Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0053%/8h= −5.8% APRpaid last 24h −0.003%

Price spread now: HTX against Arcus−0.143%7-day average −0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$180.180% of the position

Long on Arcus Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.024%−$2 on $10k

Price spread, last 3 days (all we have)+0.066%+$7 · spread now −0.143%, 7d avg −0.050%

Together, before fees+0.042%+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and HTX is 0.093% cheaper against Arcus than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.050%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus ETH-USD	2,750.5	0.0100	pay 0.0013% / 1h	28m 45s	$2.8M	$16.5M	25x
Short	HTX ETH-USDT	2,746.5	0.0047	get 0.0047% / 8h	6h 28m	$1.07B	$1.21B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Arcus. 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 ArcusbpFee HTXbpOrdersPrice spread, now −0.143%Rate

Funding earned: −$11.14
Price spread: −0.143% → −0.050%: −$9.29
Slippage, 4 orders: −$1.51
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$38.44
Costs to cover: 0.180%
Break-even: never at this rate

Slippage from Arcus: live order book, 5 min ago; HTX: live order book, 5 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 Arcus live order book, 5 min ago	0.29 bp	3.1 bp −$3	3.8 bp −$38	doesn't fit	doesn't fit
Sell HTX live order book, 5 min ago	0.02 bp	6.0 bp −$6	6.0 bp −$60	7.2 bp −$717	10.7 bp −$5,341

ETH on 54 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	2,751.1	+0.022%	$310K	$6.0M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,749.3	−0.042%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,750.5	+0.002%	$5.6M	$11.3M	25x	as long as short
ApeX Omni ETHUSDT	−0.0014%	1h	2,748.2	−0.081%	$8.7M	$31.6M	100x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,748.5	−0.070%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,749.4	−0.039%	$848K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,749.2	−0.045%	$10.8M	$41.9M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,748.1	−0.087%	$22.2M	—	200x	as long as short
01 Exchange ETHUSD	+0.0016%	1h	2,750.5	+0.001%	$181K	$1.1M	50x	as long as short
BingX ETH-USDT	+0.0033%	8h	2,749.4	−0.038%	—	$1.19B	—	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0045%	8h	2,749.5	−0.035%	$1.69B	$11.00B	100x	as long as short
HTX ETH-USDTshort	+0.0047%	8h	2,746.5	−0.143%	$1.07B	$1.21B	200x
Aster ETHUSDT	+0.0066%	8h	2,749.3	−0.043%	$253.0M	$857.6M	200x	as long as short
Aevo ETH-PERP	+0.0072%	1h	2,745.2	−0.192%	$4.9M	$168K	20x	as long as short
MEXC ETH_USDT	+0.0073%	8h	2,749.7	−0.027%	$1.57B	$2.56B	500x	as long as short
KuCoin ETHUSDTM	+0.0073%	8h	2,749.6	−0.033%	$381.9M	$605.7M	100x	as long as short
Binance ETHUSDT	+0.0076%	8h	2,749.7	−0.027%	$6.36B	$16.23B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,748	−0.091%	$59.0M	$4.37B	50x	as long as short
Bitget ETHUSDT	+0.0091%	8h	2,749.2	−0.046%	$2.08B	$2.85B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,749.5	−0.035%	$113.0M	$442.5M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,750.9	+0.017%	$24.9M	$107.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,751.5	+0.039%	—	$35.4M	500x	as long as short
Gate ETH_USDT	+0.0096%	8h	2,749.6	−0.030%	$3.39B	$8.87B	200x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,754.2	+0.135%	$15.9M	$8.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,749.8	−0.024%	$469K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,751.2	+0.027%	$14.0M	$113.0M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,751.7	+0.045%	$3.13B	$2.12B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,750	−0.017%	$31.5M	$333.9M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,749.6	−0.032%	$2.46B	$4.33B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,748.8	−0.060%	$2.8M	$16.6M	25x	as long as short
Arcus ETH-USDlong	+0.0100%	1h	2,750.5	long leg	$2.8M	$16.5M	25x
Backpack ETH_USDC_PERP	+0.0100%	1h	2,747.1	−0.124%	$15.1M	$41.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,747.4	−0.110%	$133.1M	$346.1M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,747.9	−0.094%	$181.7M	$730.1M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,745.8	−0.169%	$159.7M	$84.5M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,750	−0.017%	$21.3M	$67.8M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,749.6	−0.031%	$10.7M	$8.5M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,748.2	−0.082%	$182K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,748.4	−0.075%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,748.9	−0.056%	$41.8M	$29.3M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,747.3	−0.116%	$962K	$12.4M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,746.9	−0.129%	$54.7M	$187.6M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,747.1	−0.123%	$267.0M	$66.0M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,743.9	−0.237%	$165.5M	$306.7M	25x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,750.7	+0.010%	—	$869K	50x	as long as short
Aftermath Perps ETHUSD	+0.0103%	1h	2,748	−0.089%	$30K	$20K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,747.9	−0.091%	$30.5M	$74.1M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0114%	1h	2,748.2	−0.083%	$258.5M	$200.3M	50x	as long as short
Kalshi KXETHPERP	+0.0139%	8h	2,750.8	+0.012%	$7.7M	$674.4M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0169%	8h	2,750.2	−0.011%	$32.3M	$11.1M	100x	as long as short
Hibachi ETH/USDT-P	+0.0200%	1h	2,750.4	−0.002%	$250K	$1.5M	20x	as long as short
Injective ETH/USDC PERP	+0.0209%	1h	2,747.9	−0.093%	$118K	$22.5M	52x	as long as short
Reya ETHRUSDPERP	+0.0219%	1h	2,748.3	−0.080%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0354%	1h	2,747.4	−0.112%	$89.9M	$316.4M	100x	as long as short