Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.015%

Price spread now: 01 Exchange against edgeX−0.031%7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$280.279% of the position

Long on edgeX Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.062%−$6 on $10k

Price spread, last 7 days+0.046%+$5 · spread now −0.031%, 7d avg +0.026%

Together, before fees−0.016%+ Points / potential airdropedgeX: Active · farm board−$2 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 01 Exchange is 0.057% cheaper against edgeX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.026%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ETHUSDC	2,739.9	0.0100	pay 0.0050% / 4h	53m 20s	$182.1M	$665.1M	100x
Short	01 Exchange ETHUSD	2,739	0	get 0.0000% / 1h	53m 20s	$182K	$834K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.031%Rate

Funding earned: −$21
Price spread: −0.031% → +0.026%: −$5.69
Slippage, 4 orders: −$11.88
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$54.57
Costs to cover: 0.279%
Break-even: never at this rate

Slippage from edgeX: live order book, 1 min ago; 01 Exchange: live order book, 6 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, 1 min ago	2.03 bp	6.5 bp −$7	6.5 bp −$65	6.8 bp −$679	8.1 bp −$4,070
Sell 01 Exchange live order book, 6 min ago	0.18 bp	8.6 bp −$9	11.1 bp −$111	doesn't fit	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	2,738.4	−0.052%	$300K	$5.5M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,740.3	+0.016%	$118K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,739.1	−0.028%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,739	−0.032%	$12.0M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,739.5	−0.014%	$10.8M	$41.7M	50x	as long as short
01 Exchange ETHUSDshort	0.0000%	1h	2,739	−0.031%	$182K	$834K	50x
Phoenix ETH	0.0000%	1h	2,741.2	+0.049%	$832K	$2.9M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,739.2	−0.024%	$25.4M	—	200x	as long as short
BingX ETH-USDC	+0.0055%	8h	2,738.4	−0.055%	—	$18.4M	—	as long as short
Bullet ETH-USD	+0.0059%	1h	2,738.3	−0.056%	$180K	$1.7M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX ETH-USD	+0.0062%	1h	2,738.5	−0.050%	$54.5M	$187.6M	40x	as long as short
OKX ETH-USDT-SWAP	+0.0070%	8h	2,739	−0.031%	$1.68B	$10.59B	100x	as long as short
KuCoin ETHUSDTM	+0.0073%	8h	2,738.5	−0.051%	$380.6M	$573.4M	100x	as long as short
Aster ETHUSDT	+0.0084%	8h	2,738.5	−0.050%	$253.3M	$840.3M	200x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,736.3	−0.130%	$4.9M	$154K	20x	as long as short
MEXC ETH_USDT	+0.0091%	8h	2,738.5	−0.048%	$1.56B	$2.52B	500x	as long as short
Binance ETHUSDT	+0.0091%	8h	2,738.5	−0.048%	$6.36B	$15.70B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,738.7	−0.041%	$112.5M	$431.3M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,740.3	+0.015%	$24.5M	$102.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,739.3	−0.022%	—	$30.5M	500x	as long as short
RISEx ETH/USDC	+0.0099%	1h	2,739.1	−0.029%	$5.6M	$11.4M	25x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,742.4	+0.093%	$15.8M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,737.9	−0.071%	$499K	$3.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,738.5	−0.049%	$13.9M	$104.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,740.7	+0.031%	$3.11B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,739	−0.031%	$31.7M	$335.1M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,738.8	−0.039%	$2.43B	$4.18B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,738.7	−0.042%	$2.7M	$16.9M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,738.9	−0.035%	$2.8M	$16.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,740.8	+0.033%	$166.9M	$306.7M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,738.8	−0.040%	$3.39B	$8.68B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,738.9	−0.035%	$2.08B	$2.72B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,739.3	−0.021%	$15.0M	$39.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,741	+0.040%	$133.2M	$324.9M	—	as long as short
edgeX ETHUSDClong	+0.0100%	4h	2,739.9	long leg	$182.1M	$665.1M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,737.4	−0.091%	$159.2M	$83.8M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,734.9	−0.180%	$8.7M	$30.7M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,740.7	+0.031%	$21.2M	$69.6M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,740	+0.005%	$11.0M	$8.8M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,740.5	+0.024%	$41.4M	$29.7M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,737.8	−0.075%	$961K	$11.4M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,738.4	−0.054%	$1.06B	$1.18B	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,738.4	−0.052%	$266.1M	$65.1M	150x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,739.5	−0.012%	—	$843K	50x	as long as short
Extended ETH-USD	+0.0104%	1h	2,738.1	−0.065%	$30.6M	$72.3M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,740.3	+0.018%	$51.1M	$4.26B	50x	as long as short
Aftermath Perps ETHUSD	+0.0126%	1h	2,740.1	+0.010%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0157%	8h	2,739.2	−0.024%	$7.7M	$672.7M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0195%	8h	2,741	+0.043%	$32.2M	$11.5M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0195%	1h	2,740.3	+0.016%	$260.0M	$194.8M	50x	as long as short
BloFin ETH-USDT	+0.0211%	8h	2,738.4	−0.053%	$285.5M	$172.8M	150x	as long as short
Kraken Futures PF_ETHUSD	+0.0222%	1h	2,739.4	−0.016%	$86.0M	$309.6M	100x	as long as short
Reya ETHRUSDPERP	+0.0224%	1h	2,738.2	−0.061%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,740.3	+0.018%	$252K	$1.4M	20x	as long as short
Bluefin ETH-PERP	+0.1989%	1h	2,739.3	−0.020%	$21K	$20K	25x	as long as short