Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0092%/8h= −10.1% APRpaid last 24h −0.005%

Price spread now: 01 Exchange against SunX+0.070%7-day average +0.043% · 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−$19as in the Price arb table

costs, in and out, $10k−$220.215% of the position

Long on SunX Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.037%−$4 on $10k

Price spread, last 3 days (all we have)+0.198%+$20 · spread now +0.070%, 7d avg +0.043%

Together, before fees+0.162%+$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. 01 Exchange is 0.027% dearer against SunX than usual: you sell high and buy low (spread +0.070% now, against its 7-day average of +0.043%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 24 hours. At the pace of the last 3 days (−0.037% in total) that is about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ETH-USDT	2,783.8	0.0100	pay 0.0100% / 8h	3h 17m	$976K	$14.4M	100x
Short	01 Exchange ETHUSD	2,785.7	0.0008	get 0.0001% / 1h	17m 23s	$175K	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange against SunX. 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 SunXbpFee 01 ExchangebpOrdersPrice spread, now +0.070%Rate

Funding earned: −$19.32
Price spread: +0.070% → +0.043%: $2.71
Slippage, 4 orders: −$6.54
Fee SunX: 4 bp × 2 orders: −$8
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$38.15
Costs to cover: 0.215%
Break-even: never at this rate

Slippage from SunX: live order book, 11 min ago; 01 Exchange: 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 SunX live order book, 11 min ago	0.52 bp	5.9 bp −$6	6.6 bp −$66	8.8 bp −$876	12.9 bp −$6,456
Sell 01 Exchange live order book, 2 min ago	0.18 bp	5.6 bp −$6	9.9 bp −$99	doesn't fit	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	2,785.2	+0.053%	$292K	$6.9M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,786.7	+0.106%	$5K	$2K	50x	as long as short
Phoenix ETH	−0.0032%	1h	2,785.7	+0.070%	$796K	$3.5M	25x	as long as short
RISEx ETH/USDC	−0.0005%	1h	2,786.2	+0.087%	$5.8M	$12.1M	25x	as long as short
Phemex ETHUSDT	−0.0001%	8h	2,786.2	+0.089%	$268.7M	$66.5M	150x	as long as short
dYdX ETH-USD	0.0000%	1h	2,785.7	+0.071%	$13.5M	$44.8M	50x	as long as short
Injective ETH/USDC PERP	+0.0003%	1h	2,787.8	+0.145%	$120K	$22.5M	52x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,785.2	+0.053%	$22.5M	—	200x	as long as short
01 Exchange ETHUSDshort	+0.0008%	1h	2,785.7	+0.070%	$175K	$1.2M	50x
OKX ETH-USDT-SWAP	+0.0023%	8h	2,783.1	−0.025%	$1.70B	$11.95B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX ETH/USD [ETH-USDC]	L +0.0026% / S +0.0010%	1h	2,785.2	+0.053%	$13.0M	—	200x	as long as short
MEXC ETH_USDT	+0.0047%	8h	2,784.5	+0.027%	$1.57B	$2.60B	500x	as long as short
Binance ETHUSDT	+0.0048%	8h	2,784.3	+0.021%	$6.48B	$17.28B	150x	as long as short
Aevo ETH-PERP	+0.0048%	1h	2,781.7	−0.075%	$5.0M	$652K	20x	as long as short
Gate ETH_USDT	+0.0060%	8h	2,784.4	+0.023%	$3.31B	$9.63B	200x	as long as short
Aster ETHUSDT	+0.0064%	8h	2,784.4	+0.024%	$257.9M	$1.00B	200x	as long as short
Aftermath Perps ETHUSD	+0.0064%	1h	2,792	+0.298%	$29K	$22K	20x	as long as short
Bitget ETHUSDT	+0.0073%	8h	2,783.8	+0.001%	$2.10B	$3.17B	150x	as long as short
Bulk ETH-USD	+0.0080%	1h	2,788.7	+0.179%	$165.6M	$263.4M	25x	as long as short
Lighter ETH	+0.0096%	1h	2,785.9	+0.077%	$116.2M	$521.0M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,787.3	+0.128%	$25.7M	$125.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,786.5	+0.100%	—	$48.0M	500x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,786.2	+0.088%	$495K	$2.7M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,790	+0.224%	$16.0M	$11.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,785.3	+0.056%	$16.9M	$114.8M	50x	as long as short
Pacifica ETH	+0.0100%	1h	2,786	+0.081%	$31.5M	$276.8M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,784.2	+0.015%	$2.52B	$4.65B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,785.3	+0.056%	$2.9M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,787.5	+0.135%	$2.9M	$17.6M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,784.6	+0.032%	$429.3M	$747.7M	100x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,784.8	+0.038%	—	$17.2M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,786.7	+0.106%	$15.5M	$42.4M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,789.3	+0.199%	$141.4M	$317.3M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,787.2	+0.124%	$178.3M	$783.0M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,786.2	+0.088%	$162.0M	$98.1M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,786	+0.082%	$10.6M	$30.6M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,786.5	+0.099%	$21.5M	$57.7M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,786.4	+0.095%	$10.9M	$8.0M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,788.4	+0.166%	$191K	$1.8M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,785.2	+0.052%	$21K	$25K	25x	as long as short
SunX ETH-USDTlong	+0.0100%	8h	2,783.8	long leg	$976K	$14.4M	100x
SoDEX ETH-USD	+0.0100%	1h	2,786	+0.081%	$55.5M	$228.5M	40x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,786.6	+0.103%	$1.09B	$1.31B	200x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,785.8	+0.073%	—	$1.1M	50x	as long as short
Extended ETH-USD	+0.0104%	1h	2,784.8	+0.039%	$31.8M	$76.8M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,788.1	+0.158%	$60.4M	$4.69B	50x	as long as short
Orderly PERP_ETH_USDC	+0.0121%	8h	2,787.7	+0.141%	$32.7M	$11.5M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0131%	1h	2,786	+0.079%	$259.0M	$223.4M	50x	as long as short
Kalshi KXETHPERP	+0.0133%	8h	2,787.1	+0.120%	$8.6M	$666.8M	4.9x	as long as short
Derive ETH-PERP	+0.0134%	1h	2,786.4	+0.095%	$43.2M	$29.8M	15x	as long as short
Kraken Futures PF_ETHUSD	+0.0135%	1h	2,787.8	+0.144%	$88.9M	$337.3M	100x	as long as short
BloFin ETH-USDT	+0.0168%	8h	2,786.4	+0.095%	$288.1M	$197.3M	150x	as long as short
Hyperliquid ETH	+0.0169%	1h	2,787.9	+0.149%	$3.24B	$2.37B	25x	as long as short
Reya ETHRUSDPERP	+0.0204%	1h	2,783.6	−0.005%	$7.5M	$992K	25x	as long as short
Hibachi ETH/USDT-P	+0.0272%	1h	2,788.1	+0.158%	$275K	$1.6M	20x	as long as short