Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0028%/8h= −3.0% APRpaid last 24h +0.026%

Price spread now: SoDEX against Gate−0.024%7-day average −0.007% · 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−$25as in the Price arb table

costs, in and out, $10k−$230.234% of the position

Long on Gate Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.042%+$4 on $10k

Price spread, last 3 days (all we have)−0.083%−$8 · spread now −0.024%, 7d avg −0.007%

Together, before fees−0.041%−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.007%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ETH_USDT	2,776.8	0.0053	pay 0.0053% / 8h	2h 56m	$3.29B	$9.50B	200x
Short	SoDEX ETH-USD	2,776.1	0.0025	get 0.0003% / 1h	56m 59s	$55.3M	$228.5M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$5.82
Price spread: −0.024% → −0.007%: −$1.74
Slippage, 4 orders: −$0.4
Fee Gate: 7.5 bp × 2 orders: −$15
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$30.96
Costs to cover: 0.234%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; SoDEX: 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 Gate live order book, 2 min ago	0.02 bp	7.5 bp −$8	8.2 bp −$82	11.5 bp −$1,152	20.1 bp −$10.1K
Sell SoDEX live order book, 2 min ago	0.18 bp	4.2 bp −$4	4.3 bp −$43	5.6 bp −$564	31.1 bp −$15.6K

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	2,775.6	−0.044%	$290K	$6.9M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0107%	1h	2,773.8	−0.107%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,778.7	+0.070%	$5K	$2K	50x	as long as short
01 Exchange ETHUSD	−0.0048%	1h	2,775.7	−0.039%	$172K	$1.2M	50x	as long as short
Phoenix ETH	−0.0032%	1h	2,776.7	−0.003%	$794K	$3.7M	25x	as long as short
RISEx ETH/USDC	−0.0011%	1h	2,775.4	−0.050%	$5.8M	$12.0M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,776	−0.027%	$13.0M	$45.3M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,776.5	−0.011%	$22.4M	—	200x	as long as short
Phemex ETHUSDT	+0.0013%	8h	2,776.8	0.000%	$267.3M	$66.0M	150x	as long as short
BingX ETH-USDT	+0.0017%	8h	2,776.7	−0.001%	—	$1.20B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0022%	8h	2,777	+0.008%	$1.71B	$11.98B	100x	as long as short
SoDEX ETH-USDshort	+0.0025%	1h	2,776.1	−0.024%	$55.3M	$228.5M	40x
GMX ETH/USD [ETH-USDC]	L +0.0027% / S +0.0009%	1h	2,776.3	−0.018%	$13.0M	—	200x	as long as short
Aftermath Perps ETHUSD	+0.0032%	1h	2,781.3	+0.162%	$29K	$22K	20x	as long as short
MEXC ETH_USDT	+0.0045%	8h	2,776.9	+0.004%	$1.61B	$2.61B	500x	as long as short
Binance ETHUSDT	+0.0046%	8h	2,777	+0.006%	$6.46B	$17.37B	150x	as long as short
Aevo ETH-PERP	+0.0048%	1h	2,775.2	−0.057%	$5.0M	$636K	20x	as long as short
Aster ETHUSDT	+0.0050%	8h	2,777	+0.008%	$256.7M	$1.00B	200x	as long as short
Gate ETH_USDTlong	+0.0053%	8h	2,776.8	long leg	$3.29B	$9.50B	200x
ApeX Omni ETHUSDT	+0.0054%	1h	2,780.8	+0.147%	$10.5M	$30.9M	100x	as long as short
Bitget ETHUSDT	+0.0074%	8h	2,777.1	+0.011%	$2.10B	$3.17B	150x	as long as short
Variational Omni ETH	+0.0093%	8h	2,785.4	+0.312%	$141.2M	$320.4M	—	as long as short
Bullet ETH-USD	+0.0094%	1h	2,775.3	−0.052%	$189K	$1.8M	20x	as long as short
Lighter ETH	+0.0096%	1h	2,777.5	+0.026%	$115.4M	$505.9M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,778.1	+0.048%	$25.5M	$121.3M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,776.4	−0.013%	—	$46.4M	500x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,775.9	−0.031%	$15.9M	$11.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,776.1	−0.024%	$493K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,775.2	−0.057%	$16.3M	$115.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,779.4	+0.095%	$3.21B	$2.41B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,775.3	−0.053%	$31.2M	$281.2M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,777.1	+0.010%	$2.52B	$4.68B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,773.7	−0.111%	$2.9M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,776.9	+0.004%	$2.9M	$17.7M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,780.5	+0.135%	$165.0M	$263.0M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,776.8	+0.001%	$427.2M	$749.9M	100x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,777.6	+0.030%	$15.4M	$42.5M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,782	+0.187%	$177.9M	$785.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,780.7	+0.142%	$161.8M	$98.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,779.6	+0.102%	$21.5M	$57.4M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,776.8	0.000%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,777.3	+0.019%	$10.8M	$7.9M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,776.1	−0.024%	$21K	$25K	25x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,775.5	−0.047%	$973K	$14.4M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,775.3	−0.053%	$1.08B	$1.32B	200x	as long as short
Extended ETH-USD	+0.0104%	1h	2,776.6	−0.005%	$31.7M	$76.9M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,777.8	+0.037%	$60.4M	$4.67B	50x	as long as short
Kalshi KXETHPERP	+0.0110%	8h	2,776.4	−0.013%	$8.6M	$673.1M	4.9x	as long as short
Derive ETH-PERP	+0.0115%	1h	2,778.5	+0.061%	$43.0M	$30.0M	15x	as long as short
Orderly PERP_ETH_USDC	+0.0127%	8h	2,778.8	+0.071%	$32.6M	$11.7M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0146%	1h	2,778.2	+0.050%	$258.9M	$224.3M	50x	as long as short
BloFin ETH-USDT	+0.0166%	8h	2,775.9	−0.032%	$287.4M	$197.8M	150x	as long as short
Reya ETHRUSDPERP	+0.0195%	1h	2,774.7	−0.074%	$7.5M	$1.0M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0240%	1h	2,777.8	+0.037%	$88.7M	$333.5M	100x	as long as short
Hibachi ETH/USDT-P	+0.0344%	1h	2,778.2	+0.053%	$274K	$1.5M	20x	as long as short