Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0231%/8h= −25.3% APRpaid last 24h −0.024%

Price spread now: HTX against Aftermath Perps−0.141%50s7-day average — · you buy dearer than you sell

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

Long on Aftermath Perps Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and HTX is 0.141% cheaper against Aftermath Perps than usual: you would sell low and buy high (−$14 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 50 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	Aftermath Perps ETHUSD	2,730.3	0.0118	pay 0.0015% / 1h	32m 25s	$30K	$20K	20x
Short	HTX ETH-USDT	2,726.5	−0.0113	pay 0.0113% / 8h	7h 32m	$1.05B	$1.21B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Aftermath Perps. 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 Aftermath PerpsbpFee HTXbpOrdersPrice spread, now −0.141%Rate

Funding earned: −$48.48
Price spread: −0.141% → 0.000%: −$14.09
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee HTX: 6 bp × 2 orders: −$12
Net: −$83.56
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Aftermath Perps: no order-book sample; HTX: 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell HTX live order book, 2 min ago	0.02 bp	6.0 bp −$6	6.0 bp −$60	8.4 bp −$843	12.4 bp −$6,198

Aftermath Perps: 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	−0.0174%	8h	2,727	−0.123%	$280.2M	$176.7M	150x	as long as short
HTX ETH-USDTshort	−0.0113%	8h	2,726.5	−0.141%	$1.05B	$1.21B	200x
Perpl ETH	−0.0112%	43m	2,726.1	−0.154%	$275K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,725.5	−0.177%	$5K	$1K	50x	as long as short
Bybit ETHUSDT	−0.0075%	8h	2,725	−0.197%	$2.31B	$4.29B	150x	as long as short
SunX ETH-USDT	−0.0024%	8h	2,726.3	−0.149%	$940K	$10.6M	100x	as long as short
Phoenix ETH	−0.0012%	1h	2,732	+0.061%	$806K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,725.3	−0.185%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,728	−0.084%	$10.5M	$41.9M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,728.4	−0.071%	$6.7M	$669.8M	4.9x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ETH-PERPETUAL	0.0000%	1h	2,728.7	−0.062%	$264.1M	$219.8M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,728.3	−0.077%	$32.9M	—	200x	as long as short
Gate ETH_USDT	+0.0016%	8h	2,724.6	−0.210%	$3.27B	$8.26B	200x	as long as short
ApeX Omni ETHUSDT	+0.0025%	1h	2,731.7	+0.048%	$8.4M	$31.2M	100x	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,725.9	−0.163%	$194K	$888K	50x	as long as short
Hibachi ETH/USDT-P	+0.0048%	1h	2,731.4	+0.039%	$237K	$1.4M	20x	as long as short
SoDEX ETH-USD	+0.0052%	1h	2,727.5	−0.104%	$54.3M	$182.4M	40x	as long as short
Aster ETHUSDT	+0.0075%	8h	2,725.3	−0.186%	$252.2M	$842.1M	200x	as long as short
OKX ETH-USDT-SWAP	+0.0076%	8h	2,725.3	−0.186%	$1.65B	$10.62B	100x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,726	−0.161%	$4.9M	$195K	20x	as long as short
KuCoin ETHUSDTM	+0.0082%	8h	2,725.3	−0.184%	$382.5M	$573.1M	100x	as long as short
Binance ETHUSDT	+0.0086%	8h	2,724.7	−0.205%	$6.30B	$15.99B	150x	as long as short
MEXC ETH_USDT	+0.0087%	8h	2,724.6	−0.210%	$1.56B	$2.56B	500x	as long as short
Bullet ETH-USD	+0.0089%	1h	2,724.8	−0.203%	$175K	$1.7M	20x	as long as short
Lighter ETH	+0.0096%	1h	2,727.1	−0.119%	$112.3M	$401.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,728.3	−0.075%	$23.7M	$96.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,727.6	−0.101%	—	$30.4M	500x	as long as short
Phemex ETHUSDT	+0.0096%	8h	2,727.8	−0.093%	$262.8M	$63.2M	150x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,726.1	−0.156%	$498K	$3.6M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,730.5	+0.006%	$15.4M	$7.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,726.6	−0.139%	$14.3M	$101.0M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,726.9	−0.126%	$3.10B	$2.03B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,727.2	−0.115%	$32.0M	$333.3M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,725.9	−0.163%	$2.7M	$16.3M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,726.3	−0.148%	$1.6M	$15.8M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,729.4	−0.035%	$164.7M	$339.6M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,725	−0.195%	$2.11B	$2.73B	150x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,724.2	−0.227%	—	$18.7M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,727.2	−0.114%	$15.1M	$39.9M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,730.8	+0.015%	$132.0M	$316.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,731	+0.024%	$185.8M	$683.1M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,731.8	+0.053%	$158.8M	$80.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,728.1	−0.082%	$20.9M	$70.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,727.6	−0.102%	—	$436K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,723.5	−0.251%	$11.2M	$9.3M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,732.9	+0.093%	$40.6M	$29.2M	15x	as long as short
Extended ETH-USD	+0.0104%	1h	2,724.8	−0.203%	$30.5M	$70.8M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0105%	1h	2,728.4	−0.071%	$81.9M	$309.0M	100x	as long as short
Aftermath Perps ETHUSDlong	+0.0118%	1h	2,730.3	long leg	$30K	$20K	20x
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,728.6	−0.065%	$45.9M	$4.22B	50x	as long as short
RISEx ETH/USDC	+0.0137%	1h	2,726.7	−0.132%	$5.7M	$11.4M	25x	as long as short
Reya ETHRUSDPERP	+0.0172%	1h	2,724	−0.231%	$7.3M	$972K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0183%	8h	2,727.3	−0.111%	$32.1M	$10.9M	100x	as long as short
Injective ETH/USDC PERP	+0.0253%	1h	2,735	+0.170%	$117K	$21.0M	52x	as long as short
Bluefin ETH-PERP	+0.1713%	1h	2,725.9	−0.162%	$20K	$23K	25x	as long as short