Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0015%/8h= +1.6% APRpaid last 24h −0.005%

Price spread now: Aevo against KuCoin−0.089%57s7-day average −0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$430.434% of the position

Long on KuCoin Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 4 days (all we have)+0.040%+$4 · spread now −0.089%, 7d avg −0.063%

Together, before fees+0.057%+$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aevo is 0.026% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.089% now, against its 7-day average of −0.063%). If the spread goes back, that is −$3 on $10k: about 5.7 days of funding at the current rate ($0 a day). The two prices were read 57 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	KuCoin ETHUSDTM	2,723.4	0.0081	pay 0.0081% / 8h	1m 30s	$383.0M	$575.5M	100x
Short	Aevo ETH-PERP	2,721	0.0096	get 0.0012% / 1h	1m 30s	$4.9M	$189K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against KuCoin. 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 KuCoinbpFee AevobpOrdersPrice spread, now −0.089%Rate

Funding earned: $3.15
Price spread: −0.089% → −0.063%: −$2.56
Slippage, 4 orders: −$15.4
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$42.81
Costs to cover: 0.434%
Break-even: 102.1 days

Slippage from KuCoin: live order book, 8 min ago; Aevo: live order book, 3 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 KuCoin live order book, 8 min ago	0.02 bp	6.0 bp −$6	8.2 bp −$82	10.4 bp −$1,043	doesn't fit
Sell Aevo live order book, 3 min ago	3.80 bp	19.4 bp −$19	27.8 bp −$278	43.8 bp −$4,382	doesn't fit

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	2,723.6	+0.007%	$274K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,723.3	−0.004%	$5K	$1K	50x	as long as short
BloFin ETH-USDT	−0.0035%	8h	2,722.6	−0.029%	$280.9M	$177.5M	150x	as long as short
Phoenix ETH	−0.0015%	1h	2,723.8	+0.015%	$808K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,723.6	+0.007%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,723.5	+0.002%	$10.5M	$41.8M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,724.2	+0.029%	$6.6M	$673.3M	4.9x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,724	+0.023%	$264.5M	$215.7M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,723.9	+0.019%	$32.9M	—	200x	as long as short
BingX ETH-USDT	+0.0018%	8h	2,723.1	−0.011%	—	$1.07B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0023%	8h	2,723.4	0.000%	$2.31B	$4.31B	150x	as long as short
HTX ETH-USDT	+0.0036%	8h	2,722.8	−0.021%	$1.05B	$1.21B	200x	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,723.9	+0.018%	$189K	$883K	50x	as long as short
Injective ETH/USDC PERP	+0.0050%	1h	2,727.9	+0.165%	$235K	$22.4M	52x	as long as short
Kraken Futures PF_ETHUSD	+0.0060%	1h	2,724	+0.023%	$82.0M	$310.2M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0077%	8h	2,723.4	0.000%	$1.65B	$10.73B	100x	as long as short
ApeX Omni ETHUSDT	+0.0078%	1h	2,722.1	−0.049%	$8.4M	$31.3M	100x	as long as short
Hibachi ETH/USDT-P	+0.0080%	1h	2,724.3	+0.034%	$239K	$1.4M	20x	as long as short
KuCoin ETHUSDTMlong	+0.0081%	8h	2,723.4	long leg	$383.0M	$575.5M	100x
Aster ETHUSDT	+0.0083%	8h	2,723.4	−0.001%	$251.8M	$850.7M	200x	as long as short
MEXC ETH_USDT	+0.0093%	8h	2,723.3	−0.005%	$1.58B	$2.60B	500x	as long as short
Binance ETHUSDT	+0.0093%	8h	2,723.3	−0.002%	$6.30B	$16.07B	150x	as long as short
Aftermath Perps ETHUSD	+0.0094%	1h	2,723.9	+0.019%	$30K	$20K	20x	as long as short
Lighter ETH	+0.0096%	1h	2,723.4	−0.001%	$112.1M	$433.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,724.6	+0.044%	$23.3M	$102.8M	50x	as long as short
Aevo ETH-PERPshort	+0.0096%	1h	2,721	−0.089%	$4.9M	$189K	20x
Katana Perps ETH-USD	+0.0100%	8h	2,723.2	−0.007%	$499K	$3.6M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,727.4	+0.146%	$15.4M	$7.4M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,722.9	−0.019%	$14.1M	$104.5M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,725.7	+0.086%	$3.10B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,723.6	+0.009%	$31.9M	$334.0M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,722.8	−0.022%	$2.7M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,723.4	−0.001%	$1.6M	$16.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,722.9	−0.018%	$3.31B	$8.96B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,723.4	+0.001%	$2.11B	$2.76B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,723.3	−0.004%	$15.0M	$40.5M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,722.5	−0.032%	$133.2M	$316.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,722.3	−0.039%	$185.2M	$683.2M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,722.9	−0.018%	$158.2M	$81.3M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,724.1	+0.026%	$20.9M	$70.0M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,724.9	+0.055%	—	$445K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,725	+0.059%	$11.2M	$9.4M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,723.3	−0.002%	$180K	$1.7M	20x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,724.2	+0.029%	$40.6M	$30.0M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,723.2	−0.007%	$955K	$10.7M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,723.2	−0.007%	$54.2M	$182.6M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,723.5	+0.005%	$262.4M	$64.0M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,722.9	−0.019%	$160.5M	$349.9M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,722.5	−0.034%	$30.4M	$71.2M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0056%	1h	2,723.4	−0.001%	—	$30.1M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,724.8	+0.050%	$46.7M	$4.25B	50x	as long as short
RISEx ETH/USDC	+0.0114%	1h	2,724	+0.022%	$5.6M	$11.6M	25x	as long as short
Bluefin ETH-PERP	+0.0149%	1h	2,723.9	+0.018%	$20K	$23K	25x	as long as short
Reya ETHRUSDPERP	+0.0177%	1h	2,722.7	−0.024%	$7.3M	$972K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0185%	8h	2,725.9	+0.090%	$32.1M	$11.3M	100x	as long as short