Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0092%/8h= −10.1% APRpaid last 24h −0.040%

Price spread now: Jupiter Perps against MEXC−0.088%7-day average +0.018% · you buy dearer than you sell

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

Long on MEXC Short on Jupiter Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.116%−$12 on $10k

Price spread, last 3 days (all we have)+0.272%+$27 · spread now −0.088%, 7d avg +0.018%

Together, before fees+0.156%+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Jupiter Perps is 0.106% cheaper against MEXC than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.018%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ETH_USDT	2,776.9	0.0044	pay 0.0044% / 8h	2h 55m	$1.61B	$2.61B	500x
Short	Jupiter Perps ETH-PERP	2,774.5	L +0.0096% / S +0.0048%	pay 0.0006% / 1h	55m 28s	—	$42.8M	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Jupiter Perps against MEXC. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Jupiter PerpsbpOrdersPrice spread, now −0.088%Rate

Funding earned: −$19.32
Price spread: −0.088% → +0.018%: −$10.61
Slippage, 4 orders: no order book: not counted
Fee MEXC: 1 bp × 2 orders: −$2
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Net: −$43.93
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 4 min ago; Jupiter Perps: 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 MEXC live order book, 4 min ago	0.02 bp	1.0 bp −$1	1.0 bp −$10	1.0 bp −$102	1.3 bp −$664
Sell Jupiter Perps no order-book sample	—	—	—	—	—

Jupiter Perps: 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
Perpl ETH	−0.0447%	43m	2,775.7	−0.043%	$290K	$6.9M	8.3x	as long as short
ApeX Omni ETHUSDT	−0.0318%	1h	2,773.3	−0.132%	$10.5M	$30.9M	100x	as long as short
Injective ETH/USDC PERP	−0.0107%	1h	2,773.8	−0.112%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,776.1	−0.030%	$5K	$2K	50x	as long as short
01 Exchange ETHUSD	−0.0048%	1h	2,776.2	−0.026%	$172K	$1.2M	50x	as long as short
Phoenix ETH	−0.0032%	1h	2,776.7	−0.008%	$799K	$3.7M	25x	as long as short
RISEx ETH/USDC	−0.0011%	1h	2,775.6	−0.046%	$5.9M	$12.0M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,774.4	−0.091%	$13.0M	$45.3M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,778	+0.037%	$22.4M	—	200x	as long as short
Phemex ETHUSDT	+0.0015%	8h	2,774.3	−0.094%	$267.0M	$66.0M	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDT	+0.0017%	8h	2,777	+0.004%	—	$1.20B	—	as long as short
SoDEX ETH-USD	+0.0021%	1h	2,774.6	−0.084%	$55.2M	$228.5M	40x	as long as short
OKX ETH-USDT-SWAP	+0.0022%	8h	2,777.1	+0.008%	$1.71B	$11.93B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0027% / S +0.0009%	1h	2,777.9	+0.034%	$13.1M	—	200x	as long as short
Aftermath Perps ETHUSD	+0.0029%	1h	2,779.4	+0.090%	$29K	$22K	20x	as long as short
Aevo ETH-PERP	+0.0040%	1h	2,775.4	−0.055%	$5.0M	$636K	20x	as long as short
Binance ETHUSDT	+0.0044%	8h	2,777.1	+0.008%	$6.47B	$17.27B	150x	as long as short
MEXC ETH_USDTlong	+0.0044%	8h	2,776.9	long leg	$1.61B	$2.61B	500x
Aster ETHUSDT	+0.0046%	8h	2,776.2	−0.026%	$256.6M	$997.9M	200x	as long as short
Gate ETH_USDT	+0.0055%	8h	2,777.2	+0.009%	$3.29B	$9.51B	200x	as long as short
Bitget ETHUSDT	+0.0074%	8h	2,776.9	−0.001%	$2.10B	$3.14B	150x	as long as short
Bullet ETH-USD	+0.0084%	1h	2,776.9	−0.001%	$188K	$1.8M	20x	as long as short
Variational Omni ETH	+0.0092%	8h	2,775.7	−0.042%	$140.7M	$320.1M	—	as long as short
Lighter ETH	+0.0096%	1h	2,775.2	−0.062%	$115.3M	$506.5M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,776.1	−0.030%	$25.5M	$121.3M	50x	as long as short
Jupiter Perps ETH-PERPshort	L +0.0096% / S +0.0048%	1h	2,774.5	−0.088%	—	$42.8M	500x
Paradex ETH-USD-PERP	+0.0100%	8h	2,776	−0.033%	$15.9M	$11.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,776.7	−0.008%	$493K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,775.7	−0.043%	$16.2M	$115.2M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,779.7	+0.100%	$3.21B	$2.41B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,775.3	−0.058%	$31.2M	$281.2M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,777.2	+0.009%	$2.52B	$4.65B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,773.7	−0.116%	$2.9M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,777.2	+0.010%	$2.8M	$17.7M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,780.5	+0.129%	$165.0M	$263.0M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,776.4	−0.019%	$427.0M	$748.8M	100x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,774.9	−0.074%	$15.4M	$42.4M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,775.2	−0.062%	$177.5M	$786.2M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,775.6	−0.047%	$161.5M	$98.8M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,776.9	−0.001%	$21.4M	$57.4M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,776.8	−0.006%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,778.4	+0.053%	$10.8M	$7.9M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,777.7	+0.030%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,777.4	+0.017%	$43.0M	$30.0M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,774.9	−0.074%	$973K	$14.4M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,774.1	−0.100%	$1.08B	$1.32B	200x	as long as short
Extended ETH-USD	+0.0104%	1h	2,774.8	−0.078%	$31.6M	$76.6M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,776.1	−0.031%	$60.3M	$4.66B	50x	as long as short
Kalshi KXETHPERP	+0.0111%	8h	2,776.2	−0.026%	$8.5M	$672.1M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0128%	8h	2,780.1	+0.116%	$32.6M	$11.7M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0143%	1h	2,777.1	+0.005%	$258.9M	$224.0M	50x	as long as short
BloFin ETH-USDT	+0.0166%	8h	2,775.9	−0.037%	$287.4M	$197.8M	150x	as long as short
Reya ETHRUSDPERP	+0.0194%	1h	2,776.3	−0.023%	$7.5M	$992K	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0240%	1h	2,775.9	−0.036%	$88.7M	$331.8M	100x	as long as short
Hibachi ETH/USDT-P	+0.0352%	1h	2,775	−0.070%	$273K	$1.5M	20x	as long as short