Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:55 UTC+0.0522%/8h= +57.2% APRpaid last 24h +0.058%

Price spread now: Aftermath Perps against Perpl+0.274%7-day average — · you sell dearer than you buy

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

Long on Perpl Short on Aftermath Perps

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 airdropPerpl: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Aftermath Perps is 0.274% dearer against Perpl than usual: you sell high and buy low: +$27 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl ETH	2,751.1	−0.0447	get 0.0040% / 43m	18m 49s	$324K	$6.2M	8.3x
Short	Aftermath Perps ETHUSD	2,758.6	0.0076	get 0.0009% / 1h	56m 49s	$30K	$21K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Perpl. 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 PerplbpFee Aftermath PerpsbpOrdersPrice spread, now +0.274%Rate

Funding earned: $109.66
Price spread: +0.274% → 0.000%: $27.36
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: $114.22
Costs to cover: 0.228%
Break-even: from the start

Slippage unknown: Perpl: no order-book sample; Aftermath 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 Perpl no order-book sample	—	—	—	—	—
Sell Aftermath Perps no order-book sample	—	—	—	—	—

Perpl and Aftermath 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 ETHlong	−0.0447%	43m	2,751.1	long leg	$324K	$6.2M	8.3x
Hotstuff ETH-PERP	−0.0080%	1h	2,753.5	+0.088%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,751	−0.002%	$5.7M	$11.2M	25x	as long as short
Phoenix ETH	−0.0003%	1h	2,756.1	+0.182%	$862K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,751	−0.004%	$10.9M	$41.6M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,752.6	+0.055%	$168K	$1.1M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,749.4	−0.061%	$22.2M	—	200x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0009% / S +0.0025%	1h	2,749.4	−0.061%	$12.0M	—	200x	as long as short
BingX ETH-USDC	+0.0027%	8h	2,745.5	−0.202%	—	$17.3M	—	as long as short
OKX ETH-USDT-SWAP	+0.0033%	8h	2,744.9	−0.226%	$1.68B	$10.97B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ETHUSDT	+0.0043%	8h	2,746.5	−0.167%	$257.3M	$853.6M	200x	as long as short
HTX ETH-USDT	+0.0052%	8h	2,748.3	−0.100%	$1.07B	$1.23B	200x	as long as short
MEXC ETH_USDT	+0.0054%	8h	2,746	−0.186%	$1.58B	$2.51B	500x	as long as short
Binance ETHUSDT	+0.0055%	8h	2,745.8	−0.192%	$6.40B	$16.22B	150x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,747.1	−0.145%	$4.9M	$166K	20x	as long as short
ApeX Omni ETHUSDT	+0.0064%	1h	2,754.7	+0.130%	$8.8M	$31.4M	100x	as long as short
Aftermath Perps ETHUSDshort	+0.0076%	1h	2,758.6	+0.274%	$30K	$21K	20x
Gate ETH_USDT	+0.0076%	8h	2,746	−0.185%	$3.33B	$8.60B	200x	as long as short
Bullet ETH-USD	+0.0078%	1h	2,749.4	−0.062%	$183K	$1.7M	20x	as long as short
Bitget ETHUSDT	+0.0082%	8h	2,745.7	−0.197%	$2.07B	$2.85B	150x	as long as short
KuCoin ETHUSDTM	+0.0087%	8h	2,746	−0.184%	$384.2M	$605.4M	100x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,749.8	−0.049%	$59.8M	$4.38B	50x	as long as short
Variational Omni ETH	+0.0094%	8h	2,755	+0.141%	$133.6M	$346.5M	—	as long as short
Vest ETH-PERP	+0.0095%	1h	2,751.5	+0.017%	—	$870K	50x	as long as short
Lighter ETH	+0.0096%	1h	2,746.1	−0.182%	$113.1M	$435.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,750.6	−0.019%	$25.2M	$105.3M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,753.1	+0.072%	—	$35.7M	500x	as long as short
Deribit ETH-PERPETUAL	+0.0096%	1h	2,750	−0.038%	$258.9M	$201.6M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,756.4	+0.193%	$15.9M	$8.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,750.4	−0.025%	$473K	$2.8M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,751.3	+0.009%	$14.1M	$112.9M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,747.1	−0.145%	$3.12B	$2.14B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,751.6	+0.017%	$31.2M	$332.2M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,744.9	−0.225%	$2.46B	$4.33B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,750.4	−0.025%	$2.8M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,751.9	+0.030%	$2.8M	$16.8M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,752.6	+0.056%	$169.2M	$297.0M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,746.6	−0.162%	$14.9M	$42.4M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,753.4	+0.085%	$183.9M	$727.5M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,754.9	+0.140%	$160.2M	$80.8M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,753.7	+0.095%	$21.3M	$65.4M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,750.2	−0.032%	$10.4M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,749.4	−0.062%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,750.7	−0.016%	$42.0M	$28.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,748.7	−0.087%	$963K	$12.7M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,748.6	−0.091%	$54.7M	$187.7M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,748.6	−0.091%	$267.4M	$65.8M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,745.3	−0.212%	$30.6M	$74.7M	50x	as long as short
Kalshi KXETHPERP	+0.0125%	8h	2,751.1	0.000%	$7.7M	$670.8M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0159%	8h	2,751.5	+0.016%	$32.4M	$11.0M	100x	as long as short
Hibachi ETH/USDT-P	+0.0168%	1h	2,755.7	+0.167%	$251K	$1.5M	20x	as long as short
BloFin ETH-USDT	+0.0175%	8h	2,750	−0.039%	$285.5M	$177.5M	150x	as long as short
Injective ETH/USDC PERP	+0.0209%	1h	2,756.7	+0.204%	$118K	$22.5M	52x	as long as short
Reya ETHRUSDPERP	+0.0216%	1h	2,749.4	−0.063%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0354%	1h	2,749.8	−0.046%	$97.0M	$316.6M	100x	as long as short