Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0038%/8h= −4.1% APRpaid last 24h +0.007%

Price spread now: Katana Perps against RISEx−0.009%7-day average −0.044% · you buy dearer than you sell

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

Long on RISEx Short on Katana Perps

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−0.044%−$4 · spread now −0.009%, 7d avg −0.044%

Together, before fees−0.044%−$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Katana Perps is 0.035% dearer against RISEx than usual: you sell high and buy low (spread −0.009% now, against its 7-day average of −0.044%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx ETH/USDC	2,748.8	0.0137	pay 0.0017% / 1h	11m 25s	$5.6M	$11.3M	25x
Short	Katana Perps ETH-USD	2,748.5	0.0100	get 0.0100% / 8h	7h 11m	$522K	$3.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against RISEx. 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 RISExbpFee Katana PerpsbpOrdersPrice spread, now −0.009%Rate

Funding earned: −$7.88
Price spread: −0.009% → −0.044%: $3.46
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$14.23
Costs to cover: 0.098%
Break-even: never at this rate

Slippage unknown: RISEx: live order book, 3 min ago; Katana 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 RISEx live order book, 3 min ago	0.02 bp	3.0 bp −$3	4.2 bp −$42	322.5 bp −$32.2K	doesn't fit
Sell Katana Perps no order-book sample	—	—	—	—	—

Katana 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 54 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	−0.0112%	43m	2,749.4	+0.025%	$282K	$5.3M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,744.5	−0.155%	$5K	$1K	50x	as long as short
Phemex ETHUSDT	−0.0065%	8h	2,749.1	+0.011%	$264.6M	$61.8M	150x	as long as short
Bybit ETHUSDT	−0.0044%	8h	2,748.6	−0.006%	$2.36B	$4.18B	150x	as long as short
BloFin ETH-USDT	−0.0026%	8h	2,744.2	−0.167%	$279.5M	$174.1M	150x	as long as short
Phoenix ETH	−0.0012%	1h	2,744.4	−0.158%	$812K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,748.6	−0.006%	$12.0M	—	200x	as long as short
Hibachi ETH/USDT-P	−0.0008%	1h	2,749.2	+0.016%	$242K	$1.4M	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,750.1	+0.050%	$11.0M	$42.0M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,746.8	−0.071%	$6.7M	$663.9M	4.9x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,750.3	+0.056%	$33.2M	—	200x	as long as short
01 Exchange ETHUSD	+0.0016%	1h	2,748.1	−0.024%	$184K	$928K	50x	as long as short
Gate ETH_USDT	+0.0047%	8h	2,748.4	−0.014%	$3.27B	$8.45B	200x	as long as short
HTX ETH-USDT	+0.0047%	8h	2,749.2	+0.017%	$1.05B	$1.18B	200x	as long as short
SoDEX ETH-USD	+0.0066%	1h	2,748.9	+0.005%	$54.8M	$160.0M	40x	as long as short
Aster ETHUSDT	+0.0070%	8h	2,748.5	−0.009%	$254.0M	$798.1M	200x	as long as short
ApeX Omni ETHUSDT	+0.0071%	1h	2,743.7	−0.183%	$8.3M	$30.4M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0072%	8h	2,748.4	−0.013%	$1.66B	$10.24B	100x	as long as short
MEXC ETH_USDT	+0.0080%	8h	2,749.4	+0.025%	$1.59B	$2.61B	500x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,747.4	−0.050%	$4.9M	$199K	20x	as long as short
Binance ETHUSDT	+0.0081%	8h	2,748.5	−0.008%	$6.35B	$15.43B	150x	as long as short
KuCoin ETHUSDTM	+0.0087%	8h	2,749.5	+0.026%	$366.1M	$484.7M	100x	as long as short
SunX ETH-USDT	+0.0093%	8h	2,749.3	+0.021%	$950K	$10.1M	100x	as long as short
Bullet ETH-USD	+0.0093%	1h	2,749.6	+0.029%	$178K	$1.7M	20x	as long as short
Lighter ETH	+0.0096%	1h	2,749.4	+0.022%	$113.5M	$408.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,750.7	+0.072%	$24.3M	$98.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,747.9	−0.030%	—	$23.8M	500x	as long as short
Katana Perps ETH-USDshort	+0.0100%	8h	2,748.5	−0.009%	$522K	$3.6M	50x
Paradex ETH-USD-PERP	+0.0100%	8h	2,753.4	+0.171%	$15.5M	$6.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,749.1	+0.014%	$14.6M	$99.9M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,750.9	+0.078%	$3.13B	$1.97B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,749.9	+0.042%	$32.2M	$328.1M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,748.2	−0.020%	$2.8M	$16.0M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,748.8	+0.001%	$1.6M	$15.4M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,748.9	+0.005%	$2.12B	$2.55B	150x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,748.8	+0.003%	—	$18.5M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,749.4	+0.022%	$15.1M	$38.9M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,743.6	−0.189%	$132.5M	$307.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,743.4	−0.194%	$186.1M	$690.5M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,744.4	−0.158%	$159.6M	$77.6M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,747.3	−0.053%	$21.1M	$71.6M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,750.3	+0.057%	—	$415K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,750.6	+0.067%	$11.3M	$9.1M	50x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,738.5	−0.372%	$165.3M	$346.3M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,747.8	−0.036%	$30.4M	$68.7M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0104%	1h	2,749.5	+0.025%	$82.5M	$292.7M	100x	as long as short
Aftermath Perps ETHUSD	+0.0118%	1h	2,743.1	−0.207%	$30K	$12K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,749.6	+0.031%	$46.0M	$4.14B	50x	as long as short
Deribit ETH-PERPETUAL	+0.0121%	1h	2,750.5	+0.063%	$266.0M	$214.4M	50x	as long as short
RISEx ETH/USDClong	+0.0137%	1h	2,748.8	long leg	$5.6M	$11.3M	25x
Reya ETHRUSDPERP	+0.0169%	1h	2,742.7	−0.222%	$7.3M	$936K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0180%	8h	2,751.6	+0.102%	$32.4M	$10.6M	100x	as long as short
Injective ETH/USDC PERP	+0.0253%	1h	2,748.6	−0.006%	$118K	$22.9M	52x	as long as short
Bluefin ETH-PERP	+0.0776%	1h	2,749.9	+0.043%	$20K	$15K	25x	as long as short