Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:22 UTC+0.0081%/8h= +8.9% APRpaid last 24h +0.044%

Price spread now: Aster against Perpl−0.144%54s7-day average −0.013% · you buy dearer than you sell

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

Long on Perpl Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.100%−$10 on $10k

Price spread, last 7 days+0.147%+$15 · spread now −0.144%, 7d avg −0.013%

Together, before fees+0.047%+ Points / potential airdropPerpl: Active · Aster: Stage 5 · farm board+$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.131% cheaper against Perpl than usual: you would sell low and buy high (spread −0.144% now, against its 7-day average of −0.013%). If the spread goes back, that is −$13 on $10k: about 5.4 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.100%, so the current rate has only just turned in your favour. The two prices were read 54 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	Perpl ETH	2,739.7	0	get 0.0000% / 43m	28m 36s	$301K	$5.5M	8.3x
Short	Aster ETHUSDT	2,735.8	0.0081	get 0.0081% / 8h	4h 57m	$253.1M	$840.5M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now −0.144%Rate

Funding earned: $17
Price spread: −0.144% → −0.013%: −$13.07
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Aster: 4 bp × 2 orders: −$8
Net: −$17.87
Costs to cover: 0.218%
Break-even: 14.4 days

Slippage unknown: Perpl: no order-book sample; Aster: live order book, 7 min ago. 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 Aster live order book, 7 min ago	0.09 bp	4.1 bp −$4	4.9 bp −$49	6.3 bp −$629	12.3 bp −$6,133

Perpl: 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
Injective ETH/USDC PERP	−0.0141%	1h	2,738.7	−0.037%	$118K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,736.7	−0.110%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,738	−0.061%	$12.0M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,737.2	−0.093%	$10.8M	$41.7M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,735.4	−0.157%	$181K	$834K	50x	as long as short
Perpl ETHlong	0.0000%	43m	2,739.7	long leg	$301K	$5.5M	8.3x
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,738	−0.061%	$25.3M	—	200x	as long as short
Phoenix ETH	+0.0017%	1h	2,741.1	+0.051%	$847K	$2.9M	25x	as long as short
SoDEX ETH-USD	+0.0027%	1h	2,737.3	−0.088%	$54.5M	$187.6M	40x	as long as short
ApeX Omni ETHUSDT	+0.0039%	1h	2,740.1	+0.013%	$8.8M	$30.7M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDC	+0.0054%	8h	2,734.2	−0.203%	—	$18.4M	—	as long as short
OKX ETH-USDT-SWAP	+0.0069%	8h	2,735.7	−0.145%	$1.69B	$10.56B	100x	as long as short
KuCoin ETHUSDTM	+0.0071%	8h	2,735.2	−0.163%	$380.6M	$573.7M	100x	as long as short
Aster ETHUSDTshort	+0.0081%	8h	2,735.8	−0.144%	$253.1M	$840.5M	200x
Bullet ETH-USD	+0.0084%	1h	2,737.8	−0.071%	$181K	$1.7M	20x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,735.3	−0.161%	$4.9M	$154K	20x	as long as short
MEXC ETH_USDT	+0.0090%	8h	2,734.3	−0.197%	$1.56B	$2.51B	500x	as long as short
Binance ETHUSDT	+0.0090%	8h	2,735.4	−0.159%	$6.35B	$15.70B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,736.2	−0.129%	$112.3M	$429.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,737.1	−0.094%	$24.5M	$102.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,740.7	+0.037%	—	$30.4M	500x	as long as short
RISEx ETH/USDC	+0.0099%	1h	2,735.4	−0.157%	$5.6M	$11.4M	25x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,738.2	−0.056%	$15.9M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,734	−0.208%	$499K	$3.1M	50x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,736.7	−0.110%	$1.06B	$1.18B	200x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,734.7	−0.183%	$13.9M	$104.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,737.5	−0.080%	$3.11B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,736.2	−0.128%	$31.6M	$335.1M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,735.9	−0.138%	$2.43B	$4.18B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,734.4	−0.193%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,735.3	−0.161%	$2.8M	$16.3M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,739.7	+0.001%	$165.8M	$302.8M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,735	−0.171%	$3.38B	$8.65B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,734.9	−0.177%	$2.07B	$2.72B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,735.5	−0.153%	$15.0M	$39.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,739	−0.027%	$133.0M	$324.9M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,738.7	−0.035%	$182.0M	$667.2M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,738.8	−0.034%	$159.2M	$83.5M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,738.8	−0.033%	$21.2M	$69.5M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,739.5	−0.007%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,739.3	−0.015%	$10.9M	$8.8M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,739.1	−0.022%	$41.4M	$29.7M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,737.5	−0.079%	$960K	$11.4M	100x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,736.8	−0.104%	$265.9M	$65.1M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,733.8	−0.215%	$30.6M	$72.4M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,739	−0.027%	$54.0M	$4.25B	50x	as long as short
Aftermath Perps ETHUSD	+0.0137%	1h	2,740.7	+0.036%	$30K	$20K	20x	as long as short
Deribit ETH-PERPETUAL	+0.0137%	1h	2,738.6	−0.040%	$260.0M	$194.8M	50x	as long as short
Kalshi KXETHPERP	+0.0158%	8h	2,739.6	−0.004%	$7.6M	$672.4M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0195%	8h	2,739.7	−0.001%	$32.2M	$11.4M	100x	as long as short
BloFin ETH-USDT	+0.0210%	8h	2,739.4	−0.011%	$285.5M	$177.8M	150x	as long as short
Kraken Futures PF_ETHUSD	+0.0222%	1h	2,737.7	−0.073%	$86.0M	$309.7M	100x	as long as short
Reya ETHRUSDPERP	+0.0225%	1h	2,737.1	−0.096%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,739.1	−0.021%	$251K	$1.4M	20x	as long as short
Bluefin ETH-PERP	+0.3321%	1h	2,765.3	+0.934%	$21K	$20K	25x	as long as short