Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.004%

Price spread now: Nado against MEXC−0.057%7-day average +0.019% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$90.094% of the position

Long on MEXC Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.024%+$2 on $10k

Price spread, last 7 days+0.053%+$5 · spread now −0.057%, 7d avg +0.019%

Together, before fees+0.077%+ Points / potential airdropNado: Active · farm board+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.075% cheaper against MEXC than usual: you would sell low and buy high (spread −0.057% now, against its 7-day average of +0.019%). If the spread goes back, that is −$8 on $10k: about 6.3 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ETH_USDT	2,770	0.0055	pay 0.0055% / 8h	5m 33s	$1.62B	$2.66B	500x
Short	Nado ETH-PERP	2,768.5	0.0095	get 0.0012% / 1h	5m 33s	$14.3M	$118.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.057%Rate

Funding earned: $8.42
Price spread: −0.057% → +0.019%: −$7.54
Slippage, 4 orders: −$0.4
Fee MEXC: 1 bp × 2 orders: −$2
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$8.52
Costs to cover: 0.094%
Break-even: 14.1 days

Slippage from MEXC: live order book, 4 min ago; Nado: live order book, 4 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, 4 min ago	0.02 bp	1.0 bp −$1	1.0 bp −$10	1.5 bp −$153	4.2 bp −$2,089
Sell Nado live order book, 4 min ago	0.18 bp	3.7 bp −$4	3.8 bp −$38	6.1 bp −$609	14.1 bp −$7,068

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	−0.0223%	43m	2,769.1	−0.032%	$285K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0206%	1h	2,769.7	−0.013%	$5.6M	$11.9M	25x	as long as short
Injective ETH/USDC PERP	−0.0088%	1h	2,762.1	−0.286%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,769.5	−0.019%	$5K	$2K	50x	as long as short
ApeX Omni ETHUSDT	−0.0021%	1h	2,769.3	−0.027%	$8.7M	$32.9M	100x	as long as short
01 Exchange ETHUSD	−0.0008%	1h	2,770.1	+0.003%	$168K	$1.2M	50x	as long as short
dYdX ETH-USD	0.0000%	1h	2,769.6	−0.016%	$12.7M	$45.9M	50x	as long as short
Phoenix ETH	+0.0003%	1h	2,771.5	+0.053%	$876K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,770.8	+0.029%	$22.4M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0021%	8h	2,770	−0.001%	$1.71B	$11.88B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX ETH/USD [ETH-USDC]	L +0.0026% / S +0.0009%	1h	2,769.3	−0.025%	$12.8M	—	200x	as long as short
Aftermath Perps ETHUSD	+0.0029%	1h	2,771.1	+0.040%	$29K	$22K	20x	as long as short
SoDEX ETH-USD	+0.0029%	1h	2,768.9	−0.041%	$55.1M	$228.8M	40x	as long as short
Phemex ETHUSDT	+0.0030%	8h	2,769.8	−0.007%	$270.0M	$68.7M	150x	as long as short
Aster ETHUSDT	+0.0032%	8h	2,770.2	+0.007%	$255.7M	$1.00B	200x	as long as short
Bullet ETH-USD	+0.0035%	1h	2,769.8	−0.008%	$182K	$1.7M	20x	as long as short
Binance ETHUSDT	+0.0055%	8h	2,770	−0.001%	$6.45B	$17.29B	150x	as long as short
MEXC ETH_USDTlong	+0.0055%	8h	2,770	long leg	$1.62B	$2.66B	500x
Aevo ETH-PERP	+0.0056%	1h	2,767.7	−0.085%	$5.0M	$636K	20x	as long as short
Bitget ETHUSDT	+0.0065%	8h	2,770.2	+0.007%	$2.10B	$3.10B	150x	as long as short
Gate ETH_USDT	+0.0067%	8h	2,769.2	−0.032%	$3.29B	$9.70B	200x	as long as short
KuCoin ETHUSDTM	+0.0081%	8h	2,770.3	+0.011%	$421.0M	$738.4M	100x	as long as short
Bybit ETHUSDT	+0.0088%	8h	2,770.2	+0.006%	$2.51B	$4.62B	150x	as long as short
BingX ETH-USDT	+0.0088%	8h	2,769.2	−0.031%	—	$1.24B	—	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,770.9	+0.032%	$60.2M	$4.59B	50x	as long as short
HTX ETH-USDT	+0.0093%	8h	2,769.2	−0.029%	$1.08B	$1.32B	200x	as long as short
Deribit ETH-PERPETUAL	+0.0093%	1h	2,770.6	+0.019%	$259.1M	$222.2M	50x	as long as short
Nado ETH-PERPshort	+0.0095%	1h	2,768.5	−0.057%	$14.3M	$118.2M	50x
Lighter ETH	+0.0096%	1h	2,769	−0.036%	$115.0M	$501.8M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,770.6	+0.019%	$25.3M	$122.1M	50x	as long as short
Vest ETH-PERP	+0.0097%	1h	2,770.5	+0.015%	—	$1.1M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,768.7	−0.049%	$15.9M	$10.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,769.2	−0.030%	$475K	$2.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,772.6	+0.094%	$3.17B	$2.36B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,769.3	−0.025%	$31.2M	$316.9M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,769.2	−0.030%	$2.8M	$17.2M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,770.3	+0.011%	$2.7M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,769.4	−0.023%	$169.4M	$262.8M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,769.9	−0.006%	$15.1M	$44.2M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,768.5	−0.054%	$148.3M	$337.3M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,769.8	−0.009%	$181.8M	$784.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,770.9	+0.032%	$161.1M	$89.5M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,770.8	+0.028%	$21.4M	$58.7M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,770.3	+0.010%	$10.6M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,769.8	−0.010%	$21K	$24K	25x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,769	−0.038%	$972K	$13.9M	100x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,771.2	+0.044%	$42.7M	$29.4M	15x	as long as short
Kalshi KXETHPERP	+0.0103%	8h	2,770.6	+0.021%	$8.2M	$688.2M	4.9x	as long as short
Extended ETH-USD	+0.0104%	1h	2,768.8	−0.045%	$32.5M	$78.4M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,771.3	+0.047%	—	$43.8M	500x	as long as short
Kraken Futures PF_ETHUSD	+0.0123%	1h	2,771.1	+0.040%	$90.4M	$338.2M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0143%	8h	2,771.5	+0.053%	$32.6M	$12.2M	100x	as long as short
BloFin ETH-USDT	+0.0175%	8h	2,770.1	+0.004%	$286.5M	$194.4M	150x	as long as short
Hibachi ETH/USDT-P	+0.0200%	1h	2,770	−0.002%	$252K	$1.6M	20x	as long as short
Reya ETHRUSDPERP	+0.0205%	1h	2,769.9	−0.003%	$7.3M	$1.2M	25x	as long as short