Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.004%

Price spread now: edgeX against Kalshi+0.023%79s7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$5as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$200.204% of the position

Long on Kalshi Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.152%+$15 on $10k

Price spread, last 7 days−0.068%−$7 · spread now +0.023%, 7d avg −0.022%

Together, before fees+0.084%+ Points / potential airdropedgeX: Active · farm board+$8 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 edgeX is 0.044% dearer against Kalshi than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.022%. The two prices were read 79 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	Kalshi KXETHPERP	2,725.8	0	get 0.0000% / 8h	4h 35m	$6.6M	$682.2M	4.9x
Short	edgeX ETHUSDC	2,726.4	0.0100	get 0.0050% / 4h	35m 48s	$185.4M	$681.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Kalshi. 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 KalshibpFee edgeXbpOrdersPrice spread, now +0.023%Rate

Funding earned: $21
Price spread: +0.023% → −0.022%: $4.43
Slippage, 4 orders: −$1.35
Fee Kalshi: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $5.07
Costs to cover: 0.204%
Break-even: 5.3 days

Slippage from Kalshi: live order book, 3 min ago; edgeX: 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 Kalshi live order book, 3 min ago	0.18 bp	5.2 bp −$5	6.7 bp −$67	10.6 bp −$1,061	16.9 bp −$8,442
Sell edgeX live order book, 3 min ago	0.07 bp	4.9 bp −$5	4.9 bp −$49	5.1 bp −$506	6.3 bp −$3,155

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	−0.0447%	43m	2,724.1	−0.064%	$285K	$5.7M	8.3x	as long as short
BloFin ETH-USDT	−0.0183%	8h	2,723.9	−0.070%	$280.3M	$177.6M	150x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,724.8	−0.037%	$5K	$1K	50x	as long as short
Phoenix ETH	−0.0015%	1h	2,732.8	+0.257%	$811K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,725.5	−0.010%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,725	−0.029%	$10.5M	$42.5M	50x	as long as short
Kalshi KXETHPERPlong	0.0000%	8h	2,725.8	long leg	$6.6M	$682.2M	4.9x
Deribit ETH-PERPETUAL	0.0000%	1h	2,725.8	+0.001%	$262.6M	$212.4M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,725.6	−0.006%	$32.9M	—	200x	as long as short
BingX ETH-USDC	+0.0019%	8h	2,723.7	−0.076%	—	$18.6M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0023%	8h	2,724.3	−0.056%	$2.32B	$4.36B	150x	as long as short
HTX ETH-USDT	+0.0027%	8h	2,724.2	−0.059%	$1.05B	$1.22B	200x	as long as short
01 Exchange ETHUSD	+0.0032%	1h	2,724.2	−0.059%	$191K	$890K	50x	as long as short
Injective ETH/USDC PERP	+0.0050%	1h	2,726.3	+0.018%	$117K	$20.2M	52x	as long as short
ApeX Omni ETHUSDT	+0.0052%	1h	2,731	+0.190%	$8.5M	$31.6M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0060%	1h	2,725.5	−0.013%	$82.1M	$310.0M	100x	as long as short
Hibachi ETH/USDT-P	+0.0064%	1h	2,727.1	+0.049%	$240K	$1.4M	20x	as long as short
KuCoin ETHUSDTM	+0.0072%	8h	2,724.9	−0.033%	$383.5M	$577.9M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0072%	8h	2,724.3	−0.057%	$1.65B	$10.84B	100x	as long as short
Aster ETHUSDT	+0.0077%	8h	2,724.5	−0.046%	$252.3M	$849.6M	200x	as long as short
SoDEX ETH-USD	+0.0085%	1h	2,724.8	−0.037%	$54.3M	$187.2M	40x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,722.4	−0.123%	$4.9M	$185K	20x	as long as short
Binance ETHUSDT	+0.0090%	8h	2,724.5	−0.047%	$6.30B	$16.17B	150x	as long as short
MEXC ETH_USDT	+0.0091%	8h	2,724.8	−0.038%	$1.55B	$2.56B	500x	as long as short
Lighter ETH	+0.0096%	1h	2,725.1	−0.025%	$112.2M	$430.5M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,726.4	+0.023%	$23.4M	$102.1M	50x	as long as short
Aftermath Perps ETHUSD	+0.0098%	1h	2,728.4	+0.097%	$30K	$20K	20x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,723.7	−0.077%	$498K	$3.6M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,727.2	+0.051%	$15.3M	$7.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,724	−0.065%	$14.1M	$105.0M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,727.8	+0.073%	$3.11B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,725.1	−0.025%	$31.9M	$333.6M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,724.7	−0.040%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,724.5	−0.048%	$1.5M	$15.9M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,726.2	+0.016%	$163.3M	$356.8M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,724.7	−0.040%	$3.31B	$8.88B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,724.2	−0.059%	$2.10B	$2.77B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,724.9	−0.034%	$15.0M	$41.2M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,724.1	−0.062%	$133.4M	$317.8M	—	as long as short
edgeX ETHUSDCshort	+0.0100%	4h	2,726.4	+0.023%	$185.4M	$681.9M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,727.6	+0.067%	$158.6M	$82.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,725.4	−0.015%	$21.0M	$70.6M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,726.2	+0.014%	—	$446K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,726	+0.007%	$11.2M	$9.5M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,725.1	−0.026%	$183K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,725.5	−0.011%	$22K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,726.6	+0.028%	$40.8M	$30.1M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,723.1	−0.101%	$955K	$10.9M	100x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,725.2	−0.023%	$262.8M	$64.5M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,724	−0.065%	$30.4M	$72.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0056%	1h	2,724	−0.066%	—	$30.4M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,725.8	0.000%	$46.7M	$4.29B	50x	as long as short
RISEx ETH/USDC	+0.0114%	1h	2,724.3	−0.055%	$5.6M	$11.7M	25x	as long as short
Reya ETHRUSDPERP	+0.0182%	1h	2,724	−0.067%	$7.3M	$975K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0184%	8h	2,727.7	+0.069%	$32.1M	$11.2M	100x	as long as short