Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0057%/8h= −6.3% APRpaid last 24h −0.016%

Price spread now: Aster against Derive−0.059%7-day average −0.045% · you buy dearer than you sell

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

Long on Derive Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.131%−$13 on $10k

Price spread, last 3 days (all we have)+0.023%+$2 · spread now −0.059%, 7d avg −0.045%

Together, before fees−0.108%+ Points / potential airdropAster: Stage 5 · farm board−$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.045%, 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	Derive ETH-PERP	2,751.2	0.0100	pay 0.0013% / 1h	52m 04s	$42.0M	$29.0M	15x
Short	Aster ETHUSDT	2,749.6	0.0043	get 0.0043% / 8h	6h 52m	$255.8M	$854.7M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Derive. 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 DerivebpFee AsterbpOrdersPrice spread, now −0.059%Rate

Funding earned: −$12.07
Price spread: −0.059% → −0.045%: −$1.38
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Aster: 4 bp × 2 orders: −$8
Net: −$27.46
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; Aster: live order book, 2 min ago. 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 Derive no order-book sample	—	—	—	—	—
Sell Aster live order book, 2 min ago	0.02 bp	5.1 bp −$5	5.2 bp −$52	6.3 bp −$632	12.1 bp −$6,050

Derive: 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	−0.0865%	1h	2,751.3	+0.004%	$8.8M	$31.4M	100x	as long as short
Perpl ETH	−0.0447%	43m	2,750	−0.045%	$323K	$6.2M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,750.6	−0.022%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,750.7	−0.018%	$5.5M	$11.3M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,749.1	−0.078%	$12.0M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,756.1	+0.178%	$865K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,750.6	−0.024%	$10.9M	$41.8M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,751	−0.008%	$181K	$1.1M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,748.6	−0.096%	$22.2M	—	200x	as long as short
BingX ETH-USDC	+0.0027%	8h	2,749.6	−0.057%	—	$17.3M	—	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	+0.0035%	8h	2,750.8	−0.015%	$1.67B	$11.08B	100x	as long as short
HTX ETH-USDT	+0.0038%	8h	2,749.1	−0.079%	$1.07B	$1.23B	200x	as long as short
Aster ETHUSDTshort	+0.0043%	8h	2,749.6	−0.059%	$255.8M	$854.7M	200x
MEXC ETH_USDT	+0.0055%	8h	2,750.1	−0.040%	$1.58B	$2.52B	500x	as long as short
Binance ETHUSDT	+0.0055%	8h	2,749.8	−0.051%	$6.37B	$16.32B	150x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,747.3	−0.143%	$4.9M	$163K	20x	as long as short
Gate ETH_USDT	+0.0067%	8h	2,750.1	−0.040%	$3.33B	$8.71B	200x	as long as short
KuCoin ETHUSDTM	+0.0082%	8h	2,749.1	−0.077%	$384.4M	$607.1M	100x	as long as short
Bitget ETHUSDT	+0.0083%	8h	2,749.4	−0.066%	$2.07B	$2.86B	150x	as long as short
Deribit ETH-PERPETUAL	+0.0088%	1h	2,751	−0.010%	$258.8M	$202.4M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,751.2	+0.001%	$59.6M	$4.39B	50x	as long as short
Aftermath Perps ETHUSD	+0.0089%	1h	2,750	−0.044%	$30K	$21K	20x	as long as short
Variational Omni ETH	+0.0095%	8h	2,741.6	−0.351%	$132.7M	$345.8M	—	as long as short
Lighter ETH	+0.0096%	1h	2,749.7	−0.054%	$113.2M	$438.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,751	−0.006%	$25.0M	$105.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,750.1	−0.042%	—	$35.7M	500x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,753.4	+0.078%	$15.9M	$8.2M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,749.6	−0.059%	$469K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,750.1	−0.041%	$14.0M	$113.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,752	+0.029%	$3.13B	$2.14B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,750.3	−0.033%	$31.2M	$332.2M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,750.7	−0.020%	$2.46B	$4.35B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,749.2	−0.073%	$2.8M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,751.2	−0.002%	$2.8M	$16.8M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,752.6	+0.052%	$169.2M	$297.0M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,749.7	−0.054%	$14.9M	$42.5M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,751.5	+0.010%	$183.7M	$729.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,739.9	−0.410%	$159.3M	$81.8M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,745.9	−0.193%	$21.2M	$65.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,749.8	−0.051%	—	$871K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,749.9	−0.048%	$10.4M	$8.0M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,748.7	−0.091%	$183K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,749.3	−0.069%	$21K	$22K	25x	as long as short
Derive ETH-PERPlong	+0.0100%	1h	2,751.2	long leg	$42.0M	$29.0M	15x
SunX ETH-USDT	+0.0100%	8h	2,749.1	−0.075%	$963K	$12.6M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,749.6	−0.059%	$54.7M	$187.6M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,749.8	−0.052%	$267.4M	$66.2M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,748.8	−0.089%	$30.5M	$74.3M	50x	as long as short
Kalshi KXETHPERP	+0.0130%	8h	2,750	−0.044%	$7.7M	$671.3M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0160%	8h	2,751.5	+0.011%	$32.4M	$11.2M	100x	as long as short
Hibachi ETH/USDT-P	+0.0168%	1h	2,748.1	−0.114%	$250K	$1.5M	20x	as long as short
BloFin ETH-USDT	+0.0175%	8h	2,747.3	−0.141%	$286.1M	$178.5M	150x	as long as short
Injective ETH/USDC PERP	+0.0209%	1h	2,744.5	−0.244%	$118K	$22.5M	52x	as long as short
Reya ETHRUSDPERP	+0.0217%	1h	2,749.3	−0.071%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0354%	1h	2,751	−0.008%	$93.1M	$319.7M	100x	as long as short