Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0023%/8h= −2.5% APRpaid last 24h −0.012%

Price spread now: 01 Exchange against KuCoin+0.030%7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$280.276% of the position

Long on KuCoin Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.011%−$1 on $10k

Price spread, last 7 days−0.038%−$4 · spread now +0.030%, 7d avg −0.006%

Together, before fees−0.049%−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. 01 Exchange is 0.037% dearer against KuCoin than usual: you sell high and buy low (spread +0.030% now, against its 7-day average of −0.006%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.3 days. At the pace of the last 4 days (−0.011% in total) that is about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ETHUSDTM	2,738.9	0.0063	pay 0.0063% / 8h	5h 39m	$383.0M	$597.9M	100x
Short	01 Exchange ETHUSD	2,739.7	0.0040	get 0.0005% / 1h	39m 06s	$182K	$916K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.030%Rate

Funding earned: −$4.83
Price spread: +0.030% → −0.006%: $3.65
Slippage, 4 orders: −$8.56
Fee KuCoin: 6 bp × 2 orders: −$12
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$28.73
Costs to cover: 0.276%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; 01 Exchange: live order book, 25 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, 5 min ago	0.02 bp	6.8 bp −$7	7.7 bp −$77	10.4 bp −$1,043	doesn't fit
Sell 01 Exchange live order book, 25 min ago	0.18 bp	9.0 bp −$9	13.1 bp −$131	doesn't fit	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	−0.0112%	43m	2,740.3	+0.052%	$304K	$5.6M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,741.3	+0.089%	$5K	$1K	50x	as long as short
Injective ETH/USDC PERP	−0.0044%	1h	2,743.1	+0.154%	$118K	$22.5M	52x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,738.7	−0.007%	$12.0M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,740.8	+0.070%	$10.8M	$41.8M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,738.8	−0.001%	$22.1M	—	200x	as long as short
Phoenix ETH	+0.0017%	1h	2,744.7	+0.213%	$846K	$2.9M	25x	as long as short
01 Exchange ETHUSDshort	+0.0040%	1h	2,739.7	+0.030%	$182K	$916K	50x
BingX ETH-USDT	+0.0049%	8h	2,739.4	+0.018%	—	$1.15B	—	as long as short
OKX ETH-USDT-SWAP	+0.0063%	8h	2,739.2	+0.010%	$1.70B	$10.56B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ETHUSDTMlong	+0.0063%	8h	2,738.9	long leg	$383.0M	$597.9M	100x
RISEx ETH/USDC	+0.0077%	1h	2,739.7	+0.029%	$5.6M	$11.2M	25x	as long as short
Bullet ETH-USD	+0.0077%	1h	2,738.4	−0.017%	$181K	$1.7M	20x	as long as short
Aster ETHUSDT	+0.0080%	8h	2,738.5	−0.012%	$251.9M	$841.2M	200x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,735.6	−0.119%	$4.9M	$155K	20x	as long as short
MEXC ETH_USDT	+0.0089%	8h	2,738.4	−0.017%	$1.56B	$2.53B	500x	as long as short
Binance ETHUSDT	+0.0090%	8h	2,738.2	−0.025%	$6.36B	$15.71B	150x	as long as short
HTX ETH-USDT	+0.0095%	8h	2,738.1	−0.030%	$1.06B	$1.18B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,738.7	−0.008%	$112.6M	$432.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,740.2	+0.048%	$24.6M	$103.7M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,741.2	+0.084%	—	$30.8M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0096%	1h	2,739.3	+0.015%	$58.7M	$4.26B	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,743.1	+0.155%	$16.0M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,739.2	+0.012%	$468K	$3.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,739.2	+0.012%	$13.9M	$106.2M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,741	+0.078%	$3.11B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,740.3	+0.053%	$31.6M	$335.1M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,738.4	−0.016%	$2.45B	$4.18B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,738.3	−0.021%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,739.5	+0.024%	$2.7M	$16.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,743.5	+0.170%	$165.1M	$304.9M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,739.6	+0.025%	$3.39B	$8.71B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,739.3	+0.015%	$2.08B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,738.5	−0.015%	$14.9M	$40.9M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,736.2	−0.097%	$132.4M	$335.9M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,739.2	+0.013%	$182.0M	$689.8M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,743.5	+0.170%	$159.5M	$82.5M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,742.5	+0.131%	$8.9M	$31.0M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,740.8	+0.070%	$21.2M	$68.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,740.6	+0.064%	—	$819K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,740.2	+0.049%	$11.0M	$8.8M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,739.1	+0.008%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,740.2	+0.048%	$41.5M	$29.5M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,738.3	−0.020%	$960K	$11.5M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,738.2	−0.024%	$54.5M	$187.5M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,738.2	−0.023%	$266.3M	$65.1M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,737.6	−0.047%	$30.6M	$72.4M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0126%	1h	2,739.7	+0.029%	$258.7M	$196.1M	50x	as long as short
Aftermath Perps ETHUSD	+0.0136%	1h	2,742.2	+0.121%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0156%	8h	2,740.5	+0.060%	$7.7M	$668.6M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0189%	8h	2,740.6	+0.063%	$32.2M	$11.4M	100x	as long as short
BloFin ETH-USDT	+0.0210%	8h	2,738.4	−0.018%	$284.3M	$177.3M	150x	as long as short
Kraken Futures PF_ETHUSD	+0.0222%	1h	2,739	+0.006%	$87.0M	$310.4M	100x	as long as short
Reya ETHRUSDPERP	+0.0226%	1h	2,739	+0.004%	$7.3M	$1.1M	25x	as long as short
Hibachi ETH/USDT-P	+0.0240%	1h	2,742	+0.113%	$250K	$1.4M	20x	as long as short