Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h −0.022%

Price spread now: MEXC against Bluefin+0.117%7-day average — · you sell dearer than you buy

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

Long on Bluefin Short on MEXC

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—needs both histories

The price spread pays, funding is against you. MEXC is 0.117% dearer against Bluefin than usual: you sell high and buy low (spread +0.117% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 7.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bluefin ETH-PERP	2,798.3	0.0100	pay 0.0013% / 1h	32m 39s	$21K	$25K	25x
Short	MEXC ETH_USDT	2,801.6	0.0046	get 0.0046% / 8h	3h 32m	$1.57B	$2.56B	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.117%Rate

Funding earned: −$11.34
Price spread: +0.117% → 0.000%: $11.72
Slippage, 4 orders: no order book: not counted
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee MEXC: 1 bp × 2 orders: −$2
Net: −$8.62
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Bluefin: no order-book sample; MEXC: live order book, 2 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 MEXC live order book, 2 min ago	0.02 bp	1.0 bp −$1	1.0 bp −$10	1.1 bp −$106	3.0 bp −$1,488

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	−0.0112%	43m	2,797.4	−0.034%	$299K	$6.8M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,802.7	+0.158%	$5K	$2K	50x	as long as short
Phoenix ETH	−0.0032%	1h	2,795.5	−0.100%	$804K	$3.5M	25x	as long as short
Phemex ETHUSDT	−0.0020%	8h	2,803.3	+0.180%	$270.3M	$66.1M	150x	as long as short
RISEx ETH/USDC	−0.0005%	1h	2,800.8	+0.090%	$5.8M	$12.2M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,804	+0.204%	$13.4M	$43.4M	50x	as long as short
Injective ETH/USDC PERP	+0.0003%	1h	2,798.9	+0.022%	$120K	$22.5M	52x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,799.1	+0.028%	$22.6M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0016%	8h	2,801.3	+0.109%	$1.70B	$11.93B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0025% / S +0.0011%	1h	2,798.9	+0.022%	$12.9M	—	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ETHUSD	+0.0040%	1h	2,800.7	+0.086%	$177K	$1.2M	50x	as long as short
MEXC ETH_USDTshort	+0.0046%	8h	2,801.6	+0.117%	$1.57B	$2.56B	500x
Binance ETHUSDT	+0.0046%	8h	2,800.3	+0.071%	$6.56B	$17.08B	150x	as long as short
Bulk ETH-USD	+0.0047%	1h	2,803.2	+0.175%	$167.8M	$262.8M	25x	as long as short
Aevo ETH-PERP	+0.0048%	1h	2,796.7	−0.057%	$5.1M	$651K	20x	as long as short
Gate ETH_USDT	+0.0063%	8h	2,800.9	+0.091%	$3.34B	$9.48B	200x	as long as short
Bitget ETHUSDT	+0.0071%	8h	2,800.5	+0.079%	$2.10B	$3.13B	150x	as long as short
Aster ETHUSDT	+0.0074%	8h	2,803.9	+0.201%	$263.3M	$994.3M	200x	as long as short
Aftermath Perps ETHUSD	+0.0076%	1h	2,792.2	−0.218%	$29K	$22K	20x	as long as short
Bullet ETH-USD	+0.0087%	1h	2,798.5	+0.006%	$193K	$1.8M	20x	as long as short
Lighter ETH	+0.0096%	1h	2,803	+0.168%	$117.0M	$513.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,806.1	+0.279%	$25.7M	$124.4M	50x	as long as short
Variational Omni ETH	+0.0099%	8h	2,794	−0.152%	$141.4M	$311.2M	—	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,800.8	+0.090%	$487K	$2.7M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,853.1	+1.958%	$16.6M	$11.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,795.1	−0.116%	$17.6M	$114.9M	50x	as long as short
Pacifica ETH	+0.0100%	1h	2,803.7	+0.193%	$31.9M	$271.8M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,799.9	+0.058%	$2.55B	$4.62B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,801.7	+0.122%	$2.9M	$16.4M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,802.5	+0.149%	$2.8M	$17.1M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,804.9	+0.237%	$411.6M	$737.5M	100x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,800.9	+0.092%	—	$1.17B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,803.9	+0.200%	$15.6M	$42.4M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,795.4	−0.102%	$180.6M	$769.1M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,794.1	−0.148%	$162.5M	$96.5M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,800.2	+0.067%	$8.4M	$29.2M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,801.2	+0.104%	$21.6M	$58.4M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,798	−0.012%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,798.4	+0.004%	$10.9M	$7.9M	50x	as long as short
Bluefin ETH-PERPlong	+0.0100%	1h	2,798.3	long leg	$21K	$25K	25x
SunX ETH-USDT	+0.0100%	8h	2,797.1	−0.044%	$980K	$14.4M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,798.1	−0.007%	$56.0M	$206.7M	40x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,803.7	+0.193%	$1.09B	$1.29B	200x	as long as short
Extended ETH-USD	+0.0104%	1h	2,800.5	+0.080%	$31.8M	$76.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,799.1	+0.027%	—	$46.5M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,800	+0.060%	$60.5M	$4.67B	50x	as long as short
Orderly PERP_ETH_USDC	+0.0114%	8h	2,800.5	+0.079%	$32.8M	$11.5M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,799.6	+0.046%	$89.2M	$335.6M	100x	as long as short
Kalshi KXETHPERP	+0.0140%	8h	2,799.7	+0.050%	$8.7M	$659.9M	4.9x	as long as short
Hyperliquid ETH	+0.0153%	1h	2,808	+0.347%	$3.28B	$2.31B	25x	as long as short
BloFin ETH-USDT	+0.0166%	8h	2,803.7	+0.192%	$292.1M	$196.3M	150x	as long as short
Hibachi ETH/USDT-P	+0.0192%	1h	2,801.2	+0.104%	$260K	$1.6M	20x	as long as short
Deribit ETH-PERPETUAL	+0.0204%	1h	2,800	+0.061%	$259.0M	$219.9M	50x	as long as short
Reya ETHRUSDPERP	+0.0211%	1h	2,796.2	−0.075%	$7.5M	$983K	25x	as long as short
Derive ETH-PERP	+0.0283%	1h	2,801	+0.095%	$43.4M	$29.2M	15x	as long as short