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 +0.003%

Price spread now: edgeX against Bybit+0.101%81s7-day average −0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$210.209% of the position

Long on Bybit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.117%+$12 on $10k

Price spread, last 7 days−0.122%−$12 · spread now +0.101%, 7d avg −0.029%

Together, before fees−0.005%+ Points / potential airdropedgeX: Active · farm board$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: edgeX is 0.130% dearer against Bybit than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.029%. The two prices were read 81 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	Bybit ETHUSDT	2,745.4	0.0100	pay 0.0100% / 8h	6h 00m	$2.46B	$4.19B	150x
Short	edgeX ETHUSDC	2,748.2	0.0100	get 0.0050% / 4h	2h 00m	$182.1M	$701.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Bybit. 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 BybitbpFee edgeXbpOrdersPrice spread, now +0.101%Rate

Funding earned: $0
Price spread: +0.101% → −0.029%: $12.98
Slippage, 4 orders: −$0.89
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$7.91
Costs to cover: 0.209%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; edgeX: live order book, 4 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 Bybit live order book, 4 min ago	0.02 bp	5.5 bp −$6	6.0 bp −$60	7.0 bp −$703	9.0 bp −$4,501
Sell edgeX live order book, 4 min ago	0.02 bp	4.9 bp −$5	4.9 bp −$49	5.1 bp −$508	6.0 bp −$3,018

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	2,746.4	+0.035%	$306K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,746.8	+0.051%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,746.8	+0.051%	$5.7M	$11.2M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,745.6	+0.007%	$12.1M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,748.4	+0.109%	$847K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,746.7	+0.048%	$10.8M	$42.0M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,745.8	+0.013%	$22.2M	—	200x	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,747.3	+0.069%	$181K	$979K	50x	as long as short
BingX ETH-USDC	+0.0042%	8h	2,745.6	+0.008%	—	$18.5M	—	as long as short
OKX ETH-USDT-SWAP	+0.0053%	8h	2,745.3	−0.004%	$1.70B	$10.64B	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	2,745.3	−0.004%	$369.4M	$604.1M	100x	as long as short
Aster ETHUSDT	+0.0074%	8h	2,745.9	+0.019%	$252.5M	$843.9M	200x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,743.4	−0.072%	$4.9M	$167K	20x	as long as short
HTX ETH-USDT	+0.0083%	8h	2,745.7	+0.010%	$1.06B	$1.18B	200x	as long as short
MEXC ETH_USDT	+0.0083%	8h	2,745.2	−0.007%	$1.57B	$2.60B	500x	as long as short
Binance ETHUSDT	+0.0084%	8h	2,745.3	−0.005%	$6.38B	$15.83B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,746.3	+0.031%	$58.6M	$4.28B	50x	as long as short
ApeX Omni ETHUSDT	+0.0090%	1h	2,748.3	+0.105%	$8.8M	$31.2M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,745.6	+0.006%	$112.9M	$445.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,747.3	+0.067%	$24.7M	$108.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,747.5	+0.076%	—	$31.0M	500x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,751.1	+0.206%	$16.2M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,746.7	+0.047%	$483K	$3.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,746.1	+0.024%	$13.9M	$107.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,748.4	+0.109%	$3.12B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,747.1	+0.062%	$31.7M	$334.3M	50x	as long as short
Bybit ETHUSDTlong	+0.0100%	8h	2,745.4	long leg	$2.46B	$4.19B	150x
Ondo Perps ETH-USD.P	+0.0100%	1h	2,746.8	+0.051%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,746.9	+0.055%	$2.8M	$16.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,745.5	+0.004%	$3.39B	$8.96B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,745.5	+0.004%	$2.08B	$2.74B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,745.3	−0.005%	$15.0M	$41.2M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,746.6	+0.043%	$133.0M	$342.9M	—	as long as short
edgeX ETHUSDCshort	+0.0100%	4h	2,748.2	+0.101%	$182.1M	$701.0M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,748.5	+0.111%	$159.8M	$81.7M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,748.2	+0.102%	$21.3M	$69.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,747	+0.059%	—	$849K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,746.5	+0.040%	$10.7M	$8.5M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,745.2	−0.008%	$182K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,746.2	+0.029%	$21K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,747.5	+0.075%	$41.6M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,745.6	+0.007%	$962K	$12.0M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,745.4	0.000%	$54.7M	$187.5M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,745.9	+0.017%	$267.3M	$65.7M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,746.2	+0.030%	$164.3M	$302.6M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,744.8	−0.022%	$30.6M	$72.7M	50x	as long as short
Aftermath Perps ETHUSD	+0.0108%	1h	2,747.4	+0.073%	$30K	$20K	20x	as long as short
Deribit ETH-PERPETUAL	+0.0118%	1h	2,746.8	+0.050%	$258.9M	$196.3M	50x	as long as short
Kalshi KXETHPERP	+0.0149%	8h	2,746.8	+0.051%	$7.9M	$671.4M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0182%	8h	2,748.3	+0.105%	$32.3M	$11.0M	100x	as long as short
Injective ETH/USDC PERP	+0.0209%	1h	2,748.3	+0.105%	$118K	$22.5M	52x	as long as short
Reya ETHRUSDPERP	+0.0223%	1h	2,745	−0.015%	$7.3M	$1.1M	25x	as long as short
Hibachi ETH/USDT-P	+0.0232%	1h	2,750	+0.168%	$250K	$1.4M	20x	as long as short
Kraken Futures PF_ETHUSD	+0.0354%	1h	2,746.3	+0.031%	$88.1M	$310.8M	100x	as long as short