Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0091%/8h= −10.0% APRpaid last 24h −0.001%

Price spread now: edgeX against Deribit−0.077%75s7-day average −0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$210.205% of the position

Long on Deribit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.072%+$7 on $10k

Price spread, last 3 days (all we have)+0.045%+$4 · spread now −0.077%, 7d avg −0.065%

Together, before fees+0.117%+ Points / potential airdropedgeX: Active · farm board+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.065%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.072%, so the current rate has only just turned against you. The two prices were read 75 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	Deribit ETH-PERPETUAL	2,747	0.0191	pay 0.0024% / 1h	8m 20s	$258.8M	$200.1M	50x
Short	edgeX ETHUSDC	2,744.9	0.0100	get 0.0050% / 4h	2h 08m	$181.5M	$699.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Deribit. 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 DeribitbpFee edgeXbpOrdersPrice spread, now −0.077%Rate

Funding earned: −$19.11
Price spread: −0.077% → −0.065%: −$1.24
Slippage, 4 orders: −$4.5
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$40.85
Costs to cover: 0.205%
Break-even: never at this rate

Slippage from Deribit: live order book, 1 min ago; edgeX: live order book, 1 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 Deribit live order book, 1 min ago	0.91 bp	4.6 bp −$5	5.4 bp −$54	9.8 bp −$977	17.4 bp −$8,678
Sell edgeX live order book, 1 min ago	0.15 bp	4.6 bp −$5	4.6 bp −$46	4.8 bp −$483	6.3 bp −$3,149

ETH on 54 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	−0.0112%	43m	2,743.2	−0.140%	$310K	$5.8M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,742.6	−0.162%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,744.5	−0.093%	$5.7M	$11.2M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,746.2	−0.031%	$12.1M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,748.5	+0.053%	$848K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,743.3	−0.136%	$10.8M	$42.1M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,746.4	−0.022%	$22.2M	—	200x	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,745.4	−0.060%	$181K	$1.1M	50x	as long as short
BingX ETH-USDT	+0.0040%	8h	2,746.2	−0.031%	—	$1.17B	—	as long as short
OKX ETH-USDT-SWAP	+0.0052%	8h	2,745.9	−0.041%	$1.69B	$10.83B	100x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni ETHUSDT	+0.0054%	1h	2,744.9	−0.077%	$8.8M	$31.5M	100x	as long as short
HTX ETH-USDT	+0.0064%	8h	2,743	−0.146%	$1.06B	$1.20B	200x	as long as short
KuCoin ETHUSDTM	+0.0066%	8h	2,744.8	−0.083%	$370.3M	$609.4M	100x	as long as short
Aster ETHUSDT	+0.0068%	8h	2,745.2	−0.067%	$253.5M	$857.1M	200x	as long as short
MEXC ETH_USDT	+0.0080%	8h	2,745.8	−0.045%	$1.57B	$2.58B	500x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,744.3	−0.101%	$4.9M	$167K	20x	as long as short
Binance ETHUSDT	+0.0080%	8h	2,746.1	−0.033%	$6.38B	$16.18B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,743.8	−0.117%	$58.7M	$4.32B	50x	as long as short
Gate ETH_USDT	+0.0092%	8h	2,746.6	−0.016%	$3.39B	$8.94B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,744.2	−0.104%	$112.9M	$444.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,745.5	−0.057%	$24.7M	$107.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,745.5	−0.056%	—	$34.8M	500x	as long as short
Bitget ETHUSDT	+0.0099%	8h	2,746.2	−0.030%	$2.08B	$2.79B	150x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,747.3	+0.009%	$16.2M	$8.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,743.8	−0.118%	$476K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,743.1	−0.142%	$13.9M	$112.1M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,746.7	−0.012%	$3.12B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,744.1	−0.107%	$31.7M	$334.3M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,746.1	−0.035%	$2.46B	$4.31B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,742.7	−0.158%	$2.7M	$17.0M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,744.6	−0.090%	$2.8M	$16.4M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,742.6	−0.160%	$15.0M	$41.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,744.9	−0.077%	$132.7M	$345.6M	—	as long as short
edgeX ETHUSDCshort	+0.0100%	4h	2,744.9	−0.077%	$181.5M	$699.4M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,745.7	−0.047%	$159.7M	$82.2M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,745.5	−0.056%	$21.2M	$69.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,745.5	−0.056%	—	$849K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,745.5	−0.056%	$10.7M	$8.6M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,745.9	−0.041%	$182K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,746.2	−0.032%	$21K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,748	+0.037%	$41.6M	$29.6M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,743.1	−0.142%	$961K	$12.2M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,746.1	−0.034%	$54.7M	$187.7M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,743	−0.146%	$267.0M	$66.1M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,747.7	+0.023%	$164.0M	$301.0M	25x	as long as short
Aftermath Perps ETHUSD	+0.0100%	1h	2,746.6	−0.018%	$30K	$20K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,742.6	−0.160%	$30.5M	$73.2M	50x	as long as short
Kalshi KXETHPERP	+0.0146%	8h	2,743.5	−0.129%	$7.7M	$672.7M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0178%	8h	2,748.7	+0.061%	$32.3M	$11.2M	100x	as long as short
Deribit ETH-PERPETUALlong	+0.0191%	1h	2,747	long leg	$258.8M	$200.1M	50x
Injective ETH/USDC PERP	+0.0209%	1h	2,745	−0.074%	$118K	$22.5M	52x	as long as short
Hibachi ETH/USDT-P	+0.0216%	1h	2,745.3	−0.062%	$250K	$1.5M	20x	as long as short
Reya ETHRUSDPERP	+0.0222%	1h	2,744.9	−0.077%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0355%	1h	2,743.7	−0.122%	$88.5M	$316.8M	100x	as long as short