Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0236%/8h= −25.8% APRpaid last 24h +0.002%

Price spread now: RISEx against Aster−0.026%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$150.153% of the position

Long on Aster Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.028%+$3 on $10k

Price spread, last 7 days+0.043%+$4 · spread now −0.026%, 7d avg +0.001%

Together, before fees+0.071%+ Points / potential airdropAster: Stage 5 · farm board+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and RISEx is 0.027% cheaper against Aster than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.001%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.028% in total (about 3.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ETHUSDT	2,767.3	0.0029	pay 0.0029% / 8h	23m 41s	$255.4M	$1.00B	200x
Short	RISEx ETH/USDC	2,766.6	−0.0206	pay 0.0026% / 1h	23m 41s	$5.6M	$11.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$49.52
Price spread: −0.026% → +0.001%: −$2.71
Slippage, 4 orders: −$1.33
Fee Aster: 4 bp × 2 orders: −$8
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$67.55
Costs to cover: 0.153%
Break-even: never at this rate

Slippage from Aster: live order book, 6 min ago; RISEx: live order book, 5 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, 6 min ago	0.02 bp	4.0 bp −$4	4.7 bp −$47	5.5 bp −$551	12.9 bp −$6,447
Sell RISEx live order book, 5 min ago	0.02 bp	4.1 bp −$4	4.9 bp −$49	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
Perpl ETH	−0.0223%	43m	2,768.5	+0.043%	$285K	$6.9M	8.3x	as long as short
RISEx ETH/USDCshort	−0.0206%	1h	2,766.6	−0.026%	$5.6M	$11.9M	25x
Injective ETH/USDC PERP	−0.0088%	1h	2,781.9	+0.527%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,767.2	−0.004%	$5K	$2K	50x	as long as short
ApeX Omni ETHUSDT	−0.0032%	1h	2,772.4	+0.182%	$8.8M	$32.9M	100x	as long as short
01 Exchange ETHUSD	−0.0008%	1h	2,767.2	−0.004%	$168K	$1.2M	50x	as long as short
dYdX ETH-USD	0.0000%	1h	2,767	−0.011%	$12.7M	$45.9M	50x	as long as short
Phoenix ETH	+0.0003%	1h	2,771.1	+0.137%	$876K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,768.2	+0.031%	$22.4M	—	200x	as long as short
BingX ETH-USDT	+0.0016%	8h	2,766.9	−0.017%	—	$1.22B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0021%	8h	2,766.8	−0.018%	$1.70B	$11.86B	100x	as long as short
Aftermath Perps ETHUSD	+0.0023%	1h	2,772.5	+0.188%	$29K	$22K	20x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0026% / S +0.0009%	1h	2,768.1	+0.029%	$12.8M	—	200x	as long as short
Aster ETHUSDTlong	+0.0029%	8h	2,767.3	long leg	$255.4M	$1.00B	200x
SoDEX ETH-USD	+0.0032%	1h	2,766.3	−0.037%	$55.1M	$229.0M	40x	as long as short
Phemex ETHUSDT	+0.0036%	8h	2,767.3	−0.001%	$269.8M	$69.0M	150x	as long as short
Deribit ETH-PERPETUAL	+0.0043%	1h	2,767.8	+0.018%	$259.0M	$222.4M	50x	as long as short
Bullet ETH-USD	+0.0045%	1h	2,767.4	+0.004%	$182K	$1.7M	20x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,763.8	−0.126%	$5.0M	$636K	20x	as long as short
MEXC ETH_USDT	+0.0058%	8h	2,767.4	+0.003%	$1.60B	$2.65B	500x	as long as short
Binance ETHUSDT	+0.0058%	8h	2,766.7	−0.022%	$6.44B	$17.31B	150x	as long as short
Bitget ETHUSDT	+0.0066%	8h	2,766.6	−0.027%	$2.10B	$3.10B	150x	as long as short
Gate ETH_USDT	+0.0069%	8h	2,766.8	−0.018%	$3.28B	$9.66B	200x	as long as short
KuCoin ETHUSDTM	+0.0082%	8h	2,766	−0.047%	$420.3M	$739.9M	100x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,768	+0.026%	$60.0M	$4.58B	50x	as long as short
Bybit ETHUSDT	+0.0089%	8h	2,767.1	−0.008%	$2.50B	$4.63B	150x	as long as short
Vest ETH-PERP	+0.0094%	1h	2,768.5	+0.042%	—	$1.1M	50x	as long as short
HTX ETH-USDT	+0.0095%	8h	2,766	−0.047%	$1.08B	$1.32B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,766.8	−0.020%	$115.0M	$499.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,767.5	+0.005%	$25.2M	$121.6M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,766.6	−0.027%	$15.9M	$10.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,766.1	−0.044%	$475K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,767.7	+0.014%	$14.3M	$118.2M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,767.8	+0.017%	$3.17B	$2.35B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,767.5	+0.007%	$31.2M	$312.6M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,765.6	−0.062%	$2.8M	$17.2M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,767.6	+0.012%	$2.7M	$17.3M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,772.9	+0.202%	$167.0M	$259.0M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,765.9	−0.053%	$15.1M	$44.4M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,770.3	+0.109%	$147.5M	$336.1M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,768.5	+0.041%	$181.7M	$783.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,771.2	+0.141%	$161.1M	$89.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,771.4	+0.147%	$21.4M	$58.6M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,767.8	+0.017%	$10.6M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,768.1	+0.029%	$21K	$24K	25x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,767.3	−0.001%	$970K	$13.9M	100x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,769	+0.059%	$42.6M	$29.4M	15x	as long as short
Extended ETH-USD	+0.0104%	1h	2,766.2	−0.039%	$32.5M	$78.2M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,770.7	+0.124%	—	$42.0M	500x	as long as short
Kalshi KXETHPERP	+0.0113%	8h	2,768.9	+0.057%	$8.2M	$687.2M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0123%	1h	2,767.7	+0.012%	$87.0M	$335.4M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0141%	8h	2,769.3	+0.072%	$32.5M	$12.1M	100x	as long as short
BloFin ETH-USDT	+0.0178%	8h	2,770	+0.096%	$287.3M	$194.2M	150x	as long as short
Reya ETHRUSDPERP	+0.0202%	1h	2,767.3	0.000%	$7.3M	$1.1M	25x	as long as short
Hibachi ETH/USDT-P	+0.0232%	1h	2,771.5	+0.150%	$252K	$1.6M	20x	as long as short