Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0034%/8h= +3.7% APRpaid last 24h +0.007%

Price spread now: RISEx against BingX+0.128%7-day average +0.049% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$180.177% of the position

Long on BingX Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.061%+$6 on $10k

Price spread, last 7 days−0.103%−$10 · spread now +0.128%, 7d avg +0.049%

Together, before fees−0.042%−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and RISEx is 0.079% dearer against BingX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ETH-USDC	2,746.3	0.0043	pay 0.0043% / 8h	5h 56m	—	$18.5M	—
Short	RISEx ETH/USDC	2,749.8	0.0077	get 0.0010% / 1h	56m 11s	$5.7M	$11.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against BingX. 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 BingXbpFee RISExbpOrdersPrice spread, now +0.128%Rate

Funding earned: $7.17
Price spread: +0.128% → +0.049%: $7.9
Slippage, 4 orders: −$1.67
Fee BingX: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$2.6
Costs to cover: 0.177%
Break-even: 9.5 days

Slippage from BingX: live order book, 12 min ago; RISEx: 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 BingX live order book, 12 min ago	0.24 bp	5.2 bp −$5	5.6 bp −$56	6.8 bp −$684	9.3 bp −$4,647
Sell RISEx live order book, 3 min ago	0.02 bp	4.2 bp −$4	5.2 bp −$52	doesn't fit	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	2,748.1	+0.063%	$306K	$5.6M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,749.4	+0.112%	$5K	$1K	50x	as long as short
Injective ETH/USDC PERP	−0.0044%	1h	2,742.6	−0.136%	$118K	$22.5M	52x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,748.4	+0.074%	$12.1M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,748.4	+0.075%	$847K	$2.9M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,748.8	+0.090%	$10.8M	$41.9M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,747.6	+0.047%	$22.2M	—	200x	as long as short
BingX ETH-USDClong	+0.0043%	8h	2,746.3	long leg	—	$18.5M	—
01 Exchange ETHUSD	+0.0048%	1h	2,749.6	+0.119%	$183K	$966K	50x	as long as short
OKX ETH-USDT-SWAP	+0.0054%	8h	2,745.8	−0.020%	$1.70B	$10.58B	100x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ETHUSDTM	+0.0066%	8h	2,747.2	+0.030%	$369.2M	$598.6M	100x	as long as short
Aster ETHUSDT	+0.0073%	8h	2,747.3	+0.034%	$252.6M	$841.1M	200x	as long as short
RISEx ETH/USDCshort	+0.0077%	1h	2,749.8	+0.128%	$5.7M	$11.2M	25x
Aevo ETH-PERP	+0.0080%	1h	2,745.4	−0.035%	$4.9M	$159K	20x	as long as short
Binance ETHUSDT	+0.0083%	8h	2,746.7	+0.012%	$6.39B	$15.73B	150x	as long as short
MEXC ETH_USDT	+0.0083%	8h	2,746.4	+0.003%	$1.56B	$2.51B	500x	as long as short
HTX ETH-USDT	+0.0091%	8h	2,747.4	+0.040%	$1.06B	$1.18B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,747	+0.024%	$113.0M	$430.3M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,748.4	+0.074%	$24.7M	$103.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,743.1	−0.117%	—	$30.9M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0096%	1h	2,748	+0.059%	$58.6M	$4.27B	50x	as long as short
ApeX Omni ETHUSDT	+0.0097%	1h	2,747.1	+0.028%	$8.7M	$31.1M	100x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,752.6	+0.228%	$16.2M	$7.9M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,749.1	+0.101%	$484K	$3.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,748.3	+0.070%	$13.9M	$106.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,748.1	+0.064%	$3.12B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,749	+0.098%	$31.7M	$334.3M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,745.8	−0.020%	$2.47B	$4.19B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,748.4	+0.075%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,749.8	+0.125%	$2.7M	$16.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,746.2	−0.005%	$3.39B	$8.64B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,746.1	−0.008%	$2.08B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,745.6	−0.028%	$15.0M	$41.1M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,748	+0.062%	$132.7M	$342.3M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,746.8	+0.019%	$181.9M	$701.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,747.3	+0.036%	$159.7M	$81.7M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,747	+0.024%	$21.2M	$69.0M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,748.1	+0.063%	—	$819K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,748.9	+0.094%	$10.7M	$8.4M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,747.9	+0.057%	$183K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,748.1	+0.065%	$21K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,749.2	+0.104%	$41.7M	$29.6M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,748.1	+0.066%	$963K	$11.9M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,747.2	+0.032%	$54.7M	$187.5M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,747.3	+0.033%	$267.4M	$65.2M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,746.2	−0.004%	$164.3M	$302.6M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,746.4	+0.002%	$30.6M	$72.6M	50x	as long as short
Aftermath Perps ETHUSD	+0.0110%	1h	2,747	+0.024%	$30K	$20K	20x	as long as short
Deribit ETH-PERPETUAL	+0.0129%	1h	2,748.5	+0.080%	$258.9M	$195.6M	50x	as long as short
Kalshi KXETHPERP	+0.0149%	8h	2,747	+0.024%	$7.9M	$670.0M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0183%	8h	2,750.3	+0.145%	$32.3M	$11.0M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0221%	1h	2,748	+0.061%	$88.1M	$309.3M	100x	as long as short
Reya ETHRUSDPERP	+0.0224%	1h	2,747.8	+0.054%	$7.3M	$1.1M	25x	as long as short
Hibachi ETH/USDT-P	+0.0232%	1h	2,746.5	+0.006%	$250K	$1.4M	20x	as long as short