Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0261%/8h= −28.6% APRpaid last 24h +0.012%

Price spread now: Bluefin against BloFin−0.011%114s7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$8 a day on $10k at the current rate. The two prices were read 114 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ETH-USDT	2,749.6	0.0361	pay 0.0361% / 8h	5h 57m	$283.3M	$150.4M	150x
Short	Bluefin ETH-PERP	2,749.3	0.0100	get 0.0013% / 1h	57m 27s	$20K	$14K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against BloFin. 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 BloFinbpFee BluefinbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$54.86
Price spread: −0.011% → 0.000%: −$1.09
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$74.95
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 5 min ago; Bluefin: 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 BloFin live order book, 5 min ago	0.35 bp	6.3 bp −$6	6.5 bp −$65	7.5 bp −$753	9.9 bp −$4,933
Sell Bluefin no order-book sample	—	—	—	—	—

Bluefin: 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 54 exchanges

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
Hibachi ETH/USDT-P	−0.0128%	1h	2,750.1	+0.018%	$235K	$1.2M	20x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,749.4	−0.008%	$5K	$1K	50x	as long as short
Phoenix ETH	−0.0023%	1h	2,750	+0.014%	$809K	$2.8M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0009% / S +0.0043%	1h	2,749.7	+0.004%	$12.2M	—	200x	as long as short
Bybit ETHUSDT	0.0000%	8h	2,749.3	−0.010%	$2.37B	$3.83B	150x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,750.2	+0.021%	$7.2M	$661.5M	4.9x	as long as short
Perpl ETH	0.0000%	43m	2,749.9	+0.011%	$269K	$5.0M	8.3x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,749.9	+0.011%	$33.2M	—	200x	as long as short
ApeX Omni ETHUSDT	+0.0024%	1h	2,748.5	−0.040%	$8.3M	$25.3M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0068%	8h	2,749.3	−0.011%	$1.67B	$9.27B	100x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ETHUSD	+0.0072%	1h	2,749.3	−0.011%	$182K	$951K	50x	as long as short
Gate ETH_USDT	+0.0081%	8h	2,749.5	−0.006%	$3.27B	$7.68B	200x	as long as short
Aster ETHUSDT	+0.0084%	8h	2,749.7	+0.004%	$257.6M	$723.2M	200x	as long as short
KuCoin ETHUSDTM	+0.0088%	8h	2,748.6	−0.038%	$365.2M	$443.0M	100x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,748.9	−0.026%	$4.9M	$213K	20x	as long as short
MEXC ETH_USDT	+0.0090%	8h	2,749.6	0.000%	$1.61B	$2.34B	500x	as long as short
Binance ETHUSDT	+0.0090%	8h	2,749.4	−0.006%	$6.41B	$14.11B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,749.1	−0.020%	$114.1M	$382.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,750.3	+0.024%	$23.7M	$93.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,749	−0.021%	—	$23.6M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0096%	1h	2,750.6	+0.037%	$46.2M	$3.91B	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,748.3	−0.048%	$507K	$3.4M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,748.5	−0.039%	$14.6M	$96.2M	50x	as long as short
Pacifica ETH	+0.0100%	1h	2,749.7	+0.002%	$32.4M	$325.1M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,748.7	−0.033%	$2.8M	$14.2M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,749.6	−0.001%	$1.5M	$14.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,748.6	−0.037%	$165.1M	$334.7M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,748.6	−0.036%	$2.11B	$2.31B	150x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,749.6	+0.001%	—	$945.8M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,749	−0.021%	$14.9M	$36.3M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,747.4	−0.079%	$132.5M	$292.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,747.4	−0.081%	$185.1M	$624.7M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,750.1	+0.018%	$159.9M	$69.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,750.6	+0.036%	$21.1M	$75.7M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,750.5	+0.031%	—	$352K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,750.4	+0.029%	$11.3M	$8.6M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,749.7	+0.005%	$178K	$1.7M	20x	as long as short
Bluefin ETH-PERPshort	+0.0100%	1h	2,749.3	−0.011%	$20K	$14K	25x
SunX ETH-USDT	+0.0100%	8h	2,749.2	−0.013%	$948K	$8.7M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,749.7	+0.003%	$61.9M	$121.9M	40x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,749.8	+0.007%	$1.05B	$1.05B	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,749.6	−0.002%	$264.3M	$57.4M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,747.6	−0.074%	$30.5M	$65.3M	50x	as long as short
Aftermath Perps ETHUSD	+0.0104%	1h	2,749.1	−0.020%	$30K	$8K	20x	as long as short
Kraken Futures PF_ETHUSD	+0.0105%	1h	2,750	+0.013%	$82.5M	$275.4M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0106%	1h	2,750.8	+0.042%	$266.7M	$186.1M	50x	as long as short
Reya ETHRUSDPERP	+0.0157%	1h	2,747.7	−0.068%	$7.3M	$832K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0175%	8h	2,751.8	+0.079%	$32.5M	$10.0M	100x	as long as short
dYdX ETH-USD	+0.0189%	1h	2,749.3	−0.012%	$15.3M	$42.8M	50x	as long as short
RISEx ETH/USDC	+0.0206%	1h	2,750.3	+0.027%	$5.7M	$10.6M	25x	as long as short
Hyperliquid ETH	+0.0241%	1h	2,751.9	+0.083%	$3.16B	$1.75B	25x	as long as short
BloFin ETH-USDTlong	+0.0361%	8h	2,749.6	long leg	$283.3M	$150.4M	150x
Injective ETH/USDC PERP	+0.0461%	1h	2,751.5	+0.069%	$118K	$21.7M	52x	as long as short
Paradex ETH-USD-PERP	+0.0508%	8h	2,754	+0.160%	$15.9M	$6.2M	50x	as long as short