Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.004%

Price spread now: HTX against Extended+0.043%7-day average +0.017% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$170.174% of the position

Long on Extended Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.070%−$7 on $10k

Price spread, last 4 days (all we have)−0.068%−$7 · spread now +0.043%, 7d avg +0.017%

Together, before fees−0.138%+ Points / potential airdropExtended: Active · farm board−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.026% dearer against Extended than usual: you sell high and buy low (spread +0.043% now, against its 7-day average of +0.017%): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 18 hours. At the pace of the last 7 days (−0.070% in total) that is about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ETH-USD	2,729.5	0.0104	pay 0.0013% / 1h	21m 01s	$30.6M	$73.4M	50x
Short	HTX ETH-USDT	2,730.6	−0.0016	pay 0.0016% / 8h	3h 21m	$1.06B	$1.20B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Extended. 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 ExtendedbpFee HTXbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$25.13
Price spread: +0.043% → +0.017%: $2.62
Slippage, 4 orders: −$0.4
Fee Extended: 2.5 bp × 2 orders: −$5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$39.92
Costs to cover: 0.174%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; HTX: 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 Extended live order book, 3 min ago	0.18 bp	2.7 bp −$3	2.7 bp −$27	3.7 bp −$368	10.7 bp −$5,331
Sell HTX live order book, 3 min ago	0.02 bp	6.0 bp −$6	6.2 bp −$62	9.3 bp −$934	12.1 bp −$6,047

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	−0.0335%	43m	2,730.8	+0.048%	$297K	$5.6M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,731.4	+0.071%	$5K	$1K	50x	as long as short
HTX ETH-USDTshort	−0.0016%	8h	2,730.6	+0.043%	$1.06B	$1.20B	200x
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,731.6	+0.080%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,731.7	+0.082%	$817K	$2.9M	25x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,731.2	+0.064%	$6.4M	$684.8M	4.9x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,731.8	+0.087%	$28.1M	—	200x	as long as short
dYdX ETH-USD	+0.0008%	1h	2,731.1	+0.059%	$10.7M	$42.1M	50x	as long as short
Bullet ETH-USD	+0.0024%	1h	2,731.2	+0.065%	$178K	$1.7M	20x	as long as short
BingX ETH-USDC	+0.0033%	8h	2,729.2	−0.010%	—	$18.4M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0036%	8h	2,729.9	+0.016%	$2.36B	$4.38B	150x	as long as short
01 Exchange ETHUSD	+0.0048%	1h	2,731.6	+0.078%	$187K	$815K	50x	as long as short
Deribit ETH-PERPETUAL	+0.0054%	1h	2,732	+0.093%	$258.6M	$201.7M	50x	as long as short
SunX ETH-USDT	+0.0065%	8h	2,730.4	+0.035%	$957K	$11.2M	100x	as long as short
ApeX Omni ETHUSDT	+0.0066%	1h	2,728.1	−0.052%	$8.6M	$31.1M	100x	as long as short
KuCoin ETHUSDTM	+0.0066%	8h	2,730.3	+0.030%	$377.4M	$574.1M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0076%	8h	2,730.2	+0.027%	$1.67B	$10.75B	100x	as long as short
Aster ETHUSDT	+0.0079%	8h	2,730.2	+0.028%	$250.7M	$841.2M	200x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,729.3	−0.007%	$4.9M	$155K	20x	as long as short
SoDEX ETH-USD	+0.0081%	1h	2,730.8	+0.049%	$54.4M	$187.7M	40x	as long as short
Phemex ETHUSDT	+0.0082%	8h	2,730.2	+0.027%	$264.6M	$64.9M	150x	as long as short
Binance ETHUSDT	+0.0087%	8h	2,730.3	+0.032%	$6.33B	$15.94B	150x	as long as short
MEXC ETH_USDT	+0.0087%	8h	2,730.2	+0.027%	$1.55B	$2.57B	500x	as long as short
Lighter ETH	+0.0096%	1h	2,731	+0.056%	$112.4M	$434.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,731.9	+0.089%	$23.4M	$104.5M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,730.5	+0.037%	—	$31.0M	500x	as long as short
Injective ETH/USDC PERP	+0.0096%	1h	2,733.1	+0.133%	$117K	$22.5M	52x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,730.4	+0.035%	$499K	$3.4M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,731.8	+0.086%	$15.6M	$8.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,729.9	+0.015%	$13.7M	$104.5M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,732.4	+0.108%	$3.09B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,732	+0.093%	$31.8M	$333.7M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,729.5	+0.002%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,731.5	+0.076%	$1.5M	$16.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,728.2	−0.045%	$169.5M	$307.4M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,730.1	+0.023%	$3.33B	$8.92B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,730.2	+0.027%	$2.07B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,730.4	+0.036%	$14.9M	$40.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,730.3	+0.033%	$134.3M	$322.7M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,728.1	−0.051%	$183.5M	$671.7M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,729.6	+0.006%	$158.8M	$86.9M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,729.6	+0.005%	$21.0M	$69.7M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,731.2	+0.064%	—	$844K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,732.8	+0.122%	$11.2M	$9.3M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,731.9	+0.088%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,733.1	+0.132%	$41.0M	$29.9M	15x	as long as short
Extended ETH-USDlong	+0.0104%	1h	2,729.5	long leg	$30.6M	$73.4M	50x
RISEx ETH/USDC	+0.0107%	1h	2,731.5	+0.075%	$5.6M	$11.8M	25x	as long as short
Aftermath Perps ETHUSD	+0.0108%	1h	2,731.7	+0.083%	$30K	$20K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,731.7	+0.081%	$50.6M	$4.28B	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0153%	1h	2,731.5	+0.076%	$83.6M	$315.9M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0193%	8h	2,733.6	+0.151%	$32.1M	$11.6M	100x	as long as short
Reya ETHRUSDPERP	+0.0209%	1h	2,730.4	+0.033%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0240%	1h	2,728.7	−0.027%	$245K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0346%	8h	2,730.1	+0.025%	$282.9M	$174.8M	150x	as long as short