Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.007%

Price spread now: MEXC against Arcus−0.021%7-day average −0.029% · 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−$8as in the Price arb table

costs, in and out, $10k−$90.086% of the position

Long on Arcus Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.020%−$2 on $10k

Price spread, last 7 days+0.001%$0 · spread now −0.021%, 7d avg −0.029%

Together, before fees−0.018%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.029%, 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	2,746.5	0.0100	pay 0.0013% / 1h	7m 31s	$2.8M	$16.4M	25x
Short	MEXC ETH_USDT	2,745.9	0.0080	get 0.0080% / 8h	6h 07m	$1.57B	$2.58B	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.021%Rate

Funding earned: −$4.2
Price spread: −0.021% → −0.029%: $0.79
Slippage, 4 orders: −$2.11
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee MEXC: 1 bp × 2 orders: −$2
Net: −$12.01
Costs to cover: 0.086%
Break-even: never at this rate

Slippage from Arcus: live order book, 2 min ago; MEXC: live order book, 2 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, 2 min ago	0.02 bp	4.3 bp −$4	5.6 bp −$56	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	0.02 bp	1.0 bp −$1	1.0 bp −$10	1.0 bp −$102	2.1 bp −$1,030

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	−0.0112%	43m	2,745.3	−0.044%	$310K	$5.8M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,747.1	+0.024%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,746.2	−0.010%	$5.7M	$11.2M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,746.3	−0.004%	$12.1M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,744.8	−0.060%	$847K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,746.3	−0.004%	$10.8M	$42.0M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,746.4	−0.002%	$22.2M	—	200x	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,746.2	−0.009%	$181K	$1.0M	50x	as long as short
BingX ETH-USDC	+0.0040%	8h	2,745.7	−0.027%	—	$18.5M	—	as long as short
OKX ETH-USDT-SWAP	+0.0052%	8h	2,745.3	−0.043%	$1.69B	$10.82B	100x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni ETHUSDT	+0.0066%	1h	2,741.8	−0.171%	$8.7M	$31.4M	100x	as long as short
KuCoin ETHUSDTM	+0.0066%	8h	2,745.9	−0.019%	$370.1M	$608.7M	100x	as long as short
HTX ETH-USDT	+0.0066%	8h	2,745.4	−0.039%	$1.06B	$1.19B	200x	as long as short
Aster ETHUSDT	+0.0067%	8h	2,745.7	−0.026%	$253.5M	$853.6M	200x	as long as short
Binance ETHUSDT	+0.0079%	8h	2,745.4	−0.038%	$6.38B	$16.06B	150x	as long as short
MEXC ETH_USDTshort	+0.0080%	8h	2,745.9	−0.021%	$1.57B	$2.58B	500x
Aevo ETH-PERP	+0.0080%	1h	2,744.3	−0.080%	$4.9M	$167K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,746.3	−0.007%	$58.9M	$4.31B	50x	as long as short
Gate ETH_USDT	+0.0093%	8h	2,746	−0.016%	$3.39B	$8.94B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,746.8	+0.012%	$112.9M	$444.8M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,748.3	+0.066%	$24.8M	$107.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,745.5	−0.035%	—	$34.8M	500x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,749.2	+0.102%	$16.2M	$8.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,745.5	−0.035%	$477K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,746.5	0.000%	$13.9M	$109.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,747.4	+0.035%	$3.13B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,746.8	+0.012%	$31.7M	$334.3M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,745.3	−0.043%	$2.46B	$4.27B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,746.2	−0.009%	$2.7M	$17.0M	25x	as long as short
Arcus ETH-USDlong	+0.0100%	1h	2,746.5	long leg	$2.8M	$16.4M	25x
Bitget ETHUSDT	+0.0100%	8h	2,745.8	−0.023%	$2.08B	$2.78B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,745.9	−0.020%	$15.0M	$41.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,744.9	−0.055%	$132.7M	$345.6M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,742.2	−0.156%	$181.3M	$699.8M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,743.3	−0.115%	$159.5M	$82.2M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,745.8	−0.024%	$21.2M	$69.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,746.2	−0.010%	—	$849K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,746.2	−0.009%	$10.7M	$8.6M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,745.9	−0.020%	$182K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,746.2	−0.010%	$21K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,748	+0.058%	$41.6M	$29.6M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,743.1	−0.121%	$961K	$12.2M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,746.1	−0.013%	$54.7M	$187.7M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,746.1	−0.013%	$267.3M	$65.9M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,747.7	+0.044%	$164.0M	$301.0M	25x	as long as short
Aftermath Perps ETHUSD	+0.0101%	1h	2,746.6	+0.005%	$30K	$20K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,745.1	−0.050%	$30.5M	$73.1M	50x	as long as short
Kalshi KXETHPERP	+0.0146%	8h	2,745.4	−0.038%	$7.8M	$672.4M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0178%	8h	2,748.7	+0.082%	$32.3M	$11.2M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0191%	1h	2,747	+0.021%	$258.8M	$200.1M	50x	as long as short
Injective ETH/USDC PERP	+0.0209%	1h	2,745	−0.053%	$118K	$22.5M	52x	as long as short
Reya ETHRUSDPERP	+0.0222%	1h	2,745.6	−0.031%	$7.3M	$1.1M	25x	as long as short
Hibachi ETH/USDT-P	+0.0224%	1h	2,746.6	+0.007%	$250K	$1.5M	20x	as long as short
Kraken Futures PF_ETHUSD	+0.0354%	1h	2,746.5	0.000%	$88.1M	$316.0M	100x	as long as short