Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.033%

Price spread now: dYdX against edgeX−0.127%7-day average +0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$250.253% of the position

Long on edgeX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.076%+$8 on $10k

Price spread, last 7 days+0.241%+$24 · spread now −0.127%, 7d avg +0.029%

Together, before fees+0.317%+ Points / potential airdropedgeX: Active · farm board+$32 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.156% cheaper against edgeX than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of +0.029%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.076%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ETHUSDC	2,772.9	0.0100	pay 0.0050% / 4h	2h 48m	$178.4M	$789.3M	100x
Short	dYdX ETH-USD	2,769.4	0.0000	get 0.0000% / 1h	48m 59s	$12.9M	$45.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.127%Rate

Funding earned: −$20.96
Price spread: −0.127% → +0.029%: −$15.65
Slippage, 4 orders: −$6.32
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$61.93
Costs to cover: 0.253%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 min ago; dYdX: live order book, just now.

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, 5 min ago	0.04 bp	4.6 bp −$5	4.6 bp −$46	4.9 bp −$488	6.6 bp −$3,281
Sell dYdX live order book, just now	1.62 bp	7.9 bp −$8	14.1 bp −$141	27.1 bp −$2,710	78.4 bp −$39.2K

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	2,769.8	−0.112%	$289K	$6.9M	8.3x	as long as short
ApeX Omni ETHUSDT	−0.0178%	1h	2,769.3	−0.132%	$10.5M	$31.0M	100x	as long as short
Injective ETH/USDC PERP	−0.0107%	1h	2,770.7	−0.081%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,769.9	−0.110%	$5K	$2K	50x	as long as short
01 Exchange ETHUSD	−0.0072%	1h	2,769.7	−0.117%	$172K	$1.2M	50x	as long as short
Phoenix ETH	−0.0023%	1h	2,776.7	+0.136%	$797K	$3.7M	25x	as long as short
RISEx ETH/USDC	−0.0011%	1h	2,769.8	−0.114%	$5.8M	$12.0M	25x	as long as short
dYdX ETH-USDshort	0.0000%	1h	2,769.4	−0.127%	$12.9M	$45.3M	50x
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,770.6	−0.084%	$22.4M	—	200x	as long as short
Phemex ETHUSDT	+0.0021%	8h	2,769.8	−0.114%	$266.5M	$65.9M	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	2,771	−0.070%	$1.70B	$11.90B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0027% / S +0.0009%	1h	2,770.5	−0.088%	$13.0M	—	200x	as long as short
Aevo ETH-PERP	+0.0040%	1h	2,767.6	−0.193%	$5.0M	$636K	20x	as long as short
Aftermath Perps ETHUSD	+0.0040%	1h	2,774.1	+0.042%	$29K	$22K	20x	as long as short
Aster ETHUSDT	+0.0043%	8h	2,770.9	−0.074%	$255.9M	$998.8M	200x	as long as short
MEXC ETH_USDT	+0.0043%	8h	2,770.8	−0.078%	$1.59B	$2.63B	500x	as long as short
Binance ETHUSDT	+0.0044%	8h	2,771	−0.069%	$6.44B	$17.26B	150x	as long as short
Gate ETH_USDT	+0.0056%	8h	2,771	−0.071%	$3.28B	$9.55B	200x	as long as short
Bitget ETHUSDT	+0.0073%	8h	2,770.6	−0.084%	$2.09B	$3.14B	150x	as long as short
SoDEX ETH-USD	+0.0075%	1h	2,769.8	−0.113%	$55.2M	$228.6M	40x	as long as short
Bullet ETH-USD	+0.0077%	1h	2,769.7	−0.118%	$187K	$1.8M	20x	as long as short
Variational Omni ETH	+0.0091%	8h	2,769.8	−0.112%	$141.1M	$319.9M	—	as long as short
Lighter ETH	+0.0096%	1h	2,770.3	−0.095%	$115.1M	$508.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,771.8	−0.043%	$25.3M	$121.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,769.3	−0.130%	—	$42.5M	500x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,769.1	−0.140%	$15.9M	$11.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,770.1	−0.102%	$480K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,768.4	−0.163%	$16.1M	$115.2M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,772.9	−0.001%	$3.20B	$2.38B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,769.2	−0.135%	$31.3M	$283.2M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,771	−0.071%	$2.51B	$4.64B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,768.1	−0.175%	$2.9M	$16.5M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,771.6	−0.050%	$2.8M	$17.7M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,770.8	−0.076%	$164.5M	$255.4M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,770.6	−0.086%	$426.2M	$745.1M	100x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,770.7	−0.079%	—	$17.3M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,771	−0.071%	$15.4M	$42.4M	50x	as long as short
edgeX ETHUSDClong	+0.0100%	4h	2,772.9	long leg	$178.4M	$789.3M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,769.9	−0.108%	$161.1M	$97.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,771.2	−0.063%	$21.4M	$57.5M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,770.5	−0.086%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,771.2	−0.063%	$10.8M	$7.8M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,770.1	−0.101%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,772.3	−0.025%	$42.8M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,768.3	−0.169%	$970K	$14.3M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,768.9	−0.146%	$1.08B	$1.32B	200x	as long as short
Extended ETH-USD	+0.0104%	1h	2,770.3	−0.097%	$31.5M	$76.3M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,771.5	−0.054%	$60.0M	$4.65B	50x	as long as short
Kalshi KXETHPERP	+0.0115%	8h	2,770.4	−0.092%	$8.6M	$670.1M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0128%	8h	2,772.6	−0.012%	$32.5M	$11.8M	100x	as long as short
BloFin ETH-USDT	+0.0164%	8h	2,769.8	−0.113%	$286.5M	$196.4M	150x	as long as short
Deribit ETH-PERPETUAL	+0.0169%	1h	2,771.7	−0.044%	$259.0M	$223.4M	50x	as long as short
Reya ETHRUSDPERP	+0.0192%	1h	2,769.1	−0.140%	$7.5M	$998K	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0240%	1h	2,771.3	−0.058%	$88.4M	$330.6M	100x	as long as short
Hibachi ETH/USDT-P	+0.0376%	1h	2,771.8	−0.043%	$273K	$1.5M	20x	as long as short