Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.018%

Price spread now: Bluefin against Arcus−0.009%7-day average — · you buy dearer than you sell

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

Long on Arcus Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 3 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

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus ETH-USD	2,771	0.0100	pay 0.0013% / 1h	29m 42s	$2.8M	$16.9M	25x
Short	Bluefin ETH-PERP	2,770.8	0.0100	get 0.0013% / 1h	29m 42s	$21K	$22K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against Arcus. 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 ArcusbpFee BluefinbpOrdersPrice spread, now −0.009%Rate

Funding earned: $0
Price spread: −0.009% → 0.000%: −$0.87
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$12.37
Costs to cover: 0.115%
Break-even: never at this rate

Slippage unknown: Arcus: live order book, 4 min ago; Bluefin: no order-book sample. 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 Arcus live order book, 4 min ago	0.29 bp	2.9 bp −$3	3.4 bp −$34	13.6 bp −$1,361	doesn't fit
Sell Bluefin no order-book sample	—	—	—	—	—

Bluefin: 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
Injective ETH/USDC PERP	−0.0752%	1h	2,772.9	+0.069%	$119K	$22.5M	52x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,770.3	−0.026%	$5.6M	$11.1M	25x	as long as short
Perpl ETH	−0.0112%	43m	2,769.8	−0.043%	$320K	$6.4M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,770.2	−0.029%	$5K	$1K	50x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,770.2	−0.029%	$168K	$1.1M	50x	as long as short
Phoenix ETH	−0.0003%	1h	2,771.1	+0.004%	$878K	$3.7M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,770.4	−0.021%	$12.2M	$45.9M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,770.6	−0.014%	$22.4M	—	200x	as long as short
Bullet ETH-USD	+0.0022%	1h	2,769.7	−0.045%	$184K	$1.7M	20x	as long as short
OKX ETH-USDT-SWAP	+0.0025%	8h	2,770	−0.034%	$1.71B	$11.17B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX ETH/USD [ETH-USDC]	L +0.0025% / S +0.0009%	1h	2,770.5	−0.018%	$12.7M	—	200x	as long as short
Phemex ETHUSDT	+0.0026%	8h	2,770.2	−0.029%	$269.6M	$67.5M	150x	as long as short
SoDEX ETH-USD	+0.0033%	1h	2,770	−0.036%	$55.2M	$188.0M	40x	as long as short
Aster ETHUSDT	+0.0041%	8h	2,770.3	−0.024%	$256.7M	$886.1M	200x	as long as short
MEXC ETH_USDT	+0.0054%	8h	2,769.6	−0.051%	$1.62B	$2.63B	500x	as long as short
Binance ETHUSDT	+0.0055%	8h	2,769.9	−0.038%	$6.48B	$16.35B	150x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,767.4	−0.130%	$5.0M	$165K	20x	as long as short
Aftermath Perps ETHUSD	+0.0066%	1h	2,771.4	+0.016%	$31K	$23K	20x	as long as short
Gate ETH_USDT	+0.0070%	8h	2,770.2	−0.029%	$3.36B	$9.00B	200x	as long as short
Bitget ETHUSDT	+0.0072%	8h	2,770.2	−0.028%	$2.10B	$2.87B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,771.8	+0.028%	$60.4M	$4.44B	50x	as long as short
Vest ETH-PERP	+0.0082%	1h	2,770.1	−0.034%	—	$876K	50x	as long as short
KuCoin ETHUSDTM	+0.0083%	8h	2,770.8	−0.007%	$420.3M	$628.7M	100x	as long as short
HTX ETH-USDT	+0.0084%	8h	2,769.8	−0.043%	$1.08B	$1.25B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,770.4	−0.023%	$115.2M	$457.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,772.2	+0.042%	$25.7M	$111.4M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,771.7	+0.027%	$15.9M	$8.7M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,770.2	−0.029%	$485K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,770.1	−0.034%	$14.7M	$114.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,773	+0.073%	$3.17B	$2.24B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,770.7	−0.009%	$31.2M	$325.2M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,769.9	−0.038%	$2.51B	$4.37B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,769.8	−0.043%	$2.8M	$16.8M	25x	as long as short
Arcus ETH-USDlong	+0.0100%	1h	2,771	long leg	$2.8M	$16.9M	25x
Bulk ETH-USD	+0.0100%	1h	2,769.8	−0.042%	$171.6M	$277.9M	25x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,769.8	−0.044%	—	$17.3M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,772	+0.038%	$15.2M	$42.0M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,770.6	−0.015%	$140.2M	$345.2M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,770.3	−0.025%	$181.9M	$787.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,770.9	−0.003%	$161.1M	$84.5M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,771	0.000%	$8.7M	$32.2M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,768.5	−0.090%	$21.4M	$62.9M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,769.4	−0.057%	$10.6M	$7.9M	50x	as long as short
Bluefin ETH-PERPshort	+0.0100%	1h	2,770.8	−0.009%	$21K	$22K	25x
Derive ETH-PERP	+0.0100%	1h	2,772.2	+0.044%	$42.6M	$28.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,769.3	−0.060%	$971K	$13.2M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,769.8	−0.045%	$31.0M	$74.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,770.1	−0.033%	—	$37.0M	500x	as long as short
Deribit ETH-PERPETUAL	+0.0111%	1h	2,771.6	+0.023%	$259.1M	$207.0M	50x	as long as short
Kalshi KXETHPERP	+0.0111%	8h	2,770.8	−0.007%	$8.0M	$682.3M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,771.9	+0.034%	$96.0M	$319.4M	100x	as long as short
Hibachi ETH/USDT-P	+0.0144%	1h	2,772.4	+0.052%	$253K	$1.5M	20x	as long as short
Orderly PERP_ETH_USDC	+0.0150%	8h	2,772.9	+0.067%	$32.6M	$11.2M	100x	as long as short
BloFin ETH-USDT	+0.0174%	8h	2,770.4	−0.023%	$287.6M	$182.0M	150x	as long as short
Reya ETHRUSDPERP	+0.0211%	1h	2,769.2	−0.064%	$7.3M	$1.2M	25x	as long as short