Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.028%

Price spread now: edgeX against gTrade (Gains Network)+0.024%7-day average −0.033% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$180.179% of the position

Long on gTrade (Gains Network)Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.098%+$10 on $10k

Price spread, last 7 days−0.062%−$6 · spread now +0.024%, 7d avg −0.033%

Together, before fees+0.036%+ Points / potential airdropedgeX: Active · farm board+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and edgeX is 0.057% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) ETH/USD	2,741.6	L +0.0007% / S −0.0006%	pay 0.0001% / 1h	52m 38s	$33.1M	—	200x
Short	edgeX ETHUSDC	2,742.3	0.0100	get 0.0050% / 4h	52m 38s	$184.5M	$556.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee edgeXbpOrdersPrice spread, now +0.024%Rate

Funding earned: $19.62
Price spread: +0.024% → −0.033%: $5.67
Slippage, 4 orders: −$1.91
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $7.38
Costs to cover: 0.179%
Break-even: 4.4 days

Slippage from gTrade (Gains Network): virtual book (oracle exchange), 5 min ago; edgeX: 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 gTrade (Gains Network) virtual book (oracle exchange), 5 min ago	0.53 bp	4.0 bp −$4	4.1 bp −$41	5.0 bp −$501	8.9 bp −$4,451
Sell edgeX live order book, 5 min ago	0.07 bp	4.9 bp −$5	4.9 bp −$49	5.0 bp −$504	6.3 bp −$3,135

ETH on 55 exchanges

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
Hotstuff ETH-PERP	−0.0080%	1h	2,744	+0.088%	$5K	$1K	50x	as long as short
Hibachi ETH/USDT-P	−0.0056%	1h	2,744.1	+0.093%	$232K	$1.2M	20x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0009% / S +0.0043%	1h	2,741.2	−0.013%	$12.2M	—	200x	as long as short
Phoenix ETH	−0.0009%	1h	2,742.6	+0.037%	$819K	$2.8M	25x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,742	+0.015%	$7.3M	$654.9M	4.9x	as long as short
Perpl ETH	0.0000%	43m	2,741.5	−0.004%	$269K	$4.9M	8.3x	as long as short
gTrade (Gains Network) ETH/USDlong	L +0.0007% / S −0.0006%	1h	2,741.6	long leg	$33.1M	—	200x
Bybit ETHUSDT	+0.0045%	8h	2,740.1	−0.055%	$2.37B	$3.77B	150x	as long as short
01 Exchange ETHUSD	+0.0048%	1h	2,741.6	0.000%	$182K	$907K	50x	as long as short
OKX ETH-USDT-SWAP	+0.0073%	8h	2,740.5	−0.039%	$1.68B	$9.01B	100x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX ETH-USD	+0.0082%	1h	2,741	−0.023%	$15.2M	$42.4M	50x	as long as short
ApeX Omni ETHUSDT	+0.0085%	1h	2,743.8	+0.081%	$8.2M	$25.0M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0089%	1h	2,742.5	+0.034%	$267.1M	$180.7M	50x	as long as short
KuCoin ETHUSDTM	+0.0092%	8h	2,740.4	−0.044%	$378.3M	$434.1M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,740.9	−0.025%	$113.7M	$381.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,741.5	−0.003%	$23.5M	$92.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,741.2	−0.016%	—	$23.4M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,738.8	−0.101%	$4.9M	$246K	20x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,740.2	−0.051%	$517K	$3.5M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,741.7	+0.005%	$14.9M	$93.4M	50x	as long as short
Aster ETHUSDT	+0.0100%	8h	2,740.6	−0.036%	$255.0M	$699.5M	200x	as long as short
Pacifica ETH	+0.0100%	1h	2,741.3	−0.012%	$32.0M	$320.6M	50x	as long as short
Binance ETHUSDT	+0.0100%	8h	2,739.9	−0.060%	$6.41B	$13.68B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,740.2	−0.051%	$2.8M	$14.0M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,742.1	+0.019%	$1.6M	$14.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,743.8	+0.081%	$163.0M	$315.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,741.3	−0.009%	$3.27B	$7.60B	200x	as long as short
MEXC ETH_USDT	+0.0100%	8h	2,740	−0.059%	$1.60B	$2.29B	500x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,740.5	−0.040%	$2.11B	$2.25B	150x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,740.5	−0.039%	—	$935.8M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,740.4	−0.044%	$15.0M	$35.0M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,741.8	+0.008%	$132.6M	$273.7M	—	as long as short
edgeX ETHUSDCshort	+0.0100%	4h	2,742.3	+0.024%	$184.5M	$556.8M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,743.7	+0.077%	$159.5M	$69.7M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,744	+0.088%	$21.1M	$75.6M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,742.7	+0.039%	—	$316K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,742.5	+0.033%	$11.2M	$8.6M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,741.2	−0.014%	$177K	$1.6M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,741.3	−0.009%	$20K	$7K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,743	+0.050%	$40.9M	$25.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,741.2	−0.016%	$945K	$8.2M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,741.4	−0.007%	$61.7M	$121.7M	40x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,741.2	−0.016%	$1.05B	$993.0M	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,741.7	+0.003%	$262.9M	$56.2M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,740.1	−0.055%	$30.2M	$63.7M	50x	as long as short
Hyperliquid ETH	+0.0109%	1h	2,743	+0.051%	$3.14B	$1.67B	25x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,743	+0.053%	$47.7M	$3.87B	50x	as long as short
Aftermath Perps ETHUSD	+0.0113%	1h	2,742.7	+0.040%	$30K	$8K	20x	as long as short
Kraken Futures PF_ETHUSD	+0.0120%	1h	2,742.2	+0.022%	$82.6M	$265.1M	100x	as long as short
Reya ETHRUSDPERP	+0.0146%	1h	2,739.9	−0.060%	$7.3M	$854K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0188%	8h	2,743.7	+0.077%	$32.4M	$9.9M	100x	as long as short
RISEx ETH/USDC	+0.0342%	1h	2,742	+0.016%	$5.7M	$10.4M	25x	as long as short
BloFin ETH-USDT	+0.0400%	8h	2,741.2	−0.013%	$285.6M	$147.0M	150x	as long as short
Paradex ETH-USD-PERP	+0.0459%	8h	2,742.5	+0.031%	$15.8M	$6.1M	50x	as long as short
Injective ETH/USDC PERP	+0.0477%	1h	2,745	+0.124%	$118K	$24.7M	52x	as long as short