Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: Ondo Perps against Arcus−0.016%7-day average −0.043% · you buy dearer than you sell

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

Long on Arcus Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.001%$0 on $10k

Price spread, last 7 days−0.178%−$18 · spread now −0.016%, 7d avg −0.043%

Together, before fees−0.177%+ Points / potential airdropOndo Perps: Active · farm board−$18 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: Ondo Perps is 0.027% dearer against Arcus than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus ETH-USD	2,729.4	0.0100	pay 0.0013% / 1h	13m 23s	$1.5M	$16.0M	25x
Short	Ondo Perps ETH-USD.P	2,729	0.0100	get 0.0013% / 1h	13m 23s	$2.7M	$16.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.016%Rate

Funding earned: $0
Price spread: −0.016% → −0.043%: $2.73
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$6.77
Costs to cover: 0.095%
Break-even: never at this rate

Slippage unknown: Arcus: live order book, 1 min ago; Ondo Perps: 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 Arcus live order book, 1 min ago	0.17 bp	2.5 bp −$2	3.5 bp −$35	6.0 bp −$604	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Perpl ETH	−0.0335%	43m	2,728.6	−0.032%	$297K	$5.6M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,730.2	+0.028%	$5K	$1K	50x	as long as short
HTX ETH-USDT	−0.0017%	8h	2,727.9	−0.058%	$1.05B	$1.20B	200x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,728.8	−0.024%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,729	−0.016%	$816K	$2.9M	25x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,729.6	+0.006%	$6.2M	$686.0M	4.9x	as long as short
dYdX ETH-USD	+0.0006%	1h	2,729.5	+0.003%	$10.7M	$42.1M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,728.9	−0.018%	$28.0M	—	200x	as long as short
BingX ETH-USDT	+0.0027%	8h	2,728.6	−0.032%	—	$1.14B	—	as long as short
Bullet ETH-USD	+0.0031%	1h	2,728.4	−0.039%	$178K	$1.7M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0036%	8h	2,728.3	−0.042%	$2.36B	$4.38B	150x	as long as short
01 Exchange ETHUSD	+0.0048%	1h	2,729	−0.016%	$187K	$814K	50x	as long as short
SunX ETH-USDT	+0.0062%	8h	2,727.6	−0.067%	$957K	$11.2M	100x	as long as short
KuCoin ETHUSDTM	+0.0066%	8h	2,728.3	−0.042%	$377.3M	$575.1M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0076%	1h	2,729.4	−0.001%	$258.6M	$202.4M	50x	as long as short
OKX ETH-USDT-SWAP	+0.0078%	8h	2,728.3	−0.041%	$1.67B	$10.74B	100x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,725.9	−0.130%	$4.9M	$155K	20x	as long as short
Aster ETHUSDT	+0.0080%	8h	2,728.5	−0.033%	$250.8M	$840.3M	200x	as long as short
Phemex ETHUSDT	+0.0086%	8h	2,728.5	−0.034%	$264.4M	$64.8M	150x	as long as short
Binance ETHUSDT	+0.0087%	8h	2,728.5	−0.034%	$6.32B	$15.94B	150x	as long as short
MEXC ETH_USDT	+0.0087%	8h	2,728.5	−0.034%	$1.56B	$2.58B	500x	as long as short
SoDEX ETH-USD	+0.0088%	1h	2,728.3	−0.042%	$54.3M	$187.8M	40x	as long as short
ApeX Omni ETHUSDT	+0.0089%	1h	2,731	+0.057%	$8.6M	$31.2M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,729.3	−0.007%	$112.3M	$435.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,730.4	+0.034%	$23.4M	$104.7M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,729.3	−0.005%	—	$31.0M	500x	as long as short
Injective ETH/USDC PERP	+0.0096%	1h	2,730.8	+0.050%	$117K	$22.5M	52x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,728.7	−0.027%	$499K	$3.4M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,730.4	+0.034%	$15.5M	$8.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,728.6	−0.031%	$13.9M	$104.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,730.6	+0.042%	$3.09B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,729.8	+0.014%	$31.9M	$334.6M	50x	as long as short
Ondo Perps ETH-USD.Pshort	+0.0100%	1h	2,729	−0.016%	$2.7M	$16.7M	25x
Arcus ETH-USDlong	+0.0100%	1h	2,729.4	long leg	$1.5M	$16.0M	25x
Bulk ETH-USD	+0.0100%	1h	2,728.2	−0.045%	$169.5M	$307.4M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,728.7	−0.026%	$3.33B	$8.95B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,728.4	−0.039%	$2.07B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,728.3	−0.041%	$14.9M	$41.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,728.8	−0.023%	$134.7M	$323.0M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,729.5	+0.002%	$183.6M	$673.1M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,730	+0.022%	$158.8M	$86.9M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,730	+0.021%	$21.0M	$70.5M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,729.5	+0.002%	—	$845K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,730.1	+0.024%	$11.2M	$9.4M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,729.3	−0.007%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,730.1	+0.026%	$41.0M	$29.9M	15x	as long as short
Aftermath Perps ETHUSD	+0.0101%	1h	2,730.4	+0.034%	$30K	$20K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,727.4	−0.075%	$30.5M	$73.5M	50x	as long as short
RISEx ETH/USDC	+0.0107%	1h	2,729.3	−0.004%	$5.6M	$11.7M	25x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,729.7	+0.008%	$50.5M	$4.28B	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0153%	1h	2,729.1	−0.012%	$83.6M	$315.9M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0191%	8h	2,730.6	+0.042%	$32.1M	$11.6M	100x	as long as short
Reya ETHRUSDPERP	+0.0208%	1h	2,727.8	−0.059%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0232%	1h	2,731.3	+0.070%	$246K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0347%	8h	2,728.2	−0.045%	$282.3M	$174.6M	150x	as long as short