Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0042%/8h= +4.6% APRpaid last 24h +0.025%

Price spread now: Bluefin against MEXC+0.178%7-day average — · you sell dearer than you buy

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

Long on MEXC 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

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Bluefin is 0.178% dearer against MEXC than usual: you sell high and buy low: +$18 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ETH_USDT	2,767.9	0.0058	pay 0.0058% / 8h	7h 51m	$1.62B	$2.62B	500x
Short	Bluefin ETH-PERP	2,772.8	0.0100	get 0.0013% / 1h	51m 41s	$21K	$24K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against MEXC. 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 MEXCbpFee BluefinbpOrdersPrice spread, now +0.178%Rate

Funding earned: $8.82
Price spread: +0.178% → 0.000%: $17.81
Slippage, 4 orders: no order book: not counted
Fee MEXC: 1 bp × 2 orders: −$2
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: $17.63
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: MEXC: live order book, 8 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 MEXC live order book, 8 min ago	0.02 bp	1.0 bp −$1	1.0 bp −$10	1.5 bp −$146	4.0 bp −$1,987
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
Injective ETH/USDC PERP	−0.0752%	1h	2,774.3	+0.232%	$119K	$22.5M	52x	as long as short
ApeX Omni ETHUSDT	−0.0362%	1h	2,770.5	+0.096%	$8.7M	$32.9M	100x	as long as short
Perpl ETH	−0.0223%	43m	2,772.3	+0.159%	$284K	$6.8M	8.3x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,772.3	+0.160%	$5.7M	$11.9M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,771.3	+0.124%	$5K	$1K	50x	as long as short
Gate ETH_USDT	−0.0047%	8h	2,767.1	−0.029%	$3.30B	$8.90B	200x	as long as short
01 Exchange ETHUSD	−0.0024%	1h	2,772.5	+0.167%	$168K	$1.2M	50x	as long as short
SoDEX ETH-USD	−0.0021%	1h	2,767.8	−0.003%	$55.1M	$228.8M	40x	as long as short
Phoenix ETH	−0.0003%	1h	2,771.4	+0.127%	$876K	$3.7M	25x	as long as short
Bullet ETH-USD	−0.0003%	1h	2,773.1	+0.189%	$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
dYdX ETH-USD	0.0000%	1h	2,768.8	+0.034%	$12.7M	$45.8M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,772.1	+0.152%	$8.1M	$690.6M	4.9x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,774.3	+0.231%	$22.4M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0020%	8h	2,768.3	+0.014%	$1.70B	$11.72B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0025% / S +0.0009%	1h	2,773.8	+0.213%	$12.8M	—	200x	as long as short
Phemex ETHUSDT	+0.0037%	8h	2,768.1	+0.008%	$269.6M	$68.1M	150x	as long as short
Aftermath Perps ETHUSD	+0.0039%	1h	2,772.4	+0.164%	$29K	$22K	20x	as long as short
Aster ETHUSDT	+0.0039%	8h	2,768	+0.005%	$256.1M	$1.00B	200x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,768.9	+0.038%	$5.0M	$165K	20x	as long as short
MEXC ETH_USDTlong	+0.0058%	8h	2,767.9	long leg	$1.62B	$2.62B	500x
Binance ETHUSDT	+0.0058%	8h	2,767.8	−0.001%	$6.47B	$17.18B	150x	as long as short
Bitget ETHUSDT	+0.0066%	8h	2,767.1	−0.030%	$2.10B	$3.07B	150x	as long as short
BingX ETH-USDT	+0.0066%	8h	2,767	−0.031%	—	$1.24B	—	as long as short
HTX ETH-USDT	+0.0078%	8h	2,768	+0.004%	$1.08B	$1.31B	200x	as long as short
KuCoin ETHUSDTM	+0.0079%	8h	2,767.3	−0.021%	$421.7M	$734.4M	100x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,769.1	+0.045%	$60.6M	$4.56B	50x	as long as short
Bybit ETHUSDT	+0.0091%	8h	2,768.4	+0.017%	$2.50B	$4.58B	150x	as long as short
Vest ETH-PERP	+0.0091%	1h	2,772.2	+0.156%	—	$1.1M	50x	as long as short
Lighter ETH	+0.0096%	1h	2,768.3	+0.015%	$115.0M	$456.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,769.6	+0.061%	$25.2M	$109.7M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,767.8	−0.003%	$15.9M	$9.8M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,771.9	+0.145%	$483K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,771.9	+0.144%	$14.6M	$117.9M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,769.6	+0.062%	$3.16B	$2.30B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,768.3	+0.016%	$31.2M	$319.4M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,770.1	+0.080%	$2.8M	$17.3M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,772.9	+0.182%	$2.7M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,770.5	+0.096%	$170.6M	$266.1M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,767.5	−0.012%	$15.2M	$43.3M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,771.4	+0.128%	$151.3M	$343.5M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,769.8	+0.069%	$181.8M	$784.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,770.8	+0.107%	$161.1M	$88.7M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,773.2	+0.192%	$21.5M	$58.7M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,772.2	+0.156%	$10.6M	$8.1M	50x	as long as short
Bluefin ETH-PERPshort	+0.0100%	1h	2,772.8	+0.178%	$21K	$24K	25x
Derive ETH-PERP	+0.0100%	1h	2,770.7	+0.103%	$42.7M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,771.2	+0.119%	$973K	$13.8M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,766.5	−0.049%	$32.5M	$78.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,771.5	+0.131%	—	$41.7M	500x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,768.9	+0.037%	$93.3M	$332.1M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0140%	1h	2,769.6	+0.062%	$259.1M	$219.8M	50x	as long as short
Orderly PERP_ETH_USDC	+0.0147%	8h	2,771.9	+0.146%	$32.6M	$12.0M	100x	as long as short
BloFin ETH-USDT	+0.0177%	8h	2,771.4	+0.128%	$287.4M	$192.6M	150x	as long as short
Hibachi ETH/USDT-P	+0.0184%	1h	2,773.7	+0.209%	$252K	$1.6M	20x	as long as short
Reya ETHRUSDPERP	+0.0207%	1h	2,772.5	+0.166%	$7.3M	$1.2M	25x	as long as short