Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0025%/8h= +2.7% APRpaid last 24h +0.024%

Price spread now: Hibachi against Aster+0.050%7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$220.218% of the position

Long on Aster Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.254%−$25 on $10k

Price spread, last 7 days−0.008%−$1 · spread now +0.050%, 7d avg +0.024%

Together, before fees−0.262%+ Points / potential airdropAster: Stage 5 · Hibachi: Active · farm board−$26 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Hibachi is 0.027% dearer against Aster than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.024%. Mind the row above: over the last 7 days funding on this pair cost −0.254%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ETHUSDT	2,771.9	0.0031	pay 0.0031% / 8h	1h 50m	$256.3M	$992.8M	200x
Short	Hibachi ETH/USDT-P	2,773.3	0.0056	get 0.0007% / 1h	50m 25s	$287K	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against Aster. 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 AsterbpFee HibachibpOrdersPrice spread, now +0.050%Rate

Funding earned: $5.24
Price spread: +0.050% → +0.024%: $2.66
Slippage, 4 orders: −$4.8
Fee Aster: 4 bp × 2 orders: −$8
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$13.9
Costs to cover: 0.218%
Break-even: 25.6 days

Slippage from Aster: live order book, 4 min ago; Hibachi: live order book, 4 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 Aster live order book, 4 min ago	0.02 bp	4.0 bp −$4	4.3 bp −$43	6.0 bp −$601	10.3 bp −$5,163
Sell Hibachi live order book, 4 min ago	0.38 bp	7.3 bp −$7	12.6 bp −$126	doesn't fit	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	2,772.4	+0.016%	$289K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,772.8	+0.033%	$5.7M	$12.1M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,773.1	+0.042%	$5K	$2K	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,773.3	+0.050%	$119K	$22.5M	52x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,772.6	+0.024%	$169K	$1.2M	50x	as long as short
Aftermath Perps ETHUSD	−0.0007%	1h	2,771.9	0.000%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,772.8	+0.031%	$12.7M	$45.5M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,772	+0.003%	$884K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,772.1	+0.004%	$22.4M	—	200x	as long as short
BingX ETH-USDT	+0.0018%	8h	2,771.2	−0.025%	—	$1.18B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0021%	8h	2,771	−0.033%	$1.71B	$11.83B	100x	as long as short
Phemex ETHUSDT	+0.0023%	8h	2,770.8	−0.042%	$266.9M	$65.7M	150x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,772.4	+0.016%	$13.2M	—	200x	as long as short
Aster ETHUSDTlong	+0.0031%	8h	2,771.9	long leg	$256.3M	$992.8M	200x
Nado ETH-PERP	+0.0034%	1h	2,772.8	+0.030%	$14.3M	$118.5M	50x	as long as short
Bullet ETH-USD	+0.0038%	1h	2,771.7	−0.008%	$182K	$1.8M	20x	as long as short
Binance ETHUSDT	+0.0053%	8h	2,771.7	−0.007%	$6.44B	$17.16B	150x	as long as short
MEXC ETH_USDT	+0.0053%	8h	2,772	+0.004%	$1.61B	$2.64B	500x	as long as short
Hibachi ETH/USDT-Pshort	+0.0056%	1h	2,773.3	+0.050%	$287K	$1.5M	20x
Aevo ETH-PERP	+0.0056%	1h	2,770.8	−0.042%	$5.0M	$636K	20x	as long as short
SoDEX ETH-USD	+0.0070%	1h	2,771.3	−0.023%	$55.2M	$228.6M	40x	as long as short
Bitget ETHUSDT	+0.0073%	8h	2,771.3	−0.023%	$2.10B	$3.11B	150x	as long as short
Gate ETH_USDT	+0.0083%	8h	2,771.5	−0.015%	$3.28B	$9.54B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,773.4	+0.051%	$115.0M	$495.9M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,774.8	+0.105%	$25.4M	$120.7M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,771.5	−0.015%	—	$41.4M	500x	as long as short
HTX ETH-USDT	+0.0097%	8h	2,770.3	−0.060%	$1.08B	$1.32B	200x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,772.5	+0.020%	$15.9M	$10.6M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,773	+0.039%	$481K	$2.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,774.3	+0.086%	$3.19B	$2.38B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,773.3	+0.050%	$31.2M	$293.6M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,771.2	−0.026%	$2.51B	$4.61B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,772.6	+0.024%	$2.8M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,774.7	+0.100%	$2.8M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,770.6	−0.048%	$166.0M	$246.3M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,773	+0.037%	$424.1M	$738.6M	100x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,771.3	−0.022%	$15.2M	$44.0M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,770.1	−0.067%	$135.6M	$326.7M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,772.5	+0.022%	$179.7M	$779.2M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,776.1	+0.151%	$161.5M	$95.8M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,771.8	−0.005%	$8.7M	$32.7M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,772	+0.003%	$21.4M	$57.9M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,773.4	+0.053%	$10.8M	$7.7M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,772.6	+0.025%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,773.7	+0.066%	$42.7M	$29.3M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,771	−0.035%	$971K	$14.0M	100x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,772.6	+0.023%	—	$1.1M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0103%	1h	2,773.3	+0.049%	$258.4M	$224.3M	50x	as long as short
Extended ETH-USD	+0.0104%	1h	2,770.7	−0.045%	$31.4M	$75.1M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,772.8	+0.031%	$59.9M	$4.60B	50x	as long as short
Kalshi KXETHPERP	+0.0108%	8h	2,772.1	+0.006%	$8.5M	$673.2M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0138%	8h	2,774.1	+0.079%	$32.5M	$12.0M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0170%	1h	2,772.6	+0.023%	$86.1M	$330.7M	100x	as long as short
BloFin ETH-USDT	+0.0173%	8h	2,771	−0.033%	$285.0M	$194.9M	150x	as long as short
Reya ETHRUSDPERP	+0.0188%	1h	2,771.9	−0.002%	$7.4M	$1.1M	25x	as long as short