Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h −0.017%

Price spread now: 01 Exchange against edgeX+0.070%7-day average +0.026% · 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−$21as in the Price arb table

costs, in and out, $10k−$250.253% of the position

Long on edgeX Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.070%−$7 on $10k

Price spread, last 7 days−0.039%−$4 · spread now +0.070%, 7d avg +0.026%

Together, before fees−0.109%+ Points / potential airdropedgeX: Active · farm board−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. 01 Exchange is 0.044% dearer against edgeX than usual: you sell high and buy low (spread +0.070% now, against its 7-day average of +0.026%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.2 days. At the pace of the last 4 days (−0.070% in total) that is about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ETHUSDC	2,747.4	0.0100	pay 0.0050% / 4h	1h 56m	$185.1M	$624.7M	100x
Short	01 Exchange ETHUSD	2,749.3	0.0072	get 0.0009% / 1h	56m 38s	$182K	$951K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.070%Rate

Funding earned: −$5.88
Price spread: +0.070% → +0.026%: $4.36
Slippage, 4 orders: −$9.27
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$26.79
Costs to cover: 0.253%
Break-even: never at this rate

Slippage from edgeX: live order book, 1 min ago; 01 Exchange: live order book, 55 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, 1 min ago	0.02 bp	4.9 bp −$5	4.9 bp −$49	5.0 bp −$504	6.5 bp −$3,260
Sell 01 Exchange live order book, 55 min ago	0.18 bp	8.7 bp −$9	11.6 bp −$116	doesn't fit	doesn't fit

ETH on 54 exchanges

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
Hibachi ETH/USDT-P	−0.0128%	1h	2,750.1	+0.099%	$235K	$1.2M	20x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,749.4	+0.074%	$5K	$1K	50x	as long as short
Phoenix ETH	−0.0023%	1h	2,750	+0.096%	$809K	$2.8M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0009% / S +0.0043%	1h	2,749.7	+0.085%	$12.2M	—	200x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,749.5	+0.077%	$7.3M	$661.5M	4.9x	as long as short
Perpl ETH	0.0000%	43m	2,749.9	+0.092%	$269K	$5.0M	8.3x	as long as short
Bybit ETHUSDT	+0.0002%	8h	2,748.7	+0.050%	$2.37B	$3.83B	150x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,749.5	+0.078%	$33.2M	—	200x	as long as short
ApeX Omni ETHUSDT	+0.0024%	1h	2,748.5	+0.041%	$8.3M	$25.3M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0068%	8h	2,748.4	+0.037%	$1.67B	$9.26B	100x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ETHUSDshort	+0.0072%	1h	2,749.3	+0.070%	$182K	$951K	50x
Gate ETH_USDT	+0.0082%	8h	2,748.6	+0.043%	$3.27B	$7.68B	200x	as long as short
Aster ETHUSDT	+0.0084%	8h	2,749.5	+0.077%	$257.6M	$722.5M	200x	as long as short
KuCoin ETHUSDTM	+0.0088%	8h	2,749.6	+0.082%	$365.4M	$442.5M	100x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,747.5	+0.004%	$4.9M	$214K	20x	as long as short
Deribit ETH-PERPETUAL	+0.0088%	1h	2,750.4	+0.111%	$266.7M	$185.9M	50x	as long as short
MEXC ETH_USDT	+0.0090%	8h	2,748.7	+0.048%	$1.60B	$2.34B	500x	as long as short
Binance ETHUSDT	+0.0090%	8h	2,749.3	+0.069%	$6.41B	$14.08B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,750.1	+0.097%	$114.0M	$382.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,750.9	+0.128%	$23.7M	$93.7M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,749	+0.061%	—	$23.6M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0096%	1h	2,750.5	+0.114%	$46.2M	$3.91B	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,748.4	+0.037%	$507K	$3.5M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,748.5	+0.042%	$14.6M	$96.2M	50x	as long as short
Pacifica ETH	+0.0100%	1h	2,750.2	+0.103%	$32.4M	$325.1M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,748.7	+0.048%	$2.8M	$14.2M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,749.6	+0.081%	$1.5M	$14.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,749.3	+0.069%	$164.5M	$330.2M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,748.6	+0.045%	$2.11B	$2.31B	150x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,747.9	+0.020%	—	$18.5M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,748.7	+0.049%	$14.9M	$36.3M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,747.4	+0.002%	$132.5M	$292.4M	—	as long as short
edgeX ETHUSDClong	+0.0100%	4h	2,747.4	long leg	$185.1M	$624.7M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,750.1	+0.099%	$159.9M	$69.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,750.6	+0.117%	$21.1M	$75.7M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,750.5	+0.112%	—	$352K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,750.4	+0.110%	$11.3M	$8.6M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,749.7	+0.086%	$178K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,749.3	+0.070%	$20K	$14K	25x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,748.5	+0.042%	$947K	$8.7M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,749.4	+0.074%	$61.9M	$121.8M	40x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,749.7	+0.086%	$1.05B	$1.05B	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,749.5	+0.076%	$264.3M	$57.4M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,747.6	+0.008%	$30.5M	$65.3M	50x	as long as short
Aftermath Perps ETHUSD	+0.0104%	1h	2,749.1	+0.061%	$30K	$8K	20x	as long as short
Kraken Futures PF_ETHUSD	+0.0105%	1h	2,749.9	+0.090%	$82.5M	$275.3M	100x	as long as short
Reya ETHRUSDPERP	+0.0157%	1h	2,747.7	+0.013%	$7.3M	$832K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0175%	8h	2,751.8	+0.160%	$32.5M	$10.0M	100x	as long as short
dYdX ETH-USD	+0.0189%	1h	2,749.3	+0.069%	$15.3M	$42.8M	50x	as long as short
RISEx ETH/USDC	+0.0206%	1h	2,749.6	+0.080%	$5.7M	$10.6M	25x	as long as short
Hyperliquid ETH	+0.0244%	1h	2,752.6	+0.190%	$3.16B	$1.75B	25x	as long as short
BloFin ETH-USDT	+0.0361%	8h	2,749.4	+0.075%	$283.3M	$149.9M	150x	as long as short
Injective ETH/USDC PERP	+0.0461%	1h	2,751.5	+0.150%	$118K	$21.7M	52x	as long as short
Paradex ETH-USD-PERP	+0.0516%	8h	2,753.3	+0.216%	$15.9M	$6.2M	50x	as long as short