Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0009%/8h= −1.0% APRpaid last 24h −0.001%

Price spread now: SunX against Extended+0.085%7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$160.159% of the position

Long on Extended Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 4 days (all we have)−0.328%−$33 · spread now +0.085%, 7d avg +0.012%

Together, before fees−0.348%+ Points / potential airdropExtended: Active · farm board−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.073% dearer against Extended than usual: you sell high and buy low (spread +0.085% now, against its 7-day average of +0.012%): +$7 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 26 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ETH-USD	2,731.1	0.0104	pay 0.0013% / 1h	54m 37s	$30.0M	$69.3M	50x
Short	SunX ETH-USDT	2,733.5	0.0095	get 0.0095% / 8h	6h 54m	$942K	$9.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.085%Rate

Funding earned: −$1.97
Price spread: +0.085% → +0.012%: $7.29
Slippage, 4 orders: −$2.89
Fee Extended: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: −$10.58
Costs to cover: 0.159%
Break-even: never at this rate

Slippage from Extended: live order book, 4 min ago; SunX: live order book, 4 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, 4 min ago	0.18 bp	2.7 bp −$3	2.7 bp −$27	3.5 bp −$349	10.8 bp −$5,397
Sell SunX live order book, 4 min ago	0.55 bp	4.5 bp −$5	5.2 bp −$52	7.7 bp −$768	10.3 bp −$5,141

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
Hotstuff ETH-PERP	−0.0080%	1h	2,731.3	+0.006%	$5K	$1K	50x	as long as short
ApeX Omni ETHUSDT	−0.0050%	1h	2,743.9	+0.468%	$8.3M	$30.3M	100x	as long as short
Bybit ETHUSDT	−0.0038%	8h	2,731.6	+0.018%	$2.34B	$4.15B	150x	as long as short
Hibachi ETH/USDT-P	−0.0032%	1h	2,743.9	+0.466%	$236K	$1.3M	20x	as long as short
Phoenix ETH	−0.0012%	1h	2,747.5	+0.599%	$813K	$2.9M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,733.5	+0.088%	$12.0M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,731.8	+0.023%	$11.5M	$41.9M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,736.9	+0.211%	$6.5M	$664.7M	4.9x	as long as short
Perpl ETH	0.0000%	43m	2,733.6	+0.090%	$270K	$5.3M	8.3x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,735	+0.140%	$266.4M	$208.0M	50x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,749.8	+0.683%	$33.2M	—	200x	as long as short
Gate ETH_USDT	+0.0030%	8h	2,731.9	+0.027%	$3.25B	$7.70B	200x	as long as short
01 Exchange ETHUSD	+0.0048%	1h	2,733.9	+0.101%	$195K	$961K	50x	as long as short
HTX ETH-USDT	+0.0057%	8h	2,733.2	+0.075%	$1.05B	$1.17B	200x	as long as short
Aster ETHUSDT	+0.0066%	8h	2,730.3	−0.032%	$251.6M	$799.2M	200x	as long as short
OKX ETH-USDT-SWAP	+0.0067%	8h	2,731.5	+0.012%	$1.65B	$10.17B	100x	as long as short
Binance ETHUSDT	+0.0076%	8h	2,732.8	+0.062%	$6.38B	$15.54B	150x	as long as short
MEXC ETH_USDT	+0.0078%	8h	2,730.2	−0.035%	$1.55B	$2.47B	500x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,737.2	+0.224%	$4.9M	$202K	20x	as long as short
Kraken Futures PF_ETHUSD	+0.0080%	1h	2,734.4	+0.121%	$81.9M	$291.5M	100x	as long as short
KuCoin ETHUSDTM	+0.0088%	8h	2,730.6	−0.020%	$364.8M	$480.6M	100x	as long as short
SoDEX ETH-USD	+0.0094%	1h	2,734.1	+0.109%	$54.4M	$160.1M	40x	as long as short
SunX ETH-USDTshort	+0.0095%	8h	2,733.5	+0.085%	$942K	$9.9M	100x
Lighter ETH	+0.0096%	1h	2,730.6	−0.019%	$112.7M	$380.9M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,731.4	+0.009%	$24.5M	$92.3M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,742.9	+0.429%	—	$24.6M	500x	as long as short
Aftermath Perps ETHUSD	+0.0098%	1h	2,746	+0.544%	$30K	$12K	20x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,733.5	+0.087%	$15.7M	$6.6M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,732.7	+0.058%	$504K	$3.6M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,734.9	+0.139%	$14.5M	$100.2M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,733.6	+0.090%	$3.11B	$1.94B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,730.9	−0.009%	$31.9M	$326.2M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,731.7	+0.021%	$2.8M	$15.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,732.9	+0.064%	$1.5M	$15.3M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,731.9	+0.029%	$2.10B	$2.56B	150x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,731.9	+0.028%	—	$992.6M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,732.2	+0.041%	$14.8M	$37.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,741.8	+0.389%	$131.3M	$306.5M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,742.8	+0.428%	$185.9M	$691.2M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,746	+0.543%	$159.7M	$73.1M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,744.9	+0.504%	$21.1M	$72.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,738.3	+0.261%	—	$412K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,735.4	+0.156%	$11.2M	$8.9M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,733.6	+0.090%	$177K	$1.7M	20x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,734.5	+0.123%	$263.1M	$59.4M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,743.1	+0.438%	$167.4M	$334.6M	25x	as long as short
Extended ETH-USDlong	+0.0104%	1h	2,731.1	long leg	$30.0M	$69.3M	50x
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,735	+0.141%	$45.2M	$4.07B	50x	as long as short
Reya ETHRUSDPERP	+0.0166%	1h	2,734.2	+0.111%	$7.3M	$885K	25x	as long as short
RISEx ETH/USDC	+0.0167%	1h	2,733.3	+0.081%	$5.6M	$11.2M	25x	as long as short
Orderly PERP_ETH_USDC	+0.0181%	8h	2,736.6	+0.202%	$32.3M	$10.5M	100x	as long as short
BloFin ETH-USDT	+0.0271%	8h	2,733.4	+0.084%	$281.1M	$164.3M	150x	as long as short
Injective ETH/USDC PERP	+0.0308%	1h	2,743.4	+0.449%	$118K	$19.9M	52x	as long as short
Bluefin ETH-PERP	+0.1267%	1h	2,734.7	+0.129%	$20K	$15K	25x	as long as short