Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0295%/8h= +32.3% APRpaid last 24h −0.009%

Price spread now: KuCoin against RISEx+0.066%7-day average −0.005% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$210.215% of the position

Long on RISEx Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.072%−$7 on $10k

Price spread, last 7 days−0.083%−$8 · spread now +0.066%, 7d avg −0.005%

Together, before fees−0.154%−$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and KuCoin is 0.072% dearer against RISEx than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.005%. Mind the row above: over the last 3 days funding on this pair cost −0.072%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.072% in total (about -7.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx ETH/USDC	2,780.5	−0.0206	get 0.0026% / 1h	46m 42s	$5.7M	$11.9M	25x
Short	KuCoin ETHUSDTM	2,782.3	0.0089	get 0.0089% / 8h	46m 42s	$422.8M	$740.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.066%Rate

Funding earned: $62.02
Price spread: +0.066% → −0.005%: $7.15
Slippage, 4 orders: −$3.49
Fee RISEx: 3 bp × 2 orders: −$6
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $47.68
Costs to cover: 0.215%
Break-even: 1.6 days

Slippage from RISEx: live order book, 2 min ago; KuCoin: live order book, 2 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 RISEx live order book, 2 min ago	1.29 bp	4.3 bp −$4	5.5 bp −$55	278.0 bp −$27.8K	doesn't fit
Sell KuCoin live order book, 2 min ago	0.02 bp	6.0 bp −$6	7.6 bp −$76	11.2 bp −$1,116	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	2,781.2	+0.028%	$287K	$6.9M	8.3x	as long as short
RISEx ETH/USDClong	−0.0206%	1h	2,780.5	long leg	$5.7M	$11.9M	25x
ApeX Omni ETHUSDT	−0.0110%	1h	2,783.3	+0.102%	$8.8M	$32.8M	100x	as long as short
Injective ETH/USDC PERP	−0.0088%	1h	2,781.9	+0.051%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,781.9	+0.051%	$5K	$2K	50x	as long as short
01 Exchange ETHUSD	−0.0016%	1h	2,781.2	+0.026%	$168K	$1.2M	50x	as long as short
Aftermath Perps ETHUSD	−0.0015%	1h	2,782.7	+0.081%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,784	+0.128%	$12.8M	$45.9M	50x	as long as short
Phoenix ETH	+0.0003%	1h	2,783.6	+0.113%	$883K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,780.4	−0.001%	$22.5M	—	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDT	+0.0016%	8h	2,783.2	+0.098%	—	$1.21B	—	as long as short
OKX ETH-USDT-SWAP	+0.0021%	8h	2,783.5	+0.109%	$1.71B	$11.93B	100x	as long as short
Phemex ETHUSDT	+0.0023%	8h	2,781.6	+0.040%	$271.1M	$68.9M	150x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0026% / S +0.0009%	1h	2,780.4	−0.003%	$12.9M	—	200x	as long as short
Aster ETHUSDT	+0.0039%	8h	2,783.6	+0.113%	$257.7M	$1.00B	200x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,779.5	−0.033%	$5.0M	$636K	20x	as long as short
Bullet ETH-USD	+0.0066%	1h	2,779.6	−0.033%	$184K	$1.7M	20x	as long as short
MEXC ETH_USDT	+0.0066%	8h	2,782.8	+0.082%	$1.60B	$2.63B	500x	as long as short
Bitget ETHUSDT	+0.0066%	8h	2,783.4	+0.105%	$2.11B	$3.11B	150x	as long as short
Binance ETHUSDT	+0.0068%	8h	2,783.4	+0.106%	$6.46B	$17.29B	150x	as long as short
Gate ETH_USDT	+0.0072%	8h	2,783.2	+0.098%	$3.31B	$9.60B	200x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,782.5	+0.071%	$60.3M	$4.62B	50x	as long as short
KuCoin ETHUSDTMshort	+0.0089%	8h	2,782.3	+0.066%	$422.8M	$740.0M	100x
HTX ETH-USDT	+0.0091%	8h	2,781	+0.018%	$1.08B	$1.32B	200x	as long as short
Bybit ETHUSDT	+0.0091%	8h	2,783.7	+0.115%	$2.52B	$4.64B	150x	as long as short
SoDEX ETH-USD	+0.0093%	1h	2,780.9	+0.016%	$55.4M	$229.1M	40x	as long as short
Lighter ETH	+0.0096%	1h	2,783.8	+0.120%	$116.3M	$496.3M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,785.3	+0.174%	$25.5M	$120.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,780.5	+0.002%	—	$42.0M	500x	as long as short
Vest ETH-PERP	+0.0097%	1h	2,781.4	+0.035%	—	$1.1M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,781	+0.020%	$16.0M	$10.3M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,780.6	+0.005%	$478K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,780.7	+0.007%	$14.3M	$118.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,785.9	+0.195%	$3.20B	$2.35B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,781.9	+0.052%	$31.3M	$309.3M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,780.2	−0.010%	$2.8M	$17.2M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,781.9	+0.051%	$2.7M	$17.2M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,784.2	+0.135%	$168.3M	$253.1M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,781.7	+0.043%	$15.1M	$44.0M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,782.7	+0.079%	$147.8M	$336.6M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,782.1	+0.057%	$182.1M	$781.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,782	+0.054%	$161.7M	$89.9M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,781.6	+0.041%	$21.5M	$58.4M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,781.6	+0.041%	$10.8M	$7.6M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,781.1	+0.023%	$21K	$24K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,782.7	+0.081%	$42.8M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,779.9	−0.020%	$975K	$13.9M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,782	+0.054%	$32.7M	$77.8M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0113%	1h	2,782.7	+0.081%	$258.9M	$223.0M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0122%	1h	2,782.3	+0.064%	$86.9M	$333.3M	100x	as long as short
Kalshi KXETHPERP	+0.0123%	8h	2,782.1	+0.059%	$8.3M	$683.0M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0137%	8h	2,783	+0.092%	$32.7M	$12.1M	100x	as long as short
BloFin ETH-USDT	+0.0187%	8h	2,781.1	+0.022%	$285.2M	$195.0M	150x	as long as short
Reya ETHRUSDPERP	+0.0198%	1h	2,780.2	−0.010%	$7.4M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0280%	1h	2,784	+0.126%	$271K	$1.5M	20x	as long as short