Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0011%/8h= +1.2% APRpaid last 24h +0.001%

Price spread now: Nado against KuCoin+0.041%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$220.218% of the position

Long on KuCoin Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.049%+$5 on $10k

Price spread, last 7 days−0.045%−$5 · spread now +0.041%, 7d avg +0.015%

Together, before fees+0.004%+ Points / potential airdropNado: Active · farm board$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Nado is 0.026% dearer against KuCoin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ETHUSDTM	2,756	0.0089	pay 0.0089% / 8h	7h 01m	$392.8M	$602.9M	100x
Short	Nado ETH-PERP	2,757.1	0.0100	get 0.0012% / 1h	1m 28s	$14.3M	$112.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.041%Rate

Funding earned: $2.31
Price spread: +0.041% → +0.015%: $2.6
Slippage, 4 orders: −$2.81
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$16.9
Costs to cover: 0.218%
Break-even: 58.2 days

Slippage from KuCoin: live order book, 3 min ago; Nado: 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 KuCoin live order book, 3 min ago	0.02 bp	7.0 bp −$7	9.3 bp −$93	11.2 bp −$1,124	doesn't fit
Sell Nado live order book, 3 min ago	0.18 bp	4.0 bp −$4	4.4 bp −$44	7.3 bp −$729	15.2 bp −$7,619

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	2,773.8	+0.646%	$119K	$22.5M	52x	as long as short
Perpl ETH	−0.0447%	43m	2,757.3	+0.047%	$323K	$6.1M	8.3x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,756.1	+0.004%	$5.7M	$11.2M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,757.2	+0.044%	$5K	$1K	50x	as long as short
01 Exchange ETHUSD	−0.0032%	1h	2,756.2	+0.007%	$168K	$1.1M	50x	as long as short
Phoenix ETH	−0.0003%	1h	2,768.6	+0.457%	$868K	$3.7M	25x	as long as short
dYdX ETH-USD	+0.0003%	1h	2,757.8	+0.065%	$12.2M	$43.3M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,756.3	+0.010%	$22.3M	—	200x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0009% / S +0.0025%	1h	2,756.2	+0.006%	$12.4M	—	200x	as long as short
Bullet ETH-USD	+0.0018%	1h	2,755.8	−0.007%	$183K	$1.7M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0033%	8h	2,754.4	−0.059%	$1.69B	$10.96B	100x	as long as short
Aster ETHUSDT	+0.0044%	8h	2,755.7	−0.012%	$259.5M	$850.5M	200x	as long as short
SoDEX ETH-USD	+0.0047%	1h	2,757.1	+0.040%	$54.9M	$187.7M	40x	as long as short
Binance ETHUSDT	+0.0055%	8h	2,755.7	−0.012%	$6.43B	$16.07B	150x	as long as short
MEXC ETH_USDT	+0.0055%	8h	2,755.9	−0.004%	$1.60B	$2.67B	500x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,757	+0.036%	$5.0M	$156K	20x	as long as short
HTX ETH-USDT	+0.0062%	8h	2,757.1	+0.039%	$1.07B	$1.23B	200x	as long as short
Gate ETH_USDT	+0.0063%	8h	2,756.1	+0.002%	$3.39B	$9.17B	200x	as long as short
Aftermath Perps ETHUSD	+0.0072%	1h	2,765.1	+0.331%	$31K	$21K	20x	as long as short
ApeX Omni ETHUSDT	+0.0073%	1h	2,759.4	+0.123%	$8.8M	$31.4M	100x	as long as short
Phemex ETHUSDT	+0.0078%	8h	2,757.6	+0.059%	$268.4M	$65.9M	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,758.4	+0.087%	$60.0M	$4.39B	50x	as long as short
Bitget ETHUSDT	+0.0082%	8h	2,755.9	−0.005%	$2.08B	$2.83B	150x	as long as short
Vest ETH-PERP	+0.0089%	1h	2,757.2	+0.044%	—	$870K	50x	as long as short
KuCoin ETHUSDTMlong	+0.0089%	8h	2,756	long leg	$392.8M	$602.9M	100x
Lighter ETH	+0.0096%	1h	2,757.5	+0.054%	$114.2M	$461.9M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,759.5	+0.127%	$25.4M	$113.4M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,757.7	+0.061%	—	$35.6M	500x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,761.7	+0.207%	$15.9M	$8.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,756.3	+0.011%	$473K	$2.8M	50x	as long as short
Nado ETH-PERPshort	+0.0100%	1h	2,757.1	+0.041%	$14.3M	$112.6M	50x
Hyperliquid ETH	+0.0100%	1h	2,758.2	+0.080%	$3.14B	$2.11B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,757.9	+0.069%	$31.2M	$328.9M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,754.5	−0.053%	$2.49B	$4.29B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,756.2	+0.007%	$2.8M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,756.9	+0.033%	$2.8M	$16.8M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,771.7	+0.570%	$172.0M	$293.3M	25x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,755.4	−0.023%	—	$17.3M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,757.5	+0.056%	$15.0M	$42.4M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,766.4	+0.377%	$134.4M	$347.2M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,760.9	+0.176%	$183.2M	$752.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,767.1	+0.401%	$160.9M	$82.6M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,758.8	+0.102%	$21.3M	$65.0M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,755.6	−0.015%	$10.4M	$7.9M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,758.4	+0.086%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,760.1	+0.150%	$42.4M	$28.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,756.6	+0.020%	$967K	$12.7M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,755.3	−0.024%	$30.8M	$74.7M	50x	as long as short
Kalshi KXETHPERP	+0.0122%	8h	2,760.6	+0.167%	$7.9M	$671.8M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0127%	1h	2,758.9	+0.104%	$259.1M	$200.5M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0135%	1h	2,758.7	+0.097%	$96.7M	$315.4M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0158%	8h	2,757.2	+0.045%	$32.5M	$11.0M	100x	as long as short
Hibachi ETH/USDT-P	+0.0168%	1h	2,759.2	+0.115%	$252K	$1.5M	20x	as long as short
BloFin ETH-USDT	+0.0176%	8h	2,756.8	+0.029%	$286.3M	$179.7M	150x	as long as short
Reya ETHRUSDPERP	+0.0215%	1h	2,755.7	−0.012%	$7.3M	$1.1M	25x	as long as short