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: Bybit against edgeX+0.122%61s7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as 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−$200.203% of the position

Long on edgeX Short on Bybit

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−0.101%−$10 · spread now +0.122%, 7d avg +0.030%

Together, before fees−0.218%+ Points / potential airdropedgeX: Active · farm board−$22 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: Bybit is 0.092% dearer against edgeX than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.030%. The two prices were read 61 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	edgeX ETHUSDC	2,768.6	0.0100	pay 0.0050% / 4h	3h 08m	$183.7M	$750.2M	100x
Short	Bybit ETHUSDT	2,771.9	0.0100	get 0.0100% / 8h	7h 08m	$2.51B	$4.27B	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against edgeX. 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 edgeXbpFee BybitbpOrdersPrice spread, now +0.122%Rate

Funding earned: $0
Price spread: +0.122% → +0.030%: $9.19
Slippage, 4 orders: −$0.34
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$11.15
Costs to cover: 0.203%
Break-even: never at this rate

Slippage from edgeX: live order book, 6 min ago; Bybit: live order book, 6 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 edgeX live order book, 6 min ago	0.04 bp	4.8 bp −$5	5.7 bp −$57	5.9 bp −$592	7.5 bp −$3,740
Sell Bybit live order book, 6 min ago	0.02 bp	5.5 bp −$6	5.5 bp −$55	7.5 bp −$752	10.0 bp −$4,976

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
Injective ETH/USDC PERP	−0.0752%	1h	2,773.8	+0.189%	$119K	$22.5M	52x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,771.3	+0.099%	$5.6M	$11.1M	25x	as long as short
Perpl ETH	−0.0112%	43m	2,773.8	+0.187%	$323K	$6.2M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,773	+0.160%	$5K	$1K	50x	as long as short
01 Exchange ETHUSD	−0.0032%	1h	2,771.5	+0.106%	$169K	$1.1M	50x	as long as short
Phoenix ETH	−0.0003%	1h	2,770.8	+0.081%	$872K	$3.7M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,771.7	+0.114%	$12.3M	$42.9M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,773.2	+0.168%	$22.4M	—	200x	as long as short
Phemex ETHUSDT	+0.0006%	8h	2,772.4	+0.139%	$269.8M	$65.9M	150x	as long as short
Bullet ETH-USD	+0.0015%	1h	2,772.8	+0.153%	$185K	$1.7M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0032%	8h	2,771.5	+0.108%	$1.71B	$10.97B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0043% / S −0.0009%	1h	2,773.2	+0.168%	$12.7M	—	200x	as long as short
SoDEX ETH-USD	+0.0045%	1h	2,771.8	+0.117%	$55.2M	$187.7M	40x	as long as short
Aster ETHUSDT	+0.0051%	8h	2,771.9	+0.121%	$256.3M	$855.8M	200x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,770.8	+0.079%	$5.0M	$156K	20x	as long as short
MEXC ETH_USDT	+0.0059%	8h	2,770.6	+0.075%	$1.61B	$2.66B	500x	as long as short
Binance ETHUSDT	+0.0060%	8h	2,771.1	+0.093%	$6.48B	$16.04B	150x	as long as short
Aftermath Perps ETHUSD	+0.0072%	1h	2,771.4	+0.104%	$31K	$21K	20x	as long as short
HTX ETH-USDT	+0.0077%	8h	2,771.9	+0.120%	$1.08B	$1.23B	200x	as long as short
Bitget ETHUSDT	+0.0079%	8h	2,771.8	+0.118%	$2.10B	$2.82B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,773.3	+0.172%	$60.4M	$4.40B	50x	as long as short
Gate ETH_USDT	+0.0084%	8h	2,771.2	+0.095%	$3.38B	$9.11B	200x	as long as short
Vest ETH-PERP	+0.0085%	1h	2,772.1	+0.127%	—	$876K	50x	as long as short
ApeX Omni ETHUSDT	+0.0089%	1h	2,769	+0.016%	$8.6M	$31.4M	100x	as long as short
KuCoin ETHUSDTM	+0.0089%	8h	2,772.5	+0.141%	$420.9M	$594.3M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,771.4	+0.101%	$115.2M	$460.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,772.5	+0.143%	$25.6M	$112.1M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,775.2	+0.240%	$15.9M	$8.2M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,771.8	+0.117%	$486K	$2.8M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,771.5	+0.105%	$14.5M	$112.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,774	+0.197%	$3.17B	$2.10B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,771.6	+0.111%	$31.4M	$328.9M	50x	as long as short
Bybit ETHUSDTshort	+0.0100%	8h	2,771.9	+0.122%	$2.51B	$4.27B	150x
Ondo Perps ETH-USD.P	+0.0100%	1h	2,770.8	+0.081%	$2.8M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,771.8	+0.117%	$2.8M	$16.7M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,763.5	−0.181%	$172.0M	$292.0M	25x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,770.9	+0.086%	—	$17.3M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,772.3	+0.133%	$15.2M	$41.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,769.2	+0.022%	$134.1M	$347.1M	—	as long as short
edgeX ETHUSDClong	+0.0100%	4h	2,768.6	long leg	$183.7M	$750.2M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,771.4	+0.102%	$161.1M	$84.1M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,773.8	+0.189%	$21.5M	$64.3M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,771.6	+0.110%	$10.5M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,773.3	+0.170%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,774.2	+0.204%	$42.6M	$28.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,772.3	+0.136%	$972K	$12.8M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,770.5	+0.072%	$30.9M	$74.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,773.9	+0.192%	—	$36.0M	500x	as long as short
Kalshi KXETHPERP	+0.0116%	8h	2,774.8	+0.225%	$8.2M	$673.4M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,773.4	+0.175%	$98.0M	$314.3M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0157%	8h	2,775.1	+0.235%	$32.7M	$11.0M	100x	as long as short
Hibachi ETH/USDT-P	+0.0160%	1h	2,774.3	+0.206%	$253K	$1.5M	20x	as long as short
Deribit ETH-PERPETUAL	+0.0168%	1h	2,773.5	+0.180%	$259.1M	$201.6M	50x	as long as short
BloFin ETH-USDT	+0.0180%	8h	2,771.6	+0.108%	$288.0M	$175.4M	150x	as long as short
Reya ETHRUSDPERP	+0.0214%	1h	2,771.6	+0.110%	$7.3M	$1.1M	25x	as long as short