Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.010%

Price spread now: SoDEX against edgeX+0.034%45s7-day average +0.009% · 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—prices read too far apart to compare

costs, in and out, $10k−$190.189% of the position

Long on edgeX Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.025%−$2 on $10k

Price spread, last 4 days (all we have)−0.051%−$5 · spread now +0.034%, 7d avg +0.009%

Together, before fees−0.076%+ Points / potential airdropedgeX: Active · farm board−$8 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: SoDEX is 0.025% dearer against edgeX than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.009%. The two prices were read 45 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	2,725.2	0.0100	pay 0.0050% / 4h	17m 29s	$185.4M	$683.1M	100x
Short	SoDEX ETH-USD	2,726.1	0.0100	get 0.0013% / 1h	17m 29s	$54.3M	$182.7M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.034%Rate

Funding earned: $0
Price spread: +0.034% → +0.009%: $2.47
Slippage, 4 orders: −$1.86
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$16.4
Costs to cover: 0.189%
Break-even: never at this rate

Slippage from edgeX: live order book, 2 min ago; SoDEX: live order book, 2 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, 2 min ago	0.26 bp	5.7 bp −$6	5.7 bp −$57	5.9 bp −$592	7.6 bp −$3,821
Sell SoDEX live order book, 2 min ago	0.18 bp	4.2 bp −$4	4.3 bp −$43	5.8 bp −$576	34.4 bp −$17.2K

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	2,726	+0.031%	$276K	$5.7M	8.3x	as long as short
BloFin ETH-USDT	−0.0177%	8h	2,726	+0.030%	$281.9M	$177.6M	150x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,725.8	+0.023%	$5K	$1K	50x	as long as short
Phoenix ETH	−0.0015%	1h	2,727	+0.067%	$809K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,726.3	+0.041%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,726.4	+0.045%	$10.5M	$41.9M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,726.9	+0.063%	$6.7M	$678.3M	4.9x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,726.8	+0.059%	$263.6M	$213.9M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,726.7	+0.055%	$32.9M	—	200x	as long as short
BingX ETH-USDC	+0.0017%	8h	2,725.5	+0.012%	—	$18.6M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0020%	8h	2,725.3	+0.005%	$2.32B	$4.34B	150x	as long as short
HTX ETH-USDT	+0.0031%	8h	2,726.1	+0.033%	$1.05B	$1.22B	200x	as long as short
01 Exchange ETHUSD	+0.0032%	1h	2,726.6	+0.052%	$190K	$884K	50x	as long as short
Injective ETH/USDC PERP	+0.0050%	1h	2,730.5	+0.196%	$166K	$21.6M	52x	as long as short
Hibachi ETH/USDT-P	+0.0056%	1h	2,727.1	+0.069%	$242K	$1.4M	20x	as long as short
Kraken Futures PF_ETHUSD	+0.0060%	1h	2,726.8	+0.058%	$81.9M	$310.8M	100x	as long as short
ApeX Omni ETHUSDT	+0.0068%	1h	2,726.3	+0.041%	$8.5M	$31.4M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0072%	8h	2,725.4	+0.007%	$1.65B	$10.79B	100x	as long as short
KuCoin ETHUSDTM	+0.0074%	8h	2,725.6	+0.015%	$382.4M	$576.9M	100x	as long as short
Aster ETHUSDT	+0.0078%	8h	2,726	+0.030%	$252.6M	$848.2M	200x	as long as short
MEXC ETH_USDT	+0.0088%	8h	2,726.2	+0.036%	$1.58B	$2.59B	500x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,723.8	−0.050%	$4.9M	$172K	20x	as long as short
Binance ETHUSDT	+0.0090%	8h	2,725.6	+0.018%	$6.30B	$16.11B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,726.7	+0.055%	$112.3M	$433.1M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,727.8	+0.098%	$23.4M	$102.4M	50x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,726.1	+0.033%	$262.6M	$64.5M	150x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,725.8	+0.023%	$500K	$3.6M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,730.6	+0.200%	$15.3M	$7.5M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,725.6	+0.014%	$14.0M	$104.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,727.9	+0.100%	$3.10B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,727.2	+0.073%	$32.1M	$333.3M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,726	+0.030%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,726.3	+0.042%	$1.6M	$16.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,725.9	+0.025%	$3.30B	$8.94B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,725.6	+0.016%	$2.11B	$2.77B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,725.9	+0.026%	$15.0M	$40.5M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,722.2	−0.108%	$133.6M	$316.4M	—	as long as short
edgeX ETHUSDClong	+0.0100%	4h	2,725.2	long leg	$185.4M	$683.1M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,726.9	+0.064%	$158.5M	$82.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,726.4	+0.045%	$20.9M	$70.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,727.4	+0.082%	—	$445K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,726.9	+0.063%	$11.2M	$9.4M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,726.1	+0.034%	$182K	$1.7M	20x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,727.6	+0.090%	$40.8M	$29.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,725.8	+0.022%	$956K	$10.8M	100x	as long as short
SoDEX ETH-USDshort	+0.0100%	1h	2,726.1	+0.034%	$54.3M	$182.7M	40x
Bulk ETH-USD	+0.0100%	1h	2,726.7	+0.057%	$161.2M	$356.8M	25x	as long as short
Aftermath Perps ETHUSD	+0.0101%	1h	2,725.6	+0.014%	$30K	$20K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,724.9	−0.012%	$30.4M	$71.5M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0056%	1h	2,726.4	+0.046%	—	$30.2M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,727.7	+0.092%	$46.6M	$4.27B	50x	as long as short
RISEx ETH/USDC	+0.0114%	1h	2,726.3	+0.040%	$5.6M	$11.7M	25x	as long as short
Reya ETHRUSDPERP	+0.0179%	1h	2,724.9	−0.010%	$7.3M	$972K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0184%	8h	2,728.5	+0.121%	$32.2M	$11.2M	100x	as long as short
Bluefin ETH-PERP	+0.0384%	1h	2,726.6	+0.053%	$20K	$23K	25x	as long as short