Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 13:00 UTC+0.0264%/8h= +28.9% APRpaid last 24h +0.020%

Price spread now: BloFin against Aevo+0.121%53s7-day average +0.058% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$450.445% of the position

Long on Aevo Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.220%+$22 on $10k

Price spread, last 4 days (all we have)−0.086%−$9 · spread now +0.121%, 7d avg +0.058%

Together, before fees+0.134%+$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and BloFin is 0.063% dearer against Aevo than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.058%. The two prices were read 53 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	Aevo ETH-PERP	2,743.7	0.0088	pay 0.0011% / 1h	23m 21s	$4.9M	$271K	20x
Short	BloFin ETH-USDT	2,747	0.0352	get 0.0352% / 8h	3h 23m	$285.3M	$141.0M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Aevo. 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 AevobpFee BloFinbpOrdersPrice spread, now +0.121%Rate

Funding earned: $55.43
Price spread: +0.121% → +0.058%: $6.29
Slippage, 4 orders: −$16.55
Fee Aevo: 8 bp × 2 orders: −$16
Fee BloFin: 6 bp × 2 orders: −$12
Net: $17.18
Costs to cover: 0.445%
Break-even: 4.8 days

Slippage from Aevo: live order book, 4 min ago; BloFin: live order book, 9 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 Aevo live order book, 4 min ago	4.06 bp	12.1 bp −$12	28.5 bp −$285	52.3 bp −$5,231	doesn't fit
Sell BloFin live order book, 9 min ago	0.04 bp	6.0 bp −$6	6.0 bp −$60	6.6 bp −$655	8.6 bp −$4,321

ETH on 54 exchanges

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
Hibachi ETH/USDT-P	−0.0136%	1h	2,750.8	+0.258%	$231K	$1.1M	20x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0009% / S +0.0043%	1h	2,747.3	+0.131%	$12.2M	—	200x	as long as short
Phoenix ETH	−0.0009%	1h	2,748.3	+0.167%	$815K	$2.8M	25x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,747	+0.119%	$7.3M	$654.3M	4.9x	as long as short
Perpl ETH	0.0000%	43m	2,746.8	+0.112%	$277K	$4.8M	8.3x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,747.5	+0.139%	$33.2M	—	200x	as long as short
01 Exchange ETHUSD	+0.0016%	1h	2,747.7	+0.145%	$181K	$921K	50x	as long as short
Injective ETH/USDC PERP	+0.0033%	1h	2,739.7	−0.147%	$118K	$21.5M	52x	as long as short
Deribit ETH-PERPETUAL	+0.0038%	1h	2,747.4	+0.133%	$267.6M	$175.7M	50x	as long as short
Bybit ETHUSDT	+0.0051%	8h	2,747.9	+0.153%	$2.37B	$3.70B	150x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex ETHUSDT	+0.0061%	8h	2,746	+0.083%	$263.1M	$55.7M	150x	as long as short
dYdX ETH-USD	+0.0080%	1h	2,747.1	+0.122%	$15.2M	$41.1M	50x	as long as short
OKX ETH-USDT-SWAP	+0.0081%	8h	2,747.8	+0.148%	$1.67B	$8.82B	100x	as long as short
Binance ETHUSDT	+0.0088%	8h	2,747	+0.119%	$6.43B	$13.26B	150x	as long as short
MEXC ETH_USDT	+0.0088%	8h	2,746.7	+0.107%	$1.66B	$2.32B	500x	as long as short
Aevo ETH-PERPlong	+0.0088%	1h	2,743.7	long leg	$4.9M	$271K	20x
KuCoin ETHUSDTM	+0.0091%	8h	2,746.8	+0.110%	$367.0M	$418.8M	100x	as long as short
HTX ETH-USDT	+0.0092%	8h	2,745.5	+0.064%	$1.05B	$933.8M	200x	as long as short
Lighter ETH	+0.0096%	1h	2,747.7	+0.145%	$113.0M	$379.8M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,748.8	+0.183%	$23.8M	$91.2M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,747.5	+0.138%	—	$23.2M	500x	as long as short
Bitget ETHUSDT	+0.0099%	8h	2,746.8	+0.113%	$2.11B	$2.22B	150x	as long as short
BingX ETH-USDC	+0.0099%	8h	2,746.4	+0.099%	—	$18.4M	—	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,746.5	+0.101%	$464K	$3.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,746	+0.084%	$14.1M	$92.2M	50x	as long as short
Aster ETHUSDT	+0.0100%	8h	2,746.9	+0.114%	$253.0M	$678.0M	200x	as long as short
Pacifica ETH	+0.0100%	1h	2,748.2	+0.163%	$32.1M	$319.1M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,746.8	+0.112%	$2.8M	$14.1M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,748.1	+0.161%	$1.5M	$14.2M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,747.2	+0.128%	$3.27B	$7.48B	200x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,746.6	+0.106%	$15.0M	$34.0M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,749.4	+0.207%	$136.8M	$270.7M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,748.1	+0.160%	$184.9M	$543.5M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,748	+0.156%	$159.7M	$69.7M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,750.7	+0.253%	$8.2M	$24.1M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,747.5	+0.138%	$21.1M	$81.3M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,748.2	+0.161%	—	$320K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,748.4	+0.170%	$11.2M	$8.6M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,746.8	+0.112%	$179K	$1.6M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,747.9	+0.153%	$21K	$8K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,747.5	+0.136%	$40.8M	$23.1M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,746.5	+0.103%	$947K	$7.6M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,746.1	+0.087%	$61.8M	$121.6M	40x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,746.1	+0.088%	$166.7M	$315.8M	25x	as long as short
Aftermath Perps ETHUSD	+0.0102%	1h	2,747.4	+0.134%	$30K	$8K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,746.3	+0.095%	$30.3M	$61.1M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,747.6	+0.142%	$48.7M	$3.85B	50x	as long as short
Hyperliquid ETH	+0.0127%	1h	2,750	+0.230%	$3.16B	$1.59B	25x	as long as short
Reya ETHRUSDPERP	+0.0130%	1h	2,745.9	+0.079%	$7.3M	$857K	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0156%	1h	2,747.1	+0.122%	$82.6M	$253.5M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0195%	8h	2,749.7	+0.219%	$32.5M	$9.5M	100x	as long as short
RISEx ETH/USDC	+0.0279%	1h	2,748.1	+0.161%	$5.7M	$10.5M	25x	as long as short
Paradex ETH-USD-PERP	+0.0345%	8h	2,750.3	+0.241%	$15.9M	$5.9M	50x	as long as short
BloFin ETH-USDTshort	+0.0352%	8h	2,747	+0.121%	$285.3M	$141.0M	150x