Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0008%/8h= −0.9% APRpaid last 24h −0.007%

Price spread now: MEXC against edgeX−0.002%83s7-day average +0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as 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−$120.119% of the position

Long on edgeX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.118%−$12 on $10k

Price spread, last 7 days+0.025%+$2 · spread now −0.002%, 7d avg +0.028%

Together, before fees−0.093%+ Points / potential airdropedgeX: Active · farm board−$9 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: MEXC is 0.030% cheaper against edgeX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.028%. 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	2,735.7	0.0100	pay 0.0050% / 4h	3h 32m	$184.0M	$670.9M	100x
Short	MEXC ETH_USDT	2,735.7	0.0092	get 0.0092% / 8h	3h 32m	$1.55B	$2.56B	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.002%Rate

Funding earned: −$1.68
Price spread: −0.002% → +0.028%: −$2.99
Slippage, 4 orders: −$0.86
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee MEXC: 1 bp × 2 orders: −$2
Net: −$16.52
Costs to cover: 0.119%
Break-even: never at this rate

Slippage from edgeX: live order book, 2 min ago; MEXC: 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	0.07 bp	4.9 bp −$5	4.9 bp −$49	5.0 bp −$502	6.4 bp −$3,184
Sell MEXC live order book, 2 min ago	0.02 bp	1.0 bp −$1	1.1 bp −$11	1.6 bp −$162	4.4 bp −$2,180

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	2,737	+0.047%	$297K	$5.6M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,736.8	+0.040%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,736.3	+0.021%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,737.1	+0.051%	$822K	$2.9M	25x	as long as short
HTX ETH-USDT	−0.0001%	8h	2,735.4	−0.011%	$1.06B	$1.20B	200x	as long as short
dYdX ETH-USD	+0.0004%	1h	2,737.1	+0.051%	$10.8M	$42.0M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,736.3	+0.022%	$28.1M	—	200x	as long as short
Bullet ETH-USD	+0.0028%	1h	2,735.8	+0.004%	$179K	$1.7M	20x	as long as short
BingX ETH-USDT	+0.0032%	8h	2,735.8	+0.004%	—	$1.15B	—	as long as short
Bybit ETHUSDT	+0.0041%	8h	2,735.4	−0.013%	$2.37B	$4.37B	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni ETHUSDT	+0.0044%	1h	2,737.4	+0.062%	$8.7M	$31.2M	100x	as long as short
01 Exchange ETHUSD	+0.0048%	1h	2,736.5	+0.029%	$187K	$816K	50x	as long as short
Deribit ETH-PERPETUAL	+0.0064%	1h	2,737	+0.049%	$259.5M	$200.1M	50x	as long as short
KuCoin ETHUSDTM	+0.0067%	8h	2,735.8	+0.003%	$381.2M	$573.8M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0075%	8h	2,735.5	−0.007%	$1.67B	$10.74B	100x	as long as short
Phemex ETHUSDT	+0.0078%	8h	2,735.8	+0.004%	$265.2M	$65.1M	150x	as long as short
SunX ETH-USDT	+0.0084%	8h	2,734.8	−0.035%	$960K	$11.2M	100x	as long as short
Aster ETHUSDT	+0.0084%	8h	2,735.7	0.000%	$251.3M	$842.2M	200x	as long as short
MEXC ETH_USDTshort	+0.0092%	8h	2,735.7	−0.002%	$1.55B	$2.56B	500x
Binance ETHUSDT	+0.0093%	8h	2,735.8	+0.003%	$6.36B	$15.89B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,736.1	+0.014%	$112.9M	$432.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,737.4	+0.061%	$23.4M	$104.2M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,737.5	+0.067%	—	$30.9M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,734.5	−0.043%	$4.9M	$155K	20x	as long as short
Injective ETH/USDC PERP	+0.0096%	1h	2,737.8	+0.077%	$117K	$22.5M	52x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,740	+0.157%	$15.6M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,736.1	+0.015%	$505K	$3.3M	50x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,735.8	+0.004%	$54.5M	$187.7M	40x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,737.3	+0.060%	$13.8M	$104.5M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,738.3	+0.095%	$3.11B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,737.8	+0.077%	$32.1M	$333.7M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,736.9	+0.044%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,736.8	+0.041%	$1.5M	$15.9M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,736.4	+0.027%	$170.3M	$327.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,735.9	+0.008%	$3.34B	$8.88B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,735.9	+0.008%	$2.07B	$2.72B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,736.6	+0.031%	$15.2M	$40.8M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,735.4	−0.012%	$133.6M	$322.1M	—	as long as short
edgeX ETHUSDClong	+0.0100%	4h	2,735.7	long leg	$184.0M	$670.9M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,737.6	+0.069%	$159.3M	$86.9M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,737.4	+0.062%	$21.1M	$69.2M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,737.1	+0.051%	—	$844K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,737.5	+0.066%	$11.2M	$9.2M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,737	+0.048%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,737.8	+0.076%	$41.3M	$29.9M	15x	as long as short
Extended ETH-USD	+0.0104%	1h	2,735.1	−0.022%	$30.6M	$73.0M	50x	as long as short
RISEx ETH/USDC	+0.0107%	1h	2,736.7	+0.035%	$5.6M	$11.7M	25x	as long as short
Aftermath Perps ETHUSD	+0.0110%	1h	2,737.3	+0.060%	$30K	$20K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,736.4	+0.024%	$51.0M	$4.28B	50x	as long as short
Kalshi KXETHPERP	+0.0138%	8h	2,737.7	+0.073%	$6.5M	$683.4M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0153%	1h	2,736.2	+0.019%	$83.4M	$315.1M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0197%	8h	2,738.3	+0.095%	$32.2M	$11.7M	100x	as long as short
Reya ETHRUSDPERP	+0.0211%	1h	2,735.1	−0.021%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0264%	1h	2,737.7	+0.073%	$245K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0372%	8h	2,736.6	+0.031%	$283.4M	$175.3M	150x	as long as short