Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0017%/8h= −1.9% APRpaid last 24h −0.003%

Price spread now: MEXC against Bulk+0.029%7-day average −0.013% · 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−$5as in the Price arb table

costs, in and out, $10k−$90.091% of the position

Long on Bulk Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.015%−$2 on $10k

Price spread, last 7 days−0.027%−$3 · spread now +0.029%, 7d avg −0.013%

Together, before fees−0.043%−$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.042% dearer against Bulk than usual: you sell high and buy low (spread +0.029% now, against its 7-day average of −0.013%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 8.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk ETH-USD	2,746.2	0.0100	pay 0.0013% / 1h	1m 29s	$164.3M	$302.6M	25x
Short	MEXC ETH_USDT	2,747	0.0083	get 0.0083% / 8h	6h 01m	$1.57B	$2.59B	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Bulk. 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 BulkbpFee MEXCbpOrdersPrice spread, now +0.029%Rate

Funding earned: −$3.57
Price spread: +0.029% → −0.013%: $4.17
Slippage, 4 orders: −$0.07
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee MEXC: 1 bp × 2 orders: −$2
Net: −$8.48
Costs to cover: 0.091%
Break-even: never at this rate

Slippage from Bulk: live order book, 3 min ago; MEXC: 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 Bulk live order book, 3 min ago	0.02 bp	3.5 bp −$4	3.5 bp −$35	3.5 bp −$352	5.2 bp −$2,601
Sell MEXC live order book, 3 min ago	0.02 bp	1.0 bp −$1	1.0 bp −$10	1.0 bp −$102	2.3 bp −$1,158

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	2,747.8	+0.056%	$306K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,748.2	+0.072%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,747.5	+0.047%	$5.7M	$11.2M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,749.3	+0.110%	$12.1M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,748.4	+0.079%	$847K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,748.2	+0.070%	$10.8M	$42.0M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,747.5	+0.044%	$22.2M	—	200x	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,747.8	+0.057%	$181K	$979K	50x	as long as short
BingX ETH-USDT	+0.0042%	8h	2,747.1	+0.031%	—	$1.16B	—	as long as short
OKX ETH-USDT-SWAP	+0.0053%	8h	2,746.9	+0.026%	$1.70B	$10.66B	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	2,747.1	+0.030%	$369.5M	$604.0M	100x	as long as short
Aster ETHUSDT	+0.0074%	8h	2,747.4	+0.044%	$253.1M	$845.1M	200x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,746.6	+0.013%	$4.9M	$167K	20x	as long as short
HTX ETH-USDT	+0.0082%	8h	2,747.9	+0.062%	$1.06B	$1.18B	200x	as long as short
MEXC ETH_USDTshort	+0.0083%	8h	2,747	+0.029%	$1.57B	$2.59B	500x
Binance ETHUSDT	+0.0083%	8h	2,746.9	+0.026%	$6.39B	$15.88B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,749.4	+0.116%	$58.6M	$4.29B	50x	as long as short
ApeX Omni ETHUSDT	+0.0090%	1h	2,748.3	+0.075%	$8.8M	$31.2M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,747.3	+0.039%	$113.0M	$445.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,749.4	+0.114%	$24.8M	$108.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,747.5	+0.046%	—	$31.0M	500x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,752	+0.209%	$16.2M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,747.4	+0.043%	$483K	$3.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,748	+0.066%	$13.9M	$107.9M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,749.3	+0.112%	$3.12B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,747.5	+0.048%	$31.7M	$334.3M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,747.1	+0.032%	$2.47B	$4.20B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,746.6	+0.013%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,747.7	+0.052%	$2.8M	$16.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,747.2	+0.036%	$3.40B	$8.95B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,747.1	+0.031%	$2.08B	$2.74B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,748	+0.066%	$15.0M	$41.4M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,746.2	−0.002%	$132.8M	$343.9M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,748.2	+0.071%	$182.1M	$701.0M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,748.5	+0.081%	$159.8M	$81.7M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,748.2	+0.072%	$21.3M	$69.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,748.4	+0.079%	—	$849K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,747.6	+0.050%	$10.7M	$8.5M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,747	+0.027%	$182K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,749	+0.102%	$21K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,750.1	+0.143%	$41.7M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,746.4	+0.007%	$963K	$12.0M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,748.2	+0.072%	$54.7M	$187.6M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,748.8	+0.093%	$267.7M	$65.8M	150x	as long as short
Bulk ETH-USDlong	+0.0100%	1h	2,746.2	long leg	$164.3M	$302.6M	25x
Extended ETH-USD	+0.0104%	1h	2,746.3	+0.001%	$30.6M	$72.8M	50x	as long as short
Aftermath Perps ETHUSD	+0.0107%	1h	2,747.8	+0.056%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0149%	8h	2,749.4	+0.115%	$7.9M	$672.9M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0161%	1h	2,749.6	+0.121%	$258.9M	$197.0M	50x	as long as short
Orderly PERP_ETH_USDC	+0.0181%	8h	2,751.1	+0.176%	$32.3M	$11.0M	100x	as long as short
Injective ETH/USDC PERP	+0.0209%	1h	2,748.3	+0.075%	$118K	$22.5M	52x	as long as short
Reya ETHRUSDPERP	+0.0223%	1h	2,746.8	+0.019%	$7.3M	$1.1M	25x	as long as short
Hibachi ETH/USDT-P	+0.0232%	1h	2,750	+0.138%	$250K	$1.4M	20x	as long as short
Kraken Futures PF_ETHUSD	+0.0354%	1h	2,749.1	+0.103%	$88.2M	$313.9M	100x	as long as short