Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.017%

Price spread now: edgeX against Hyperliquid−0.247%7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$210.207% of the position

Long on Hyperliquid Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.021%+$2 on $10k

Price spread, last 7 days+0.219%+$22 · spread now −0.247%, 7d avg −0.069%

Together, before fees+0.240%+ Points / potential airdropHyperliquid: Season 2 · edgeX: Active · farm board+$24 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: edgeX is 0.177% cheaper against Hyperliquid than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of −0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ETH	2,775	0.0100	pay 0.0013% / 1h	57m 11s	$3.19B	$2.40B	25x
Short	edgeX ETHUSDC	2,768.2	0.0100	get 0.0050% / 4h	1h 57m	$179.4M	$778.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Hyperliquid. 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 HyperliquidbpFee edgeXbpOrdersPrice spread, now −0.247%Rate

Funding earned: $0
Price spread: −0.247% → −0.069%: −$17.72
Slippage, 4 orders: −$2.69
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$38.41
Costs to cover: 0.207%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 7 min ago; edgeX: 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 Hyperliquid live order book, 7 min ago	0.18 bp	6.2 bp −$6	7.1 bp −$71	8.7 bp −$874	10.7 bp −$5,348
Sell edgeX live order book, 2 min ago	0.07 bp	4.9 bp −$5	4.9 bp −$49	5.0 bp −$502	6.1 bp −$3,072

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	2,767.7	−0.264%	$289K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,768	−0.252%	$5.8M	$12.1M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,768	−0.252%	$5K	$2K	50x	as long as short
01 Exchange ETHUSD	−0.0056%	1h	2,768.6	−0.231%	$169K	$1.2M	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,768.7	−0.227%	$119K	$22.5M	52x	as long as short
Phoenix ETH	−0.0023%	1h	2,770.5	−0.162%	$884K	$3.6M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,770	−0.179%	$12.7M	$45.5M	50x	as long as short
Aftermath Perps ETHUSD	+0.0003%	1h	2,770.7	−0.155%	$29K	$22K	20x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,771.2	−0.137%	$22.4M	—	200x	as long as short
Hibachi ETH/USDT-P	+0.0008%	1h	2,770.8	−0.152%	$279K	$1.5M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ETH-PERP	+0.0010%	1h	2,768.2	−0.247%	$14.3M	$118.8M	50x	as long as short
BingX ETH-USDT	+0.0017%	8h	2,772.9	−0.075%	—	$1.18B	—	as long as short
OKX ETH-USDT-SWAP	+0.0022%	8h	2,772.2	−0.101%	$1.71B	$11.87B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,771.1	−0.141%	$13.2M	—	200x	as long as short
Bullet ETH-USD	+0.0031%	1h	2,769.9	−0.184%	$183K	$1.8M	20x	as long as short
Aster ETHUSDT	+0.0032%	8h	2,771.8	−0.114%	$256.3M	$994.0M	200x	as long as short
ApeX Omni ETHUSDT	+0.0034%	1h	2,770.6	−0.158%	$8.7M	$32.6M	100x	as long as short
Phemex ETHUSDT	+0.0036%	8h	2,771	−0.145%	$266.9M	$65.9M	150x	as long as short
Aevo ETH-PERP	+0.0048%	1h	2,768.5	−0.234%	$5.0M	$636K	20x	as long as short
MEXC ETH_USDT	+0.0052%	8h	2,770.8	−0.150%	$1.59B	$2.62B	500x	as long as short
Binance ETHUSDT	+0.0052%	8h	2,773.2	−0.066%	$6.44B	$17.20B	150x	as long as short
Bitget ETHUSDT	+0.0074%	8h	2,773	−0.072%	$2.10B	$3.12B	150x	as long as short
Gate ETH_USDT	+0.0076%	8h	2,774	−0.037%	$3.29B	$9.53B	200x	as long as short
SoDEX ETH-USD	+0.0087%	1h	2,770.4	−0.166%	$55.2M	$228.6M	40x	as long as short
HTX ETH-USDT	+0.0096%	8h	2,770.6	−0.160%	$1.08B	$1.32B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,771.4	−0.129%	$114.8M	$494.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,772.7	−0.081%	$25.4M	$120.5M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,768.5	−0.233%	—	$41.8M	500x	as long as short
Variational Omni ETH	+0.0099%	8h	2,770.9	−0.148%	$140.8M	$321.1M	—	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,768.6	−0.230%	$15.9M	$10.7M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,768.8	−0.223%	$481K	$2.7M	50x	as long as short
Hyperliquid ETHlong	+0.0100%	1h	2,775	long leg	$3.19B	$2.40B	25x
Pacifica ETH	+0.0100%	1h	2,769.2	−0.208%	$31.2M	$293.6M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,773.3	−0.061%	$2.51B	$4.63B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,767.5	−0.270%	$2.8M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,769.8	−0.188%	$2.8M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,771	−0.146%	$164.2M	$249.6M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,770.7	−0.154%	$422.2M	$741.3M	100x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,773.6	−0.052%	$15.2M	$43.8M	50x	as long as short
edgeX ETHUSDCshort	+0.0100%	4h	2,768.2	−0.247%	$179.4M	$778.3M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,771.5	−0.127%	$161.2M	$96.5M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,769.7	−0.191%	$21.4M	$57.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,769.5	−0.200%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,771.1	−0.141%	$10.8M	$7.7M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,771.5	−0.126%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,773.5	−0.052%	$42.7M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,767.5	−0.270%	$971K	$14.1M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,769.9	−0.184%	$31.5M	$75.3M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,772	−0.110%	$59.9M	$4.61B	50x	as long as short
Deribit ETH-PERPETUAL	+0.0107%	1h	2,772.3	−0.098%	$258.4M	$225.1M	50x	as long as short
Kalshi KXETHPERP	+0.0109%	8h	2,770.8	−0.151%	$8.6M	$673.1M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0136%	8h	2,774	−0.035%	$32.5M	$12.1M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0170%	1h	2,772	−0.109%	$86.1M	$331.6M	100x	as long as short
BloFin ETH-USDT	+0.0172%	8h	2,770.6	−0.158%	$285.9M	$194.9M	150x	as long as short
Reya ETHRUSDPERP	+0.0186%	1h	2,770	−0.180%	$7.3M	$1.1M	25x	as long as short