Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0021%/8h= +2.3% APRpaid last 24h +0.007%

Price spread now: edgeX against MEXC−0.169%83s7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$2as 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−$140.135% of the position

Long on MEXC Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.118%+$12 on $10k

Price spread, last 7 days+0.148%+$15 · spread now −0.169%, 7d avg −0.028%

Together, before fees+0.266%+ Points / potential airdropedgeX: Active · farm board+$27 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.142% cheaper against MEXC than usual: you would sell low and buy high (spread −0.169% now, against its 7-day average of −0.028%). If the spread goes back, that is −$14 on $10k: about 23 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.118% in total) that is about 8.4 days. The two prices were read 83 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	MEXC ETH_USDT	2,746.8	0.0079	pay 0.0079% / 8h	6h 06m	$1.57B	$2.58B	500x
Short	edgeX ETHUSDC	2,742.2	0.0100	get 0.0050% / 4h	2h 06m	$181.3M	$699.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against MEXC. 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 MEXCbpFee edgeXbpOrdersPrice spread, now −0.169%Rate

Funding earned: $4.41
Price spread: −0.169% → −0.028%: −$14.18
Slippage, 4 orders: −$2.54
Fee MEXC: 1 bp × 2 orders: −$2
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$23.31
Costs to cover: 0.135%
Break-even: 44.0 days

Slippage from MEXC: live order book, 3 min ago; edgeX: 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 MEXC live order book, 3 min ago	0.02 bp	1.0 bp −$1	1.1 bp −$11	1.6 bp −$160	4.4 bp −$2,176
Sell edgeX live order book, 3 min ago	0.15 bp	4.6 bp −$5	4.6 bp −$46	4.8 bp −$483	6.3 bp −$3,149

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	−0.0112%	43m	2,746.7	−0.006%	$310K	$5.8M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,747.6	+0.028%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,747.2	+0.012%	$5.7M	$11.2M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,746.9	+0.001%	$12.1M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,744.8	−0.074%	$847K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,746.3	−0.018%	$10.8M	$42.0M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,747.1	+0.008%	$22.2M	—	200x	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,748	+0.043%	$181K	$1.0M	50x	as long as short
BingX ETH-USDT	+0.0041%	8h	2,746.7	−0.004%	—	$1.17B	—	as long as short
OKX ETH-USDT-SWAP	+0.0052%	8h	2,746.1	−0.025%	$1.70B	$10.81B	100x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni ETHUSDT	+0.0066%	1h	2,741.8	−0.185%	$8.7M	$31.4M	100x	as long as short
KuCoin ETHUSDTM	+0.0066%	8h	2,747.2	+0.014%	$370.4M	$605.8M	100x	as long as short
Aster ETHUSDT	+0.0069%	8h	2,746.7	−0.005%	$253.6M	$851.2M	200x	as long as short
HTX ETH-USDT	+0.0073%	8h	2,746.7	−0.005%	$1.06B	$1.19B	200x	as long as short
MEXC ETH_USDTlong	+0.0079%	8h	2,746.8	long leg	$1.57B	$2.58B	500x
Aevo ETH-PERP	+0.0080%	1h	2,745.3	−0.057%	$4.9M	$167K	20x	as long as short
Binance ETHUSDT	+0.0080%	8h	2,746.8	−0.002%	$6.38B	$16.03B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,747.8	+0.037%	$58.7M	$4.31B	50x	as long as short
Lighter ETH	+0.0096%	1h	2,747.1	+0.011%	$113.1M	$445.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,748.5	+0.061%	$24.8M	$108.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,747.2	+0.014%	—	$31.7M	500x	as long as short
Gate ETH_USDT	+0.0097%	8h	2,747.6	+0.029%	$3.40B	$8.95B	200x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,749.9	+0.113%	$16.2M	$8.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,745.9	−0.034%	$477K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,747	+0.005%	$14.0M	$109.2M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,748.8	+0.073%	$3.13B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,747.6	+0.028%	$31.7M	$334.3M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,746.8	0.000%	$2.46B	$4.25B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,746.3	−0.019%	$2.7M	$16.9M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,747.5	+0.025%	$2.8M	$16.4M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,747	+0.008%	$2.08B	$2.78B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,746.5	−0.012%	$15.0M	$41.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,744.9	−0.069%	$132.7M	$345.6M	—	as long as short
edgeX ETHUSDCshort	+0.0100%	4h	2,742.2	−0.169%	$181.3M	$699.8M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,743.3	−0.129%	$159.5M	$82.2M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,745.8	−0.037%	$21.2M	$69.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,747.4	+0.020%	—	$849K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,747.2	+0.013%	$10.7M	$8.6M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,747	+0.006%	$182K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,747.6	+0.027%	$21K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,749	+0.079%	$41.7M	$29.6M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,746.7	−0.005%	$963K	$12.2M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,746.7	−0.005%	$54.7M	$187.7M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,747	+0.007%	$267.5M	$65.9M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,747.7	+0.030%	$164.0M	$301.0M	25x	as long as short
Aftermath Perps ETHUSD	+0.0100%	1h	2,746.8	−0.001%	$30K	$20K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,746.2	−0.023%	$30.5M	$73.0M	50x	as long as short
Kalshi KXETHPERP	+0.0147%	8h	2,747.6	+0.028%	$7.8M	$672.4M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0179%	8h	2,749.6	+0.099%	$32.3M	$11.1M	100x	as long as short
Injective ETH/USDC PERP	+0.0209%	1h	2,744.7	−0.078%	$118K	$22.5M	52x	as long as short
Deribit ETH-PERPETUAL	+0.0220%	1h	2,748.3	+0.052%	$258.8M	$198.3M	50x	as long as short
Reya ETHRUSDPERP	+0.0222%	1h	2,746.4	−0.017%	$7.3M	$1.1M	25x	as long as short
Hibachi ETH/USDT-P	+0.0224%	1h	2,746.6	−0.007%	$250K	$1.5M	20x	as long as short
Kraken Futures PF_ETHUSD	+0.0354%	1h	2,747.3	+0.018%	$88.2M	$315.1M	100x	as long as short