Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0114%/8h= −12.5% APRpaid last 24h −0.033%

Price spread now: Aster against Hibachi+0.033%7-day average −0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs+$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$210.215% of the position

Long on Hibachi Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.255%+$26 on $10k

Price spread, last 7 days−0.068%−$7 · spread now +0.033%, 7d avg −0.024%

Together, before fees+0.187%+ Points / potential airdropHibachi: Active · Aster: Stage 5 · farm board+$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.056% dearer against Hibachi than usual: you sell high and buy low (spread +0.033% now, against its 7-day average of −0.024%): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 39 hours. Mind the row above: over the last 7 days funding on this pair paid +0.255%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi ETH/USDT-P	2,770.1	0.0152	pay 0.0019% / 1h	31m 25s	$252K	$1.5M	20x
Short	Aster ETHUSDT	2,771.1	0.0038	get 0.0038% / 8h	7h 31m	$256.7M	$886.3M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Hibachi. 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 HibachibpFee AsterbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$23.9
Price spread: +0.033% → −0.024%: $5.6
Slippage, 4 orders: −$4.45
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$39.74
Costs to cover: 0.215%
Break-even: never at this rate

Slippage from Hibachi: live order book, 3 min ago; Aster: 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 Hibachi live order book, 3 min ago	1.08 bp	7.3 bp −$7	12.7 bp −$127	doesn't fit	doesn't fit
Sell Aster live order book, 3 min ago	0.02 bp	4.0 bp −$4	4.0 bp −$40	5.1 bp −$506	10.7 bp −$5,330

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
Injective ETH/USDC PERP	−0.0752%	1h	2,772.9	+0.099%	$119K	$22.5M	52x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,771.7	+0.057%	$5.6M	$11.2M	25x	as long as short
Perpl ETH	−0.0112%	43m	2,770.9	+0.026%	$321K	$6.4M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,772.1	+0.070%	$5K	$1K	50x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,771.3	+0.042%	$168K	$1.1M	50x	as long as short
Phoenix ETH	−0.0003%	1h	2,771.1	+0.034%	$878K	$3.7M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,772	+0.066%	$12.2M	$45.9M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,771.7	+0.055%	$22.4M	—	200x	as long as short
Bullet ETH-USD	+0.0022%	1h	2,770.9	+0.027%	$183K	$1.7M	20x	as long as short
OKX ETH-USDT-SWAP	+0.0025%	8h	2,770.4	+0.010%	$1.71B	$11.20B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX ETH/USD [ETH-USDC]	L +0.0025% / S +0.0009%	1h	2,771.5	+0.048%	$12.7M	—	200x	as long as short
SoDEX ETH-USD	+0.0034%	1h	2,769.4	−0.027%	$55.2M	$188.0M	40x	as long as short
Aster ETHUSDTshort	+0.0038%	8h	2,771.1	+0.033%	$256.7M	$886.3M	200x
MEXC ETH_USDT	+0.0054%	8h	2,771	+0.029%	$1.62B	$2.63B	500x	as long as short
Binance ETHUSDT	+0.0054%	8h	2,770.9	+0.028%	$6.47B	$16.36B	150x	as long as short
Phemex ETHUSDT	+0.0054%	8h	2,769.8	−0.014%	$269.6M	$67.5M	150x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,767	−0.115%	$5.0M	$165K	20x	as long as short
Aftermath Perps ETHUSD	+0.0065%	1h	2,772	+0.067%	$31K	$23K	20x	as long as short
HTX ETH-USDT	+0.0066%	8h	2,769.2	−0.035%	$1.08B	$1.26B	200x	as long as short
Bitget ETHUSDT	+0.0072%	8h	2,771.3	+0.042%	$2.10B	$2.88B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,771	+0.029%	$60.4M	$4.45B	50x	as long as short
Vest ETH-PERP	+0.0082%	1h	2,771.2	+0.040%	—	$876K	50x	as long as short
KuCoin ETHUSDTM	+0.0083%	8h	2,771.1	+0.034%	$420.5M	$631.7M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,771.6	+0.051%	$115.3M	$457.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,772.8	+0.095%	$25.7M	$111.3M	50x	as long as short
Gate ETH_USDT	+0.0099%	8h	2,771	+0.031%	$3.36B	$8.99B	200x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,773.2	+0.110%	$15.9M	$8.7M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,771.5	+0.049%	$485K	$2.8M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,771	+0.029%	$14.8M	$114.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,773.7	+0.127%	$3.18B	$2.24B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,771.6	+0.052%	$31.3M	$323.2M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,771	+0.032%	$2.51B	$4.38B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,767.9	−0.081%	$2.8M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,772.5	+0.084%	$2.8M	$17.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,769.8	−0.011%	$171.6M	$277.9M	25x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,771	+0.029%	—	$1.21B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,770.6	+0.017%	$15.2M	$42.0M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,772.3	+0.077%	$142.1M	$343.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,769.9	−0.009%	$181.8M	$787.3M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,769.6	−0.021%	$161.0M	$84.9M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,771	+0.030%	$8.7M	$32.2M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,768.5	−0.060%	$21.4M	$62.9M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,771.1	+0.034%	$10.6M	$7.9M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,771.2	+0.038%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,771.6	+0.053%	$42.6M	$28.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,769.1	−0.040%	$971K	$13.3M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,771.2	+0.039%	$31.0M	$75.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,771.9	+0.062%	—	$37.0M	500x	as long as short
Kalshi KXETHPERP	+0.0110%	8h	2,769.7	−0.016%	$8.0M	$682.8M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0133%	1h	2,771.3	+0.040%	$259.1M	$207.1M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,771.3	+0.040%	$95.9M	$319.5M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0150%	8h	2,773.4	+0.118%	$32.6M	$11.2M	100x	as long as short
Hibachi ETH/USDT-Plong	+0.0152%	1h	2,770.1	long leg	$252K	$1.5M	20x
BloFin ETH-USDT	+0.0174%	8h	2,769.9	−0.009%	$287.9M	$184.6M	150x	as long as short
Reya ETHRUSDPERP	+0.0211%	1h	2,770.9	+0.028%	$7.3M	$1.2M	25x	as long as short