Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Vest against Katana Perps+0.123%52s7-day average +0.030% · you sell dearer than you buy

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

Long on Katana Perps Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.018%−$2 on $10k

Price spread, last 4 days (all we have)+0.846%+$85 · spread now +0.123%, 7d avg +0.030%

Together, before fees+0.828%+ Points / potential airdropVest: Active · farm board+$83 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: Vest is 0.093% dearer against Katana Perps than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.030%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps ETH-USD	2,750.6	0.0100	pay 0.0100% / 8h	6h 24m	$470K	$2.9M	50x
Short	Vest ETH-PERP	2,754	0.0100	get 0.0013% / 1h	24m 39s	—	$869K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now +0.123%Rate

Funding earned: $0.04
Price spread: +0.123% → +0.030%: $9.3
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Vest: 1 bp × 2 orders: −$2
Net: $3.55
Costs to cover: 0.058%
Break-even: from the start

Slippage unknown: Katana Perps: no order-book sample; Vest: no order-book sample. 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 Vest no order-book sample	—	—	—	—	—

Katana Perps and Vest: 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 54 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	2,752.2	+0.057%	$310K	$6.0M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,750.7	+0.004%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,750.6	+0.001%	$5.7M	$11.4M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,753.7	+0.114%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,752.8	+0.080%	$849K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,753.5	+0.107%	$10.8M	$41.9M	50x	as long as short
ApeX Omni ETHUSDT	+0.0003%	1h	2,750.4	−0.006%	$8.7M	$31.5M	100x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,754.4	+0.137%	$22.2M	—	200x	as long as short
01 Exchange ETHUSD	+0.0024%	1h	2,751.3	+0.025%	$181K	$1.1M	50x	as long as short
BingX ETH-USDC	+0.0036%	8h	2,749.3	−0.048%	—	$18.2M	—	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0046%	8h	2,750.7	+0.005%	$1.69B	$10.97B	100x	as long as short
HTX ETH-USDT	+0.0056%	8h	2,753.3	+0.100%	$1.07B	$1.21B	200x	as long as short
Aster ETHUSDT	+0.0070%	8h	2,752.8	+0.079%	$253.1M	$856.9M	200x	as long as short
KuCoin ETHUSDTM	+0.0071%	8h	2,751.9	+0.047%	$380.2M	$607.5M	100x	as long as short
MEXC ETH_USDT	+0.0078%	8h	2,750	−0.023%	$1.57B	$2.56B	500x	as long as short
Binance ETHUSDT	+0.0080%	8h	2,750.9	+0.012%	$6.36B	$16.20B	150x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,751.5	+0.031%	$4.9M	$168K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,754.8	+0.152%	$59.1M	$4.35B	50x	as long as short
Gate ETH_USDT	+0.0093%	8h	2,750.5	−0.004%	$3.39B	$8.89B	200x	as long as short
Bitget ETHUSDT	+0.0093%	8h	2,750.2	−0.013%	$2.08B	$2.84B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,752.5	+0.070%	$113.2M	$442.9M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,753.8	+0.116%	$24.9M	$107.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,753.3	+0.098%	—	$35.5M	500x	as long as short
Phemex ETHUSDT	+0.0098%	8h	2,753.5	+0.106%	$267.7M	$65.9M	150x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,755.8	+0.189%	$16.3M	$8.2M	50x	as long as short
Katana Perps ETH-USDlong	+0.0100%	8h	2,750.6	long leg	$470K	$2.9M	50x
Nado ETH-PERP	+0.0100%	1h	2,750	−0.021%	$14.0M	$112.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,754.7	+0.149%	$3.13B	$2.10B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,752.4	+0.067%	$31.6M	$333.9M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,750.6	+0.001%	$2.46B	$4.33B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,749.8	−0.029%	$2.8M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,751	+0.015%	$2.8M	$16.5M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,752.8	+0.080%	$15.1M	$41.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,753.3	+0.097%	$133.3M	$345.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,751.6	+0.037%	$181.9M	$701.5M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,751.8	+0.043%	$160.0M	$83.5M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,753.1	+0.091%	$21.3M	$67.8M	40x	as long as short
Vest ETH-PERPshort	+0.0100%	1h	2,754	+0.123%	—	$869K	50x
Polymarket Perps ETH-USD	+0.0100%	1h	2,753.8	+0.116%	$10.8M	$8.6M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,753.4	+0.100%	$182K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,753.9	+0.118%	$21K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,754.9	+0.158%	$41.9M	$29.5M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,751.8	+0.045%	$964K	$12.4M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,753.6	+0.109%	$54.8M	$187.7M	40x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,751.8	+0.044%	$165.7M	$300.7M	25x	as long as short
Aftermath Perps ETHUSD	+0.0102%	1h	2,750.6	−0.001%	$30K	$20K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,749.5	−0.040%	$30.5M	$73.6M	50x	as long as short
Kalshi KXETHPERP	+0.0142%	8h	2,753.7	+0.113%	$7.7M	$674.8M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0142%	1h	2,754.7	+0.148%	$258.5M	$199.9M	50x	as long as short
Orderly PERP_ETH_USDC	+0.0171%	8h	2,756.2	+0.204%	$32.4M	$11.1M	100x	as long as short
Hibachi ETH/USDT-P	+0.0208%	1h	2,755.3	+0.171%	$251K	$1.5M	20x	as long as short
Injective ETH/USDC PERP	+0.0209%	1h	2,750.5	−0.004%	$118K	$22.5M	52x	as long as short
Reya ETHRUSDPERP	+0.0220%	1h	2,753	+0.089%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0353%	1h	2,754.5	+0.142%	$90.0M	$316.1M	100x	as long as short