Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0140%/8h= −15.3% APRpaid last 24h −0.050%

Price spread now: Hotstuff against MEXC+0.067%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 Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

The price spread pays, funding is against you. Hotstuff is 0.067% dearer against MEXC than usual: you sell high and buy low (spread +0.067% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ETH_USDT	2,771	0.0060	pay 0.0060% / 8h	1h 26m	$1.62B	$2.66B	500x
Short	Hotstuff ETH-PERP	2,772.9	−0.0080	pay 0.0010% / 1h	26m 29s	$5K	$2K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now +0.067%Rate

Funding earned: −$29.4
Price spread: +0.067% → 0.000%: $6.75
Slippage, 4 orders: no order book: not counted
Fee MEXC: 1 bp × 2 orders: −$2
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$29.65
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 3 min ago; Hotstuff: 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, 3 min ago	0.02 bp	1.0 bp −$1	1.0 bp −$10	1.6 bp −$158	4.4 bp −$2,183
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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	2,772.4	+0.049%	$287K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,771.2	+0.007%	$5.8M	$12.0M	25x	as long as short
Hotstuff ETH-PERPshort	−0.0080%	1h	2,772.9	+0.067%	$5K	$2K	50x
Injective ETH/USDC PERP	−0.0041%	1h	2,770.3	−0.026%	$119K	$22.5M	52x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,772.2	+0.042%	$169K	$1.2M	50x	as long as short
Aftermath Perps ETHUSD	−0.0017%	1h	2,774	+0.107%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,773.3	+0.081%	$12.7M	$45.5M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,769.6	−0.052%	$883K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,775	+0.143%	$22.4M	—	200x	as long as short
BingX ETH-USDC	+0.0016%	8h	2,771	−0.002%	—	$17.4M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex ETHUSDT	+0.0021%	8h	2,774.4	+0.122%	$269.7M	$68.9M	150x	as long as short
OKX ETH-USDT-SWAP	+0.0021%	8h	2,771.2	+0.005%	$1.70B	$11.83B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0027% / S +0.0009%	1h	2,774.8	+0.136%	$13.0M	—	200x	as long as short
Aster ETHUSDT	+0.0032%	8h	2,772.4	+0.049%	$255.9M	$991.0M	200x	as long as short
Bullet ETH-USD	+0.0036%	1h	2,774	+0.107%	$181K	$1.7M	20x	as long as short
MEXC ETH_USDTlong	+0.0060%	8h	2,771	long leg	$1.62B	$2.66B	500x
Nado ETH-PERP	+0.0060%	1h	2,772	+0.036%	$14.3M	$118.1M	50x	as long as short
Binance ETHUSDT	+0.0060%	8h	2,772.5	+0.052%	$6.42B	$17.17B	150x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,772.2	+0.042%	$5.0M	$636K	20x	as long as short
Bitget ETHUSDT	+0.0071%	8h	2,771.3	+0.009%	$2.10B	$3.10B	150x	as long as short
ApeX Omni ETHUSDT	+0.0073%	1h	2,772.4	+0.051%	$8.8M	$32.6M	100x	as long as short
Gate ETH_USDT	+0.0074%	8h	2,771.3	+0.010%	$3.29B	$9.62B	200x	as long as short
SoDEX ETH-USD	+0.0077%	1h	2,773.2	+0.078%	$55.2M	$228.8M	40x	as long as short
Bybit ETHUSDT	+0.0093%	8h	2,772.7	+0.058%	$2.51B	$4.61B	150x	as long as short
HTX ETH-USDT	+0.0094%	8h	2,774.2	+0.114%	$1.08B	$1.32B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,772	+0.036%	$115.0M	$500.3M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,774.3	+0.116%	$25.3M	$121.4M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,773.1	+0.074%	—	$41.6M	500x	as long as short
KuCoin ETHUSDTM	+0.0099%	8h	2,772.3	+0.047%	$423.4M	$739.3M	100x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,770.9	−0.003%	$15.9M	$10.5M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,771.9	+0.031%	$476K	$2.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,774.9	+0.139%	$3.19B	$2.37B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,772.4	+0.050%	$31.2M	$299.8M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,771	−0.001%	$2.8M	$16.9M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,773	+0.071%	$2.7M	$17.5M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,767.4	−0.130%	$166.0M	$246.7M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,772.9	+0.067%	$15.2M	$44.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,769.4	−0.057%	$135.0M	$322.3M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,770.7	−0.012%	$181.3M	$782.1M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,772.9	+0.069%	$161.3M	$91.2M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,771.7	+0.024%	$21.4M	$58.0M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,773.8	+0.099%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,775.2	+0.150%	$10.8M	$7.6M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,774.7	+0.131%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,776.6	+0.200%	$42.7M	$29.3M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,772	+0.036%	$972K	$14.0M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0103%	1h	2,776	+0.178%	$258.3M	$222.2M	50x	as long as short
Extended ETH-USD	+0.0104%	1h	2,770.9	−0.005%	$31.4M	$74.5M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,775.1	+0.148%	$60.1M	$4.60B	50x	as long as short
Kalshi KXETHPERP	+0.0122%	8h	2,773.3	+0.082%	$8.5M	$677.2M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0136%	8h	2,777.1	+0.217%	$32.6M	$12.0M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0170%	1h	2,774.7	+0.133%	$86.1M	$331.5M	100x	as long as short
BloFin ETH-USDT	+0.0180%	8h	2,773.1	+0.073%	$285.2M	$194.4M	150x	as long as short
Hibachi ETH/USDT-P	+0.0184%	1h	2,773.4	+0.084%	$275K	$1.5M	20x	as long as short
Reya ETHRUSDPERP	+0.0191%	1h	2,773.8	+0.100%	$7.4M	$1.2M	25x	as long as short