Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.004%

Price spread now: HTX against Ondo Perps+0.032%7-day average +0.004% · you sell dearer than you buy

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

Long on Ondo Perps Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.060%−$6 on $10k

Price spread, last 3 days (all we have)−0.036%−$4 · spread now +0.032%, 7d avg +0.004%

Together, before fees−0.096%+ Points / potential airdropOndo Perps: Active · farm board−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.028% dearer against Ondo Perps than usual: you sell high and buy low (spread +0.032% now, against its 7-day average of +0.004%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps ETH-USD.P	2,746.5	0.0100	pay 0.0013% / 1h	15m 22s	$2.8M	$17.0M	25x
Short	HTX ETH-USDT	2,747.4	0.0060	get 0.0060% / 8h	6h 15m	$1.06B	$1.20B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Ondo Perps. 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 Ondo PerpsbpFee HTXbpOrdersPrice spread, now +0.032%Rate

Funding earned: −$8.44
Price spread: +0.032% → +0.004%: $2.81
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$22.64
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; HTX: live order book, 4 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell HTX live order book, 4 min ago	0.02 bp	6.0 bp −$6	6.0 bp −$60	6.5 bp −$648	10.2 bp −$5,091

Ondo Perps: 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 54 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	−0.0112%	43m	2,747.2	+0.027%	$310K	$5.9M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,746.9	+0.015%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,747.1	+0.021%	$5.7M	$11.4M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0009% / S +0.0043%	1h	2,747.5	+0.038%	$12.1M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,749	+0.091%	$848K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,747	+0.018%	$10.8M	$42.1M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,747.6	+0.038%	$22.2M	—	200x	as long as short
01 Exchange ETHUSD	+0.0032%	1h	2,747.5	+0.036%	$181K	$1.1M	50x	as long as short
ApeX Omni ETHUSDT	+0.0036%	1h	2,747.8	+0.046%	$8.7M	$31.4M	100x	as long as short
BingX ETH-USDC	+0.0038%	8h	2,747	+0.018%	—	$18.5M	—	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0050%	8h	2,747.4	+0.032%	$1.69B	$10.95B	100x	as long as short
HTX ETH-USDTshort	+0.0060%	8h	2,747.4	+0.032%	$1.06B	$1.20B	200x
KuCoin ETHUSDTM	+0.0069%	8h	2,747	+0.016%	$371.9M	$610.1M	100x	as long as short
Aster ETHUSDT	+0.0069%	8h	2,747.2	+0.025%	$253.7M	$858.5M	200x	as long as short
MEXC ETH_USDT	+0.0080%	8h	2,747.2	+0.027%	$1.57B	$2.57B	500x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,744.5	−0.074%	$4.9M	$168K	20x	as long as short
Binance ETHUSDT	+0.0080%	8h	2,747.2	+0.027%	$6.38B	$16.21B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,748.4	+0.068%	$58.9M	$4.34B	50x	as long as short
Lighter ETH	+0.0096%	1h	2,747	+0.018%	$113.1M	$444.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,748.3	+0.065%	$24.8M	$107.7M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,747.1	+0.020%	—	$35.6M	500x	as long as short
Bitget ETHUSDT	+0.0096%	8h	2,747.3	+0.030%	$2.08B	$2.83B	150x	as long as short
Aftermath Perps ETHUSD	+0.0098%	1h	2,748.9	+0.086%	$30K	$20K	20x	as long as short
Bullet ETH-USD	+0.0099%	1h	2,747	+0.019%	$183K	$1.7M	20x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,751.2	+0.171%	$16.3M	$8.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,746.6	+0.004%	$477K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,746.6	+0.002%	$14.0M	$112.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,748.9	+0.087%	$3.13B	$2.10B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,747.2	+0.025%	$31.7M	$334.3M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,747.3	+0.028%	$2.46B	$4.32B	150x	as long as short
Ondo Perps ETH-USD.Plong	+0.0100%	1h	2,746.5	long leg	$2.8M	$17.0M	25x
Arcus ETH-USD	+0.0100%	1h	2,747.4	+0.034%	$2.8M	$16.5M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,747.4	+0.033%	$3.39B	$8.92B	200x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,746.6	+0.003%	$15.0M	$41.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,747.1	+0.021%	$133.1M	$345.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,746.3	−0.006%	$181.6M	$704.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,747.6	+0.041%	$159.8M	$82.9M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,748.6	+0.076%	$21.3M	$69.0M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,748.2	+0.060%	—	$868K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,747.6	+0.040%	$10.7M	$8.6M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,747.2	+0.024%	$21K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,749	+0.091%	$41.7M	$29.5M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,746	−0.020%	$963K	$12.3M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,747.3	+0.029%	$54.7M	$187.7M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,748.1	+0.059%	$267.4M	$66.0M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,747.7	+0.042%	$164.0M	$301.0M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,746.6	+0.004%	$30.5M	$73.4M	50x	as long as short
Kalshi KXETHPERP	+0.0145%	8h	2,748.7	+0.080%	$7.7M	$674.1M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0165%	1h	2,748.7	+0.081%	$258.5M	$199.7M	50x	as long as short
Orderly PERP_ETH_USDC	+0.0174%	8h	2,749.6	+0.114%	$32.3M	$11.2M	100x	as long as short
Hibachi ETH/USDT-P	+0.0208%	1h	2,749.1	+0.095%	$250K	$1.5M	20x	as long as short
Injective ETH/USDC PERP	+0.0209%	1h	2,746.5	0.000%	$118K	$22.5M	52x	as long as short
Reya ETHRUSDPERP	+0.0221%	1h	2,746.9	+0.016%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0354%	1h	2,748.2	+0.062%	$89.1M	$316.7M	100x	as long as short