Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.052%

Price spread now: Reya against Gate+0.003%7-day average −0.025% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Gate Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.116%+$12 on $10k

Price spread, last 7 days−0.044%−$4 · spread now +0.003%, 7d avg −0.025%

Together, before fees+0.071%+ Points / potential airdropReya: Active · farm board+$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Reya is 0.028% dearer against Gate than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ETH_USDT	2,732.4	0.0100	pay 0.0100% / 8h	1h 57m	$3.28B	$8.91B	200x
Short	Reya ETHRUSDPERP	2,732.5	0.0196	get 0.0024% / 1h	57m 51s	$7.3M	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Gate. 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 GatebpFee ReyabpOrdersPrice spread, now +0.003%Rate

Funding earned: $20.07
Price spread: +0.003% → −0.025%: $2.85
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Reya: 3 bp × 2 orders: −$6
Net: $1.91
Costs to cover: 0.210%
Break-even: 6.3 days

Slippage unknown: Gate: live order book, 1 min ago; Reya: no order-book sample. Net counts fees only.

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 Gate live order book, 1 min ago	0.02 bp	7.5 bp −$8	7.5 bp −$75	10.6 bp −$1,063	19.9 bp −$9,968
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0112%	43m	2,733.5	+0.038%	$296K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,733.9	+0.054%	$5K	$1K	50x	as long as short
Injective ETH/USDC PERP	−0.0040%	1h	2,740	+0.277%	$118K	$22.5M	52x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,733.1	+0.023%	$12.0M	—	200x	as long as short
Phoenix ETH	−0.0009%	1h	2,736	+0.131%	$817K	$2.9M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,733.1	+0.024%	$10.5M	$42.9M	50x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,732.7	+0.010%	$260.2M	$211.2M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,732.8	+0.015%	$33.0M	—	200x	as long as short
HTX ETH-USDT	+0.0010%	8h	2,732.1	−0.013%	$1.05B	$1.22B	200x	as long as short
01 Exchange ETHUSD	+0.0024%	1h	2,734.8	+0.087%	$192K	$887K	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDT	+0.0035%	8h	2,732.5	+0.001%	—	$1.12B	—	as long as short
Bybit ETHUSDT	+0.0043%	8h	2,732.3	−0.005%	$2.35B	$4.42B	150x	as long as short
SoDEX ETH-USD	+0.0063%	1h	2,732.2	−0.008%	$54.4M	$187.5M	40x	as long as short
KuCoin ETHUSDTM	+0.0079%	8h	2,732.6	+0.006%	$375.3M	$577.8M	100x	as long as short
Aftermath Perps ETHUSD	+0.0084%	1h	2,734.8	+0.088%	$30K	$20K	20x	as long as short
SunX ETH-USDT	+0.0092%	8h	2,733.5	+0.038%	$957K	$11.1M	100x	as long as short
Bullet ETH-USD	+0.0095%	1h	2,732.9	+0.018%	$182K	$1.7M	20x	as long as short
OKX ETH-USDT-SWAP	+0.0096%	8h	2,732.3	−0.003%	$1.66B	$10.94B	100x	as long as short
Aster ETHUSDT	+0.0096%	8h	2,732.7	+0.011%	$253.2M	$848.6M	200x	as long as short
Lighter ETH	+0.0096%	1h	2,732.2	−0.010%	$112.3M	$430.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,733.1	+0.025%	$23.5M	$102.6M	50x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,729.8	−0.097%	$4.9M	$150K	20x	as long as short
Nado ETH-PERP	+0.0097%	1h	2,733.3	+0.033%	$14.1M	$105.5M	50x	as long as short
ApeX Omni ETHUSDT	+0.0098%	1h	2,734.5	+0.076%	$8.7M	$31.5M	100x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,733.8	+0.051%	$509K	$3.5M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,738.1	+0.209%	$15.3M	$8.0M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,734.4	+0.072%	$3.11B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,734.9	+0.091%	$32.0M	$334.2M	50x	as long as short
Binance ETHUSDT	+0.0100%	8h	2,732.1	−0.012%	$6.34B	$16.16B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,734	+0.058%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,734.7	+0.083%	$1.5M	$16.2M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,735	+0.094%	$163.2M	$327.7M	25x	as long as short
Gate ETH_USDTlong	+0.0100%	8h	2,732.4	long leg	$3.28B	$8.91B	200x
MEXC ETH_USDT	+0.0100%	8h	2,732.7	+0.010%	$1.53B	$2.57B	500x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,732.2	−0.010%	$2.09B	$2.78B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,732	−0.015%	$15.1M	$42.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,734	+0.057%	$134.8M	$325.9M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,734.5	+0.077%	$185.5M	$682.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,735.4	+0.109%	$159.1M	$87.6M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,733.7	+0.047%	$21.0M	$70.2M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,735	+0.096%	—	$879K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,735.1	+0.098%	$11.2M	$9.5M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,733.1	+0.026%	$22K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,733.9	+0.054%	$41.0M	$30.2M	15x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,732.6	+0.008%	$263.5M	$65.1M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,731.6	−0.029%	$30.3M	$74.2M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,732.6	+0.008%	—	$31.3M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,733.7	+0.048%	$50.3M	$4.32B	50x	as long as short
Kalshi KXETHPERP	+0.0115%	8h	2,733.6	+0.043%	$6.8M	$692.4M	4.9x	as long as short
RISEx ETH/USDC	+0.0115%	1h	2,735	+0.093%	$5.6M	$11.8M	25x	as long as short
Orderly PERP_ETH_USDC	+0.0187%	8h	2,734.7	+0.082%	$32.2M	$11.6M	100x	as long as short
Reya ETHRUSDPERPshort	+0.0196%	1h	2,732.5	+0.003%	$7.3M	$1.1M	25x
Kraken Futures PF_ETHUSD	+0.0210%	1h	2,732.5	+0.002%	$83.5M	$311.3M	100x	as long as short
Hibachi ETH/USDT-P	+0.0280%	1h	2,733.3	+0.031%	$248K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0400%	8h	2,732	−0.016%	$281.4M	$175.2M	150x	as long as short