Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.004%

Price spread now: SunX against edgeX−0.081%7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

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

costs, in and out, $10k−$210.211% of the position

Long on edgeX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 3 days (all we have)−0.082%−$8 · spread now −0.081%, 7d avg +0.008%

Together, before fees−0.106%+ Points / potential airdropedgeX: Active · farm board−$11 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: SunX is 0.089% cheaper against edgeX than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ETHUSDC	2,770.8	0.0100	pay 0.0050% / 4h	2h 04m	$179.5M	$782.6M	100x
Short	SunX ETH-USDT	2,768.6	0.0100	get 0.0100% / 8h	2h 04m	$971K	$14.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.081%Rate

Funding earned: $0
Price spread: −0.081% → +0.008%: −$8.89
Slippage, 4 orders: −$4.13
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$30.02
Costs to cover: 0.211%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 min ago; SunX: live order book, 5 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, 5 min ago	0.07 bp	4.9 bp −$5	4.9 bp −$49	5.1 bp −$508	6.5 bp −$3,248
Sell SunX live order book, 5 min ago	1.46 bp	5.9 bp −$6	6.0 bp −$60	7.7 bp −$772	9.6 bp −$4,823

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	−0.0112%	43m	2,769.3	−0.057%	$289K	$6.9M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0107%	1h	2,776.2	+0.193%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,769.7	−0.041%	$5K	$2K	50x	as long as short
01 Exchange ETHUSD	−0.0048%	1h	2,769.6	−0.045%	$171K	$1.2M	50x	as long as short
Phoenix ETH	−0.0023%	1h	2,770.9	+0.002%	$884K	$3.7M	25x	as long as short
RISEx ETH/USDC	−0.0011%	1h	2,769.8	−0.038%	$5.7M	$12.0M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,770.4	−0.018%	$12.7M	$45.5M	50x	as long as short
Aftermath Perps ETHUSD	+0.0006%	1h	2,772.5	+0.060%	$29K	$22K	20x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,770.1	−0.026%	$22.4M	—	200x	as long as short
BingX ETH-USDC	+0.0018%	8h	2,769.1	−0.062%	—	$17.4M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ETH-PERPETUAL	+0.0021%	1h	2,770.8	−0.002%	$258.5M	$225.1M	50x	as long as short
OKX ETH-USDT-SWAP	+0.0022%	8h	2,769.1	−0.063%	$1.71B	$11.88B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,770.1	−0.026%	$13.2M	—	200x	as long as short
Phemex ETHUSDT	+0.0031%	8h	2,769.8	−0.037%	$266.8M	$66.0M	150x	as long as short
ApeX Omni ETHUSDT	+0.0031%	1h	2,771	+0.007%	$8.7M	$32.6M	100x	as long as short
Aster ETHUSDT	+0.0032%	8h	2,769.1	−0.063%	$256.1M	$995.6M	200x	as long as short
Aevo ETH-PERP	+0.0048%	1h	2,767.2	−0.132%	$5.0M	$636K	20x	as long as short
MEXC ETH_USDT	+0.0051%	8h	2,769.2	−0.058%	$1.59B	$2.69B	500x	as long as short
Binance ETHUSDT	+0.0051%	8h	2,769.2	−0.058%	$6.43B	$17.23B	150x	as long as short
Bitget ETHUSDT	+0.0075%	8h	2,768.9	−0.069%	$2.10B	$3.12B	150x	as long as short
Gate ETH_USDT	+0.0076%	8h	2,769.3	−0.055%	$3.28B	$9.70B	200x	as long as short
Bullet ETH-USD	+0.0076%	1h	2,769.2	−0.059%	$183K	$1.8M	20x	as long as short
Lighter ETH	+0.0096%	1h	2,769.9	−0.035%	$114.6M	$515.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,771.3	+0.015%	$25.4M	$123.3M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,770.5	−0.012%	—	$41.8M	500x	as long as short
HTX ETH-USDT	+0.0098%	8h	2,769.1	−0.061%	$1.08B	$1.32B	200x	as long as short
Variational Omni ETH	+0.0098%	8h	2,768.9	−0.069%	$141.0M	$320.9M	—	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,769.2	−0.060%	$15.9M	$10.8M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,769.9	−0.034%	$485K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,769.1	−0.062%	$15.2M	$117.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,771.2	+0.013%	$3.19B	$2.40B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,770	−0.030%	$31.2M	$291.4M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,769.1	−0.063%	$2.51B	$4.64B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,769.2	−0.059%	$2.9M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,771.4	+0.018%	$2.8M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,770.6	−0.010%	$164.9M	$252.7M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,769.3	−0.057%	$421.9M	$742.1M	100x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,769.8	−0.039%	$15.4M	$42.9M	50x	as long as short
edgeX ETHUSDClong	+0.0100%	4h	2,770.8	long leg	$179.5M	$782.6M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,771.4	+0.022%	$161.2M	$97.3M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,770.7	−0.005%	$21.4M	$57.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,770.2	−0.025%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,770.8	−0.002%	$10.8M	$7.8M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,770.4	−0.016%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,771.8	+0.034%	$42.6M	$29.4M	15x	as long as short
SunX ETH-USDTshort	+0.0100%	8h	2,768.6	−0.081%	$971K	$14.1M	100x
SoDEX ETH-USD	+0.0100%	1h	2,769.2	−0.059%	$55.1M	$228.6M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,768.7	−0.077%	$31.4M	$75.4M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,770.6	−0.009%	$59.8M	$4.62B	50x	as long as short
Kalshi KXETHPERP	+0.0109%	8h	2,770.3	−0.020%	$8.5M	$674.2M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0135%	8h	2,772.3	+0.054%	$32.5M	$12.0M	100x	as long as short
BloFin ETH-USDT	+0.0171%	8h	2,769.2	−0.059%	$285.8M	$195.5M	150x	as long as short
Reya ETHRUSDPERP	+0.0185%	1h	2,769.2	−0.060%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0240%	1h	2,770.4	−0.015%	$86.1M	$331.7M	100x	as long as short
Hibachi ETH/USDT-P	+0.0472%	1h	2,771.5	+0.023%	$282K	$1.5M	20x	as long as short