Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0035%/8h= +3.9% APRpaid last 24h +0.010%

Price spread now: Gate against gTrade (Gains Network)−0.062%89s7-day average −0.008% · 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—prices read too far apart to compare

costs, in and out, $10k−$230.231% of the position

Long on gTrade (Gains Network)Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.033%+$3 on $10k

Price spread, last 7 days+0.052%+$5 · spread now −0.062%, 7d avg −0.008%

Together, before fees+0.084%+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.054% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.062% now, against its 7-day average of −0.008%). If the spread goes back, that is −$5 on $10k: about 5.1 days of funding at the current rate (+$1 a day). The two prices were read 89 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) ETH/USD	2,749.4	L +0.0007% / S −0.0006%	pay 0.0001% / 1h	0m 44s	$33.2M	—	200x
Short	Gate ETH_USDT	2,747.7	0.0042	get 0.0042% / 8h	7h 00m	$3.28B	$8.57B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.062%Rate

Funding earned: $7.44
Price spread: −0.062% → −0.008%: −$5.42
Slippage, 4 orders: −$1.13
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$21.11
Costs to cover: 0.231%
Break-even: 26.9 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 13 min ago; Gate: 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 gTrade (Gains Network) virtual book (oracle venue), 13 min ago	0.53 bp	4.0 bp −$4	4.1 bp −$41	5.0 bp −$501	8.9 bp −$4,449
Sell Gate live order book, 3 min ago	0.02 bp	7.5 bp −$8	7.5 bp −$75	10.1 bp −$1,013	19.4 bp −$9,709

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	2,750	+0.021%	$5K	$1K	50x	as long as short
Bybit ETHUSDT	−0.0035%	8h	2,747.3	−0.076%	$2.36B	$4.15B	150x	as long as short
Hibachi ETH/USDT-P	−0.0016%	1h	2,750.4	+0.037%	$236K	$1.3M	20x	as long as short
Phoenix ETH	−0.0012%	1h	2,751.4	+0.072%	$814K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,748.9	−0.020%	$12.0M	—	200x	as long as short
Phemex ETHUSDT	−0.0001%	8h	2,748.6	−0.031%	$264.5M	$61.4M	150x	as long as short
dYdX ETH-USD	0.0000%	1h	2,750.5	+0.040%	$11.1M	$41.5M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,749.7	+0.011%	$6.8M	$664.3M	4.9x	as long as short
Perpl ETH	0.0000%	43m	2,749.2	−0.008%	$273K	$5.3M	8.3x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,749.5	+0.004%	$266.4M	$209.8M	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/USDlong	L +0.0007% / S −0.0006%	1h	2,749.4	long leg	$33.2M	—	200x
01 Exchange ETHUSD	+0.0016%	1h	2,749.6	+0.007%	$182K	$927K	50x	as long as short
Gate ETH_USDTshort	+0.0042%	8h	2,747.7	−0.062%	$3.28B	$8.57B	200x
OKX ETH-USDT-SWAP	+0.0070%	8h	2,747.4	−0.074%	$1.67B	$10.21B	100x	as long as short
Aster ETHUSDT	+0.0072%	8h	2,747.8	−0.058%	$253.5M	$796.9M	200x	as long as short
ApeX Omni ETHUSDT	+0.0075%	1h	2,751.7	+0.084%	$8.4M	$30.4M	100x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,746.2	−0.118%	$4.9M	$200K	20x	as long as short
HTX ETH-USDT	+0.0081%	8h	2,748	−0.052%	$1.05B	$1.16B	200x	as long as short
Binance ETHUSDT	+0.0082%	8h	2,748	−0.052%	$6.40B	$15.45B	150x	as long as short
MEXC ETH_USDT	+0.0082%	8h	2,748	−0.051%	$1.58B	$2.63B	500x	as long as short
KuCoin ETHUSDTM	+0.0089%	8h	2,747.5	−0.071%	$367.7M	$482.1M	100x	as long as short
SoDEX ETH-USD	+0.0093%	1h	2,748.3	−0.040%	$54.7M	$160.1M	40x	as long as short
Lighter ETH	+0.0096%	1h	2,748.6	−0.031%	$113.6M	$411.8M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,749.9	+0.019%	$24.8M	$100.7M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,748.9	−0.019%	—	$24.7M	500x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,750.1	+0.025%	$504K	$3.6M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,754.9	+0.201%	$15.7M	$6.5M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,748.8	−0.021%	$14.6M	$100.5M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,749.9	+0.016%	$3.13B	$1.94B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,751	+0.056%	$32.2M	$327.9M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,749	−0.015%	$2.8M	$15.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,750.4	+0.036%	$1.5M	$15.2M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,751.4	+0.071%	$166.7M	$340.7M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,747.6	−0.064%	$2.11B	$2.55B	150x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,747.7	−0.061%	—	$990.0M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,747.7	−0.063%	$15.0M	$37.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,746.4	−0.109%	$131.8M	$307.2M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,752.5	+0.111%	$186.5M	$693.5M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,751.4	+0.074%	$160.0M	$73.8M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,751.3	+0.069%	$21.1M	$72.0M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,751.1	+0.062%	—	$415K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,750.2	+0.029%	$11.3M	$9.0M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,748.8	−0.022%	$177K	$1.7M	20x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,748.5	−0.035%	$947K	$10.0M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,746.4	−0.109%	$30.4M	$68.6M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0104%	1h	2,748.9	−0.019%	$82.6M	$291.0M	100x	as long as short
Aftermath Perps ETHUSD	+0.0110%	1h	2,750.2	+0.028%	$30K	$12K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,749.1	−0.010%	$45.6M	$4.12B	50x	as long as short
RISEx ETH/USDC	+0.0137%	1h	2,751.4	+0.074%	$5.6M	$11.3M	25x	as long as short
Reya ETHRUSDPERP	+0.0167%	1h	2,747.3	−0.076%	$7.3M	$885K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0181%	8h	2,750.8	+0.050%	$32.4M	$10.5M	100x	as long as short
Injective ETH/USDC PERP	+0.0253%	1h	2,753.6	+0.152%	$122K	$23.9M	52x	as long as short
BloFin ETH-USDT	+0.0260%	8h	2,748	−0.050%	$282.1M	$169.9M	150x	as long as short
Bluefin ETH-PERP	+0.0558%	1h	2,749.4	0.000%	$20K	$15K	25x	as long as short