Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0092%/8h= +10.0% APRpaid last 24h +0.010%

Price spread now: KuCoin against ApeX Omni+0.126%67s7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as 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−$240.237% of the position

Long on ApeX Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 7 days−0.117%−$12 · spread now +0.126%, 7d avg −0.003%

Together, before fees−0.053%−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and KuCoin is 0.129% dearer against ApeX Omni than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.003%. The two prices were read 67 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	ApeX Omni ETHUSDT	2,731.6	−0.0023	get 0.0003% / 1h	20m 14s	$8.6M	$31.6M	100x
Short	KuCoin ETHUSDTM	2,735	0.0069	get 0.0069% / 8h	1h 20m	$374.9M	$577.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against ApeX Omni. 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 ApeX OmnibpFee KuCoinbpOrdersPrice spread, now +0.126%Rate

Funding earned: $19.24
Price spread: +0.126% → −0.003%: $12.89
Slippage, 4 orders: −$1.69
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $8.44
Costs to cover: 0.237%
Break-even: 3.9 days

Slippage from ApeX Omni: live order book, 4 min ago; KuCoin: 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 ApeX Omni live order book, 4 min ago	0.77 bp	5.8 bp −$6	5.8 bp −$58	21.9 bp −$2,185	40.8 bp −$20.4K
Sell KuCoin live order book, 9 min ago	0.02 bp	6.0 bp −$6	7.3 bp −$73	10.9 bp −$1,093	doesn't fit

ETH on 54 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	−0.0112%	43m	2,734	+0.088%	$288K	$5.8M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,734.6	+0.111%	$5K	$1K	50x	as long as short
Injective ETH/USDC PERP	−0.0040%	1h	2,727.6	−0.145%	$117K	$22.5M	52x	as long as short
ApeX Omni ETHUSDTlong	−0.0023%	1h	2,731.6	long leg	$8.6M	$31.6M	100x
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,735	+0.126%	$12.0M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,733.3	+0.063%	$813K	$3.0M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,735.4	+0.142%	$10.5M	$42.9M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,735.5	+0.144%	$6.6M	$685.7M	4.9x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,735.7	+0.152%	$262.6M	$214.2M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,735.1	+0.128%	$33.0M	—	200x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ETHUSD	+0.0016%	1h	2,735.2	+0.133%	$191K	$891K	50x	as long as short
HTX ETH-USDT	+0.0021%	8h	2,735	+0.126%	$1.05B	$1.22B	200x	as long as short
BingX ETH-USDT	+0.0025%	8h	2,734.7	+0.115%	—	$1.10B	—	as long as short
Bybit ETHUSDT	+0.0030%	8h	2,733.7	+0.077%	$2.34B	$4.43B	150x	as long as short
KuCoin ETHUSDTMshort	+0.0069%	8h	2,735	+0.126%	$374.9M	$577.0M	100x
SoDEX ETH-USD	+0.0083%	1h	2,734.6	+0.111%	$54.5M	$187.2M	40x	as long as short
Aster ETHUSDT	+0.0084%	8h	2,734.4	+0.105%	$253.0M	$849.3M	200x	as long as short
OKX ETH-USDT-SWAP	+0.0085%	8h	2,733	+0.053%	$1.65B	$10.92B	100x	as long as short
Phemex ETHUSDT	+0.0092%	8h	2,734.6	+0.109%	$263.4M	$64.6M	150x	as long as short
MEXC ETH_USDT	+0.0093%	8h	2,734.1	+0.093%	$1.54B	$2.60B	500x	as long as short
Binance ETHUSDT	+0.0094%	8h	2,734.7	+0.114%	$6.34B	$16.18B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,735.4	+0.140%	$112.6M	$436.8M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,736.5	+0.180%	$23.5M	$103.2M	50x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,732.1	+0.021%	$4.9M	$159K	20x	as long as short
SunX ETH-USDT	+0.0098%	8h	2,734.5	+0.107%	$958K	$11.0M	100x	as long as short
Aftermath Perps ETHUSD	+0.0098%	1h	2,732.7	+0.042%	$30K	$20K	20x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,735.1	+0.129%	$511K	$3.5M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,740.3	+0.318%	$15.3M	$7.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,734.9	+0.123%	$14.2M	$105.1M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,737.7	+0.224%	$3.12B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,735.8	+0.156%	$32.1M	$332.7M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,734.8	+0.118%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,735.5	+0.145%	$1.5M	$16.2M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,734.2	+0.095%	$164.8M	$347.1M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,735	+0.124%	$3.30B	$9.02B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,734.7	+0.113%	$2.09B	$2.76B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,734.1	+0.093%	$15.1M	$42.5M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,733.4	+0.067%	$134.0M	$323.6M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,731.6	0.000%	$185.7M	$682.7M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,732.6	+0.038%	$158.8M	$86.1M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,734.3	+0.100%	$21.0M	$70.5M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,736.6	+0.183%	—	$445K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,736.6	+0.184%	$11.2M	$9.5M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,734.8	+0.118%	$195K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,735.3	+0.137%	$22K	$21K	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,733.9	+0.085%	$30.4M	$73.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0056%	1h	2,734.7	+0.114%	—	$30.4M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,736.1	+0.164%	$48.6M	$4.33B	50x	as long as short
RISEx ETH/USDC	+0.0115%	1h	2,735.3	+0.138%	$5.6M	$11.6M	25x	as long as short
Orderly PERP_ETH_USDC	+0.0186%	8h	2,737.3	+0.211%	$32.2M	$11.4M	100x	as long as short
Reya ETHRUSDPERP	+0.0189%	1h	2,734.4	+0.104%	$7.3M	$1.1M	25x	as long as short
Hibachi ETH/USDT-P	+0.0208%	1h	2,733.1	+0.056%	$243K	$1.4M	20x	as long as short
Kraken Futures PF_ETHUSD	+0.0210%	1h	2,735.3	+0.138%	$82.0M	$312.5M	100x	as long as short
BloFin ETH-USDT	+0.0375%	8h	2,733.9	+0.085%	$281.6M	$175.7M	150x	as long as short