Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.016%

Price spread now: Ondo Perps against Bitget−0.107%7-day average −0.017% · you buy dearer than you sell

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

Long on Bitget Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.083%+$8 on $10k

Price spread, last 7 days−0.102%−$10 · spread now −0.107%, 7d avg −0.017%

Together, before fees−0.019%+ Points / potential airdropOndo Perps: Active · farm board−$2 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 0.090% cheaper against Bitget than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ETHUSDT	2,747.9	0.0100	pay 0.0100% / 8h	5h 22m	$2.09B	$2.72B	150x
Short	Ondo Perps ETH-USD.P	2,745	0.0100	get 0.0013% / 1h	22m 16s	$2.7M	$16.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Bitget. 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 BitgetbpFee Ondo PerpsbpOrdersPrice spread, now −0.107%Rate

Funding earned: $0
Price spread: −0.107% → −0.017%: −$8.98
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$25.98
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 2 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 Bitget live order book, 2 min ago	0.02 bp	6.0 bp −$6	6.0 bp −$60	7.3 bp −$728	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
Hotstuff ETH-PERP	−0.0080%	1h	2,744.9	−0.110%	$5K	$1K	50x	as long as short
Injective ETH/USDC PERP	−0.0044%	1h	2,742.7	−0.190%	$118K	$22.5M	52x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0009% / S +0.0043%	1h	2,747.9	0.000%	$12.1M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,746	−0.072%	$10.8M	$41.7M	50x	as long as short
Perpl ETH	0.0000%	43m	2,747.1	−0.029%	$305K	$5.6M	8.3x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,748	+0.004%	$25.0M	—	200x	as long as short
Phoenix ETH	+0.0017%	1h	2,742.3	−0.205%	$847K	$2.9M	25x	as long as short
01 Exchange ETHUSD	+0.0032%	1h	2,747.9	−0.001%	$182K	$863K	50x	as long as short
ApeX Omni ETHUSDT	+0.0034%	1h	2,742.2	−0.208%	$8.8M	$30.8M	100x	as long as short
BingX ETH-USDC	+0.0051%	8h	2,748.3	+0.013%	—	$18.4M	—	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	+0.0066%	8h	2,746.1	−0.066%	$1.71B	$10.56B	100x	as long as short
KuCoin ETHUSDTM	+0.0069%	8h	2,748	+0.001%	$382.6M	$577.8M	100x	as long as short
Bullet ETH-USD	+0.0075%	1h	2,747.5	−0.016%	$183K	$1.7M	20x	as long as short
RISEx ETH/USDC	+0.0077%	1h	2,747.9	0.000%	$5.6M	$11.4M	25x	as long as short
Aster ETHUSDT	+0.0087%	8h	2,747.3	−0.023%	$253.5M	$841.5M	200x	as long as short
MEXC ETH_USDT	+0.0094%	8h	2,747.3	−0.025%	$1.55B	$2.55B	500x	as long as short
Binance ETHUSDT	+0.0095%	8h	2,747.7	−0.008%	$6.39B	$15.66B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,747.8	−0.006%	$112.9M	$434.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,748	+0.001%	$24.6M	$104.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,745.4	−0.094%	—	$30.5M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,745.3	−0.095%	$4.9M	$154K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0096%	1h	2,749.4	+0.053%	$58.4M	$4.26B	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,751.3	+0.121%	$16.0M	$7.9M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,747.2	−0.027%	$471K	$3.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,747.5	−0.016%	$13.9M	$105.1M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,750.1	+0.079%	$3.12B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,747.6	−0.012%	$31.7M	$334.4M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,746.6	−0.050%	$2.45B	$4.17B	150x	as long as short
Ondo Perps ETH-USD.Pshort	+0.0100%	1h	2,745	−0.107%	$2.7M	$16.8M	25x
Arcus ETH-USD	+0.0100%	1h	2,747.8	−0.005%	$2.7M	$16.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,742.3	−0.205%	$165.2M	$299.1M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,747.8	−0.004%	$3.39B	$8.75B	200x	as long as short
Bitget ETHUSDTlong	+0.0100%	8h	2,747.9	long leg	$2.09B	$2.72B	150x
Backpack ETH_USDC_PERP	+0.0100%	1h	2,744.3	−0.132%	$15.0M	$39.8M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,740	−0.289%	$132.7M	$328.0M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,741	−0.252%	$182.2M	$672.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,738.9	−0.327%	$159.3M	$84.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,745.1	−0.103%	$21.2M	$67.7M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,747.8	−0.003%	—	$815K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,748.7	+0.028%	$11.0M	$8.8M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,749.5	+0.056%	$41.6M	$29.7M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,747.1	−0.032%	$963K	$11.5M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,747.5	−0.016%	$54.7M	$187.5M	40x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,746.9	−0.037%	$1.06B	$1.18B	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,747.7	−0.010%	$267.2M	$64.8M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,747	−0.032%	$30.6M	$71.9M	50x	as long as short
Aftermath Perps ETHUSD	+0.0126%	1h	2,744.1	−0.139%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0160%	8h	2,747.1	−0.030%	$7.5M	$669.6M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0192%	8h	2,750.4	+0.089%	$32.3M	$11.4M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0221%	1h	2,748.5	+0.022%	$86.8M	$310.1M	100x	as long as short
Reya ETHRUSDPERP	+0.0228%	1h	2,747.2	−0.025%	$7.3M	$1.1M	25x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,746	−0.070%	$252K	$1.4M	20x	as long as short
Deribit ETH-PERPETUAL	+0.0252%	1h	2,749.4	+0.053%	$259.8M	$196.7M	50x	as long as short
Bluefin ETH-PERP	+0.0275%	1h	2,748.3	+0.013%	$21K	$20K	25x	as long as short
BloFin ETH-USDT	+0.0346%	8h	2,744.6	−0.120%	$285.8M	$181.2M	150x	as long as short