Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0017%/8h= −1.8% APRpaid last 24h −0.024%

Price spread now: Aster against Hibachi−0.116%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs+$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$220.218% of the position

Long on Hibachi Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.254%+$25 on $10k

Price spread, last 7 days+0.073%+$7 · spread now −0.116%, 7d avg −0.024%

Together, before fees+0.327%+ Points / potential airdropHibachi: Active · Aster: Stage 5 · farm board+$33 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Aster is 0.092% cheaper against Hibachi than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.024%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.254%, 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	Hibachi ETH/USDT-P	2,773.9	0.0048	pay 0.0006% / 1h	51m 04s	$288K	$1.5M	20x
Short	Aster ETHUSDT	2,770.7	0.0031	get 0.0031% / 8h	1h 51m	$256.2M	$993.1M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Hibachi. 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 HibachibpFee AsterbpOrdersPrice spread, now −0.116%Rate

Funding earned: −$3.5
Price spread: −0.116% → −0.024%: −$9.2
Slippage, 4 orders: −$4.8
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$34.5
Costs to cover: 0.218%
Break-even: never at this rate

Slippage from Hibachi: live order book, 3 min ago; Aster: 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 Hibachi live order book, 3 min ago	0.38 bp	6.5 bp −$6	12.9 bp −$129	doesn't fit	doesn't fit
Sell Aster live order book, 3 min ago	0.02 bp	4.0 bp −$4	4.3 bp −$43	5.2 bp −$522	12.4 bp −$6,175

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	2,771.6	−0.082%	$289K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,770.6	−0.117%	$5.7M	$12.1M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,771.8	−0.075%	$5K	$2K	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,773.3	−0.021%	$119K	$22.5M	52x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,770.9	−0.107%	$169K	$1.2M	50x	as long as short
Aftermath Perps ETHUSD	−0.0001%	1h	2,772.3	−0.056%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,771.2	−0.096%	$12.7M	$45.5M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,772	−0.067%	$884K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,772.3	−0.058%	$22.4M	—	200x	as long as short
BingX ETH-USDT	+0.0018%	8h	2,770.5	−0.123%	—	$1.18B	—	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	2,770.4	−0.126%	$1.71B	$11.84B	100x	as long as short
Phemex ETHUSDT	+0.0023%	8h	2,770.8	−0.112%	$266.9M	$65.7M	150x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,772.2	−0.061%	$13.2M	—	200x	as long as short
Aster ETHUSDTshort	+0.0031%	8h	2,770.7	−0.116%	$256.2M	$993.1M	200x
Nado ETH-PERP	+0.0038%	1h	2,771.1	−0.099%	$14.3M	$118.5M	50x	as long as short
Bullet ETH-USD	+0.0039%	1h	2,771	−0.105%	$182K	$1.8M	20x	as long as short
Hibachi ETH/USDT-Plong	+0.0048%	1h	2,773.9	long leg	$288K	$1.5M	20x
MEXC ETH_USDT	+0.0053%	8h	2,770.8	−0.111%	$1.61B	$2.63B	500x	as long as short
Binance ETHUSDT	+0.0053%	8h	2,770.6	−0.116%	$6.43B	$17.17B	150x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,769.7	−0.151%	$5.0M	$636K	20x	as long as short
SoDEX ETH-USD	+0.0067%	1h	2,770.7	−0.114%	$55.2M	$228.6M	40x	as long as short
Bitget ETHUSDT	+0.0073%	8h	2,770.5	−0.121%	$2.10B	$3.11B	150x	as long as short
Gate ETH_USDT	+0.0082%	8h	2,770.6	−0.119%	$3.29B	$9.54B	200x	as long as short
Deribit ETH-PERPETUAL	+0.0086%	1h	2,772.2	−0.060%	$258.4M	$224.4M	50x	as long as short
Lighter ETH	+0.0096%	1h	2,771.1	−0.101%	$114.9M	$495.9M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,772.6	−0.045%	$25.4M	$120.7M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,772.2	−0.061%	—	$41.7M	500x	as long as short
HTX ETH-USDT	+0.0097%	8h	2,770.3	−0.130%	$1.08B	$1.32B	200x	as long as short
Variational Omni ETH	+0.0098%	8h	2,772.1	−0.062%	$135.2M	$326.5M	—	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,770	−0.140%	$15.9M	$10.6M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,771.2	−0.096%	$481K	$2.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,772.7	−0.042%	$3.19B	$2.38B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,771.1	−0.098%	$31.2M	$293.6M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,770.5	−0.123%	$2.51B	$4.61B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,770	−0.139%	$2.8M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,772.4	−0.052%	$2.8M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,770.6	−0.118%	$166.0M	$246.3M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,771.3	−0.091%	$423.9M	$740.4M	100x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,771.3	−0.092%	$15.2M	$44.0M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,772.5	−0.048%	$179.7M	$779.2M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,776.1	+0.081%	$161.5M	$95.8M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,771.8	−0.075%	$8.7M	$32.7M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,773.8	−0.002%	$21.4M	$57.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,771.4	−0.087%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,772.6	−0.046%	$10.8M	$7.7M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,772	−0.066%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,773.3	−0.022%	$42.7M	$29.3M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,770.4	−0.124%	$970K	$14.0M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,770.2	−0.133%	$31.4M	$75.1M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,772	−0.067%	$59.9M	$4.60B	50x	as long as short
Kalshi KXETHPERP	+0.0108%	8h	2,772.1	−0.064%	$8.5M	$673.2M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0138%	8h	2,773.7	−0.007%	$32.5M	$12.0M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0170%	1h	2,771.7	−0.077%	$86.1M	$330.7M	100x	as long as short
BloFin ETH-USDT	+0.0173%	8h	2,771	−0.103%	$285.0M	$194.9M	150x	as long as short
Reya ETHRUSDPERP	+0.0187%	1h	2,770.9	−0.107%	$7.3M	$1.1M	25x	as long as short