Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.019%

Price spread now: edgeX against Bluefin−0.054%72s7-day average — · you buy dearer than you sell

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

Long on Bluefin Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: edgeX is 0.054% cheaper against Bluefin than usual: you would sell low and buy high, −$5 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bluefin ETH-PERP	2,733.7	0.0100	pay 0.0013% / 1h	15m 44s	$21K	$20K	25x
Short	edgeX ETHUSDC	2,732.2	0.0100	get 0.0050% / 4h	15m 44s	$183.8M	$671.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Bluefin. 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 BluefinbpFee edgeXbpOrdersPrice spread, now −0.054%Rate

Funding earned: $0
Price spread: −0.054% → 0.000%: −$5.43
Slippage, 4 orders: no order book: not counted
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$21.43
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Bluefin: no order-book sample; edgeX: live order book, 3 min ago. 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 Bluefin no order-book sample	—	—	—	—	—
Sell edgeX live order book, 3 min ago	0.07 bp	4.9 bp −$5	4.9 bp −$49	5.0 bp −$503	6.2 bp −$3,086

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
Perpl ETH	−0.0447%	43m	2,733.4	−0.009%	$297K	$5.6M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,734.2	+0.020%	$117K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,734	+0.013%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,733.4	−0.007%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,733.1	−0.021%	$10.8M	$41.6M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,733.9	+0.009%	$187K	$823K	50x	as long as short
Phoenix ETH	0.0000%	1h	2,733.9	+0.009%	$828K	$2.9M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,733.6	−0.001%	$28.1M	—	200x	as long as short
Bullet ETH-USD	+0.0009%	1h	2,732.4	−0.045%	$179K	$1.7M	20x	as long as short
HTX ETH-USDT	+0.0036%	8h	2,732.1	−0.056%	$1.06B	$1.20B	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDC	+0.0049%	8h	2,732.3	−0.050%	—	$18.4M	—	as long as short
ApeX Omni ETHUSDT	+0.0049%	1h	2,732.7	−0.036%	$8.7M	$31.3M	100x	as long as short
Bybit ETHUSDT	+0.0057%	8h	2,733.2	−0.016%	$2.38B	$4.35B	150x	as long as short
KuCoin ETHUSDTM	+0.0063%	8h	2,732.1	−0.058%	$380.1M	$574.6M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0072%	1h	2,734.6	+0.034%	$259.7M	$196.4M	50x	as long as short
OKX ETH-USDT-SWAP	+0.0072%	8h	2,733.5	−0.007%	$1.67B	$10.71B	100x	as long as short
Phemex ETHUSDT	+0.0074%	8h	2,733.2	−0.017%	$265.7M	$65.2M	150x	as long as short
Aster ETHUSDT	+0.0085%	8h	2,733.1	−0.019%	$251.0M	$841.8M	200x	as long as short
SoDEX ETH-USD	+0.0091%	1h	2,733.1	−0.020%	$54.4M	$187.6M	40x	as long as short
MEXC ETH_USDT	+0.0093%	8h	2,732.6	−0.040%	$1.54B	$2.57B	500x	as long as short
Binance ETHUSDT	+0.0094%	8h	2,733.3	−0.013%	$6.35B	$15.87B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,733.6	−0.002%	$112.9M	$440.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,734.7	+0.037%	$23.4M	$106.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,733.6	−0.002%	—	$30.9M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,730.5	−0.114%	$4.9M	$155K	20x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,736.8	+0.114%	$15.5M	$8.0M	50x	as long as short
RISEx ETH/USDC	+0.0099%	1h	2,734	+0.012%	$5.6M	$11.6M	25x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,732.8	−0.031%	$500K	$3.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,733.4	−0.011%	$13.6M	$104.4M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,735.5	+0.068%	$3.10B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,734.2	+0.022%	$31.9M	$333.9M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,732.9	−0.027%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,733.7	+0.003%	$1.6M	$16.3M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,733	−0.024%	$3.34B	$8.91B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,733.3	−0.012%	$2.07B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,732.2	−0.055%	$15.0M	$39.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,732.4	−0.045%	$133.8M	$325.4M	—	as long as short
edgeX ETHUSDCshort	+0.0100%	4h	2,732.2	−0.054%	$183.8M	$671.9M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,732.8	−0.032%	$159.0M	$86.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,732	−0.060%	$21.1M	$68.1M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,734.6	+0.035%	$11.2M	$9.2M	50x	as long as short
Bluefin ETH-PERPlong	+0.0100%	1h	2,733.7	long leg	$21K	$20K	25x
Derive ETH-PERP	+0.0100%	1h	2,734.9	+0.046%	$41.3M	$29.8M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,732.1	−0.058%	$957K	$11.3M	100x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,734.8	+0.043%	$164.8M	$300.4M	25x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,734	+0.012%	—	$843K	50x	as long as short
Extended ETH-USD	+0.0104%	1h	2,731.4	−0.081%	$30.4M	$72.8M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,734.4	+0.029%	$51.3M	$4.27B	50x	as long as short
Aftermath Perps ETHUSD	+0.0114%	1h	2,733.9	+0.008%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0136%	8h	2,733.8	+0.005%	$6.7M	$678.7M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0195%	8h	2,735.5	+0.067%	$32.2M	$11.6M	100x	as long as short
Reya ETHRUSDPERP	+0.0218%	1h	2,732.4	−0.047%	$7.3M	$1.2M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0222%	1h	2,733.8	+0.007%	$83.3M	$314.7M	100x	as long as short
Hibachi ETH/USDT-P	+0.0272%	1h	2,734.9	+0.047%	$253K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0375%	8h	2,734.3	+0.023%	$283.8M	$175.7M	150x	as long as short