Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0003%/8h= +0.3% APRpaid last 24h +0.001%

Price spread now: Deribit against edgeX−0.034%7-day average +0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$200.203% of the position

Long on edgeX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.072%−$7 on $10k

Price spread, last 3 days (all we have)+0.067%+$7 · spread now −0.034%, 7d avg +0.065%

Together, before fees−0.005%+ Points / potential airdropedgeX: Active · farm board−$1 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: Deribit is 0.099% cheaper against edgeX than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ETHUSDC	2,750.9	0.0100	pay 0.0050% / 4h	2h 21m	$181.9M	$703.9M	100x
Short	Deribit ETH-PERPETUAL	2,750	0.0103	get 0.0013% / 1h	21m 17s	$258.5M	$199.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.034%Rate

Funding earned: $0.63
Price spread: −0.034% → +0.065%: −$9.89
Slippage, 4 orders: −$4.31
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$29.57
Costs to cover: 0.203%
Break-even: 335.6 days

Slippage from edgeX: live order book, 3 min ago; Deribit: 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 edgeX live order book, 3 min ago	0.09 bp	4.6 bp −$5	4.6 bp −$46	4.7 bp −$474	6.0 bp −$2,977
Sell Deribit live order book, 3 min ago	0.18 bp	3.9 bp −$4	5.3 bp −$53	12.5 bp −$1,249	35.3 bp −$17.6K

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	2,750.6	−0.012%	$311K	$6.0M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,750	−0.033%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,750.1	−0.028%	$5.7M	$11.4M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0009% / S +0.0043%	1h	2,749.6	−0.048%	$12.2M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,752.8	+0.069%	$849K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,750.3	−0.024%	$10.8M	$42.0M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,749.7	−0.044%	$22.2M	—	200x	as long as short
01 Exchange ETHUSD	+0.0024%	1h	2,750.5	−0.015%	$181K	$1.1M	50x	as long as short
ApeX Omni ETHUSDT	+0.0028%	1h	2,751.6	+0.026%	$8.7M	$31.5M	100x	as long as short
BingX ETH-USDT	+0.0037%	8h	2,748	−0.106%	—	$1.18B	—	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0047%	8h	2,748	−0.106%	$1.69B	$10.96B	100x	as long as short
HTX ETH-USDT	+0.0057%	8h	2,748.3	−0.095%	$1.06B	$1.20B	200x	as long as short
KuCoin ETHUSDTM	+0.0070%	8h	2,747.9	−0.110%	$372.7M	$609.7M	100x	as long as short
Aster ETHUSDT	+0.0072%	8h	2,749.6	−0.047%	$253.2M	$857.7M	200x	as long as short
MEXC ETH_USDT	+0.0080%	8h	2,748	−0.107%	$1.57B	$2.56B	500x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,746.6	−0.158%	$4.9M	$168K	20x	as long as short
Binance ETHUSDT	+0.0082%	8h	2,748.2	−0.098%	$6.39B	$16.22B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,749.3	−0.059%	$59.1M	$4.34B	50x	as long as short
Gate ETH_USDT	+0.0089%	8h	2,749.8	−0.039%	$3.39B	$8.90B	200x	as long as short
Bitget ETHUSDT	+0.0094%	8h	2,748.2	−0.098%	$2.08B	$2.84B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,748.6	−0.084%	$113.0M	$443.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,750.3	−0.023%	$24.8M	$107.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,749.9	−0.037%	—	$35.5M	500x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,754.5	+0.129%	$16.3M	$8.2M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,749.7	−0.044%	$478K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,749.3	−0.059%	$14.0M	$112.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,751.9	+0.036%	$3.13B	$2.10B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,750.2	−0.026%	$31.5M	$333.9M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,748.2	−0.100%	$2.46B	$4.33B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,749.4	−0.055%	$2.8M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,750.2	−0.024%	$2.8M	$16.5M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,748.2	−0.097%	$15.1M	$41.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,753.3	+0.086%	$133.3M	$345.8M	—	as long as short
edgeX ETHUSDClong	+0.0100%	4h	2,750.9	long leg	$181.9M	$703.9M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,752	+0.038%	$160.0M	$83.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,752.7	+0.065%	$21.3M	$68.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,751.2	+0.010%	—	$869K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,750.4	−0.019%	$10.7M	$8.6M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,749.4	−0.055%	$182K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,750.1	−0.030%	$21K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,750.7	−0.007%	$41.8M	$29.5M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,747.8	−0.114%	$963K	$12.3M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,748.6	−0.084%	$54.7M	$187.7M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,748.6	−0.085%	$267.3M	$65.9M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,751.8	+0.032%	$165.7M	$300.7M	25x	as long as short
Aftermath Perps ETHUSD	+0.0102%	1h	2,751.2	+0.009%	$30K	$20K	20x	as long as short
Deribit ETH-PERPETUALshort	+0.0103%	1h	2,750	−0.034%	$258.5M	$199.9M	50x
Extended ETH-USD	+0.0104%	1h	2,748.2	−0.099%	$30.5M	$73.5M	50x	as long as short
Kalshi KXETHPERP	+0.0143%	8h	2,750.4	−0.019%	$7.7M	$674.8M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0172%	8h	2,751.6	+0.024%	$32.4M	$11.1M	100x	as long as short
Hibachi ETH/USDT-P	+0.0200%	1h	2,753.6	+0.098%	$250K	$1.5M	20x	as long as short
Injective ETH/USDC PERP	+0.0209%	1h	2,750.8	−0.004%	$118K	$22.5M	52x	as long as short
Reya ETHRUSDPERP	+0.0220%	1h	2,749.6	−0.049%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0354%	1h	2,749.3	−0.060%	$89.4M	$316.7M	100x	as long as short