Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0076%/8h= +8.3% APRpaid last 24h +0.002%

Price spread now: Vest against Bybit+0.093%47s7-day average +0.031% · you sell dearer than you buy

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

Long on Bybit Short on Vest

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.009%+$1 on $10k

Price spread, last 4 days (all we have)+0.068%+$7 · spread now +0.093%, 7d avg +0.031%

Together, before fees+0.077%+ Points / potential airdropVest: Active · farm board+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Vest is 0.062% dearer against Bybit than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.031%. The two prices were read 47 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	Bybit ETHUSDT	2,727.8	0.0024	pay 0.0024% / 8h	52m 36s	$2.33B	$4.38B	150x
Short	Vest ETH-PERP	2,730.3	0.0100	get 0.0013% / 1h	52m 36s	—	$445K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against Bybit. 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 BybitbpFee VestbpOrdersPrice spread, now +0.093%Rate

Funding earned: $15.97
Price spread: +0.093% → +0.031%: $6.22
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Vest: 1 bp × 2 orders: −$2
Net: $9.19
Costs to cover: 0.130%
Break-even: 3.0 days

Slippage unknown: Bybit: live order book, 2 min ago; Vest: 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 Bybit live order book, 2 min ago	0.02 bp	5.5 bp −$6	5.5 bp −$55	7.6 bp −$765	10.7 bp −$5,336
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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
ApeX Omni ETHUSDT	−0.0132%	1h	2,727.7	−0.003%	$8.6M	$31.6M	100x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,729.6	+0.067%	$5K	$1K	50x	as long as short
Phoenix ETH	−0.0015%	1h	2,730	+0.081%	$812K	$3.0M	25x	as long as short
BloFin ETH-USDT	−0.0011%	8h	2,728.3	+0.017%	$281.5M	$177.2M	150x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,728.6	+0.028%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,730.6	+0.102%	$10.5M	$42.7M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,729.3	+0.056%	$6.5M	$681.1M	4.9x	as long as short
Perpl ETH	0.0000%	43m	2,728.1	+0.012%	$287K	$5.8M	8.3x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,729.2	+0.052%	$262.4M	$212.9M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,728.7	+0.033%	$32.9M	—	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDC	+0.0020%	8h	2,727.1	−0.027%	—	$18.6M	—	as long as short
Bybit ETHUSDTlong	+0.0024%	8h	2,727.8	long leg	$2.33B	$4.38B	150x
HTX ETH-USDT	+0.0030%	8h	2,727.9	+0.003%	$1.05B	$1.22B	200x	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,729.7	+0.070%	$192K	$891K	50x	as long as short
Injective ETH/USDC PERP	+0.0050%	1h	2,731.1	+0.122%	$117K	$20.2M	52x	as long as short
Kraken Futures PF_ETHUSD	+0.0060%	1h	2,728.9	+0.042%	$82.0M	$309.7M	100x	as long as short
KuCoin ETHUSDTM	+0.0068%	8h	2,728.9	+0.039%	$384.8M	$577.7M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0077%	8h	2,727.8	0.000%	$1.65B	$10.85B	100x	as long as short
Aster ETHUSDT	+0.0080%	8h	2,728.7	+0.032%	$252.8M	$848.8M	200x	as long as short
MEXC ETH_USDT	+0.0093%	8h	2,728.1	+0.011%	$1.54B	$2.55B	500x	as long as short
Binance ETHUSDT	+0.0093%	8h	2,728.5	+0.026%	$6.31B	$16.14B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,729.3	+0.055%	$112.6M	$429.0M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,730.3	+0.093%	$23.5M	$101.8M	50x	as long as short
Hibachi ETH/USDT-P	+0.0096%	1h	2,731.5	+0.136%	$242K	$1.4M	20x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,725.8	−0.074%	$4.9M	$179K	20x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,728.4	+0.023%	$502K	$3.5M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,732.3	+0.167%	$15.4M	$7.8M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,728.9	+0.041%	$14.0M	$104.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,731.2	+0.125%	$3.10B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,729.5	+0.063%	$32.2M	$333.8M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,727.7	−0.003%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,729.1	+0.047%	$1.5M	$16.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,729.4	+0.060%	$3.31B	$8.84B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,728.2	+0.016%	$2.10B	$2.77B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,728.6	+0.029%	$15.0M	$41.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,726.9	−0.032%	$133.9M	$319.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,727.6	−0.007%	$185.5M	$682.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,729.3	+0.056%	$158.6M	$83.7M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,729.1	+0.048%	$21.0M	$70.2M	40x	as long as short
Vest ETH-PERPshort	+0.0100%	1h	2,730.3	+0.093%	—	$445K	50x
Polymarket Perps ETH-USD	+0.0100%	1h	2,729.9	+0.078%	$11.2M	$9.5M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,728	+0.008%	$185K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,728.9	+0.040%	$22K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,730.5	+0.100%	$40.9M	$30.1M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,728.4	+0.021%	$957K	$10.9M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,728.3	+0.019%	$54.4M	$187.2M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,728.9	+0.042%	$262.9M	$64.5M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,729	+0.044%	$162.7M	$352.6M	25x	as long as short
Aftermath Perps ETHUSD	+0.0102%	1h	2,729.9	+0.078%	$30K	$20K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,728.1	+0.012%	$30.4M	$72.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0056%	1h	2,729.3	+0.057%	—	$30.5M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,729.3	+0.057%	$46.5M	$4.30B	50x	as long as short
RISEx ETH/USDC	+0.0114%	1h	2,729.4	+0.059%	$5.6M	$11.7M	25x	as long as short
Orderly PERP_ETH_USDC	+0.0185%	8h	2,730.3	+0.091%	$32.2M	$11.3M	100x	as long as short
Reya ETHRUSDPERP	+0.0185%	1h	2,727.3	−0.018%	$7.3M	$975K	25x	as long as short