Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h −0.005%

Price spread now: Aevo against edgeX−0.073%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$560.565% of the position

Long on edgeX Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days−0.121%−$12 on $10k

Price spread, last 3 days (all we have)−0.108%−$11 · spread now −0.073%, 7d avg −0.035%

Together, before fees−0.229%+ Points / potential airdropedgeX: Active · farm board−$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Aevo is 0.038% cheaper against edgeX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.035%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ETHUSDC	2,777.2	0.0100	pay 0.0050% / 4h	2h 15m	$179.9M	$795.1M	100x
Short	Aevo ETH-PERP	2,775.2	0.0048	get 0.0006% / 1h	15m 18s	$5.0M	$636K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against edgeX. 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 edgeXbpFee AevobpOrdersPrice spread, now −0.073%Rate

Funding earned: −$10.92
Price spread: −0.073% → −0.035%: −$3.8
Slippage, 4 orders: −$31.46
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$71.18
Costs to cover: 0.565%
Break-even: never at this rate

Slippage from edgeX: live order book, 4 min ago; Aevo: live order book, 4 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 edgeX live order book, 4 min ago	0.07 bp	4.9 bp −$5	4.9 bp −$49	5.0 bp −$499	6.1 bp −$3,065
Sell Aevo live order book, 4 min ago	14.97 bp	23.0 bp −$23	31.5 bp −$315	52.0 bp −$5,203	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	−0.0112%	43m	2,776.2	−0.037%	$289K	$6.9M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0107%	1h	2,776.6	−0.021%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,776.6	−0.021%	$5K	$2K	50x	as long as short
01 Exchange ETHUSD	−0.0048%	1h	2,776.1	−0.039%	$172K	$1.2M	50x	as long as short
Phoenix ETH	−0.0023%	1h	2,780	+0.101%	$859K	$3.7M	25x	as long as short
RISEx ETH/USDC	−0.0011%	1h	2,775.7	−0.056%	$5.8M	$11.7M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,777	−0.008%	$12.7M	$45.5M	50x	as long as short
Aftermath Perps ETHUSD	+0.0002%	1h	2,776.9	−0.012%	$29K	$22K	20x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,777.5	+0.012%	$22.4M	—	200x	as long as short
Phemex ETHUSDT	+0.0016%	8h	2,776.9	−0.011%	$267.4M	$66.0M	150x	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	+0.0022%	8h	2,776.7	−0.018%	$1.71B	$11.92B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,777.5	+0.010%	$13.2M	—	200x	as long as short
ApeX Omni ETHUSDT	+0.0036%	1h	2,777.7	+0.016%	$8.8M	$32.6M	100x	as long as short
Aster ETHUSDT	+0.0040%	8h	2,776.7	−0.018%	$256.8M	$995.6M	200x	as long as short
Aevo ETH-PERPshort	+0.0048%	1h	2,775.2	−0.073%	$5.0M	$636K	20x
MEXC ETH_USDT	+0.0050%	8h	2,776.9	−0.010%	$1.60B	$2.68B	500x	as long as short
Binance ETHUSDT	+0.0052%	8h	2,777	−0.008%	$6.45B	$17.23B	150x	as long as short
Gate ETH_USDT	+0.0075%	8h	2,777	−0.009%	$3.28B	$9.68B	200x	as long as short
Bitget ETHUSDT	+0.0075%	8h	2,776.7	−0.019%	$2.10B	$3.13B	150x	as long as short
Deribit ETH-PERPETUAL	+0.0078%	1h	2,778.6	+0.049%	$258.5M	$225.1M	50x	as long as short
Bullet ETH-USD	+0.0085%	1h	2,776.8	−0.014%	$183K	$1.8M	20x	as long as short
Lighter ETH	+0.0096%	1h	2,777.6	+0.013%	$115.2M	$514.8M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,778.9	+0.061%	$25.4M	$123.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,776.9	−0.010%	—	$41.7M	500x	as long as short
Variational Omni ETH	+0.0098%	8h	2,776.8	−0.013%	$141.1M	$320.7M	—	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,775.8	−0.051%	$15.9M	$10.8M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,776.3	−0.032%	$488K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,775.5	−0.060%	$15.3M	$117.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,778.5	+0.047%	$3.20B	$2.40B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,776.7	−0.018%	$31.3M	$289.2M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,776.7	−0.017%	$2.52B	$4.64B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,775.9	−0.047%	$2.9M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,777.5	+0.009%	$2.8M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,778.1	+0.032%	$165.4M	$253.6M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,775.6	−0.059%	$423.2M	$741.8M	100x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,776.8	−0.014%	—	$1.18B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,776.2	−0.034%	$15.4M	$42.9M	50x	as long as short
edgeX ETHUSDClong	+0.0100%	4h	2,777.2	long leg	$179.9M	$795.1M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,779.2	+0.072%	$161.6M	$97.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,777.7	+0.018%	$21.4M	$57.8M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,776.9	−0.011%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,777.3	+0.004%	$10.8M	$7.8M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,777.7	+0.017%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,779.2	+0.073%	$42.8M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,775.3	−0.069%	$972K	$14.2M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,776.9	−0.011%	$55.3M	$228.5M	40x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,775.5	−0.063%	$1.08B	$1.32B	200x	as long as short
Extended ETH-USD	+0.0104%	1h	2,776.3	−0.031%	$31.4M	$75.6M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,778.7	+0.056%	$60.0M	$4.63B	50x	as long as short
Kalshi KXETHPERP	+0.0120%	8h	2,777.1	−0.003%	$8.5M	$674.1M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0135%	8h	2,779.7	+0.092%	$32.6M	$12.0M	100x	as long as short
BloFin ETH-USDT	+0.0172%	8h	2,776.9	−0.011%	$284.4M	$196.0M	150x	as long as short
Reya ETHRUSDPERP	+0.0184%	1h	2,775.8	−0.052%	$7.4M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0240%	1h	2,778.3	+0.041%	$87.0M	$330.8M	100x	as long as short
Hibachi ETH/USDT-P	+0.0448%	1h	2,780	+0.100%	$282K	$1.5M	20x	as long as short