Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h −0.001%

Price spread now: KuCoin against Nado+0.012%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 Nado Short on KuCoin

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−0.008%−$1 · spread now +0.012%, 7d avg −0.015%

Together, before fees−0.056%+ Points / potential airdropNado: Active · farm board−$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.027% dearer against Nado than usual: you sell high and buy low (spread +0.012% now, against its 7-day average of −0.015%): +$3 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 9.0 days. At the pace of the last 3 days (−0.049% in total) that is about 43 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ETH-PERP	2,758.8	0.0100	pay 0.0012% / 1h	2m 28s	$14.3M	$112.7M	50x
Short	KuCoin ETHUSDTM	2,759.2	0.0090	get 0.0090% / 8h	7h 02m	$397.3M	$587.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.012%Rate

Funding earned: −$2.1
Price spread: +0.012% → −0.015%: $2.69
Slippage, 4 orders: −$2.81
Fee Nado: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$21.21
Costs to cover: 0.218%
Break-even: never at this rate

Slippage from Nado: live order book, 2 min ago; KuCoin: live order book, 2 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, 2 min ago	0.18 bp	3.7 bp −$4	3.7 bp −$37	5.5 bp −$550	15.0 bp −$7,524
Sell KuCoin live order book, 2 min ago	0.02 bp	7.2 bp −$7	9.9 bp −$99	11.7 bp −$1,174	doesn't fit

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	+0.543%	$119K	$22.5M	52x	as long as short
Perpl ETH	−0.0447%	43m	2,757.3	−0.055%	$323K	$6.1M	8.3x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,756.9	−0.070%	$5.7M	$11.2M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,757	−0.066%	$5K	$1K	50x	as long as short
01 Exchange ETHUSD	−0.0032%	1h	2,758.7	−0.004%	$168K	$1.1M	50x	as long as short
Phoenix ETH	−0.0003%	1h	2,768.6	+0.354%	$869K	$3.7M	25x	as long as short
dYdX ETH-USD	+0.0004%	1h	2,759.3	+0.019%	$12.2M	$43.1M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,759.9	+0.040%	$22.3M	—	200x	as long as short
Bullet ETH-USD	+0.0017%	1h	2,757.8	−0.038%	$183K	$1.7M	20x	as long as short
OKX ETH-USDT-SWAP	+0.0034%	8h	2,757.6	−0.044%	$1.69B	$10.96B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDT	+0.0041%	8h	2,756.5	−0.083%	—	$1.20B	—	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0043% / S −0.0009%	1h	2,759.7	+0.031%	$12.6M	—	200x	as long as short
Aster ETHUSDT	+0.0044%	8h	2,758.5	−0.012%	$259.8M	$850.4M	200x	as long as short
SoDEX ETH-USD	+0.0045%	1h	2,759.1	+0.010%	$54.9M	$187.7M	40x	as long as short
MEXC ETH_USDT	+0.0055%	8h	2,757.7	−0.040%	$1.60B	$2.67B	500x	as long as short
Binance ETHUSDT	+0.0056%	8h	2,758.6	−0.009%	$6.45B	$16.07B	150x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,757.2	−0.057%	$5.0M	$156K	20x	as long as short
Gate ETH_USDT	+0.0063%	8h	2,757	−0.066%	$3.38B	$9.15B	200x	as long as short
HTX ETH-USDT	+0.0064%	8h	2,756.6	−0.080%	$1.07B	$1.23B	200x	as long as short
Aftermath Perps ETHUSD	+0.0067%	1h	2,768.6	+0.353%	$31K	$21K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,758.1	−0.025%	$60.0M	$4.38B	50x	as long as short
Phemex ETHUSDT	+0.0082%	8h	2,757.5	−0.049%	$268.3M	$65.9M	150x	as long as short
Bitget ETHUSDT	+0.0082%	8h	2,757.6	−0.045%	$2.08B	$2.83B	150x	as long as short
Vest ETH-PERP	+0.0088%	1h	2,758.8	+0.001%	—	$870K	50x	as long as short
KuCoin ETHUSDTMshort	+0.0090%	8h	2,759.2	+0.012%	$397.3M	$587.9M	100x
Deribit ETH-PERPETUAL	+0.0094%	1h	2,760.2	+0.051%	$259.1M	$200.6M	50x	as long as short
Lighter ETH	+0.0096%	1h	2,759.4	+0.020%	$114.3M	$461.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,760.6	+0.066%	$25.2M	$113.0M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,761.4	+0.095%	$15.9M	$8.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,757.1	−0.062%	$473K	$2.8M	50x	as long as short
Nado ETH-PERPlong	+0.0100%	1h	2,758.8	long leg	$14.3M	$112.7M	50x
Hyperliquid ETH	+0.0100%	1h	2,759.9	+0.039%	$3.15B	$2.11B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,759.1	+0.009%	$31.2M	$328.9M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,757.9	−0.034%	$2.49B	$4.28B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,757.3	−0.055%	$2.8M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,757.3	−0.054%	$2.8M	$16.8M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,771.7	+0.467%	$172.0M	$293.3M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,757.8	−0.036%	$15.0M	$42.4M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,766.4	+0.274%	$134.4M	$347.2M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,770.3	+0.417%	$183.8M	$751.0M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,767.1	+0.299%	$160.9M	$82.6M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,766.9	+0.293%	$8.8M	$31.4M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,761.2	+0.086%	$21.4M	$65.0M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,757.4	−0.051%	$10.4M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,760.2	+0.049%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,761.6	+0.100%	$42.4M	$28.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,759.3	+0.016%	$967K	$12.7M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,755.8	−0.109%	$30.8M	$74.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,763.6	+0.173%	—	$35.9M	500x	as long as short
Kalshi KXETHPERP	+0.0120%	8h	2,760.2	+0.050%	$8.0M	$672.3M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,759.8	+0.037%	$97.2M	$314.9M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0158%	8h	2,762.6	+0.136%	$32.6M	$11.0M	100x	as long as short
Hibachi ETH/USDT-P	+0.0168%	1h	2,768.6	+0.353%	$253K	$1.5M	20x	as long as short
BloFin ETH-USDT	+0.0176%	8h	2,756.8	−0.074%	$286.3M	$179.7M	150x	as long as short
Reya ETHRUSDPERP	+0.0215%	1h	2,757.4	−0.052%	$7.3M	$1.1M	25x	as long as short