Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: edgeX against Nado+0.019%62s7-day average −0.047% · 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—prices read too far apart to compare

costs, in and out, $10k−$170.172% of the position

Long on Nado Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.005%+$1 on $10k

Price spread, last 7 days−0.038%−$4 · spread now +0.019%, 7d avg −0.047%

Together, before fees−0.033%+ Points / potential airdropNado: Active · edgeX: Active · farm board−$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: edgeX is 0.066% dearer against Nado than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.047%. The two prices were read 62 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ETH-PERP	2,716.9	0.0100	pay 0.0012% / 1h	27m 47s	$13.8M	$105.1M	50x
Short	edgeX ETHUSDC	2,717.4	0.0100	get 0.0050% / 4h	2h 27m	$184.0M	$676.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Nado. 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 NadobpFee edgeXbpOrdersPrice spread, now +0.019%Rate

Funding earned: $0
Price spread: +0.019% → −0.047%: $6.61
Slippage, 4 orders: −$1.22
Fee Nado: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$10.61
Costs to cover: 0.172%
Break-even: 1090165874459137.5 days

Slippage from Nado: live order book, 1 min ago; edgeX: live order book, 1 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 Nado live order book, 1 min ago	0.18 bp	3.7 bp −$4	3.8 bp −$38	6.3 bp −$627	14.6 bp −$7,299
Sell edgeX live order book, 1 min ago	0.22 bp	4.8 bp −$5	4.8 bp −$48	5.0 bp −$497	6.3 bp −$3,126

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	2,717	+0.004%	$281K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,719.9	+0.112%	$5K	$1K	50x	as long as short
HTX ETH-USDT	−0.0012%	8h	2,715.8	−0.040%	$1.05B	$1.21B	200x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,716.3	−0.020%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0009%	1h	2,719.7	+0.105%	$814K	$3.0M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,716.6	−0.010%	$31.3M	—	200x	as long as short
Injective ETH/USDC PERP	+0.0009%	1h	2,719.1	+0.083%	$117K	$22.5M	52x	as long as short
dYdX ETH-USD	+0.0009%	1h	2,717.3	+0.016%	$10.7M	$42.0M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0030%	1h	2,717.2	+0.014%	$258.8M	$206.6M	50x	as long as short
BingX ETH-USDT	+0.0033%	8h	2,716.1	−0.027%	—	$1.14B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ETHUSD	+0.0040%	1h	2,717.9	+0.038%	$190K	$796K	50x	as long as short
Bybit ETHUSDT	+0.0043%	8h	2,716	−0.031%	$2.34B	$4.42B	150x	as long as short
SunX ETH-USDT	+0.0067%	8h	2,716	−0.033%	$954K	$11.2M	100x	as long as short
ApeX Omni ETHUSDT	+0.0069%	1h	2,717.6	+0.026%	$8.6M	$31.3M	100x	as long as short
Bullet ETH-USD	+0.0071%	1h	2,716	−0.032%	$179K	$1.7M	20x	as long as short
Aftermath Perps ETHUSD	+0.0075%	1h	2,720.3	+0.126%	$30K	$20K	20x	as long as short
KuCoin ETHUSDTM	+0.0076%	8h	2,716.4	−0.017%	$374.3M	$577.9M	100x	as long as short
Aster ETHUSDT	+0.0084%	8h	2,716.5	−0.014%	$251.3M	$843.1M	200x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,713.8	−0.112%	$4.9M	$155K	20x	as long as short
MEXC ETH_USDT	+0.0091%	8h	2,716.1	−0.027%	$1.55B	$2.58B	500x	as long as short
Binance ETHUSDT	+0.0091%	8h	2,716.2	−0.023%	$6.29B	$16.06B	150x	as long as short
OKX ETH-USDT-SWAP	+0.0094%	8h	2,716.1	−0.027%	$1.65B	$10.76B	100x	as long as short
Lighter ETH	+0.0096%	1h	2,716.8	−0.001%	$111.5M	$433.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,717.9	+0.040%	$23.3M	$103.4M	50x	as long as short
Phemex ETHUSDT	+0.0098%	8h	2,716.8	−0.001%	$262.3M	$64.4M	150x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,716.7	−0.006%	$496K	$3.4M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,719.1	+0.083%	$15.1M	$8.0M	50x	as long as short
Nado ETH-PERPlong	+0.0100%	1h	2,716.9	long leg	$13.8M	$105.1M	50x
Hyperliquid ETH	+0.0100%	1h	2,718.4	+0.057%	$3.08B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,718	+0.042%	$31.9M	$333.8M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,716.4	−0.017%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,717.6	+0.026%	$1.5M	$16.2M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,719	+0.077%	$161.7M	$327.3M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,716.3	−0.021%	$3.29B	$8.96B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,716.4	−0.017%	$2.07B	$2.77B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,716	−0.030%	$14.9M	$43.2M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,716.7	−0.004%	$132.7M	$328.5M	—	as long as short
edgeX ETHUSDCshort	+0.0100%	4h	2,717.4	+0.019%	$184.0M	$676.9M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,718.2	+0.050%	$158.2M	$87.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,718.7	+0.068%	$20.9M	$70.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,718.7	+0.068%	—	$876K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,717.8	+0.035%	$11.1M	$9.5M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,717	+0.004%	$22K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,717.6	+0.029%	$40.7M	$30.1M	15x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,716	−0.031%	$54.1M	$187.8M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,715.6	−0.044%	$30.5M	$74.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,716.9	+0.001%	—	$31.3M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,717.3	+0.016%	$49.6M	$4.28B	50x	as long as short
RISEx ETH/USDC	+0.0108%	1h	2,717.5	+0.025%	$5.5M	$11.8M	25x	as long as short
Kalshi KXETHPERP	+0.0157%	8h	2,718.1	+0.046%	$6.4M	$691.9M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0177%	1h	2,716.7	−0.005%	$82.6M	$315.6M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0189%	8h	2,718.6	+0.064%	$32.0M	$11.4M	100x	as long as short
Reya ETHRUSDPERP	+0.0200%	1h	2,715.4	−0.055%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0256%	1h	2,721.9	+0.186%	$249K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0334%	8h	2,718.8	+0.073%	$280.7M	$173.9M	150x	as long as short