Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Arcus against Polymarket Perps−0.006%7-day average +0.014% · 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−$160.155% of the position

Long on Polymarket Perps Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 7 days+0.015%+$2 · spread now −0.006%, 7d avg +0.014%

Together, before fees+0.015%+$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ETH-USD	2,725.6	0.0100	pay 0.0013% / 1h	43m 15s	$11.2M	$9.5M	50x
Short	Arcus ETH-USD	2,725.5	0.0100	get 0.0013% / 1h	43m 15s	$1.5M	$16.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Polymarket Perps. 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 Polymarket PerpsbpFee ArcusbpOrdersPrice spread, now −0.006%Rate

Funding earned: $0
Price spread: −0.006% → +0.014%: −$1.92
Slippage, 4 orders: −$3.04
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$17.46
Costs to cover: 0.155%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 6 min ago; Arcus: live order book, 1 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 Polymarket Perps live order book, 6 min ago	0.18 bp	5.2 bp −$5	5.9 bp −$59	12.3 bp −$1,234	doesn't fit
Sell Arcus live order book, 1 min ago	0.02 bp	3.5 bp −$4	3.8 bp −$38	5.3 bp −$534	doesn't fit

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	2,725.3	−0.011%	$288K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,727.2	+0.059%	$5K	$1K	50x	as long as short
HTX ETH-USDT	−0.0012%	8h	2,722.8	−0.103%	$1.05B	$1.21B	200x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,723.5	−0.078%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0009%	1h	2,727	+0.051%	$814K	$3.0M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,723.7	−0.070%	$28.0M	—	200x	as long as short
Injective ETH/USDC PERP	+0.0009%	1h	2,727.5	+0.070%	$117K	$22.5M	52x	as long as short
dYdX ETH-USD	+0.0018%	1h	2,726	+0.014%	$10.7M	$42.2M	50x	as long as short
BingX ETH-USDT	+0.0032%	8h	2,723.2	−0.088%	—	$1.13B	—	as long as short
Deribit ETH-PERPETUAL	+0.0033%	1h	2,724.3	−0.048%	$258.5M	$203.4M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ETHUSD	+0.0040%	1h	2,725.2	−0.015%	$185K	$785K	50x	as long as short
Bybit ETHUSDT	+0.0042%	8h	2,722.9	−0.098%	$2.35B	$4.40B	150x	as long as short
SunX ETH-USDT	+0.0064%	8h	2,724.1	−0.057%	$956K	$11.2M	100x	as long as short
Bullet ETH-USD	+0.0064%	1h	2,723.8	−0.066%	$179K	$1.7M	20x	as long as short
KuCoin ETHUSDTM	+0.0072%	8h	2,724.2	−0.052%	$377.0M	$576.8M	100x	as long as short
Aftermath Perps ETHUSD	+0.0072%	1h	2,727.7	+0.077%	$30K	$20K	20x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,721.1	−0.166%	$4.9M	$155K	20x	as long as short
Aster ETHUSDT	+0.0081%	8h	2,723.4	−0.082%	$252.1M	$843.4M	200x	as long as short
MEXC ETH_USDT	+0.0087%	8h	2,724.2	−0.053%	$1.56B	$2.55B	500x	as long as short
Binance ETHUSDT	+0.0087%	8h	2,723.2	−0.087%	$6.31B	$15.99B	150x	as long as short
OKX ETH-USDT-SWAP	+0.0088%	8h	2,722.7	−0.105%	$1.66B	$10.74B	100x	as long as short
Phemex ETHUSDT	+0.0089%	8h	2,723.2	−0.088%	$263.4M	$64.1M	150x	as long as short
Lighter ETH	+0.0096%	1h	2,723.6	−0.073%	$111.6M	$429.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,724.8	−0.028%	$23.4M	$102.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,725.1	−0.017%	—	$31.1M	500x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,724.2	−0.051%	$498K	$3.4M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,727.7	+0.078%	$15.3M	$8.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,725.5	−0.002%	$13.7M	$104.9M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,726.1	+0.018%	$3.08B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,726.1	+0.019%	$31.8M	$333.9M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,724.2	−0.051%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USDshort	+0.0100%	1h	2,725.5	−0.006%	$1.5M	$16.1M	25x
Bulk ETH-USD	+0.0100%	1h	2,729	+0.123%	$165.1M	$317.5M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,723.5	−0.079%	$3.32B	$8.85B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,723.1	−0.094%	$2.07B	$2.74B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,726.1	+0.019%	$15.0M	$42.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,725.3	−0.010%	$134.6M	$325.1M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,727.9	+0.085%	$183.2M	$672.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,726.9	+0.049%	$158.6M	$87.3M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,726.8	+0.043%	$8.7M	$31.2M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,727.9	+0.084%	$21.0M	$73.8M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,726	+0.014%	—	$846K	50x	as long as short
Polymarket Perps ETH-USDlong	+0.0100%	1h	2,725.6	long leg	$11.2M	$9.5M	50x
Bluefin ETH-PERP	+0.0100%	1h	2,723.9	−0.061%	$22K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,724.4	−0.042%	$40.8M	$30.1M	15x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,723.2	−0.088%	$54.2M	$187.9M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,722.3	−0.123%	$30.5M	$74.0M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,724.3	−0.050%	$49.9M	$4.27B	50x	as long as short
RISEx ETH/USDC	+0.0108%	1h	2,725.4	−0.009%	$5.6M	$11.7M	25x	as long as short
Kalshi KXETHPERP	+0.0158%	8h	2,725.5	−0.004%	$6.3M	$689.9M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0176%	1h	2,723.7	−0.069%	$82.8M	$316.0M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0188%	8h	2,725.7	+0.003%	$32.0M	$11.5M	100x	as long as short
Reya ETHRUSDPERP	+0.0203%	1h	2,723.5	−0.078%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0232%	1h	2,728.5	+0.106%	$249K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0349%	8h	2,723.2	−0.088%	$282.0M	$174.1M	150x	as long as short