Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0003%/8h= −0.3% APRpaid last 24h +0.003%

Price spread now: Deribit against HTX+0.073%7-day average +0.058% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$210.213% of the position

Long on HTX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 3 days (all we have)−0.007%−$1 · spread now +0.073%, 7d avg +0.058%

Together, before fees0.000%$0 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ETH-USDT	2,768.3	0.0100	pay 0.0100% / 8h	7h 20m	$1.08B	$1.25B	200x
Short	Deribit ETH-PERPETUAL	2,770.3	0.0097	get 0.0012% / 1h	20m 59s	$259.1M	$204.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against HTX. 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 HTXbpFee DeribitbpOrdersPrice spread, now +0.073%Rate

Funding earned: −$0.63
Price spread: +0.073% → +0.058%: $1.49
Slippage, 4 orders: −$2.27
Fee HTX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$20.41
Costs to cover: 0.213%
Break-even: never at this rate

Slippage from HTX: live order book, 3 min ago; Deribit: 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 HTX live order book, 3 min ago	0.02 bp	6.0 bp −$6	6.0 bp −$60	7.2 bp −$715	10.3 bp −$5,140
Sell Deribit live order book, 3 min ago	0.09 bp	4.5 bp −$5	5.4 bp −$54	10.7 bp −$1,066	20.5 bp −$10.2K

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
Injective ETH/USDC PERP	−0.0752%	1h	2,776.9	+0.312%	$119K	$22.5M	52x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,768.2	−0.002%	$5.6M	$11.1M	25x	as long as short
Perpl ETH	−0.0112%	43m	2,768.3	−0.001%	$322K	$6.2M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,769.6	+0.048%	$5K	$1K	50x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,768.3	+0.001%	$169K	$1.1M	50x	as long as short
Phoenix ETH	−0.0003%	1h	2,772	+0.135%	$873K	$3.7M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,769.2	+0.034%	$12.2M	$43.2M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,769	+0.026%	$22.4M	—	200x	as long as short
Bullet ETH-USD	+0.0020%	1h	2,768.2	−0.003%	$185K	$1.7M	20x	as long as short
OKX ETH-USDT-SWAP	+0.0028%	8h	2,768.5	+0.009%	$1.71B	$11.14B	100x	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	+0.0034%	1h	2,768.7	+0.016%	$55.2M	$188.0M	40x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0043% / S −0.0009%	1h	2,768.8	+0.020%	$12.7M	—	200x	as long as short
Aster ETHUSDT	+0.0049%	8h	2,769	+0.025%	$256.1M	$885.2M	200x	as long as short
Gate ETH_USDT	+0.0058%	8h	2,768	−0.010%	$3.37B	$9.04B	200x	as long as short
Phemex ETHUSDT	+0.0062%	8h	2,768.1	−0.007%	$269.4M	$67.4M	150x	as long as short
Binance ETHUSDT	+0.0062%	8h	2,767.7	−0.019%	$6.48B	$16.28B	150x	as long as short
MEXC ETH_USDT	+0.0063%	8h	2,767.8	−0.016%	$1.62B	$2.64B	500x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,768.4	+0.004%	$5.0M	$165K	20x	as long as short
Aftermath Perps ETHUSD	+0.0071%	1h	2,772.5	+0.153%	$31K	$21K	20x	as long as short
Bitget ETHUSDT	+0.0075%	8h	2,768.9	+0.022%	$2.10B	$2.87B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,770	+0.064%	$60.3M	$4.42B	50x	as long as short
Vest ETH-PERP	+0.0083%	1h	2,769	+0.027%	—	$876K	50x	as long as short
KuCoin ETHUSDTM	+0.0085%	8h	2,768.3	+0.001%	$420.1M	$619.9M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,769.3	+0.038%	$114.9M	$458.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,769.8	+0.054%	$25.6M	$111.7M	50x	as long as short
Deribit ETH-PERPETUALshort	+0.0097%	1h	2,770.3	+0.073%	$259.1M	$204.8M	50x
Paradex ETH-USD-PERP	+0.0099%	8h	2,770.6	+0.083%	$15.9M	$8.6M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,768.6	+0.012%	$488K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,768	−0.008%	$14.6M	$113.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,770.5	+0.081%	$3.17B	$2.18B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,768.7	+0.015%	$31.2M	$325.2M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,768.3	+0.001%	$2.51B	$4.36B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,767.3	−0.035%	$2.8M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,768.8	+0.018%	$2.8M	$16.9M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,772.8	+0.165%	$170.3M	$276.6M	25x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,767.5	−0.028%	—	$17.3M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,768.1	−0.006%	$15.2M	$42.0M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,768.5	+0.010%	$137.0M	$344.9M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,771.9	+0.129%	$182.0M	$784.8M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,775.8	+0.271%	$161.4M	$84.7M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,771.6	+0.122%	$8.7M	$32.1M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,770.8	+0.091%	$21.4M	$64.0M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,768.5	+0.008%	$10.5M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,768.9	+0.022%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,770.7	+0.089%	$42.6M	$28.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,768.5	+0.007%	$970K	$13.1M	100x	as long as short
HTX ETH-USDTlong	+0.0100%	8h	2,768.3	long leg	$1.08B	$1.25B	200x
Extended ETH-USD	+0.0104%	1h	2,768.1	−0.006%	$31.0M	$74.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,769.8	+0.054%	—	$36.2M	500x	as long as short
Kalshi KXETHPERP	+0.0110%	8h	2,769.8	+0.055%	$8.1M	$679.5M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,770.3	+0.073%	$95.9M	$319.0M	100x	as long as short
Hibachi ETH/USDT-P	+0.0152%	1h	2,771	+0.098%	$252K	$1.5M	20x	as long as short
Orderly PERP_ETH_USDC	+0.0154%	8h	2,771.3	+0.108%	$32.6M	$11.1M	100x	as long as short
BloFin ETH-USDT	+0.0182%	8h	2,768.7	+0.016%	$287.1M	$181.1M	150x	as long as short
Reya ETHRUSDPERP	+0.0212%	1h	2,768.3	0.000%	$7.3M	$1.1M	25x	as long as short