Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.010%

Price spread now: Vest against Derive−0.049%7-day average −0.037% · you buy dearer than you sell

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

Long on Derive Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.045%−$4 on $10k

Price spread, last 3 days (all we have)+0.040%+$4 · spread now −0.049%, 7d avg −0.037%

Together, before fees−0.005%+ Points / potential airdropVest: Active · farm board$0 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive ETH-PERP	2,777.6	0.0100	pay 0.0013% / 1h	55m 03s	$42.7M	$29.3M	15x
Short	Vest ETH-PERP	2,776.2	0.0100	get 0.0013% / 1h	55m 03s	—	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now −0.049%Rate

Funding earned: $0
Price spread: −0.049% → −0.037%: −$1.24
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Vest: 1 bp × 2 orders: −$2
Net: −$9.24
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; 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 Derive no order-book sample	—	—	—	—	—
Sell Vest no order-book sample	—	—	—	—	—

Derive and 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
Perpl ETH	−0.0447%	43m	2,776	−0.056%	$290K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,775.1	−0.091%	$5.8M	$12.1M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,775.3	−0.083%	$5K	$2K	50x	as long as short
01 Exchange ETHUSD	−0.0048%	1h	2,777.3	−0.011%	$169K	$1.2M	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,773.8	−0.137%	$119K	$22.5M	52x	as long as short
Phoenix ETH	−0.0023%	1h	2,775.6	−0.072%	$886K	$3.7M	25x	as long as short
Nado ETH-PERP	−0.0011%	1h	2,776.7	−0.032%	$14.3M	$118.9M	50x	as long as short
dYdX ETH-USD	0.0000%	1h	2,775.6	−0.072%	$12.7M	$45.5M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,776.9	−0.027%	$22.4M	—	200x	as long as short
Aftermath Perps ETHUSD	+0.0008%	1h	2,772.1	−0.197%	$29K	$22K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi ETH/USDT-P	+0.0016%	1h	2,774.8	−0.102%	$279K	$1.5M	20x	as long as short
BingX ETH-USDT	+0.0018%	8h	2,776.1	−0.054%	—	$1.19B	—	as long as short
OKX ETH-USDT-SWAP	+0.0022%	8h	2,775.9	−0.061%	$1.71B	$11.89B	100x	as long as short
Phemex ETHUSDT	+0.0024%	8h	2,776.4	−0.045%	$267.4M	$65.9M	150x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,776.9	−0.025%	$13.2M	—	200x	as long as short
Aster ETHUSDT	+0.0033%	8h	2,776.1	−0.053%	$256.7M	$993.7M	200x	as long as short
Bullet ETH-USD	+0.0049%	1h	2,776.2	−0.050%	$183K	$1.8M	20x	as long as short
MEXC ETH_USDT	+0.0052%	8h	2,776.6	−0.035%	$1.60B	$2.63B	500x	as long as short
Binance ETHUSDT	+0.0053%	8h	2,776.5	−0.041%	$6.44B	$17.20B	150x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,776.9	−0.025%	$5.0M	$636K	20x	as long as short
Bitget ETHUSDT	+0.0074%	8h	2,776.1	−0.056%	$2.10B	$3.12B	150x	as long as short
Gate ETH_USDT	+0.0080%	8h	2,776.2	−0.052%	$3.29B	$9.53B	200x	as long as short
Deribit ETH-PERPETUAL	+0.0081%	1h	2,776.9	−0.025%	$258.4M	$225.0M	50x	as long as short
Lighter ETH	+0.0096%	1h	2,776.6	−0.037%	$115.2M	$494.5M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,777.9	+0.011%	$25.4M	$120.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,774.1	−0.126%	—	$41.8M	500x	as long as short
HTX ETH-USDT	+0.0098%	8h	2,775.7	−0.068%	$1.08B	$1.32B	200x	as long as short
Variational Omni ETH	+0.0098%	8h	2,772.1	−0.196%	$135.2M	$326.5M	—	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,775	−0.093%	$15.9M	$10.7M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,775.8	−0.065%	$482K	$2.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,778.6	+0.036%	$3.19B	$2.40B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,775.4	−0.080%	$31.3M	$293.6M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,776.1	−0.056%	$2.52B	$4.63B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,774.3	−0.119%	$2.8M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,776.8	−0.030%	$2.8M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,771	−0.239%	$164.2M	$249.6M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,776.4	−0.043%	$424.6M	$740.2M	100x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,776.8	−0.030%	$15.2M	$44.0M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,768.2	−0.340%	$179.4M	$778.3M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,770.8	−0.245%	$161.2M	$96.1M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,767.8	−0.352%	$8.7M	$32.6M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,769.7	−0.284%	$21.4M	$57.9M	40x	as long as short
Vest ETH-PERPshort	+0.0100%	1h	2,776.2	−0.049%	—	$1.1M	50x
Polymarket Perps ETH-USD	+0.0100%	1h	2,778.4	+0.029%	$10.8M	$7.7M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,776.5	−0.040%	$21K	$25K	25x	as long as short
Derive ETH-PERPlong	+0.0100%	1h	2,777.6	long leg	$42.7M	$29.3M	15x
SunX ETH-USDT	+0.0100%	8h	2,775.4	−0.078%	$972K	$14.1M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,775.4	−0.079%	$55.3M	$228.6M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,774.9	−0.099%	$31.5M	$75.3M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,777	−0.022%	$60.0M	$4.62B	50x	as long as short
Kalshi KXETHPERP	+0.0109%	8h	2,775.1	−0.090%	$8.7M	$673.4M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0137%	8h	2,778.3	+0.026%	$32.6M	$12.0M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0170%	1h	2,776.8	−0.028%	$86.2M	$331.6M	100x	as long as short
BloFin ETH-USDT	+0.0173%	8h	2,775.7	−0.070%	$286.5M	$195.2M	150x	as long as short
Reya ETHRUSDPERP	+0.0187%	1h	2,777.1	−0.018%	$7.4M	$1.1M	25x	as long as short