Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0024%/8h= −2.6% APRpaid last 24h −0.006%

Price spread now: MEXC against Vest+0.109%49s7-day average −0.035% · you sell dearer than you buy

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

Long on Vest Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.007%−$1 on $10k

Price spread, last 4 days (all we have)−0.595%−$59 · spread now +0.109%, 7d avg −0.035%

Together, before fees−0.602%+ Points / potential airdropVest: Active · farm board−$60 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.144% dearer against Vest than usual: you sell high and buy low (spread +0.109% now, against its 7-day average of −0.035%): +$14 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 20 days. At the pace of the last 4 days (−0.007% in total) that is about 2 months. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest ETH-PERP	2,733.7	0.0100	pay 0.0013% / 1h	22m 38s	—	$436K	50x
Short	MEXC ETH_USDT	2,736.6	0.0076	get 0.0076% / 8h	7h 22m	$1.57B	$2.58B	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Vest. 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 VestbpFee MEXCbpOrdersPrice spread, now +0.109%Rate

Funding earned: −$5.04
Price spread: +0.109% → −0.035%: $14.42
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee MEXC: 1 bp × 2 orders: −$2
Net: $5.38
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; MEXC: 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 Vest no order-book sample	—	—	—	—	—
Sell MEXC live order book, 2 min ago	0.02 bp	1.0 bp −$1	1.0 bp −$10	1.0 bp −$102	2.8 bp −$1,395

Vest: 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 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
BloFin ETH-USDT	−0.0154%	8h	2,735	+0.050%	$282.6M	$176.7M	150x	as long as short
Perpl ETH	−0.0112%	43m	2,734	+0.011%	$275K	$5.5M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,731	−0.097%	$5K	$1K	50x	as long as short
HTX ETH-USDT	−0.0064%	8h	2,734.9	+0.046%	$1.05B	$1.19B	200x	as long as short
Bybit ETHUSDT	−0.0061%	8h	2,736.2	+0.093%	$2.32B	$4.25B	150x	as long as short
Phemex ETHUSDT	−0.0048%	8h	2,734.3	+0.024%	$263.3M	$62.5M	150x	as long as short
SunX ETH-USDT	−0.0019%	8h	2,734.4	+0.026%	$942K	$10.4M	100x	as long as short
ApeX Omni ETHUSDT	−0.0015%	1h	2,724.3	−0.344%	$8.3M	$31.0M	100x	as long as short
Phoenix ETH	−0.0012%	1h	2,724.7	−0.328%	$806K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,734.8	+0.042%	$11.9M	—	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX ETH-USD	0.0000%	1h	2,737	+0.123%	$10.6M	$41.8M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,732.8	−0.031%	$6.6M	$667.3M	4.9x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,734.6	+0.033%	$33.0M	—	200x	as long as short
Hibachi ETH/USDT-P	+0.0016%	1h	2,729.5	−0.153%	$237K	$1.4M	20x	as long as short
01 Exchange ETHUSD	+0.0024%	1h	2,732.5	−0.042%	$195K	$882K	50x	as long as short
Deribit ETH-PERPETUAL	+0.0032%	1h	2,736	+0.087%	$266.0M	$220.3M	50x	as long as short
SoDEX ETH-USD	+0.0048%	1h	2,735	+0.049%	$54.5M	$182.3M	40x	as long as short
Gate ETH_USDT	+0.0058%	8h	2,736.9	+0.119%	$3.28B	$8.31B	200x	as long as short
Aster ETHUSDT	+0.0068%	8h	2,737.1	+0.126%	$253.4M	$836.4M	200x	as long as short
OKX ETH-USDT-SWAP	+0.0075%	8h	2,736.7	+0.110%	$1.66B	$10.49B	100x	as long as short
MEXC ETH_USDTshort	+0.0076%	8h	2,736.6	+0.109%	$1.57B	$2.58B	500x
Binance ETHUSDT	+0.0079%	8h	2,737.1	+0.125%	$6.33B	$15.83B	150x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,733.6	−0.001%	$4.9M	$190K	20x	as long as short
Bullet ETH-USD	+0.0082%	1h	2,734.2	+0.019%	$177K	$1.7M	20x	as long as short
KuCoin ETHUSDTM	+0.0083%	8h	2,736.5	+0.103%	$383.8M	$559.6M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,737.9	+0.155%	$113.0M	$403.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,738.2	+0.166%	$23.7M	$96.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,732.4	−0.045%	—	$30.3M	500x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,736.4	+0.100%	$499K	$3.6M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,740.7	+0.256%	$15.4M	$6.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,732.3	−0.051%	$14.2M	$100.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,738.6	+0.181%	$3.12B	$1.95B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,737.3	+0.134%	$32.1M	$331.2M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,736.6	+0.108%	$2.7M	$16.4M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,737	+0.123%	$1.6M	$15.6M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,720.7	−0.475%	$164.6M	$337.2M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,736.5	+0.103%	$2.12B	$2.68B	150x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,736.2	+0.094%	—	$1.03B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,734.3	+0.024%	$15.1M	$38.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,722.3	−0.417%	$131.5M	$313.5M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,724.4	−0.340%	$185.4M	$682.5M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,725	−0.315%	$158.5M	$81.3M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,728.6	−0.185%	$20.9M	$70.9M	40x	as long as short
Vest ETH-PERPlong	+0.0100%	1h	2,733.7	long leg	—	$436K	50x
Polymarket Perps ETH-USD	+0.0100%	1h	2,733.4	−0.009%	$11.2M	$9.3M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,724.3	−0.342%	$40.5M	$29.1M	15x	as long as short
Extended ETH-USD	+0.0104%	1h	2,735.7	+0.075%	$30.3M	$70.4M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0105%	1h	2,735.9	+0.081%	$82.1M	$307.6M	100x	as long as short
Aftermath Perps ETHUSD	+0.0110%	1h	2,727.6	−0.221%	$30K	$20K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,736.5	+0.103%	$45.9M	$4.19B	50x	as long as short
RISEx ETH/USDC	+0.0137%	1h	2,737.2	+0.131%	$5.6M	$11.4M	25x	as long as short
Reya ETHRUSDPERP	+0.0170%	1h	2,732.6	−0.039%	$7.3M	$961K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0181%	8h	2,736.9	+0.118%	$32.3M	$10.8M	100x	as long as short
Injective ETH/USDC PERP	+0.0253%	1h	2,732.5	−0.042%	$117K	$22.1M	52x	as long as short
Bluefin ETH-PERP	+0.1166%	1h	2,734.7	+0.037%	$20K	$23K	25x	as long as short