Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0022%/8h= −2.4% APRpaid last 24h −0.036%

Price spread now: RISEx against BloFin−0.015%7-day average +0.024% · 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−$24as in the Price arb table

costs, in and out, $10k−$200.195% of the position

Long on BloFin Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.096%−$10 on $10k

Price spread, last 4 days (all we have)+0.102%+$10 · spread now −0.015%, 7d avg +0.024%

Together, before fees+0.007%+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and RISEx is 0.040% cheaper against BloFin than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.024%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ETH-USDT	2,730.7	0.0159	pay 0.0159% / 8h	7h 56m	$283.1M	$177.9M	150x
Short	RISEx ETH/USDC	2,730.3	0.0137	get 0.0017% / 1h	56m 08s	$5.6M	$11.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.015%Rate

Funding earned: −$4.63
Price spread: −0.015% → +0.024%: −$3.98
Slippage, 4 orders: −$1.55
Fee BloFin: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$28.16
Costs to cover: 0.195%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; RISEx: live order book, 3 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 BloFin live order book, 3 min ago	0.04 bp	6.0 bp −$6	6.3 bp −$63	6.9 bp −$691	7.8 bp −$3,917
Sell RISEx live order book, 3 min ago	0.02 bp	3.3 bp −$3	4.5 bp −$45	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	2,730.6	−0.004%	$276K	$5.7M	8.3x	as long as short
Phemex ETHUSDT	−0.0210%	8h	2,727.9	−0.101%	$262.8M	$63.9M	150x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,727.9	−0.102%	$5K	$1K	50x	as long as short
Phoenix ETH	−0.0015%	1h	2,728.7	−0.073%	$805K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,728.3	−0.089%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,730	−0.025%	$10.5M	$41.8M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,729.8	−0.032%	$6.7M	$672.5M	4.9x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,728.5	−0.081%	$264.5M	$218.6M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,728.2	−0.090%	$32.9M	—	200x	as long as short
01 Exchange ETHUSD	+0.0072%	1h	2,730.4	−0.010%	$191K	$884K	50x	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	+0.0078%	8h	2,727.8	−0.105%	$1.65B	$10.73B	100x	as long as short
HTX ETH-USDT	+0.0079%	8h	2,727.8	−0.106%	$1.05B	$1.22B	200x	as long as short
Hibachi ETH/USDT-P	+0.0080%	1h	2,730.8	+0.004%	$242K	$1.4M	20x	as long as short
KuCoin ETHUSDTM	+0.0084%	8h	2,728	−0.098%	$383.5M	$576.3M	100x	as long as short
Aster ETHUSDT	+0.0087%	8h	2,728.6	−0.076%	$252.2M	$851.2M	200x	as long as short
ApeX Omni ETHUSDT	+0.0089%	1h	2,726.3	−0.159%	$8.4M	$31.2M	100x	as long as short
MEXC ETH_USDT	+0.0094%	8h	2,728.1	−0.096%	$1.56B	$2.54B	500x	as long as short
Binance ETHUSDT	+0.0095%	8h	2,728.1	−0.094%	$6.31B	$16.09B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,728.6	−0.078%	$112.2M	$400.1M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,729.9	−0.029%	$23.6M	$95.4M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,730.9	+0.008%	—	$30.1M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,726	−0.171%	$4.9M	$191K	20x	as long as short
Aftermath Perps ETHUSD	+0.0097%	1h	2,726.8	−0.142%	$30K	$20K	20x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,729.3	−0.051%	$500K	$3.6M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,732.8	+0.078%	$15.4M	$7.4M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,729.3	−0.052%	$14.1M	$104.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,731	+0.012%	$3.10B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,730.8	+0.003%	$32.1M	$332.5M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,727.8	−0.104%	$2.32B	$4.32B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,729.8	−0.032%	$2.7M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,729.8	−0.032%	$1.6M	$15.9M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,727.1	−0.131%	$161.7M	$337.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,728.1	−0.096%	$3.30B	$8.19B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,727.4	−0.120%	$2.11B	$2.76B	150x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,727.8	−0.104%	—	$18.6M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,727.6	−0.111%	$15.2M	$40.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,723	−0.283%	$131.2M	$318.7M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,725	−0.209%	$185.4M	$683.0M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,725.7	−0.184%	$158.4M	$81.2M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,730.1	−0.021%	$21.0M	$70.3M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,730.6	−0.002%	—	$445K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,730	−0.025%	$11.2M	$9.4M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,728.4	−0.083%	$179K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,728.9	−0.066%	$20K	$23K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,731.7	+0.036%	$40.6M	$29.2M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,727.7	−0.109%	$955K	$10.7M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,728	−0.098%	$54.3M	$182.6M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,727.1	−0.131%	$30.4M	$71.1M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0105%	1h	2,728.3	−0.086%	$81.9M	$310.4M	100x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,729.1	−0.060%	$46.6M	$4.25B	50x	as long as short
RISEx ETH/USDCshort	+0.0137%	1h	2,730.3	−0.015%	$5.6M	$11.6M	25x
BloFin ETH-USDTlong	+0.0159%	8h	2,730.7	long leg	$283.1M	$177.9M	150x
Reya ETHRUSDPERP	+0.0176%	1h	2,727.7	−0.108%	$7.3M	$972K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0186%	8h	2,730.6	−0.005%	$32.2M	$11.3M	100x	as long as short
Injective ETH/USDC PERP	+0.0253%	1h	2,728.7	−0.073%	$117K	$19.0M	52x	as long as short