Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0021%/8h= −2.3% APRpaid last 24h +0.042%

Price spread now: Hibachi against Aster+0.069%7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$190.193% of the position

Long on Aster Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.243%−$24 on $10k

Price spread, last 7 days−0.036%−$4 · spread now +0.069%, 7d avg +0.023%

Together, before fees−0.279%+ Points / potential airdropAster: Stage 5 · Hibachi: Active · farm board−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hibachi is 0.045% dearer against Aster than usual: you sell high and buy low (spread +0.069% now, against its 7-day average of +0.023%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.3 days. At the pace of the last 7 days (−0.243% in total) that is about 31 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ETHUSDT	2,731	0.0077	pay 0.0077% / 8h	7h 35m	$252.7M	$846.3M	200x
Short	Hibachi ETH/USDT-P	2,732.9	0.0056	get 0.0007% / 1h	35m 36s	$237K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against Aster. 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 AsterbpFee HibachibpOrdersPrice spread, now +0.069%Rate

Funding earned: −$4.33
Price spread: +0.069% → +0.023%: $4.55
Slippage, 4 orders: −$2.33
Fee Aster: 4 bp × 2 orders: −$8
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$19.12
Costs to cover: 0.193%
Break-even: never at this rate

Slippage from Aster: live order book, 4 min ago; Hibachi: 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 Aster live order book, 4 min ago	0.02 bp	4.0 bp −$4	4.7 bp −$47	5.9 bp −$588	11.3 bp −$5,650
Sell Hibachi live order book, 3 min ago	0.02 bp	5.5 bp −$5	9.3 bp −$93	doesn't fit	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
BloFin ETH-USDT	−0.0178%	8h	2,732	+0.034%	$280.8M	$177.6M	150x	as long as short
Perpl ETH	−0.0112%	43m	2,731	0.000%	$277K	$5.7M	8.3x	as long as short
HTX ETH-USDT	−0.0095%	8h	2,730.8	−0.007%	$1.05B	$1.21B	200x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,732	+0.036%	$5K	$1K	50x	as long as short
Bybit ETHUSDT	−0.0054%	8h	2,731	0.000%	$2.32B	$4.29B	150x	as long as short
Phemex ETHUSDT	−0.0050%	8h	2,731.4	+0.013%	$263.2M	$63.3M	150x	as long as short
Phoenix ETH	−0.0012%	1h	2,731.8	+0.029%	$806K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,731.3	+0.010%	$11.9M	—	200x	as long as short
SunX ETH-USDT	0.0000%	8h	2,731.2	+0.005%	$942K	$10.7M	100x	as long as short
dYdX ETH-USD	0.0000%	1h	2,731.1	+0.002%	$10.6M	$41.9M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXETHPERP	0.0000%	8h	2,731.4	+0.014%	$6.7M	$670.6M	4.9x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,732.3	+0.046%	$264.6M	$219.3M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,731.3	+0.009%	$33.0M	—	200x	as long as short
ApeX Omni ETHUSDT	+0.0028%	1h	2,731.3	+0.009%	$8.4M	$31.2M	100x	as long as short
Gate ETH_USDT	+0.0034%	8h	2,731.6	+0.021%	$3.28B	$8.25B	200x	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,732.7	+0.062%	$191K	$885K	50x	as long as short
SoDEX ETH-USD	+0.0049%	1h	2,731.4	+0.014%	$54.4M	$182.5M	40x	as long as short
Hibachi ETH/USDT-Pshort	+0.0056%	1h	2,732.9	+0.069%	$237K	$1.4M	20x
OKX ETH-USDT-SWAP	+0.0077%	8h	2,731.3	+0.010%	$1.66B	$10.67B	100x	as long as short
Aster ETHUSDTlong	+0.0077%	8h	2,731	long leg	$252.7M	$846.3M	200x
KuCoin ETHUSDTM	+0.0083%	8h	2,731.2	+0.008%	$383.5M	$575.0M	100x	as long as short
Binance ETHUSDT	+0.0088%	8h	2,731.2	+0.007%	$6.32B	$16.01B	150x	as long as short
MEXC ETH_USDT	+0.0088%	8h	2,731.2	+0.007%	$1.57B	$2.55B	500x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,729	−0.074%	$4.9M	$195K	20x	as long as short
Bullet ETH-USD	+0.0091%	1h	2,730.3	−0.027%	$176K	$1.7M	20x	as long as short
Lighter ETH	+0.0096%	1h	2,731.9	+0.031%	$112.6M	$401.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,733.1	+0.076%	$23.7M	$96.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,731.4	+0.014%	—	$30.4M	500x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,731.6	+0.021%	$498K	$3.5M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,734.6	+0.130%	$15.4M	$7.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,730.4	−0.024%	$14.3M	$100.9M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,733.8	+0.102%	$3.11B	$2.03B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,732.4	+0.050%	$32.1M	$333.3M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,731.4	+0.014%	$2.7M	$16.4M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,730.9	−0.003%	$1.6M	$15.8M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,729.4	−0.060%	$164.7M	$339.6M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,732.1	+0.040%	$2.11B	$2.74B	150x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,731.7	+0.025%	—	$1.05B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,731.8	+0.028%	$15.2M	$39.9M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,730.8	−0.009%	$132.0M	$316.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,730.3	−0.027%	$185.8M	$682.5M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,731	−0.002%	$158.8M	$79.8M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,731.6	+0.021%	$21.0M	$70.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,732.3	+0.046%	—	$441K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,731.2	+0.007%	$11.2M	$9.3M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,732.9	+0.068%	$40.6M	$29.2M	15x	as long as short
Extended ETH-USD	+0.0104%	1h	2,731	+0.001%	$30.5M	$71.0M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0105%	1h	2,732.3	+0.048%	$82.0M	$309.4M	100x	as long as short
Aftermath Perps ETHUSD	+0.0119%	1h	2,731.5	+0.017%	$30K	$20K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,732.5	+0.054%	$46.1M	$4.24B	50x	as long as short
RISEx ETH/USDC	+0.0137%	1h	2,732.9	+0.069%	$5.7M	$11.4M	25x	as long as short
Reya ETHRUSDPERP	+0.0173%	1h	2,730.9	−0.003%	$7.3M	$972K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0185%	8h	2,733.3	+0.083%	$32.2M	$11.1M	100x	as long as short
Injective ETH/USDC PERP	+0.0253%	1h	2,736.9	+0.215%	$117K	$21.0M	52x	as long as short
Bluefin ETH-PERP	+0.2084%	1h	2,731.7	+0.024%	$20K	$23K	25x	as long as short