Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0029%/8h= +3.2% APRpaid last 24h −0.017%

Price spread now: Kalshi against edgeX+0.069%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$210.214% of the position

Long on edgeX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.165%−$17 on $10k

Price spread, last 7 days−0.023%−$2 · spread now +0.069%, 7d avg +0.022%

Together, before fees−0.188%+ Points / potential airdropedgeX: Active · farm board−$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Kalshi is 0.047% dearer against edgeX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.022%. Mind the row above: over the last 7 days funding on this pair cost −0.165%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ETHUSDC	2,737	0.0100	pay 0.0050% / 4h	3h 59m	$184.1M	$671.7M	100x
Short	Kalshi KXETHPERP	2,738.9	0.0129	get 0.0129% / 8h	3h 59m	$6.8M	$679.4M	4.9x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi 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 KalshibpOrdersPrice spread, now +0.069%Rate

Funding earned: $6.18
Price spread: +0.069% → +0.022%: $4.68
Slippage, 4 orders: −$2.43
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$10.58
Costs to cover: 0.214%
Break-even: 19.0 days

Slippage from edgeX: live order book, 5 min ago; Kalshi: live order book, 5 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, 5 min ago	0.07 bp	4.9 bp −$5	4.9 bp −$49	5.0 bp −$505	6.5 bp −$3,225
Sell Kalshi live order book, 5 min ago	0.37 bp	5.7 bp −$6	7.0 bp −$70	11.1 bp −$1,105	18.7 bp −$9,335

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	2,738.1	+0.039%	$297K	$5.6M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,739.7	+0.098%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,738.4	+0.050%	$11.9M	—	200x	as long as short
Phoenix ETH	0.0000%	1h	2,737.3	+0.010%	$827K	$2.9M	25x	as long as short
dYdX ETH-USD	+0.0001%	1h	2,739.5	+0.092%	$10.7M	$41.9M	50x	as long as short
Bullet ETH-USD	+0.0006%	1h	2,738	+0.034%	$180K	$1.7M	20x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,738.2	+0.043%	$28.1M	—	200x	as long as short
SoDEX ETH-USD	+0.0008%	1h	2,737.7	+0.025%	$54.5M	$187.7M	40x	as long as short
HTX ETH-USDT	+0.0024%	8h	2,737.5	+0.018%	$1.06B	$1.20B	200x	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,739.2	+0.080%	$187K	$821K	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDC	+0.0043%	8h	2,738.4	+0.050%	—	$18.5M	—	as long as short
Bybit ETHUSDT	+0.0053%	8h	2,737.6	+0.020%	$2.38B	$4.36B	150x	as long as short
ApeX Omni ETHUSDT	+0.0064%	1h	2,736.1	−0.034%	$8.7M	$31.3M	100x	as long as short
KuCoin ETHUSDTM	+0.0068%	8h	2,738.4	+0.051%	$380.2M	$573.7M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0075%	8h	2,737.5	+0.018%	$1.67B	$10.74B	100x	as long as short
Phemex ETHUSDT	+0.0079%	8h	2,737.8	+0.028%	$265.9M	$65.1M	150x	as long as short
Aster ETHUSDT	+0.0091%	8h	2,739.7	+0.099%	$251.3M	$842.1M	200x	as long as short
Lighter ETH	+0.0096%	1h	2,738.1	+0.039%	$113.2M	$429.9M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,740.3	+0.118%	$23.5M	$106.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,739.7	+0.096%	—	$31.0M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,735.3	−0.064%	$4.9M	$155K	20x	as long as short
Injective ETH/USDC PERP	+0.0096%	1h	2,747.1	+0.368%	$118K	$22.5M	52x	as long as short
MEXC ETH_USDT	+0.0098%	8h	2,738.2	+0.042%	$1.56B	$2.53B	500x	as long as short
Binance ETHUSDT	+0.0098%	8h	2,738.1	+0.041%	$6.36B	$15.89B	150x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,743.9	+0.253%	$15.6M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,738.6	+0.058%	$499K	$3.3M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,739.2	+0.081%	$13.6M	$104.4M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,740.5	+0.127%	$3.11B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,740.3	+0.118%	$31.9M	$334.0M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,738.2	+0.043%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,739.5	+0.089%	$1.5M	$16.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,733.7	−0.123%	$169.4M	$313.3M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,738.2	+0.043%	$3.34B	$8.81B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,737.7	+0.024%	$2.07B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,738.3	+0.048%	$15.0M	$40.5M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,737.3	+0.011%	$134.0M	$324.5M	—	as long as short
edgeX ETHUSDClong	+0.0100%	4h	2,737	long leg	$184.1M	$671.7M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,736.6	−0.016%	$159.2M	$86.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,738.9	+0.069%	$21.1M	$68.3M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,739.5	+0.090%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,740	+0.109%	$11.2M	$9.3M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,738.9	+0.067%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,739.6	+0.095%	$41.3M	$29.8M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,737.7	+0.025%	$961K	$11.3M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,736.8	−0.009%	$30.4M	$72.9M	50x	as long as short
RISEx ETH/USDC	+0.0107%	1h	2,739.5	+0.089%	$5.7M	$11.7M	25x	as long as short
Aftermath Perps ETHUSD	+0.0116%	1h	2,736.7	−0.011%	$30K	$20K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,738.7	+0.061%	$51.3M	$4.27B	50x	as long as short
Kalshi KXETHPERPshort	+0.0129%	8h	2,738.9	+0.069%	$6.8M	$679.4M	4.9x
Deribit ETH-PERPETUAL	+0.0144%	1h	2,739.2	+0.079%	$260.3M	$197.3M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0153%	1h	2,738.4	+0.052%	$83.5M	$315.4M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0199%	8h	2,740.1	+0.114%	$32.2M	$11.7M	100x	as long as short
Reya ETHRUSDPERP	+0.0216%	1h	2,737.4	+0.012%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0280%	1h	2,739.2	+0.079%	$249K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0394%	8h	2,737.7	+0.025%	$283.5M	$175.9M	150x	as long as short