Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0042%/8h= +4.6% APRpaid last 24h −0.017%

Price spread now: Kalshi against StandX+0.022%7-day average −0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$220.220% of the position

Long on StandX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.141%−$14 on $10k

Price spread, last 7 days+0.008%+$1 · spread now +0.022%, 7d avg −0.026%

Together, before fees−0.133%+ Points / potential airdropStandX: Active · farm board−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Kalshi is 0.047% dearer against StandX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.026%. Mind the row above: over the last 7 days funding on this pair cost −0.141%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	StandX ETH-USD	2,753.1	0.0100	pay 0.0013% / 1h	24m 25s	$21.3M	$67.8M	40x
Short	Kalshi KXETHPERP	2,753.7	0.0142	get 0.0142% / 8h	2h 24m	$7.7M	$674.8M	4.9x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against StandX. 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 StandXbpFee KalshibpOrdersPrice spread, now +0.022%Rate

Funding earned: $8.74
Price spread: +0.022% → −0.026%: $4.73
Slippage, 4 orders: −$4.03
Fee StandX: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$8.56
Costs to cover: 0.220%
Break-even: 13.9 days

Slippage from StandX: live order book, 5 min ago; Kalshi: live order book, 5 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 StandX live order book, 5 min ago	1.09 bp	5.9 bp −$6	6.4 bp −$64	8.3 bp −$826	16.5 bp −$8,227
Sell Kalshi live order book, 5 min ago	0.36 bp	5.4 bp −$5	7.3 bp −$73	10.6 bp −$1,059	17.1 bp −$8,531

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	−0.0447%	43m	2,750.5	−0.096%	$312K	$6.0M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,750.7	−0.087%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,750.6	−0.090%	$5.7M	$11.4M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,750.9	−0.078%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,752.8	−0.011%	$849K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,753.5	+0.016%	$10.8M	$41.9M	50x	as long as short
ApeX Omni ETHUSDT	+0.0003%	1h	2,750.4	−0.097%	$8.7M	$31.5M	100x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,751	−0.076%	$22.2M	—	200x	as long as short
01 Exchange ETHUSD	+0.0024%	1h	2,751.3	−0.065%	$181K	$1.1M	50x	as long as short
BingX ETH-USDT	+0.0036%	8h	2,750.8	−0.082%	—	$1.19B	—	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0046%	8h	2,751.4	−0.062%	$1.69B	$10.98B	100x	as long as short
HTX ETH-USDT	+0.0056%	8h	2,753.3	+0.009%	$1.07B	$1.21B	200x	as long as short
Aster ETHUSDT	+0.0070%	8h	2,750.9	−0.082%	$253.0M	$856.9M	200x	as long as short
KuCoin ETHUSDTM	+0.0071%	8h	2,751	−0.075%	$379.8M	$607.5M	100x	as long as short
MEXC ETH_USDT	+0.0078%	8h	2,751	−0.078%	$1.57B	$2.56B	500x	as long as short
Binance ETHUSDT	+0.0080%	8h	2,750.7	−0.086%	$6.36B	$16.22B	150x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,748.6	−0.162%	$4.9M	$168K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,754.8	+0.061%	$59.1M	$4.35B	50x	as long as short
Gate ETH_USDT	+0.0093%	8h	2,751.2	−0.070%	$3.39B	$8.89B	200x	as long as short
Bitget ETHUSDT	+0.0093%	8h	2,751.3	−0.066%	$2.08B	$2.84B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,752.5	−0.021%	$113.2M	$442.9M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,753.8	+0.025%	$24.9M	$107.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,750.4	−0.100%	—	$35.5M	500x	as long as short
Phemex ETHUSDT	+0.0098%	8h	2,753.5	+0.015%	$267.7M	$65.9M	150x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,755.8	+0.098%	$16.3M	$8.2M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,750.6	−0.091%	$470K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,750	−0.112%	$14.0M	$112.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,753.1	0.000%	$3.13B	$2.10B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,752.4	−0.024%	$31.6M	$333.9M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,750.9	−0.081%	$2.46B	$4.33B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,749.8	−0.120%	$2.8M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,751	−0.076%	$2.8M	$16.5M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,752.8	−0.011%	$15.1M	$41.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,753.3	+0.007%	$133.3M	$345.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,751.6	−0.054%	$181.9M	$701.5M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,751.8	−0.048%	$160.0M	$83.5M	50x	as long as short
StandX ETH-USDlong	+0.0100%	1h	2,753.1	long leg	$21.3M	$67.8M	40x
Vest ETH-PERP	+0.0100%	1h	2,752.5	−0.021%	—	$869K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,751.5	−0.058%	$10.7M	$8.6M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,750.7	−0.087%	$181K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,750.7	−0.086%	$21K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,752.6	−0.017%	$41.8M	$29.5M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,751.8	−0.046%	$964K	$12.4M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,753.6	+0.018%	$54.8M	$187.7M	40x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,751.8	−0.047%	$165.7M	$300.7M	25x	as long as short
Aftermath Perps ETHUSD	+0.0101%	1h	2,750.9	−0.079%	$30K	$20K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,749.5	−0.131%	$30.5M	$73.6M	50x	as long as short
Kalshi KXETHPERPshort	+0.0142%	8h	2,753.7	+0.022%	$7.7M	$674.8M	4.9x
Deribit ETH-PERPETUAL	+0.0142%	1h	2,754.7	+0.057%	$258.5M	$199.9M	50x	as long as short
Orderly PERP_ETH_USDC	+0.0171%	8h	2,753.6	+0.018%	$32.4M	$11.1M	100x	as long as short
Hibachi ETH/USDT-P	+0.0208%	1h	2,755.3	+0.080%	$251K	$1.5M	20x	as long as short
Injective ETH/USDC PERP	+0.0209%	1h	2,750.5	−0.094%	$118K	$22.5M	52x	as long as short
Reya ETHRUSDPERP	+0.0220%	1h	2,750.9	−0.081%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0353%	1h	2,754.5	+0.051%	$90.0M	$316.1M	100x	as long as short