Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h −0.008%

Price spread now: SoDEX against KuCoin+0.016%7-day average −0.013% · 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−$18as in the Price arb table

costs, in and out, $10k−$210.206% of the position

Long on KuCoin Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.030%+$3 on $10k

Price spread, last 4 days (all we have)−0.022%−$2 · spread now +0.016%, 7d avg −0.013%

Together, before fees+0.007%+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and SoDEX is 0.029% dearer against KuCoin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ETHUSDTM	2,728.8	0.0068	pay 0.0068% / 8h	55m 15s	$385.5M	$577.2M	100x
Short	SoDEX ETH-USD	2,729.2	0.0100	get 0.0013% / 1h	55m 15s	$54.4M	$187.2M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.016%Rate

Funding earned: $6.72
Price spread: +0.016% → −0.013%: $2.95
Slippage, 4 orders: −$0.59
Fee KuCoin: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$10.92
Costs to cover: 0.206%
Break-even: 18.4 days

Slippage from KuCoin: live order book, 4 min ago; SoDEX: live order book, 4 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, 4 min ago	0.02 bp	6.2 bp −$6	7.5 bp −$75	10.6 bp −$1,060	doesn't fit
Sell SoDEX live order book, 4 min ago	0.18 bp	4.2 bp −$4	4.2 bp −$42	6.2 bp −$618	38.4 bp −$19.2K

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
ApeX Omni ETHUSDT	−0.0132%	1h	2,727.7	−0.039%	$8.6M	$31.6M	100x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,729.4	+0.024%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,728	−0.027%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,730.3	+0.057%	$812K	$3.0M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,728.7	−0.003%	$10.5M	$42.7M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,728.6	−0.005%	$6.5M	$681.2M	4.9x	as long as short
Perpl ETH	0.0000%	43m	2,727.8	−0.034%	$287K	$5.8M	8.3x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,730.3	+0.056%	$262.4M	$213.5M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,729.3	+0.018%	$32.9M	—	200x	as long as short
BingX ETH-USDT	+0.0020%	8h	2,728.8	+0.001%	—	$1.10B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0024%	8h	2,730.1	+0.048%	$2.33B	$4.38B	150x	as long as short
HTX ETH-USDT	+0.0030%	8h	2,728.6	−0.005%	$1.05B	$1.22B	200x	as long as short
BloFin ETH-USDT	+0.0031%	8h	2,729.3	+0.018%	$281.4M	$177.3M	150x	as long as short
01 Exchange ETHUSD	+0.0048%	1h	2,728.8	+0.002%	$192K	$891K	50x	as long as short
Injective ETH/USDC PERP	+0.0050%	1h	2,730.1	+0.049%	$117K	$20.2M	52x	as long as short
Kraken Futures PF_ETHUSD	+0.0060%	1h	2,729.8	+0.039%	$82.1M	$309.7M	100x	as long as short
KuCoin ETHUSDTMlong	+0.0068%	8h	2,728.8	long leg	$385.5M	$577.2M	100x
OKX ETH-USDT-SWAP	+0.0078%	8h	2,730	+0.044%	$1.65B	$10.86B	100x	as long as short
Aster ETHUSDT	+0.0080%	8h	2,729.4	+0.024%	$252.8M	$849.1M	200x	as long as short
MEXC ETH_USDT	+0.0093%	8h	2,728.7	−0.003%	$1.54B	$2.55B	500x	as long as short
Binance ETHUSDT	+0.0093%	8h	2,729.5	+0.028%	$6.33B	$16.15B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,729.9	+0.044%	$112.6M	$428.8M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,731.1	+0.085%	$23.5M	$101.7M	50x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,726.7	−0.074%	$4.9M	$177K	20x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,727.8	−0.035%	$501K	$3.5M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,731.2	+0.090%	$15.4M	$7.8M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,727.6	−0.042%	$14.0M	$104.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,730.8	+0.075%	$3.10B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,728.3	−0.016%	$32.2M	$333.8M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,727.5	−0.046%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,728.9	+0.004%	$1.5M	$16.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,729	+0.009%	$3.30B	$8.84B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,729.1	+0.011%	$2.10B	$2.77B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,728.9	+0.006%	$15.0M	$41.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,726.9	−0.067%	$133.9M	$319.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,727.6	−0.043%	$185.5M	$682.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,729.1	+0.013%	$158.6M	$83.7M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,729.2	+0.016%	$21.0M	$70.3M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,730.1	+0.050%	—	$445K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,730	+0.046%	$11.2M	$9.4M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,728.8	+0.004%	$186K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,729.1	+0.012%	$22K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,730.5	+0.066%	$40.9M	$30.1M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,726.6	−0.077%	$957K	$10.9M	100x	as long as short
SoDEX ETH-USDshort	+0.0100%	1h	2,729.2	+0.016%	$54.4M	$187.2M	40x
Phemex ETHUSDT	+0.0100%	8h	2,729.8	+0.038%	$263.0M	$64.4M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,729	+0.008%	$162.7M	$352.6M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,728.2	−0.019%	$30.4M	$72.9M	50x	as long as short
Hibachi ETH/USDT-P	+0.0104%	1h	2,729.4	+0.023%	$242K	$1.4M	20x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0056%	1h	2,727.7	−0.037%	—	$30.5M	500x	as long as short
Aftermath Perps ETHUSD	+0.0104%	1h	2,729.9	+0.043%	$30K	$20K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,730.6	+0.067%	$46.5M	$4.30B	50x	as long as short
RISEx ETH/USDC	+0.0114%	1h	2,728.9	+0.005%	$5.6M	$11.6M	25x	as long as short
Orderly PERP_ETH_USDC	+0.0185%	8h	2,731.2	+0.091%	$32.2M	$11.3M	100x	as long as short
Reya ETHRUSDPERP	+0.0185%	1h	2,727.8	−0.035%	$7.3M	$975K	25x	as long as short