Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0074%/8h= −8.1% APRpaid last 24h −0.017%

Price spread now: OKX against Jupiter Perps−0.103%7-day average −0.023% · you buy dearer than you sell

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

Long on Jupiter Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.039%−$4 on $10k

Price spread, last 3 days (all we have)−0.080%−$8 · spread now −0.103%, 7d avg −0.023%

Together, before fees−0.120%−$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and OKX is 0.080% cheaper against Jupiter Perps than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.023%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Jupiter Perps ETH-PERP	2,776.5	L +0.0096% / S +0.0048%	pay 0.0012% / 1h	56m 00s	—	$46.4M	500x
Short	OKX ETH-USDT-SWAP	2,773.6	0.0022	get 0.0022% / 8h	2h 56m	$1.71B	$11.92B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.103%Rate

Funding earned: −$15.52
Price spread: −0.103% → −0.023%: −$8.01
Slippage, 4 orders: no order book: not counted
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$45.53
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Jupiter Perps: no order-book sample; OKX: live order book, 3 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 OKX live order book, 3 min ago	0.02 bp	5.0 bp −$5	5.0 bp −$50	6.1 bp −$608	8.0 bp −$4,005

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	2,774.1	−0.088%	$290K	$6.9M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0107%	1h	2,773.8	−0.097%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,776.1	−0.015%	$5K	$2K	50x	as long as short
01 Exchange ETHUSD	−0.0048%	1h	2,772.9	−0.130%	$172K	$1.2M	50x	as long as short
Phoenix ETH	−0.0032%	1h	2,776.7	+0.007%	$794K	$3.7M	25x	as long as short
RISEx ETH/USDC	−0.0011%	1h	2,773	−0.125%	$5.8M	$12.0M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,775.9	−0.023%	$13.0M	$45.3M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,774.8	−0.061%	$22.4M	—	200x	as long as short
Phemex ETHUSDT	+0.0015%	8h	2,774.3	−0.079%	$267.0M	$66.0M	150x	as long as short
BingX ETH-USDT	+0.0017%	8h	2,773.4	−0.113%	—	$1.20B	—	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	+0.0021%	1h	2,774.6	−0.069%	$55.2M	$228.5M	40x	as long as short
OKX ETH-USDT-SWAPshort	+0.0022%	8h	2,773.6	−0.103%	$1.71B	$11.92B	100x
Aftermath Perps ETHUSD	+0.0027%	1h	2,780.1	+0.130%	$29K	$22K	20x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0027% / S +0.0009%	1h	2,774.7	−0.064%	$13.1M	—	200x	as long as short
Binance ETHUSDT	+0.0044%	8h	2,773.7	−0.102%	$6.46B	$17.35B	150x	as long as short
MEXC ETH_USDT	+0.0045%	8h	2,774.1	−0.086%	$1.61B	$2.61B	500x	as long as short
Aster ETHUSDT	+0.0047%	8h	2,773.6	−0.104%	$256.4M	$1.00B	200x	as long as short
Aevo ETH-PERP	+0.0048%	1h	2,773.3	−0.117%	$5.0M	$636K	20x	as long as short
Gate ETH_USDT	+0.0053%	8h	2,773.5	−0.107%	$3.29B	$9.51B	200x	as long as short
ApeX Omni ETHUSDT	+0.0054%	1h	2,780.8	+0.156%	$10.5M	$30.9M	100x	as long as short
Bitget ETHUSDT	+0.0074%	8h	2,773.7	−0.101%	$2.09B	$3.14B	150x	as long as short
Bullet ETH-USD	+0.0080%	1h	2,773.8	−0.098%	$188K	$1.8M	20x	as long as short
Variational Omni ETH	+0.0093%	8h	2,785.4	+0.321%	$141.2M	$320.4M	—	as long as short
Lighter ETH	+0.0096%	1h	2,774.9	−0.058%	$115.3M	$506.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,776.3	−0.007%	$25.5M	$121.3M	50x	as long as short
Jupiter Perps ETH-PERPlong	L +0.0096% / S +0.0048%	1h	2,776.5	long leg	—	$46.4M	500x
Paradex ETH-USD-PERP	+0.0100%	8h	2,775.5	−0.035%	$15.9M	$11.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,773.6	−0.105%	$493K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,772.5	−0.143%	$16.3M	$115.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,777.2	+0.025%	$3.20B	$2.41B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,775.6	−0.033%	$31.2M	$281.2M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,773.4	−0.112%	$2.51B	$4.65B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,773.7	−0.101%	$2.9M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,775.2	−0.048%	$2.8M	$17.7M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,780.5	+0.144%	$165.0M	$263.0M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,773.2	−0.121%	$426.5M	$750.0M	100x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,774.9	−0.059%	$15.4M	$42.4M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,782	+0.197%	$177.9M	$785.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,780.7	+0.152%	$161.8M	$98.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,776.9	+0.014%	$21.4M	$57.4M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,774.9	−0.058%	$10.8M	$7.8M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,774.9	−0.058%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,777.4	+0.032%	$43.0M	$30.0M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,774.9	−0.059%	$973K	$14.4M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,774.1	−0.085%	$1.08B	$1.32B	200x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,774.8	−0.063%	—	$1.1M	50x	as long as short
Extended ETH-USD	+0.0104%	1h	2,773.2	−0.119%	$31.6M	$76.7M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,776.1	−0.016%	$60.3M	$4.66B	50x	as long as short
Kalshi KXETHPERP	+0.0111%	8h	2,776.2	−0.011%	$8.5M	$672.1M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0127%	8h	2,777.3	+0.029%	$32.6M	$11.7M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0143%	1h	2,777.1	+0.020%	$258.9M	$224.0M	50x	as long as short
BloFin ETH-USDT	+0.0166%	8h	2,775.9	−0.022%	$287.4M	$197.8M	150x	as long as short
Reya ETHRUSDPERP	+0.0194%	1h	2,772.5	−0.144%	$7.5M	$998K	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0240%	1h	2,775.9	−0.021%	$88.7M	$331.8M	100x	as long as short
Hibachi ETH/USDT-P	+0.0344%	1h	2,778.2	+0.063%	$274K	$1.5M	20x	as long as short