Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0123%/8h= +13.5% APRpaid last 24h +0.004%

Price spread now: KuCoin against 01 Exchange+0.002%7-day average −0.024% · 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−$21as in the Price arb table

costs, in and out, $10k−$240.238% of the position

Long on 01 Exchange Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.017%−$2 · spread now +0.002%, 7d avg −0.024%

Together, before fees−0.015%−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and KuCoin is 0.026% dearer against 01 Exchange than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange ETHUSD	2,782.8	−0.0032	get 0.0004% / 1h	56m 02s	$169K	$1.2M	50x
Short	KuCoin ETHUSDTM	2,782.9	0.0091	get 0.0091% / 8h	56m 02s	$424.1M	$739.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against 01 Exchange. 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 01 ExchangebpFee KuCoinbpOrdersPrice spread, now +0.002%Rate

Funding earned: $25.83
Price spread: +0.002% → −0.024%: $2.63
Slippage, 4 orders: −$4.79
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $4.67
Costs to cover: 0.238%
Break-even: 5.7 days

Slippage from 01 Exchange: live order book, 3 min ago; KuCoin: live order book, 3 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 01 Exchange live order book, 3 min ago	0.18 bp	6.0 bp −$6	11.8 bp −$118	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	0.02 bp	6.0 bp −$6	6.9 bp −$69	9.6 bp −$959	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	2,782.6	−0.006%	$288K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0206%	1h	2,782.3	−0.017%	$5.7M	$11.9M	25x	as long as short
Injective ETH/USDC PERP	−0.0088%	1h	2,777.7	−0.183%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,781.7	−0.040%	$5K	$2K	50x	as long as short
01 Exchange ETHUSDlong	−0.0032%	1h	2,782.8	long leg	$169K	$1.2M	50x
Aftermath Perps ETHUSD	−0.0001%	1h	2,778.6	−0.153%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,782.7	−0.004%	$12.8M	$45.8M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,778.7	−0.147%	$881K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,783.7	+0.032%	$22.5M	—	200x	as long as short
BingX ETH-USDC	+0.0014%	8h	2,782.7	−0.003%	—	$17.4M	—	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	+0.0019%	8h	2,783.4	+0.020%	$1.70B	$11.91B	100x	as long as short
Phemex ETHUSDT	+0.0020%	8h	2,783.3	+0.016%	$271.1M	$68.8M	150x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0026% / S +0.0009%	1h	2,783.6	+0.028%	$12.9M	—	200x	as long as short
Bullet ETH-USD	+0.0027%	1h	2,782.9	+0.004%	$182K	$1.7M	20x	as long as short
Aster ETHUSDT	+0.0034%	8h	2,783.2	+0.013%	$255.1M	$998.2M	200x	as long as short
ApeX Omni ETHUSDT	+0.0049%	1h	2,776.4	−0.232%	$8.8M	$32.7M	100x	as long as short
Nado ETH-PERP	+0.0051%	1h	2,782.9	+0.004%	$14.3M	$118.2M	50x	as long as short
MEXC ETH_USDT	+0.0060%	8h	2,783.2	+0.013%	$1.60B	$2.62B	500x	as long as short
Binance ETHUSDT	+0.0062%	8h	2,783.7	+0.033%	$6.46B	$17.24B	150x	as long as short
Bitget ETHUSDT	+0.0064%	8h	2,783.1	+0.011%	$2.11B	$3.10B	150x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,781.8	−0.037%	$5.0M	$636K	20x	as long as short
Gate ETH_USDT	+0.0071%	8h	2,783.9	+0.038%	$3.31B	$9.56B	200x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,785.4	+0.094%	$60.3M	$4.62B	50x	as long as short
HTX ETH-USDT	+0.0088%	8h	2,783	+0.006%	$1.08B	$1.32B	200x	as long as short
Bybit ETHUSDT	+0.0090%	8h	2,783.5	+0.026%	$2.52B	$4.62B	150x	as long as short
KuCoin ETHUSDTMshort	+0.0091%	8h	2,782.9	+0.002%	$424.1M	$739.3M	100x
Vest ETH-PERP	+0.0095%	1h	2,782.6	−0.007%	—	$1.1M	50x	as long as short
Lighter ETH	+0.0096%	1h	2,784.3	+0.054%	$116.4M	$494.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,785.3	+0.090%	$25.4M	$120.5M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0098%	1h	2,785.4	+0.095%	$258.8M	$222.8M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,782.1	−0.026%	$16.0M	$10.5M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,782.7	−0.004%	$478K	$2.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,785.8	+0.108%	$3.20B	$2.35B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,782.6	−0.007%	$31.3M	$306.5M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,781.6	−0.043%	$2.8M	$17.2M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,783.6	+0.030%	$2.7M	$17.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,777.9	−0.175%	$168.1M	$250.4M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,783.3	+0.019%	$15.1M	$44.0M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,775.9	−0.247%	$147.5M	$336.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,776.8	−0.214%	$181.7M	$779.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,776.9	−0.212%	$161.5M	$90.7M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,780.4	−0.086%	$21.5M	$58.2M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,783.9	+0.040%	$10.8M	$7.6M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,784.2	+0.051%	$21K	$24K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,786	+0.114%	$42.9M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,782.4	−0.016%	$976K	$13.9M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,783.9	+0.040%	$55.4M	$229.0M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,782.2	−0.022%	$32.7M	$77.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,783.5	+0.024%	—	$41.8M	500x	as long as short
Kraken Futures PF_ETHUSD	+0.0122%	1h	2,785.1	+0.082%	$86.8M	$332.6M	100x	as long as short
Kalshi KXETHPERP	+0.0124%	8h	2,782.6	−0.007%	$8.4M	$681.6M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0135%	8h	2,786.3	+0.125%	$32.7M	$12.0M	100x	as long as short
BloFin ETH-USDT	+0.0181%	8h	2,780.3	−0.088%	$285.2M	$195.1M	150x	as long as short
Reya ETHRUSDPERP	+0.0197%	1h	2,782.7	−0.004%	$7.4M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0296%	1h	2,781.9	−0.033%	$271K	$1.5M	20x	as long as short