Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0005%/8h= −0.6% APRpaid last 24h −0.006%

Price spread now: Binance against Jupiter Perps−0.026%7-day average −0.015% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Jupiter Perps Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.020%−$2 on $10k

Price spread, last 4 days (all we have)−0.173%−$17 · spread now −0.026%, 7d avg −0.015%

Together, before fees−0.193%−$19 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Jupiter Perps ETH-PERP	2,741	L +0.0096% / S +0.0056%	pay 0.0012% / 1h	55m 29s	—	$30.5M	500x
Short	Binance ETHUSDT	2,740.3	0.0091	get 0.0091% / 8h	4h 55m	$6.36B	$15.70B	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Jupiter Perps. 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 Jupiter PerpsbpFee BinancebpOrdersPrice spread, now −0.026%Rate

Funding earned: −$1.13
Price spread: −0.026% → −0.015%: −$1.11
Slippage, 4 orders: no order book: not counted
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$24.23
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Jupiter Perps: no order-book sample; Binance: live order book, 4 min ago. Net counts fees only.

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 Jupiter Perps no order-book sample	—	—	—	—	—
Sell Binance live order book, 4 min ago	0.02 bp	5.0 bp −$5	5.0 bp −$50	5.5 bp −$552	8.2 bp −$4,123

Jupiter Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	2,739.8	−0.045%	$300K	$5.5M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,736.3	−0.172%	$117K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,742	+0.036%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,740.7	−0.011%	$12.0M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,741	+0.001%	$10.8M	$41.7M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,740.8	−0.008%	$182K	$834K	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,740.8	−0.009%	$25.4M	—	200x	as long as short
Phoenix ETH	+0.0017%	1h	2,739	−0.074%	$832K	$2.9M	25x	as long as short
BingX ETH-USDC	+0.0055%	8h	2,740.1	−0.033%	—	$18.4M	—	as long as short
Bullet ETH-USD	+0.0067%	1h	2,740	−0.036%	$181K	$1.7M	20x	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	+0.0069%	8h	2,739.3	−0.062%	$1.69B	$10.60B	100x	as long as short
KuCoin ETHUSDTM	+0.0072%	8h	2,740.4	−0.023%	$380.9M	$573.7M	100x	as long as short
SoDEX ETH-USD	+0.0073%	1h	2,741.3	+0.010%	$54.6M	$187.6M	40x	as long as short
Aster ETHUSDT	+0.0082%	8h	2,740.5	−0.018%	$253.5M	$840.5M	200x	as long as short
MEXC ETH_USDT	+0.0088%	8h	2,739.8	−0.044%	$1.56B	$2.52B	500x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,738.8	−0.080%	$4.9M	$154K	20x	as long as short
Binance ETHUSDTshort	+0.0091%	8h	2,740.3	−0.026%	$6.36B	$15.70B	150x
Lighter ETH	+0.0096%	1h	2,740.6	−0.014%	$112.4M	$430.5M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,742.2	+0.042%	$24.6M	$102.9M	50x	as long as short
Jupiter Perps ETH-PERPlong	L +0.0096% / S +0.0056%	1h	2,741	long leg	—	$30.5M	500x
RISEx ETH/USDC	+0.0099%	1h	2,741.3	+0.011%	$5.6M	$11.4M	25x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,744.6	+0.132%	$15.8M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,740.3	−0.026%	$500K	$3.1M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,740.3	−0.028%	$13.9M	$104.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,741.3	+0.010%	$3.11B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,740.9	−0.004%	$31.7M	$335.1M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,740.7	−0.012%	$2.43B	$4.18B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,741	−0.001%	$2.7M	$16.9M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,741.3	+0.011%	$2.8M	$16.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,739.7	−0.047%	$165.8M	$302.8M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,740.6	−0.017%	$3.39B	$8.67B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,740	−0.038%	$2.08B	$2.72B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,741.6	+0.021%	$15.0M	$39.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,741	−0.002%	$133.2M	$324.9M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,734.9	−0.222%	$181.8M	$664.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,737.4	−0.134%	$159.2M	$83.8M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,734.9	−0.222%	$8.7M	$30.7M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,742	+0.036%	$21.2M	$69.6M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,740.5	−0.019%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,741.3	+0.010%	$11.0M	$8.8M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,743.2	+0.079%	$41.4M	$29.7M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,740.9	−0.003%	$960K	$11.4M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,741.5	+0.016%	$1.06B	$1.18B	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,741.7	+0.023%	$266.4M	$65.2M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,739.6	−0.051%	$30.6M	$72.3M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,743.2	+0.080%	$53.1M	$4.26B	50x	as long as short
Aftermath Perps ETHUSD	+0.0133%	1h	2,740.4	−0.023%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0158%	8h	2,740.7	−0.012%	$7.6M	$672.6M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0191%	1h	2,743.1	+0.076%	$260.0M	$194.9M	50x	as long as short
Orderly PERP_ETH_USDC	+0.0195%	8h	2,743.8	+0.102%	$32.3M	$11.5M	100x	as long as short
BloFin ETH-USDT	+0.0210%	8h	2,737.7	−0.123%	$285.5M	$175.3M	150x	as long as short
Kraken Futures PF_ETHUSD	+0.0221%	1h	2,742.3	+0.046%	$86.0M	$309.8M	100x	as long as short
Reya ETHRUSDPERP	+0.0225%	1h	2,739.1	−0.071%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,742.7	+0.062%	$252K	$1.4M	20x	as long as short
Bluefin ETH-PERP	+0.4134%	1h	2,742.4	+0.051%	$21K	$20K	25x	as long as short