Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0028%/8h= −3.0% APRpaid last 24h −0.015%

Price spread now: BingX against Jupiter Perps+0.041%7-day average −0.034% · you sell dearer than you buy

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

Long on Jupiter Perps Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.054%−$5 on $10k

Price spread, last 3 days (all we have)−0.056%−$6 · spread now +0.041%, 7d avg −0.034%

Together, before fees−0.110%−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.075% dearer against Jupiter Perps than usual: you sell high and buy low (spread +0.041% now, against its 7-day average of −0.034%): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 9.1 days. At the pace of the last 3 days (−0.054% in total) that is about 4.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Jupiter Perps ETH-PERP	2,777	L +0.0104% / S +0.0048%	pay 0.0013% / 1h	0m 59s	—	$41.8M	500x
Short	BingX ETH-USDC	2,778.1	0.0076	get 0.0076% / 8h	1h 00m	—	$17.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.041%Rate

Funding earned: −$5.8
Price spread: +0.041% → −0.034%: $7.53
Slippage, 4 orders: no order book: not counted
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$20.27
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Jupiter Perps: no order-book sample; BingX: live order book, 2 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 BingX live order book, 2 min ago	0.27 bp	5.3 bp −$5	6.2 bp −$62	8.1 bp −$812	11.7 bp −$5,843

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	2,776.6	−0.013%	$288K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,775.7	−0.046%	$5.7M	$11.9M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,776.6	−0.013%	$5K	$2K	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,771.7	−0.189%	$119K	$22.5M	52x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,776.7	−0.009%	$169K	$1.2M	50x	as long as short
dYdX ETH-USD	0.0000%	1h	2,777.1	+0.004%	$12.7M	$45.8M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,775.6	−0.049%	$885K	$3.7M	25x	as long as short
Aftermath Perps ETHUSD	0.0000%	1h	2,775.9	−0.038%	$29K	$22K	20x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,777.5	+0.019%	$22.4M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0018%	8h	2,778.4	+0.052%	$1.70B	$11.88B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet ETH-USD	+0.0022%	1h	2,776.2	−0.027%	$182K	$1.7M	20x	as long as short
Phemex ETHUSDT	+0.0023%	8h	2,776.9	−0.003%	$270.5M	$68.8M	150x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0027% / S +0.0009%	1h	2,777.2	+0.010%	$12.9M	—	200x	as long as short
Aster ETHUSDT	+0.0033%	8h	2,778.5	+0.056%	$254.9M	$995.5M	200x	as long as short
Deribit ETH-PERPETUAL	+0.0034%	1h	2,778.1	+0.040%	$258.7M	$222.7M	50x	as long as short
Nado ETH-PERP	+0.0056%	1h	2,776.1	−0.031%	$14.3M	$118.2M	50x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,774.2	−0.100%	$5.0M	$636K	20x	as long as short
ApeX Omni ETHUSDT	+0.0058%	1h	2,777.6	+0.021%	$8.8M	$32.7M	100x	as long as short
MEXC ETH_USDT	+0.0060%	8h	2,778.6	+0.058%	$1.60B	$2.68B	500x	as long as short
Binance ETHUSDT	+0.0061%	8h	2,778.6	+0.060%	$6.44B	$17.24B	150x	as long as short
SoDEX ETH-USD	+0.0061%	1h	2,776.5	−0.016%	$55.3M	$229.0M	40x	as long as short
Bitget ETHUSDT	+0.0065%	8h	2,778	+0.036%	$2.10B	$3.10B	150x	as long as short
Gate ETH_USDT	+0.0072%	8h	2,778.6	+0.057%	$3.31B	$9.69B	200x	as long as short
BingX ETH-USDCshort	+0.0076%	8h	2,778.1	+0.041%	—	$17.4M	—
HTX ETH-USDT	+0.0088%	8h	2,776.4	−0.021%	$1.08B	$1.32B	200x	as long as short
Bybit ETHUSDT	+0.0092%	8h	2,778.5	+0.057%	$2.52B	$4.63B	150x	as long as short
KuCoin ETHUSDTM	+0.0093%	8h	2,776.5	−0.016%	$422.4M	$739.2M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,776.9	−0.002%	$115.2M	$503.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,778.5	+0.056%	$25.5M	$122.0M	50x	as long as short
Vest ETH-PERP	+0.0096%	1h	2,776.7	−0.008%	—	$1.1M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,776.1	−0.030%	$16.0M	$10.5M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,776.5	−0.016%	$477K	$2.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,781.2	+0.153%	$3.20B	$2.35B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,776.8	−0.007%	$31.2M	$303.9M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,775.6	−0.049%	$2.8M	$17.1M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,777.1	+0.006%	$2.7M	$17.2M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,770.8	−0.221%	$166.1M	$253.0M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,778.6	+0.061%	$15.1M	$44.1M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,773.7	−0.117%	$147.3M	$337.0M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,777	+0.003%	$181.7M	$781.3M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,775.7	−0.045%	$161.4M	$90.8M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,776.3	−0.024%	$21.4M	$58.2M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,777.4	+0.016%	$10.8M	$7.6M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,777.3	+0.013%	$21K	$24K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,778.9	+0.071%	$42.8M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,775.5	−0.054%	$974K	$14.0M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,777.5	+0.019%	$32.6M	$77.5M	50x	as long as short
Jupiter Perps ETH-PERPlong	L +0.0104% / S +0.0048%	1h	2,777	long leg	—	$41.8M	500x
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,777.7	+0.025%	$59.9M	$4.60B	50x	as long as short
Kalshi KXETHPERP	+0.0126%	8h	2,776.8	−0.006%	$8.4M	$681.5M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0135%	8h	2,779.4	+0.088%	$32.6M	$12.0M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0169%	1h	2,777.6	+0.023%	$86.4M	$332.5M	100x	as long as short
BloFin ETH-USDT	+0.0181%	8h	2,776.5	−0.018%	$284.8M	$194.9M	150x	as long as short
Reya ETHRUSDPERP	+0.0196%	1h	2,776	−0.036%	$7.4M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0288%	1h	2,777.7	+0.027%	$270K	$1.5M	20x	as long as short