Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h −0.012%

Price spread now: 01 Exchange against Bybit+0.066%7-day average −0.004% · 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−$16as in the Price arb table

costs, in and out, $10k−$230.233% of the position

Long on Bybit Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.046%−$5 on $10k

Price spread, last 7 days−0.085%−$8 · spread now +0.066%, 7d avg −0.004%

Together, before fees−0.130%−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. 01 Exchange is 0.070% dearer against Bybit than usual: you sell high and buy low (spread +0.066% now, against its 7-day average of −0.004%): +$7 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 23 days. At the pace of the last 4 days (−0.046% in total) that is about 5.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ETHUSDT	2,717.4	0.0042	pay 0.0042% / 8h	2h 31m	$2.35B	$4.41B	150x
Short	01 Exchange ETHUSD	2,719.2	0.0032	get 0.0004% / 1h	31m 22s	$187K	$789K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.066%Rate

Funding earned: −$2.17
Price spread: +0.066% → −0.004%: $7.03
Slippage, 4 orders: −$5.26
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$18.4
Costs to cover: 0.233%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; 01 Exchange: live order book, 18 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, 3 min ago	0.02 bp	5.5 bp −$6	5.5 bp −$55	6.7 bp −$673	9.0 bp −$4,515
Sell 01 Exchange live order book, 18 min ago	0.18 bp	5.7 bp −$6	11.6 bp −$116	doesn't fit	doesn't fit

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	2,718.1	+0.025%	$282K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,718.2	+0.029%	$5K	$1K	50x	as long as short
HTX ETH-USDT	−0.0011%	8h	2,717	−0.015%	$1.05B	$1.21B	200x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,717.6	+0.008%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0009%	1h	2,719.2	+0.066%	$814K	$3.0M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0008%	1h	2,717.8	+0.015%	$30.4M	—	200x	as long as short
Injective ETH/USDC PERP	+0.0009%	1h	2,720.2	+0.103%	$117K	$22.5M	52x	as long as short
dYdX ETH-USD	+0.0010%	1h	2,719	+0.059%	$10.7M	$42.0M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0026%	1h	2,718.6	+0.043%	$258.7M	$206.2M	50x	as long as short
01 Exchange ETHUSDshort	+0.0032%	1h	2,719.2	+0.066%	$187K	$789K	50x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDC	+0.0033%	8h	2,717.1	−0.010%	—	$18.5M	—	as long as short
Bybit ETHUSDTlong	+0.0042%	8h	2,717.4	long leg	$2.35B	$4.41B	150x
SunX ETH-USDT	+0.0068%	8h	2,716.9	−0.020%	$952K	$11.2M	100x	as long as short
ApeX Omni ETHUSDT	+0.0069%	1h	2,717.6	+0.006%	$8.6M	$31.3M	100x	as long as short
Bullet ETH-USD	+0.0070%	1h	2,717.5	+0.004%	$180K	$1.7M	20x	as long as short
Aftermath Perps ETHUSD	+0.0072%	1h	2,721.3	+0.143%	$30K	$20K	20x	as long as short
KuCoin ETHUSDTM	+0.0076%	8h	2,717.7	+0.011%	$374.2M	$577.8M	100x	as long as short
Aster ETHUSDT	+0.0084%	8h	2,717.9	+0.018%	$251.5M	$843.6M	200x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,715	−0.087%	$4.9M	$155K	20x	as long as short
MEXC ETH_USDT	+0.0091%	8h	2,718	+0.022%	$1.56B	$2.58B	500x	as long as short
Binance ETHUSDT	+0.0091%	8h	2,717.6	+0.007%	$6.29B	$16.07B	150x	as long as short
OKX ETH-USDT-SWAP	+0.0092%	8h	2,717.3	−0.004%	$1.65B	$10.77B	100x	as long as short
Lighter ETH	+0.0096%	1h	2,718.9	+0.054%	$111.2M	$432.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,720	+0.097%	$23.3M	$103.2M	50x	as long as short
Phemex ETHUSDT	+0.0098%	8h	2,718	+0.020%	$262.7M	$64.2M	150x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,718.4	+0.037%	$497K	$3.4M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,721	+0.131%	$15.2M	$8.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,717.6	+0.007%	$13.8M	$105.0M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,720.2	+0.103%	$3.08B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,719.5	+0.077%	$31.8M	$334.4M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,717.9	+0.018%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,718.9	+0.056%	$1.5M	$16.2M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,719	+0.057%	$161.7M	$327.3M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,717.6	+0.008%	$3.30B	$8.95B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,717.4	−0.001%	$2.07B	$2.76B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,718.6	+0.045%	$14.9M	$43.1M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,723.2	+0.215%	$133.0M	$326.9M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,717.4	−0.001%	$184.0M	$676.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,718.3	+0.034%	$158.2M	$87.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,718	+0.022%	$20.9M	$71.3M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,719.4	+0.073%	—	$876K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,719.4	+0.074%	$11.1M	$9.6M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,718.2	+0.031%	$22K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,718.6	+0.045%	$40.7M	$30.1M	15x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,717.6	+0.007%	$54.1M	$187.8M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,716.6	−0.029%	$30.5M	$74.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,717.8	+0.014%	—	$31.3M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,718.9	+0.055%	$49.7M	$4.28B	50x	as long as short
RISEx ETH/USDC	+0.0108%	1h	2,719	+0.060%	$5.5M	$11.8M	25x	as long as short
Kalshi KXETHPERP	+0.0157%	8h	2,720	+0.096%	$6.5M	$691.7M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0177%	1h	2,718.2	+0.029%	$82.7M	$315.7M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0189%	8h	2,719.7	+0.086%	$32.0M	$11.4M	100x	as long as short
Reya ETHRUSDPERP	+0.0201%	1h	2,717.2	−0.009%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,720.7	+0.122%	$248K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0251%	8h	2,717.8	+0.014%	$281.2M	$174.1M	150x	as long as short