Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0018%/8h= +2.0% APRpaid last 24h +0.006%

Price spread now: Pacifica against Aster+0.089%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$8as in the Price arb table

costs, in and out, $10k−$170.166% of the position

Long on Aster Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 7 days−0.089%−$9 · spread now +0.089%, 7d avg +0.002%

Together, before fees−0.074%+ Points / potential airdropAster: Stage 5 · Pacifica: Active · farm board−$7 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 Pacifica is 0.087% dearer against Aster than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ETHUSDT	2,738	0.0082	pay 0.0082% / 8h	4h 58m	$253.3M	$840.5M	200x
Short	Pacifica ETH	2,740.5	0.0100	get 0.0013% / 1h	58m 21s	$31.7M	$335.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.089%Rate

Funding earned: $3.8
Price spread: +0.089% → +0.002%: $8.7
Slippage, 4 orders: −$0.57
Fee Aster: 4 bp × 2 orders: −$8
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$4.08
Costs to cover: 0.166%
Break-even: 14.5 days

Slippage from Aster: live order book, 6 min ago; Pacifica: live order book, 6 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, 6 min ago	0.09 bp	4.1 bp −$4	4.3 bp −$43	5.8 bp −$576	11.7 bp −$5,847
Sell Pacifica live order book, 6 min ago	0.18 bp	4.2 bp −$4	4.2 bp −$42	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
Injective ETH/USDC PERP	−0.0141%	1h	2,738.7	+0.025%	$118K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,740.6	+0.094%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,738	0.000%	$12.0M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,740.1	+0.075%	$10.8M	$41.7M	50x	as long as short
Perpl ETH	0.0000%	43m	2,739.7	+0.061%	$301K	$5.5M	8.3x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,738	0.000%	$25.3M	—	200x	as long as short
01 Exchange ETHUSD	+0.0008%	1h	2,738.8	+0.028%	$182K	$834K	50x	as long as short
Phoenix ETH	+0.0017%	1h	2,741.1	+0.112%	$847K	$2.9M	25x	as long as short
SoDEX ETH-USD	+0.0027%	1h	2,737.3	−0.027%	$54.5M	$187.6M	40x	as long as short
ApeX Omni ETHUSDT	+0.0039%	1h	2,740.1	+0.074%	$8.8M	$30.7M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack ETH_USDC_PERP	+0.0050%	1h	2,739	+0.034%	$15.0M	$39.5M	50x	as long as short
BingX ETH-USDT	+0.0054%	8h	2,737.3	−0.028%	—	$1.14B	—	as long as short
OKX ETH-USDT-SWAP	+0.0069%	8h	2,736.2	−0.067%	$1.69B	$10.55B	100x	as long as short
KuCoin ETHUSDTM	+0.0071%	8h	2,737.7	−0.011%	$380.9M	$573.3M	100x	as long as short
Aster ETHUSDTlong	+0.0082%	8h	2,738	long leg	$253.3M	$840.5M	200x
Bullet ETH-USD	+0.0084%	1h	2,737.8	−0.010%	$181K	$1.7M	20x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,735.3	−0.100%	$4.9M	$154K	20x	as long as short
MEXC ETH_USDT	+0.0090%	8h	2,737.8	−0.007%	$1.56B	$2.51B	500x	as long as short
Binance ETHUSDT	+0.0090%	8h	2,736.6	−0.053%	$6.36B	$15.69B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,736.8	−0.044%	$112.4M	$429.5M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,738.2	+0.007%	$24.6M	$102.7M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,740.7	+0.098%	—	$30.4M	500x	as long as short
RISEx ETH/USDC	+0.0099%	1h	2,739.4	+0.049%	$5.6M	$11.4M	25x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,743.8	+0.212%	$15.9M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,738.9	+0.032%	$493K	$3.1M	50x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,736.7	−0.049%	$1.06B	$1.18B	200x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,738.2	+0.006%	$13.9M	$104.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,740.1	+0.076%	$3.11B	$2.06B	25x	as long as short
Pacifica ETHshort	+0.0100%	1h	2,740.5	+0.089%	$31.7M	$335.1M	50x
Bybit ETHUSDT	+0.0100%	8h	2,736.1	−0.071%	$2.43B	$4.18B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,740.3	+0.083%	$2.7M	$16.9M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,739.6	+0.056%	$2.8M	$16.3M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,739.7	+0.062%	$165.8M	$302.8M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,738	0.000%	$3.39B	$8.65B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,737.6	−0.017%	$2.08B	$2.72B	150x	as long as short
Variational Omni ETH	+0.0100%	8h	2,739	+0.034%	$133.0M	$324.9M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,738.7	+0.026%	$182.0M	$667.2M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,739.9	+0.068%	$159.3M	$83.5M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,739.3	+0.046%	$21.2M	$69.5M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,739.5	+0.054%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,739.3	+0.046%	$10.9M	$8.8M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,739.1	+0.039%	$41.4M	$29.7M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,737.5	−0.018%	$960K	$11.4M	100x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,736.8	−0.043%	$265.9M	$65.1M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,736.7	−0.050%	$30.6M	$72.3M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,739	+0.034%	$54.0M	$4.25B	50x	as long as short
Aftermath Perps ETHUSD	+0.0137%	1h	2,740.7	+0.097%	$30K	$20K	20x	as long as short
Deribit ETH-PERPETUAL	+0.0137%	1h	2,738.6	+0.021%	$260.0M	$194.8M	50x	as long as short
Kalshi KXETHPERP	+0.0158%	8h	2,739.6	+0.057%	$7.6M	$672.4M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0195%	8h	2,739.7	+0.060%	$32.2M	$11.4M	100x	as long as short
BloFin ETH-USDT	+0.0210%	8h	2,739.4	+0.050%	$285.5M	$177.8M	150x	as long as short
Kraken Futures PF_ETHUSD	+0.0222%	1h	2,737.7	−0.012%	$86.0M	$309.7M	100x	as long as short
Reya ETHRUSDPERP	+0.0225%	1h	2,737.1	−0.035%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,739.1	+0.040%	$251K	$1.4M	20x	as long as short
Bluefin ETH-PERP	+0.3321%	1h	2,765.3	+0.995%	$21K	$20K	25x	as long as short