Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h −0.009%

Price spread now: 01 Exchange against Bitget−0.014%7-day average −0.003% · 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−$25as in the Price arb table

costs, in and out, $10k−$240.243% of the position

Long on Bitget Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.035%−$4 on $10k

Price spread, last 7 days+0.006%+$1 · spread now −0.014%, 7d avg −0.003%

Together, before fees−0.030%−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.003%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ETHUSDT	2,731	0.0100	pay 0.0100% / 8h	7h 40m	$2.11B	$2.75B	150x
Short	01 Exchange ETHUSD	2,730.6	0.0048	get 0.0006% / 1h	40m 26s	$191K	$884K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.014%Rate

Funding earned: −$10.92
Price spread: −0.014% → −0.003%: −$1.13
Slippage, 4 orders: −$5.32
Fee Bitget: 6 bp × 2 orders: −$12
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$36.37
Costs to cover: 0.243%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; 01 Exchange: live order book, 59 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 Bitget live order book, 4 min ago	0.02 bp	6.0 bp −$6	6.0 bp −$60	6.3 bp −$628	7.2 bp −$3,579
Sell 01 Exchange live order book, 59 min ago	0.18 bp	6.8 bp −$7	11.1 bp −$111	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
BloFin ETH-USDT	−0.0179%	8h	2,729.2	−0.064%	$280.4M	$177.6M	150x	as long as short
Perpl ETH	−0.0112%	43m	2,731	0.000%	$277K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,729.4	−0.058%	$5K	$1K	50x	as long as short
HTX ETH-USDT	−0.0072%	8h	2,729.2	−0.064%	$1.05B	$1.21B	200x	as long as short
Bybit ETHUSDT	−0.0037%	8h	2,730.1	−0.033%	$2.32B	$4.30B	150x	as long as short
Phemex ETHUSDT	−0.0016%	8h	2,729.2	−0.066%	$263.0M	$63.8M	150x	as long as short
Phoenix ETH	−0.0012%	1h	2,733	+0.074%	$807K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,732.4	+0.051%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,731.2	+0.006%	$10.6M	$41.9M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,730.2	−0.029%	$6.7M	$671.4M	4.9x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ETH-PERPETUAL	0.0000%	1h	2,731.7	+0.026%	$264.6M	$219.0M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,730.9	−0.003%	$32.9M	—	200x	as long as short
SunX ETH-USDT	+0.0031%	8h	2,729.4	−0.060%	$940K	$10.7M	100x	as long as short
Gate ETH_USDT	+0.0039%	8h	2,730.4	−0.021%	$3.28B	$8.24B	200x	as long as short
01 Exchange ETHUSDshort	+0.0048%	1h	2,730.6	−0.014%	$191K	$884K	50x
SoDEX ETH-USD	+0.0054%	1h	2,729.2	−0.066%	$54.4M	$182.5M	40x	as long as short
Hibachi ETH/USDT-P	+0.0064%	1h	2,730.7	−0.012%	$237K	$1.4M	20x	as long as short
OKX ETH-USDT-SWAP	+0.0078%	8h	2,730.3	−0.026%	$1.65B	$10.73B	100x	as long as short
ApeX Omni ETHUSDT	+0.0078%	1h	2,730.8	−0.005%	$8.4M	$31.2M	100x	as long as short
Aster ETHUSDT	+0.0081%	8h	2,730.3	−0.025%	$252.7M	$849.2M	200x	as long as short
KuCoin ETHUSDTM	+0.0084%	8h	2,729.3	−0.063%	$383.0M	$575.9M	100x	as long as short
MEXC ETH_USDT	+0.0091%	8h	2,729.7	−0.047%	$1.57B	$2.55B	500x	as long as short
Binance ETHUSDT	+0.0091%	8h	2,730.3	−0.025%	$6.32B	$16.05B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,731	0.000%	$112.5M	$401.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,732	+0.038%	$23.7M	$95.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,731.7	+0.024%	—	$30.4M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,727.9	−0.114%	$4.9M	$195K	20x	as long as short
Bullet ETH-USD	+0.0098%	1h	2,729.9	−0.040%	$177K	$1.7M	20x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,729.9	−0.040%	$498K	$3.5M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,733.9	+0.106%	$15.4M	$7.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,730.1	−0.031%	$14.2M	$100.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,731.6	+0.022%	$3.11B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,731.4	+0.015%	$32.0M	$332.0M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,730.1	−0.033%	$2.7M	$16.5M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,730.4	−0.022%	$1.6M	$15.8M	25x	as long as short
Bitget ETHUSDTlong	+0.0100%	8h	2,731	long leg	$2.11B	$2.75B	150x
BingX ETH-USDT	+0.0100%	8h	2,730.3	−0.026%	—	$1.05B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,729.8	−0.044%	$15.2M	$39.9M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,728.7	−0.083%	$131.4M	$316.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,731.1	+0.004%	$185.8M	$686.3M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,730.9	−0.003%	$158.8M	$79.8M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,732.5	+0.055%	$21.0M	$70.8M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,731.4	+0.015%	—	$441K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,730.4	−0.022%	$11.2M	$9.3M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,731.1	+0.003%	$40.6M	$29.2M	15x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,730.8	−0.007%	$162.8M	$334.7M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,729	−0.073%	$30.5M	$71.2M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0105%	1h	2,730.1	−0.034%	$81.9M	$309.8M	100x	as long as short
Aftermath Perps ETHUSD	+0.0113%	1h	2,731.2	+0.006%	$30K	$20K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,730.5	−0.018%	$46.3M	$4.24B	50x	as long as short
RISEx ETH/USDC	+0.0137%	1h	2,730.6	−0.013%	$5.7M	$11.4M	25x	as long as short
Reya ETHRUSDPERP	+0.0173%	1h	2,728.8	−0.081%	$7.3M	$972K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0185%	8h	2,732.9	+0.069%	$32.2M	$11.3M	100x	as long as short
Injective ETH/USDC PERP	+0.0253%	1h	2,730	−0.036%	$117K	$20.2M	52x	as long as short
Bluefin ETH-PERP	+0.2615%	1h	2,731	+0.001%	$20K	$23K	25x	as long as short