Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Arcus against Katana Perps+0.059%7-day average +0.064% · you sell dearer than you buy

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

Long on Katana Perps Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 7 days+0.006%+$1 · spread now +0.059%, 7d avg +0.064%

Together, before fees+0.005%+$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps ETH-USD	2,768.7	0.0100	pay 0.0100% / 8h	2h 44m	$481K	$2.7M	50x
Short	Arcus ETH-USD	2,770.3	0.0100	get 0.0013% / 1h	44m 11s	$2.8M	$17.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Katana 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 Katana PerpsbpFee ArcusbpOrdersPrice spread, now +0.059%Rate

Funding earned: $0.04
Price spread: +0.059% → +0.064%: −$0.45
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$8.71
Costs to cover: 0.083%
Break-even: 1389.0 days

Slippage unknown: Katana Perps: no order-book sample; Arcus: live order book, 5 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 Katana Perps no order-book sample	—	—	—	—	—
Sell Arcus live order book, 5 min ago	0.18 bp	2.8 bp −$3	4.5 bp −$45	7.6 bp −$759	doesn't fit

Katana 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	2,768	−0.025%	$289K	$6.9M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0107%	1h	2,770.7	+0.072%	$119K	$22.5M	52x	as long as short
ApeX Omni ETHUSDT	−0.0095%	1h	2,771.1	+0.087%	$10.5M	$31.0M	100x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,768.4	−0.011%	$5K	$2K	50x	as long as short
01 Exchange ETHUSD	−0.0064%	1h	2,768.4	−0.011%	$172K	$1.2M	50x	as long as short
Phoenix ETH	−0.0023%	1h	2,771.3	+0.094%	$795K	$3.7M	25x	as long as short
RISEx ETH/USDC	−0.0011%	1h	2,768.4	−0.010%	$5.8M	$12.0M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,769.1	+0.015%	$12.9M	$45.3M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,768.5	−0.008%	$22.4M	—	200x	as long as short
Phemex ETHUSDT	+0.0022%	8h	2,768.1	−0.022%	$266.3M	$66.0M	150x	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	+0.0023%	8h	2,768.3	−0.013%	$1.70B	$11.83B	100x	as long as short
Aftermath Perps ETHUSD	+0.0024%	1h	2,771.8	+0.111%	$29K	$21K	20x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,768.5	−0.007%	$13.1M	—	200x	as long as short
Aster ETHUSDT	+0.0042%	8h	2,768	−0.027%	$255.7M	$995.5M	200x	as long as short
MEXC ETH_USDT	+0.0044%	8h	2,768.3	−0.014%	$1.59B	$2.63B	500x	as long as short
Binance ETHUSDT	+0.0044%	8h	2,768.2	−0.020%	$6.43B	$17.18B	150x	as long as short
Aevo ETH-PERP	+0.0048%	1h	2,765.8	−0.103%	$5.0M	$636K	20x	as long as short
Gate ETH_USDT	+0.0060%	8h	2,768	−0.027%	$3.29B	$9.57B	200x	as long as short
Bitget ETHUSDT	+0.0074%	8h	2,767.4	−0.047%	$2.09B	$3.13B	150x	as long as short
Bullet ETH-USD	+0.0080%	1h	2,767.8	−0.032%	$185K	$1.8M	20x	as long as short
Variational Omni ETH	+0.0092%	8h	2,771.1	+0.086%	$141.1M	$318.8M	—	as long as short
Lighter ETH	+0.0096%	1h	2,768.3	−0.015%	$115.1M	$509.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,769.6	+0.031%	$25.3M	$121.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,768.9	+0.008%	—	$41.8M	500x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,767.7	−0.034%	$15.9M	$10.9M	50x	as long as short
Katana Perps ETH-USDlong	+0.0100%	8h	2,768.7	long leg	$481K	$2.7M	50x
Nado ETH-PERP	+0.0100%	1h	2,768	−0.025%	$16.0M	$114.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,770.9	+0.079%	$3.19B	$2.38B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,768.6	−0.004%	$31.3M	$283.2M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,767.9	−0.029%	$2.50B	$4.64B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,767.8	−0.033%	$2.9M	$16.5M	25x	as long as short
Arcus ETH-USDshort	+0.0100%	1h	2,770.3	+0.059%	$2.8M	$17.5M	25x
Bulk ETH-USD	+0.0100%	1h	2,770.8	+0.077%	$164.5M	$255.4M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,768.5	−0.008%	$424.8M	$742.3M	100x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,767.7	−0.037%	—	$1.19B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,768.5	−0.009%	$15.3M	$42.4M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,771.4	+0.098%	$178.2M	$790.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,771.7	+0.108%	$161.2M	$97.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,770.4	+0.061%	$21.4M	$57.6M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,769.2	+0.018%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,769.8	+0.040%	$10.8M	$7.8M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,768.3	−0.013%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,769.8	+0.040%	$42.8M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,767.6	−0.039%	$971K	$14.3M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,767.3	−0.051%	$55.1M	$228.6M	40x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,767	−0.061%	$1.08B	$1.32B	200x	as long as short
Extended ETH-USD	+0.0104%	1h	2,766.9	−0.067%	$31.4M	$76.1M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,768.9	+0.008%	$60.0M	$4.63B	50x	as long as short
Kalshi KXETHPERP	+0.0120%	8h	2,768.9	+0.007%	$8.7M	$671.3M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0129%	8h	2,770.3	+0.056%	$32.5M	$11.8M	100x	as long as short
BloFin ETH-USDT	+0.0165%	8h	2,767.9	−0.029%	$286.6M	$195.3M	150x	as long as short
Deribit ETH-PERPETUAL	+0.0173%	1h	2,769.4	+0.025%	$259.0M	$223.4M	50x	as long as short
Reya ETHRUSDPERP	+0.0189%	1h	2,767.5	−0.044%	$7.5M	$992K	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0241%	1h	2,768.6	−0.003%	$88.4M	$329.8M	100x	as long as short
Hibachi ETH/USDT-P	+0.0392%	1h	2,770.3	+0.057%	$273K	$1.5M	20x	as long as short