+0.156%	$135.2M	$326.5M	—	as long as short
HTX ETH-USDT	+0.0098%	8h	2,773.5	+0.203%	$1.08B	$1.32B	200x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,772.8	+0.181%	$15.9M	$10.6M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,772.9	+0.183%	$481K	$2.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,775	+0.259%	$3.19B	$2.38B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,773.3	+0.198%	$31.2M	$293.6M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,773.1	+0.191%	$2.51B	$4.63B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,772.5	+0.169%	$2.8M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,774.2	+0.231%	$2.8M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,771	+0.113%	$164.2M	$249.6M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,773.1	+0.191%	$424.1M	$740.7M	100x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,773.2	+0.193%	$15.2M	$44.0M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,768.2	+0.012%	$179.4M	$778.3M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,770.8	+0.107%	$161.2M	$96.1M	50x	as long as short
ApeX Omni ETHUSDTlong	+0.0100%	1h	2,767.8	long leg	$8.7M	$32.6M	100x
StandX ETH-USD	+0.0100%	1h	2,777	+0.331%	$21.4M	$57.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,775.7	+0.285%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,776.4	+0.310%	$10.8M	$7.7M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,774.7	+0.248%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,775.8	+0.289%	$42.7M	$29.3M	15x	as long as short
SunX ETH-USDTshort	+0.0100%	8h	2,774.9	+0.256%	$972K	$14.1M	100x
Extended ETH-USD	+0.0104%	1h	2,771.7	+0.141%	$31.4M	$75.3M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,774.5	+0.241%	$59.9M	$4.62B	50x	as long as short
Kalshi KXETHPERP	+0.0109%	8h	2,776.8	+0.324%	$8.6M	$673.7M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0137%	8h	2,776.2	+0.302%	$32.6M	$12.0M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0170%	1h	2,774.1	+0.226%	$86.2M	$331.6M	100x	as long as short
BloFin ETH-USDT	+0.0173%	8h	2,775.7	+0.283%	$286.5M	$195.2M	150x	as long as short
Reya ETHRUSDPERP	+0.0187%	1h	2,774.5	+0.242%	$7.4M	$1.1M	25x	as long as short