Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.007%

Price spread now: Aevo against Variational Omni+0.194%7-day average −0.058% · you sell dearer than you buy

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

Long on Variational Omni Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.017%−$2 on $10k

Price spread, last 4 days (all we have)−0.560%−$56 · spread now +0.194%, 7d avg −0.058%

Together, before fees−0.577%+ Points / potential airdropVariational Omni: Active · farm board−$58 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aevo is 0.252% dearer against Variational Omni than usual: you sell high and buy low, +$25 on $10k if it goes back to its 7-day average of −0.058%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ETH	2,740	0.0100	pay 0.0100% / 8h	5h 22m	$132.7M	$328.0M	—
Short	Aevo ETH-PERP	2,745.3	0.0096	get 0.0012% / 1h	22m 18s	$4.9M	$154K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee AevobpOrdersPrice spread, now +0.194%Rate

Funding earned: −$0.84
Price spread: +0.194% → −0.058%: $25.17
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Aevo: 8 bp × 2 orders: −$16
Net: $8.33
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Aevo: live order book, 2 min ago. 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 Variational Omni RFQ quote, 2 min ago	0.55 bp	doesn't fit	0.5 bp −$5	1.9 bp −$186	doesn't fit
Sell Aevo live order book, 2 min ago	4.98 bp	21.4 bp −$21	31.1 bp −$311	46.2 bp −$4,625	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
Hotstuff ETH-PERP	−0.0080%	1h	2,744.9	+0.179%	$5K	$1K	50x	as long as short
Injective ETH/USDC PERP	−0.0044%	1h	2,742.7	+0.099%	$118K	$22.5M	52x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0009% / S +0.0043%	1h	2,747.9	+0.290%	$12.1M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,746	+0.217%	$10.8M	$41.7M	50x	as long as short
Perpl ETH	0.0000%	43m	2,747.1	+0.261%	$305K	$5.6M	8.3x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,748	+0.293%	$25.0M	—	200x	as long as short
Phoenix ETH	+0.0017%	1h	2,742.3	+0.084%	$847K	$2.9M	25x	as long as short
01 Exchange ETHUSD	+0.0032%	1h	2,747.9	+0.289%	$182K	$863K	50x	as long as short
ApeX Omni ETHUSDT	+0.0034%	1h	2,742.2	+0.081%	$8.8M	$30.8M	100x	as long as short
BingX ETH-USDC	+0.0051%	8h	2,748.3	+0.302%	—	$18.4M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0066%	8h	2,746.1	+0.224%	$1.71B	$10.56B	100x	as long as short
KuCoin ETHUSDTM	+0.0069%	8h	2,748	+0.291%	$382.6M	$577.8M	100x	as long as short
Bullet ETH-USD	+0.0075%	1h	2,747.5	+0.274%	$183K	$1.7M	20x	as long as short
RISEx ETH/USDC	+0.0077%	1h	2,747.9	+0.289%	$5.6M	$11.4M	25x	as long as short
Aster ETHUSDT	+0.0087%	8h	2,747.3	+0.266%	$253.5M	$841.5M	200x	as long as short
MEXC ETH_USDT	+0.0094%	8h	2,747.3	+0.265%	$1.55B	$2.55B	500x	as long as short
Binance ETHUSDT	+0.0095%	8h	2,747.7	+0.282%	$6.39B	$15.66B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,747.8	+0.284%	$112.9M	$434.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,748	+0.290%	$24.6M	$104.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,745.4	+0.196%	—	$30.5M	500x	as long as short
Aevo ETH-PERPshort	+0.0096%	1h	2,745.3	+0.194%	$4.9M	$154K	20x
Coinbase International ETH-PERP-INTX	+0.0096%	1h	2,749.4	+0.343%	$58.4M	$4.26B	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,751.3	+0.411%	$16.0M	$7.9M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,747.2	+0.263%	$471K	$3.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,747.5	+0.274%	$13.9M	$105.1M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,750.1	+0.369%	$3.12B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,747.6	+0.278%	$31.7M	$334.4M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,746.6	+0.240%	$2.45B	$4.17B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,745	+0.183%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,747.8	+0.285%	$2.7M	$16.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,742.3	+0.084%	$165.2M	$299.1M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,747.8	+0.286%	$3.39B	$8.75B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,747.9	+0.290%	$2.09B	$2.72B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,744.3	+0.157%	$15.0M	$39.8M	50x	as long as short
Variational Omni ETHlong	+0.0100%	8h	2,740	long leg	$132.7M	$328.0M	—
edgeX ETHUSDC	+0.0100%	4h	2,741	+0.037%	$182.2M	$672.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,738.9	−0.038%	$159.3M	$84.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,745.1	+0.186%	$21.2M	$67.7M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,747.8	+0.286%	—	$815K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,748.7	+0.318%	$11.0M	$8.8M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,749.5	+0.345%	$41.6M	$29.7M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,747.1	+0.258%	$963K	$11.5M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,747.5	+0.274%	$54.7M	$187.5M	40x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,746.9	+0.252%	$1.06B	$1.18B	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,747.7	+0.279%	$267.2M	$64.8M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,747	+0.257%	$30.6M	$71.9M	50x	as long as short
Aftermath Perps ETHUSD	+0.0126%	1h	2,744.1	+0.150%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0160%	8h	2,747.1	+0.259%	$7.5M	$669.6M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0192%	8h	2,750.4	+0.379%	$32.3M	$11.4M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0221%	1h	2,748.5	+0.312%	$86.8M	$310.1M	100x	as long as short
Reya ETHRUSDPERP	+0.0228%	1h	2,747.2	+0.265%	$7.3M	$1.1M	25x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,746	+0.220%	$252K	$1.4M	20x	as long as short
Deribit ETH-PERPETUAL	+0.0252%	1h	2,749.4	+0.343%	$259.8M	$196.7M	50x	as long as short
Bluefin ETH-PERP	+0.0275%	1h	2,748.3	+0.303%	$21K	$20K	25x	as long as short
BloFin ETH-USDT	+0.0346%	8h	2,744.6	+0.169%	$285.8M	$181.2M	150x	as long as short