Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.002%

Price spread now: KuCoin against Arcus−0.022%7-day average −0.024% · 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−$18as in the Price arb table

costs, in and out, $10k−$180.177% of the position

Long on Arcus Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.053%−$5 on $10k

Price spread, last 7 days+0.021%+$2 · spread now −0.022%, 7d avg −0.024%

Together, before fees−0.031%−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.024%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus ETH-USD	2,739.4	0.0100	pay 0.0013% / 1h	0m 33s	$1.6M	$16.0M	25x
Short	KuCoin ETHUSDTM	2,738.8	0.0068	get 0.0068% / 8h	4h 00m	$380.3M	$573.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$6.72
Price spread: −0.022% → −0.024%: $0.23
Slippage, 4 orders: −$1.24
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$24.23
Costs to cover: 0.177%
Break-even: never at this rate

Slippage from Arcus: live order book, 4 min ago; KuCoin: live order book, 9 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, 4 min ago	0.07 bp	2.3 bp −$2	2.5 bp −$25	5.6 bp −$557	doesn't fit
Sell KuCoin live order book, 9 min ago	0.02 bp	6.0 bp −$6	8.1 bp −$81	10.9 bp −$1,086	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	2,737.9	−0.057%	$297K	$5.6M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,734.2	−0.191%	$117K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,737.2	−0.081%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,737.7	−0.062%	$11.9M	—	200x	as long as short
Phoenix ETH	0.0000%	1h	2,737.3	−0.078%	$827K	$2.9M	25x	as long as short
dYdX ETH-USD	+0.0001%	1h	2,738.2	−0.046%	$10.7M	$41.9M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,737.9	−0.058%	$28.1M	—	200x	as long as short
01 Exchange ETHUSD	+0.0008%	1h	2,739.4	−0.001%	$187K	$822K	50x	as long as short
Bullet ETH-USD	+0.0015%	1h	2,737.5	−0.072%	$179K	$1.7M	20x	as long as short
HTX ETH-USDT	+0.0022%	8h	2,737.5	−0.069%	$1.06B	$1.20B	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDT	+0.0043%	8h	2,738.8	−0.023%	—	$1.15B	—	as long as short
Bybit ETHUSDT	+0.0054%	8h	2,738.6	−0.029%	$2.38B	$4.35B	150x	as long as short
ApeX Omni ETHUSDT	+0.0064%	1h	2,736.1	−0.122%	$8.7M	$31.3M	100x	as long as short
KuCoin ETHUSDTMshort	+0.0068%	8h	2,738.8	−0.022%	$380.3M	$573.7M	100x
OKX ETH-USDT-SWAP	+0.0075%	8h	2,739.5	+0.001%	$1.67B	$10.74B	100x	as long as short
Phemex ETHUSDT	+0.0078%	8h	2,738.6	−0.030%	$266.1M	$65.0M	150x	as long as short
Aster ETHUSDT	+0.0089%	8h	2,738.6	−0.031%	$251.2M	$841.9M	200x	as long as short
Lighter ETH	+0.0096%	1h	2,739	−0.015%	$113.1M	$442.3M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,739.8	+0.015%	$23.5M	$106.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,737.5	−0.069%	—	$31.0M	500x	as long as short
MEXC ETH_USDT	+0.0096%	8h	2,738.8	−0.024%	$1.55B	$2.57B	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,734.9	−0.164%	$4.9M	$155K	20x	as long as short
Binance ETHUSDT	+0.0098%	8h	2,739	−0.016%	$6.37B	$15.88B	150x	as long as short
RISEx ETH/USDC	+0.0099%	1h	2,739.6	+0.006%	$5.7M	$11.7M	25x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,742.7	+0.120%	$15.6M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,738.4	−0.038%	$500K	$3.3M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,738.7	−0.025%	$13.6M	$104.4M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,740	+0.021%	$3.11B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,739.7	+0.008%	$32.0M	$335.0M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,737.8	−0.060%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USDlong	+0.0100%	1h	2,739.4	long leg	$1.6M	$16.0M	25x
Bulk ETH-USD	+0.0100%	1h	2,733.7	−0.210%	$169.4M	$313.3M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,738.7	−0.026%	$3.34B	$8.94B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,738.9	−0.018%	$2.07B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,737.7	−0.065%	$15.1M	$40.1M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,737.3	−0.077%	$134.0M	$324.5M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,735.2	−0.155%	$184.0M	$671.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,736.6	−0.104%	$159.2M	$86.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,736.2	−0.118%	$21.1M	$68.3M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,738.5	−0.033%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,739.2	−0.008%	$11.2M	$9.3M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,737.9	−0.056%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,739.5	+0.002%	$41.3M	$29.8M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,737.1	−0.086%	$961K	$11.3M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,737.7	−0.063%	$54.5M	$187.6M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,738	−0.053%	$30.4M	$72.9M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,739.2	−0.009%	$51.4M	$4.27B	50x	as long as short
Aftermath Perps ETHUSD	+0.0115%	1h	2,735.4	−0.148%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0129%	8h	2,738	−0.052%	$6.7M	$679.1M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0198%	8h	2,740.2	+0.030%	$32.2M	$11.7M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0207%	1h	2,739.4	0.000%	$260.1M	$197.0M	50x	as long as short
Reya ETHRUSDPERP	+0.0216%	1h	2,737	−0.090%	$7.3M	$1.2M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0222%	1h	2,738.6	−0.031%	$83.3M	$314.8M	100x	as long as short
Hibachi ETH/USDT-P	+0.0280%	1h	2,737.6	−0.065%	$249K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0387%	8h	2,737.2	−0.081%	$283.5M	$175.9M	150x	as long as short