Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.062%

Price spread now: dYdX against Gate+0.083%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$350.351% of the position

Long on Gate Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.224%+$22 on $10k

Price spread, last 7 days+0.009%+$1 · spread now +0.083%, 7d avg −0.001%

Together, before fees+0.233%+$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.084% dearer against Gate than usual: you sell high and buy low (spread +0.083% now, against its 7-day average of −0.001%): +$8 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.2 days. Mind the row above: over the last 7 days funding on this pair paid +0.224%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ETH_USDT	2,768.5	0.0067	pay 0.0067% / 8h	11m 04s	$3.29B	$9.69B	200x
Short	dYdX ETH-USD	2,770.8	0	get 0.0000% / 1h	11m 04s	$12.7M	$45.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Gate. 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 GatebpFee dYdXbpOrdersPrice spread, now +0.083%Rate

Funding earned: −$14.07
Price spread: +0.083% → −0.001%: $8.36
Slippage, 4 orders: −$10.14
Fee Gate: 7.5 bp × 2 orders: −$15
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$40.85
Costs to cover: 0.351%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; dYdX: live order book, 3 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 Gate live order book, 3 min ago	0.02 bp	7.5 bp −$8	7.6 bp −$76	10.1 bp −$1,014	19.9 bp −$9,938
Sell dYdX live order book, 3 min ago	5.05 bp	10.1 bp −$10	14.6 bp −$146	25.2 bp −$2,518	42.4 bp −$21.2K

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	−0.0223%	43m	2,770	+0.053%	$286K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0206%	1h	2,769.1	+0.019%	$5.6M	$11.9M	25x	as long as short
Injective ETH/USDC PERP	−0.0088%	1h	2,762.1	−0.232%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,769.5	+0.035%	$5K	$2K	50x	as long as short
ApeX Omni ETHUSDT	−0.0023%	1h	2,770.5	+0.071%	$8.7M	$32.9M	100x	as long as short
01 Exchange ETHUSD	−0.0008%	1h	2,769.3	+0.028%	$168K	$1.2M	50x	as long as short
dYdX ETH-USDshort	0.0000%	1h	2,770.8	+0.083%	$12.7M	$45.9M	50x
Phoenix ETH	+0.0003%	1h	2,771.8	+0.118%	$876K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,769.5	+0.036%	$22.4M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0022%	8h	2,770	+0.053%	$1.70B	$11.88B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX ETH/USD [ETH-USDC]	L +0.0026% / S +0.0009%	1h	2,769.6	+0.038%	$12.8M	—	200x	as long as short
Phemex ETHUSDT	+0.0029%	8h	2,768.5	0.000%	$269.9M	$68.9M	150x	as long as short
Aftermath Perps ETHUSD	+0.0030%	1h	2,771.6	+0.112%	$29K	$22K	20x	as long as short
SoDEX ETH-USD	+0.0031%	1h	2,768.4	−0.004%	$55.1M	$228.9M	40x	as long as short
Aster ETHUSDT	+0.0032%	8h	2,770.2	+0.061%	$255.7M	$1.00B	200x	as long as short
Bullet ETH-USD	+0.0038%	1h	2,768.9	+0.014%	$181K	$1.7M	20x	as long as short
Deribit ETH-PERPETUAL	+0.0053%	1h	2,770.2	+0.060%	$259.0M	$222.1M	50x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,766.9	−0.059%	$5.0M	$636K	20x	as long as short
Binance ETHUSDT	+0.0056%	8h	2,770	+0.053%	$6.45B	$17.29B	150x	as long as short
MEXC ETH_USDT	+0.0057%	8h	2,770.1	+0.058%	$1.62B	$2.66B	500x	as long as short
Bitget ETHUSDT	+0.0065%	8h	2,770.3	+0.065%	$2.10B	$3.10B	150x	as long as short
Gate ETH_USDTlong	+0.0067%	8h	2,768.5	long leg	$3.29B	$9.69B	200x
KuCoin ETHUSDTM	+0.0080%	8h	2,769.3	+0.029%	$420.7M	$738.5M	100x	as long as short
Bybit ETHUSDT	+0.0088%	8h	2,770.3	+0.064%	$2.50B	$4.62B	150x	as long as short
BingX ETH-USDC	+0.0088%	8h	2,768.1	−0.014%	—	$17.4M	—	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,769.9	+0.048%	$60.1M	$4.59B	50x	as long as short
HTX ETH-USDT	+0.0094%	8h	2,768.6	+0.004%	$1.08B	$1.32B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,768.9	+0.015%	$115.0M	$500.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,770.6	+0.075%	$25.3M	$122.0M	50x	as long as short
Vest ETH-PERP	+0.0096%	1h	2,769.7	+0.041%	—	$1.1M	50x	as long as short
Nado ETH-PERP	+0.0099%	1h	2,768.9	+0.012%	$14.3M	$118.2M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,768.5	0.000%	$15.9M	$10.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,768.6	+0.003%	$475K	$2.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,771.2	+0.097%	$3.17B	$2.36B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,769.5	+0.036%	$31.2M	$315.2M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,768.8	+0.010%	$2.8M	$17.2M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,769.9	+0.051%	$2.7M	$17.3M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,773	+0.160%	$170.1M	$265.7M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,768.7	+0.008%	$15.1M	$44.2M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,768.4	−0.003%	$147.1M	$335.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,770	+0.053%	$181.8M	$783.7M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,770.4	+0.068%	$161.1M	$89.8M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,771.4	+0.104%	$21.4M	$58.5M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,769.1	+0.021%	$10.6M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,769.9	+0.049%	$21K	$24K	25x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,768.1	−0.016%	$971K	$13.9M	100x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,771.2	+0.098%	$42.7M	$29.4M	15x	as long as short
Extended ETH-USD	+0.0104%	1h	2,769.6	+0.039%	$32.5M	$78.3M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,771.1	+0.094%	—	$43.7M	500x	as long as short
Kalshi KXETHPERP	+0.0107%	8h	2,770.1	+0.057%	$8.2M	$687.5M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0123%	1h	2,770	+0.054%	$90.3M	$338.3M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0143%	8h	2,771.3	+0.100%	$32.6M	$12.2M	100x	as long as short
BloFin ETH-USDT	+0.0176%	8h	2,768.4	−0.004%	$286.2M	$194.2M	150x	as long as short
Reya ETHRUSDPERP	+0.0204%	1h	2,768.7	+0.006%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0208%	1h	2,771.6	+0.112%	$252K	$1.6M	20x	as long as short