Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0143%/8h= +15.7% APRpaid last 24h +0.023%

Price spread now: Reya against Aster−0.068%7-day average −0.033% · you buy dearer than you sell

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

Long on Aster Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.057%+$6 on $10k

Price spread, last 7 days+0.038%+$4 · spread now −0.068%, 7d avg −0.033%

Together, before fees+0.095%+ Points / potential airdropAster: Stage 5 · Reya: Active · farm board+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. Reya is 0.035% cheaper against Aster than usual: you would sell low and buy high (spread −0.068% now, against its 7-day average of −0.033%). If the spread goes back, that is −$4 on $10k: about 20 hours of funding at the current rate (+$4 a day). At the pace of the last 3 days (+0.057% in total) that is about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ETHUSDT	2,730.8	0.0079	pay 0.0079% / 8h	4h 41m	$251.5M	$844.3M	200x
Short	Reya ETHRUSDPERP	2,728.9	0.0222	get 0.0028% / 1h	41m 26s	$7.3M	$1.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.068%Rate

Funding earned: $30.12
Price spread: −0.068% → −0.033%: −$3.55
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: $12.58
Costs to cover: 0.140%
Break-even: 4.1 days

Slippage unknown: Aster: live order book, 3 min ago; Reya: 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 Aster live order book, 3 min ago	0.02 bp	4.0 bp −$4	4.0 bp −$40	4.7 bp −$466	11.0 bp −$5,477
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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
Perpl ETH	−0.0447%	43m	2,729.8	−0.037%	$298K	$5.6M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,728.7	−0.077%	$117K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,729.9	−0.033%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,730.6	−0.008%	$11.9M	—	200x	as long as short
ApeX Omni ETHUSDT	−0.0005%	1h	2,729.9	−0.035%	$8.9M	$31.3M	100x	as long as short
dYdX ETH-USD	0.0000%	1h	2,729.8	−0.037%	$10.7M	$41.7M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,730	−0.030%	$188K	$841K	50x	as long as short
Phoenix ETH	0.0000%	1h	2,728.8	−0.074%	$832K	$2.9M	25x	as long as short
Bullet ETH-USD	+0.0006%	1h	2,729.9	−0.033%	$180K	$1.7M	20x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,731.1	+0.011%	$26.2M	—	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX ETH-USD	+0.0058%	1h	2,730.2	−0.022%	$54.4M	$187.6M	40x	as long as short
BingX ETH-USDT	+0.0059%	8h	2,730.6	−0.007%	—	$1.14B	—	as long as short
KuCoin ETHUSDTM	+0.0070%	8h	2,729.5	−0.050%	$380.2M	$576.1M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0073%	8h	2,730	−0.029%	$1.67B	$10.70B	100x	as long as short
Aster ETHUSDTlong	+0.0079%	8h	2,730.8	long leg	$251.5M	$844.3M	200x
HTX ETH-USDT	+0.0082%	8h	2,728	−0.104%	$1.05B	$1.19B	200x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,727.8	−0.111%	$4.9M	$155K	20x	as long as short
Binance ETHUSDT	+0.0088%	8h	2,730.8	−0.001%	$6.34B	$15.86B	150x	as long as short
MEXC ETH_USDT	+0.0089%	8h	2,729.9	−0.033%	$1.52B	$2.55B	500x	as long as short
Bybit ETHUSDT	+0.0089%	8h	2,729.9	−0.033%	$2.39B	$4.34B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,729.8	−0.038%	$112.1M	$435.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,731.1	+0.012%	$23.2M	$105.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,730.2	−0.021%	—	$30.6M	500x	as long as short
Paradex ETH-USD-PERP	+0.0098%	8h	2,733.6	+0.104%	$15.6M	$8.0M	50x	as long as short
RISEx ETH/USDC	+0.0099%	1h	2,730.5	−0.013%	$5.6M	$11.5M	25x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,729.2	−0.059%	$500K	$3.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,729.7	−0.042%	$13.8M	$104.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,731.9	+0.040%	$3.10B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,730.4	−0.015%	$31.6M	$333.8M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,729.3	−0.055%	$2.7M	$17.0M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,730.3	−0.019%	$2.8M	$16.2M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,730.7	−0.004%	$3.34B	$8.82B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,730.3	−0.017%	$2.07B	$2.75B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,728.8	−0.073%	$15.0M	$39.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,728.4	−0.089%	$133.1M	$325.5M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,730.8	−0.001%	$183.7M	$669.7M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,730.7	−0.005%	$158.9M	$86.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,730.4	−0.015%	$21.1M	$69.5M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,730.5	−0.013%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,731.2	+0.014%	$11.1M	$9.1M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,731.9	+0.039%	$41.2M	$29.7M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,729.1	−0.064%	$957K	$11.4M	100x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,729	−0.066%	$265.3M	$65.4M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,730.9	+0.003%	$166.8M	$318.0M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,729	−0.067%	$30.4M	$72.6M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0105%	1h	2,731.7	+0.031%	$260.1M	$196.7M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,730	−0.031%	$51.7M	$4.26B	50x	as long as short
Aftermath Perps ETHUSD	+0.0123%	1h	2,731.4	+0.023%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0152%	8h	2,728.5	−0.085%	$6.4M	$677.4M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0193%	8h	2,732.8	+0.071%	$32.1M	$11.6M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0222%	1h	2,729.2	−0.059%	$84.2M	$314.0M	100x	as long as short
Reya ETHRUSDPERPshort	+0.0222%	1h	2,728.9	−0.068%	$7.3M	$1.2M	25x
Hibachi ETH/USDT-P	+0.0248%	1h	2,730.5	−0.010%	$253K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0333%	8h	2,728.7	−0.076%	$284.6M	$174.8M	150x	as long as short
Bluefin ETH-PERP	+0.0360%	1h	2,731.1	+0.012%	$21K	$20K	25x	as long as short