Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0070%/8h= −7.6% APRpaid last 24h +0.001%

Price spread now: edgeX against Kraken Futures+0.060%7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$210.213% of the position

Long on Kraken Futures Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.036%−$4 · spread now +0.060%, 7d avg −0.033%

Together, before fees−0.037%+ Points / potential airdropedgeX: Active · farm board−$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.094% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.060% now, against its 7-day average of −0.033%): +$9 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.5 days. At the pace of the last 7 days (0.000% in total) that is about years.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ETHUSD	2,776.6	0.0170	pay 0.0021% / 1h	37m 00s	$86.2M	$330.4M	100x
Short	edgeX ETHUSDC	2,778.3	0.0100	get 0.0050% / 4h	1h 37m	$180.1M	$779.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Kraken Futures. 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 Kraken FuturesbpFee edgeXbpOrdersPrice spread, now +0.060%Rate

Funding earned: −$14.6
Price spread: +0.060% → −0.033%: $9.36
Slippage, 4 orders: −$2.3
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$26.55
Costs to cover: 0.213%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; edgeX: live order book, 2 min ago.

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 Kraken Futures live order book, 2 min ago	0.18 bp	5.7 bp −$6	6.3 bp −$63	7.7 bp −$770	11.2 bp −$5,589
Sell edgeX live order book, 2 min ago	0.04 bp	4.9 bp −$5	5.0 bp −$50	5.1 bp −$506	6.5 bp −$3,273

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	2,776.3	−0.011%	$289K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,776.1	−0.020%	$5.8M	$12.0M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,777.2	+0.020%	$5K	$2K	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,777.1	+0.017%	$119K	$22.5M	52x	as long as short
01 Exchange ETHUSD	−0.0032%	1h	2,776.1	−0.019%	$169K	$1.2M	50x	as long as short
Aftermath Perps ETHUSD	−0.0021%	1h	2,778.1	+0.054%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,778.2	+0.055%	$12.7M	$45.5M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,779.8	+0.114%	$885K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,776.2	−0.017%	$22.4M	—	200x	as long as short
BingX ETH-USDC	+0.0015%	8h	2,775.9	−0.026%	—	$17.4M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex ETHUSDT	+0.0016%	8h	2,775.6	−0.036%	$270.0M	$68.5M	150x	as long as short
OKX ETH-USDT-SWAP	+0.0020%	8h	2,775.2	−0.053%	$1.71B	$11.82B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,776.6	−0.003%	$13.2M	—	200x	as long as short
Aster ETHUSDT	+0.0037%	8h	2,775.9	−0.025%	$256.5M	$989.7M	200x	as long as short
Bullet ETH-USD	+0.0040%	1h	2,775.8	−0.030%	$181K	$1.7M	20x	as long as short
Nado ETH-PERP	+0.0057%	1h	2,776	−0.023%	$14.3M	$117.8M	50x	as long as short
MEXC ETH_USDT	+0.0062%	8h	2,775.2	−0.051%	$1.62B	$2.65B	500x	as long as short
Binance ETHUSDT	+0.0062%	8h	2,775.3	−0.047%	$6.44B	$17.11B	150x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,775.1	−0.057%	$5.0M	$636K	20x	as long as short
Bitget ETHUSDT	+0.0072%	8h	2,775.3	−0.050%	$2.10B	$3.10B	150x	as long as short
Gate ETH_USDT	+0.0073%	8h	2,776.2	−0.016%	$3.29B	$9.58B	200x	as long as short
Deribit ETH-PERPETUAL	+0.0078%	1h	2,777.2	+0.020%	$258.3M	$221.9M	50x	as long as short
Bybit ETHUSDT	+0.0095%	8h	2,775.2	−0.052%	$2.52B	$4.59B	150x	as long as short
HTX ETH-USDT	+0.0095%	8h	2,775.4	−0.043%	$1.08B	$1.32B	200x	as long as short
SoDEX ETH-USD	+0.0096%	1h	2,775.4	−0.044%	$55.3M	$228.8M	40x	as long as short
Lighter ETH	+0.0096%	1h	2,776.2	−0.015%	$115.0M	$498.3M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,777.5	+0.029%	$25.4M	$121.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,777.5	+0.031%	—	$41.5M	500x	as long as short
KuCoin ETHUSDTM	+0.0099%	8h	2,775.3	−0.048%	$426.1M	$737.6M	100x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,775.7	−0.032%	$15.9M	$10.5M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,777	+0.013%	$481K	$2.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,778.3	+0.060%	$3.19B	$2.36B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,777	+0.013%	$31.4M	$297.6M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,775.9	−0.026%	$2.8M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,778.2	+0.058%	$2.8M	$17.3M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,781.3	+0.169%	$166.9M	$248.1M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,776.6	−0.001%	$15.2M	$44.5M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,781.7	+0.183%	$135.5M	$322.3M	—	as long as short
edgeX ETHUSDCshort	+0.0100%	4h	2,778.3	+0.060%	$180.1M	$779.4M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,777.7	+0.039%	$161.5M	$90.8M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,777.9	+0.044%	$8.7M	$32.5M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,780.2	+0.128%	$21.5M	$57.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,776.8	+0.005%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,776.8	+0.006%	$10.8M	$7.6M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,776.3	−0.011%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,777.9	+0.045%	$42.7M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,775.6	−0.039%	$973K	$14.0M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,774.7	−0.070%	$31.6M	$74.6M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,776.8	+0.005%	$60.3M	$4.59B	50x	as long as short
Kalshi KXETHPERP	+0.0115%	8h	2,777.6	+0.035%	$8.7M	$673.6M	4.9x	as long as short
Hibachi ETH/USDT-P	+0.0136%	1h	2,781.1	+0.160%	$279K	$1.5M	20x	as long as short
Orderly PERP_ETH_USDC	+0.0139%	8h	2,778.3	+0.059%	$32.6M	$12.0M	100x	as long as short
Kraken Futures PF_ETHUSDlong	+0.0170%	1h	2,776.6	long leg	$86.2M	$330.4M	100x
BloFin ETH-USDT	+0.0182%	8h	2,775.5	−0.041%	$284.7M	$194.4M	150x	as long as short
Reya ETHRUSDPERP	+0.0189%	1h	2,775.2	−0.052%	$7.4M	$1.1M	25x	as long as short