Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0089%/8h= +9.8% APRpaid last 24h +0.021%

Price spread now: Bluefin against KuCoin+0.019%7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ETHUSDTM	2,723.2	0.0080	pay 0.0080% / 8h	3m 40s	$382.8M	$575.5M	100x
Short	Bluefin ETH-PERP	2,723.7	0.0169	get 0.0021% / 1h	3m 40s	$20K	$23K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against KuCoin. 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 KuCoinbpFee BluefinbpOrdersPrice spread, now +0.019%Rate

Funding earned: $18.75
Price spread: +0.019% → 0.000%: $1.95
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: $1.7
Costs to cover: 0.190%
Break-even: 6.4 days

Slippage unknown: KuCoin: live order book, 6 min ago; Bluefin: 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 KuCoin live order book, 6 min ago	0.02 bp	6.0 bp −$6	8.2 bp −$82	10.4 bp −$1,043	doesn't fit
Sell Bluefin no order-book sample	—	—	—	—	—

Bluefin: 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	−0.0447%	43m	2,724.2	+0.036%	$274K	$5.7M	8.3x	as long as short
BloFin ETH-USDT	−0.0129%	8h	2,724	+0.030%	$281.0M	$177.6M	150x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,723.1	−0.003%	$5K	$1K	50x	as long as short
Phoenix ETH	−0.0015%	1h	2,723.3	+0.004%	$808K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,723.3	+0.004%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,723.5	+0.010%	$10.5M	$41.8M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,724.1	+0.033%	$6.7M	$674.0M	4.9x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,723.7	+0.018%	$264.3M	$215.3M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,723.4	+0.007%	$32.9M	—	200x	as long as short
BingX ETH-USDT	+0.0018%	8h	2,722.7	−0.017%	—	$1.07B	—	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	2,722.8	−0.013%	$2.31B	$4.31B	150x	as long as short
HTX ETH-USDT	+0.0036%	8h	2,723.1	−0.005%	$1.05B	$1.21B	200x	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,723.4	+0.008%	$189K	$883K	50x	as long as short
Injective ETH/USDC PERP	+0.0050%	1h	2,727.2	+0.147%	$117K	$22.2M	52x	as long as short
Kraken Futures PF_ETHUSD	+0.0060%	1h	2,723.8	+0.021%	$82.0M	$310.2M	100x	as long as short
Hibachi ETH/USDT-P	+0.0072%	1h	2,725.3	+0.077%	$239K	$1.4M	20x	as long as short
ApeX Omni ETHUSDT	+0.0075%	1h	2,723.5	+0.011%	$8.4M	$31.3M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0076%	8h	2,723	−0.007%	$1.65B	$10.74B	100x	as long as short
KuCoin ETHUSDTMlong	+0.0080%	8h	2,723.2	long leg	$382.8M	$575.5M	100x
Aster ETHUSDT	+0.0083%	8h	2,722.9	−0.010%	$251.9M	$850.6M	200x	as long as short
MEXC ETH_USDT	+0.0092%	8h	2,722.8	−0.013%	$1.58B	$2.59B	500x	as long as short
Binance ETHUSDT	+0.0093%	8h	2,722.8	−0.015%	$6.30B	$16.07B	150x	as long as short
Aftermath Perps ETHUSD	+0.0095%	1h	2,724	+0.031%	$30K	$20K	20x	as long as short
Lighter ETH	+0.0096%	1h	2,723.5	+0.012%	$112.1M	$433.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,724.8	+0.061%	$23.3M	$102.8M	50x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,720.6	−0.096%	$4.9M	$189K	20x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,722.7	−0.018%	$499K	$3.6M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,727.2	+0.146%	$15.4M	$7.5M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,723.3	+0.005%	$14.1M	$104.5M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,725.4	+0.081%	$3.10B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,723.8	+0.024%	$31.9M	$334.0M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,723.1	−0.003%	$2.7M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,723.3	+0.005%	$1.6M	$16.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,723.2	−0.001%	$3.31B	$8.96B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,722.9	−0.012%	$2.11B	$2.76B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,722.9	−0.012%	$15.0M	$40.5M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,722.5	−0.025%	$133.2M	$316.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,722.2	−0.038%	$185.2M	$682.7M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,723.2	+0.001%	$158.2M	$82.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,724.5	+0.048%	$20.9M	$69.8M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,725.1	+0.072%	—	$445K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,724.4	+0.044%	$11.2M	$9.4M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,722.7	−0.018%	$181K	$1.7M	20x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,724.2	+0.036%	$40.7M	$30.0M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,722.8	−0.015%	$955K	$10.7M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,722.9	−0.011%	$54.2M	$182.6M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,723.2	+0.002%	$262.3M	$64.0M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,722.9	−0.012%	$160.5M	$349.9M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,722	−0.045%	$30.4M	$71.2M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0056%	1h	2,724.6	+0.052%	—	$30.1M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,724.7	+0.054%	$46.5M	$4.25B	50x	as long as short
RISEx ETH/USDC	+0.0114%	1h	2,723.3	+0.003%	$5.6M	$11.6M	25x	as long as short
Bluefin ETH-PERPshort	+0.0169%	1h	2,723.7	+0.019%	$20K	$23K	25x
Reya ETHRUSDPERP	+0.0177%	1h	2,722.3	−0.033%	$7.3M	$972K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0185%	8h	2,725.5	+0.085%	$32.1M	$11.3M	100x	as long as short