Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0165%/8h= −18.1% APRpaid last 24h −0.052%

Price spread now: Hotstuff against KuCoin+0.004%7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ETHUSDTM	2,764.1	0.0085	pay 0.0085% / 8h	7h 18m	$419.8M	$619.4M	100x
Short	Hotstuff ETH-PERP	2,764.2	−0.0080	pay 0.0010% / 1h	18m 23s	$5K	$1K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now +0.004%Rate

Funding earned: −$34.65
Price spread: +0.004% → 0.000%: $0.4
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$51.25
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 6 min ago; Hotstuff: 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 KuCoin live order book, 6 min ago	0.02 bp	6.4 bp −$6	7.9 bp −$79	10.7 bp −$1,071	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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
Injective ETH/USDC PERP	−0.0752%	1h	2,776.9	+0.463%	$119K	$22.5M	52x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,763.6	−0.018%	$5.6M	$11.2M	25x	as long as short
Perpl ETH	−0.0112%	43m	2,764.2	+0.005%	$340K	$6.3M	8.3x	as long as short
Hotstuff ETH-PERPshort	−0.0080%	1h	2,764.2	+0.004%	$5K	$1K	50x
01 Exchange ETHUSD	−0.0032%	1h	2,764.2	+0.004%	$169K	$1.1M	50x	as long as short
Phoenix ETH	−0.0003%	1h	2,772	+0.286%	$873K	$3.7M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,764.7	+0.023%	$12.2M	$43.2M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,766.7	+0.094%	$22.3M	—	200x	as long as short
Bullet ETH-USD	+0.0018%	1h	2,765.5	+0.051%	$184K	$1.7M	20x	as long as short
OKX ETH-USDT-SWAP	+0.0028%	8h	2,767	+0.104%	$1.70B	$11.14B	100x	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	+0.0028%	1h	2,766.6	+0.091%	$55.1M	$188.0M	40x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0043% / S −0.0009%	1h	2,766.3	+0.081%	$12.7M	—	200x	as long as short
Aster ETHUSDT	+0.0044%	8h	2,764.5	+0.016%	$256.0M	$885.9M	200x	as long as short
Gate ETH_USDT	+0.0055%	8h	2,766.9	+0.101%	$3.38B	$9.06B	200x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,765.9	+0.066%	$5.0M	$165K	20x	as long as short
Binance ETHUSDT	+0.0057%	8h	2,766	+0.068%	$6.47B	$16.26B	150x	as long as short
MEXC ETH_USDT	+0.0059%	8h	2,765	+0.033%	$1.61B	$2.65B	500x	as long as short
Aftermath Perps ETHUSD	+0.0069%	1h	2,770	+0.213%	$31K	$21K	20x	as long as short
Bitget ETHUSDT	+0.0076%	8h	2,766.9	+0.101%	$2.10B	$2.87B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,769	+0.177%	$60.3M	$4.42B	50x	as long as short
Vest ETH-PERP	+0.0081%	1h	2,764.7	+0.023%	—	$876K	50x	as long as short
KuCoin ETHUSDTMlong	+0.0085%	8h	2,764.1	long leg	$419.8M	$619.4M	100x
HTX ETH-USDT	+0.0088%	8h	2,762.4	−0.063%	$1.07B	$1.25B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,764.3	+0.008%	$114.7M	$458.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,765.7	+0.056%	$25.5M	$111.8M	50x	as long as short
ApeX Omni ETHUSDT	+0.0098%	1h	2,768.2	+0.148%	$8.7M	$32.1M	100x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,766.1	+0.074%	$15.9M	$8.6M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,764.2	+0.004%	$487K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,763	−0.038%	$14.6M	$113.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,767.3	+0.116%	$3.16B	$2.19B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,764.2	+0.005%	$31.1M	$328.0M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,767.3	+0.116%	$2.51B	$4.33B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,763.5	−0.021%	$2.8M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,764.3	+0.007%	$2.8M	$16.9M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,763.5	−0.020%	$172.0M	$292.0M	25x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,765.3	+0.043%	—	$17.3M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,763.7	−0.016%	$15.1M	$42.1M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,768.5	+0.161%	$137.0M	$344.9M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,768.1	+0.145%	$181.7M	$785.3M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,768.8	+0.169%	$161.1M	$85.1M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,767.9	+0.138%	$21.4M	$64.0M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,764.4	+0.011%	$10.5M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,767.7	+0.131%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,768.7	+0.167%	$42.5M	$28.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,765.3	+0.043%	$969K	$13.0M	100x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,763.8	−0.010%	$269.0M	$67.4M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,766.2	+0.075%	$30.9M	$74.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,765.8	+0.060%	—	$36.1M	500x	as long as short
Kalshi KXETHPERP	+0.0109%	8h	2,767.4	+0.120%	$8.1M	$678.7M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,769.2	+0.183%	$97.8M	$320.5M	100x	as long as short
Hibachi ETH/USDT-P	+0.0152%	1h	2,769.3	+0.187%	$252K	$1.5M	20x	as long as short
Orderly PERP_ETH_USDC	+0.0155%	8h	2,769.8	+0.205%	$32.6M	$11.1M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0158%	1h	2,768.8	+0.169%	$259.1M	$203.4M	50x	as long as short
BloFin ETH-USDT	+0.0180%	8h	2,763.6	−0.020%	$287.3M	$178.3M	150x	as long as short
Reya ETHRUSDPERP	+0.0213%	1h	2,764.4	+0.011%	$7.3M	$1.1M	25x	as long as short