Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0023%/8h= −2.5% APRpaid last 24h −0.002%

Price spread now: KuCoin against edgeX+0.350%83s7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$240.240% of the position

Long on edgeX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.126%−$13 on $10k

Price spread, last 7 days−0.320%−$32 · spread now +0.350%, 7d avg +0.032%

Together, before fees−0.446%+ Points / potential airdropedgeX: Active · farm board−$45 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.318% dearer against edgeX than usual: you sell high and buy low (spread +0.350% now, against its 7-day average of +0.032%): +$32 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 46 days. At the pace of the last 7 days (−0.126% in total) that is about 18 days. The two prices were read 83 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ETHUSDC	2,715.8	0.0100	pay 0.0050% / 4h	2h 22m	$184.0M	$676.6M	100x
Short	KuCoin ETHUSDTM	2,725.3	0.0077	get 0.0077% / 8h	2h 22m	$373.9M	$577.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.350%Rate

Funding earned: −$4.83
Price spread: +0.350% → +0.032%: $31.75
Slippage, 4 orders: −$3.01
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $2.91
Costs to cover: 0.240%
Break-even: from the start

Slippage from edgeX: live order book, 2 min ago; KuCoin: live order book, 2 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, 2 min ago	0.09 bp	5.9 bp −$6	5.9 bp −$59	6.0 bp −$603	8.1 bp −$4,051
Sell KuCoin live order book, 2 min ago	0.02 bp	7.5 bp −$8	9.0 bp −$90	11.4 bp −$1,137	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	−0.0447%	43m	2,723.8	+0.293%	$281K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,723.5	+0.284%	$5K	$1K	50x	as long as short
HTX ETH-USDT	−0.0010%	8h	2,725.1	+0.344%	$1.05B	$1.21B	200x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,724.1	+0.307%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0009%	1h	2,720	+0.155%	$814K	$3.0M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,724.4	+0.315%	$32.6M	—	200x	as long as short
dYdX ETH-USD	+0.0008%	1h	2,722.8	+0.258%	$10.3M	$42.5M	50x	as long as short
Injective ETH/USDC PERP	+0.0009%	1h	2,717.1	+0.048%	$117K	$22.5M	52x	as long as short
BingX ETH-USDT	+0.0033%	8h	2,724	+0.302%	—	$1.13B	—	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,724.7	+0.328%	$190K	$829K	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0043%	8h	2,725.9	+0.373%	$2.35B	$4.41B	150x	as long as short
SunX ETH-USDT	+0.0069%	8h	2,723.2	+0.272%	$955K	$11.1M	100x	as long as short
Bullet ETH-USD	+0.0074%	1h	2,724	+0.302%	$180K	$1.7M	20x	as long as short
ApeX Omni ETHUSDT	+0.0076%	1h	2,715.8	0.000%	$8.6M	$31.4M	100x	as long as short
KuCoin ETHUSDTMshort	+0.0077%	8h	2,725.3	+0.350%	$373.9M	$577.4M	100x
Aftermath Perps ETHUSD	+0.0079%	1h	2,720.6	+0.176%	$30K	$20K	20x	as long as short
Aster ETHUSDT	+0.0084%	8h	2,725.7	+0.365%	$252.1M	$845.1M	200x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,722.6	+0.252%	$4.9M	$155K	20x	as long as short
MEXC ETH_USDT	+0.0089%	8h	2,725.8	+0.369%	$1.54B	$2.59B	500x	as long as short
Binance ETHUSDT	+0.0090%	8h	2,725.8	+0.368%	$6.31B	$16.08B	150x	as long as short
Phemex ETHUSDT	+0.0093%	8h	2,725.7	+0.363%	$262.7M	$64.9M	150x	as long as short
OKX ETH-USDT-SWAP	+0.0096%	8h	2,726	+0.376%	$1.66B	$10.82B	100x	as long as short
Lighter ETH	+0.0096%	1h	2,725.9	+0.374%	$112.2M	$434.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,727.4	+0.426%	$23.5M	$103.8M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,723.4	+0.280%	$498K	$3.4M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,724.7	+0.329%	$15.1M	$8.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,723.5	+0.283%	$13.8M	$105.0M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,726.2	+0.383%	$3.09B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,723.7	+0.290%	$32.0M	$333.8M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,722	+0.228%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,723.9	+0.298%	$1.5M	$16.2M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,722.5	+0.247%	$160.0M	$319.3M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,724.3	+0.311%	$3.30B	$9.00B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,725.3	+0.351%	$2.08B	$2.78B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,721.4	+0.205%	$14.9M	$43.2M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,716.2	+0.013%	$132.3M	$328.6M	—	as long as short
edgeX ETHUSDClong	+0.0100%	4h	2,715.8	long leg	$184.0M	$676.6M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,721	+0.193%	$158.3M	$86.7M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,720.8	+0.184%	$20.9M	$70.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,724.8	+0.331%	—	$875K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,725.4	+0.354%	$11.2M	$9.5M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,724.8	+0.332%	$22K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,727	+0.411%	$40.9M	$30.2M	15x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,725.7	+0.365%	$54.3M	$187.7M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,724.5	+0.322%	$30.4M	$74.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,724.4	+0.318%	—	$31.3M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,727.1	+0.417%	$49.6M	$4.30B	50x	as long as short
RISEx ETH/USDC	+0.0108%	1h	2,724	+0.302%	$5.5M	$11.7M	25x	as long as short
Kalshi KXETHPERP	+0.0151%	8h	2,723.3	+0.276%	$6.9M	$693.0M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0176%	1h	2,726.5	+0.392%	$83.0M	$312.1M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0183%	1h	2,726.8	+0.404%	$259.3M	$207.8M	50x	as long as short
Orderly PERP_ETH_USDC	+0.0188%	8h	2,726.6	+0.397%	$32.1M	$11.5M	100x	as long as short
Reya ETHRUSDPERP	+0.0199%	1h	2,723.4	+0.280%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0264%	1h	2,721.1	+0.194%	$249K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0359%	8h	2,720.5	+0.171%	$281.1M	$173.9M	150x	as long as short