Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.028%

Price spread now: edgeX against gTrade (Gains Network)−0.137%7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$180.181% of the position

Long on gTrade (Gains Network)Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.094%+$9 on $10k

Price spread, last 7 days+0.086%+$9 · spread now −0.137%, 7d avg −0.037%

Together, before fees+0.180%+ Points / potential airdropedgeX: Active · farm board+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.101% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.137% now, against its 7-day average of −0.037%). If the spread goes back, that is −$10 on $10k: about 3.6 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) ETH/USD	2,731.8	L +0.0007% / S −0.0006%	pay 0.0001% / 1h	20m 40s	$28.1M	—	200x
Short	edgeX ETHUSDC	2,728.1	0.0100	get 0.0050% / 4h	3h 20m	$183.5M	$671.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee edgeXbpOrdersPrice spread, now −0.137%Rate

Funding earned: $19.63
Price spread: −0.137% → −0.037%: −$10.08
Slippage, 4 orders: −$2.05
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$8.5
Costs to cover: 0.181%
Break-even: 10.0 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 3 min ago; edgeX: 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 gTrade (Gains Network) virtual book (oracle venue), 3 min ago	0.51 bp	4.0 bp −$4	4.1 bp −$41	5.0 bp −$501	8.9 bp −$4,452
Sell edgeX live order book, 4 min ago	0.15 bp	5.3 bp −$5	5.4 bp −$54	5.7 bp −$574	7.7 bp −$3,840

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	−0.038%	$297K	$5.6M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,731	−0.030%	$5K	$1K	50x	as long as short
HTX ETH-USDT	−0.0016%	8h	2,730.6	−0.043%	$1.06B	$1.20B	200x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,731.6	−0.006%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,731.7	−0.004%	$817K	$2.9M	25x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,731.2	−0.023%	$6.4M	$684.8M	4.9x	as long as short
gTrade (Gains Network) ETH/USDlong	L +0.0007% / S −0.0006%	1h	2,731.8	long leg	$28.1M	—	200x
dYdX ETH-USD	+0.0008%	1h	2,731.1	−0.027%	$10.7M	$42.1M	50x	as long as short
Bullet ETH-USD	+0.0024%	1h	2,731.2	−0.022%	$178K	$1.7M	20x	as long as short
BingX ETH-USDC	+0.0033%	8h	2,730.9	−0.032%	—	$18.5M	—	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	2,731.9	+0.004%	$2.36B	$4.38B	150x	as long as short
01 Exchange ETHUSD	+0.0048%	1h	2,732.4	+0.021%	$187K	$814K	50x	as long as short
Deribit ETH-PERPETUAL	+0.0054%	1h	2,732	+0.006%	$258.6M	$201.7M	50x	as long as short
SunX ETH-USDT	+0.0065%	8h	2,730.4	−0.052%	$957K	$11.2M	100x	as long as short
ApeX Omni ETHUSDT	+0.0066%	1h	2,728.1	−0.138%	$8.6M	$31.1M	100x	as long as short
KuCoin ETHUSDTM	+0.0066%	8h	2,730.8	−0.039%	$377.4M	$574.8M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0076%	8h	2,732.2	+0.013%	$1.67B	$10.76B	100x	as long as short
Aster ETHUSDT	+0.0080%	8h	2,732	+0.006%	$250.9M	$840.3M	200x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,729.3	−0.094%	$4.9M	$155K	20x	as long as short
SoDEX ETH-USD	+0.0081%	1h	2,730.8	−0.037%	$54.4M	$187.7M	40x	as long as short
Phemex ETHUSDT	+0.0082%	8h	2,730.2	−0.059%	$264.6M	$64.9M	150x	as long as short
MEXC ETH_USDT	+0.0086%	8h	2,731.9	+0.001%	$1.55B	$2.57B	500x	as long as short
Binance ETHUSDT	+0.0087%	8h	2,732	+0.006%	$6.33B	$15.94B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,731	−0.029%	$112.4M	$434.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,731.8	−0.001%	$23.4M	$104.5M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,730.5	−0.049%	—	$31.0M	500x	as long as short
Injective ETH/USDC PERP	+0.0096%	1h	2,733.1	+0.047%	$117K	$22.5M	52x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,731.5	−0.012%	$499K	$3.4M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,733.5	+0.063%	$15.6M	$8.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,729.9	−0.071%	$13.7M	$104.5M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,732.3	+0.018%	$3.09B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,732.5	+0.024%	$31.8M	$333.7M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,732	+0.007%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,732.6	+0.029%	$1.5M	$16.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,728.2	−0.132%	$169.5M	$307.4M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,732	+0.005%	$3.33B	$8.92B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,732	+0.007%	$2.07B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,730.4	−0.051%	$14.9M	$40.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,730.3	−0.054%	$134.3M	$322.7M	—	as long as short
edgeX ETHUSDCshort	+0.0100%	4h	2,728.1	−0.137%	$183.5M	$671.7M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,729.6	−0.081%	$158.8M	$86.9M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,729.6	−0.081%	$21.0M	$69.7M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,731.2	−0.023%	—	$844K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,732.8	+0.036%	$11.2M	$9.3M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,731.9	+0.001%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,733.1	+0.045%	$41.0M	$29.9M	15x	as long as short
Extended ETH-USD	+0.0104%	1h	2,731.3	−0.020%	$30.5M	$73.4M	50x	as long as short
RISEx ETH/USDC	+0.0107%	1h	2,732.6	+0.029%	$5.6M	$11.8M	25x	as long as short
Aftermath Perps ETHUSD	+0.0108%	1h	2,731.7	−0.003%	$30K	$20K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,731.7	−0.005%	$50.6M	$4.28B	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0153%	1h	2,731.5	−0.011%	$83.6M	$315.9M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0193%	8h	2,733.6	+0.065%	$32.1M	$11.6M	100x	as long as short
Reya ETHRUSDPERP	+0.0209%	1h	2,730.4	−0.053%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0240%	1h	2,728.7	−0.113%	$245K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0346%	8h	2,730.1	−0.062%	$282.9M	$174.8M	150x	as long as short