Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:22 UTC+0.0134%/8h= +14.7% APRpaid last 24h +0.068%

Price spread now: Aftermath Perps against Perpl−0.016%7-day average — · you buy dearer than you sell

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

Long on Perpl Short on Aftermath Perps

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 airdropPerpl: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl ETH	2,741.9	0	get 0.0000% / 43m	23m 04s	$304K	$5.6M	8.3x
Short	Aftermath Perps ETHUSD	2,741.4	0.0134	get 0.0017% / 1h	35m 04s	$30K	$20K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Perpl. 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 PerplbpFee Aftermath PerpsbpOrdersPrice spread, now −0.016%Rate

Funding earned: $28.15
Price spread: −0.016% → 0.000%: −$1.61
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: $3.74
Costs to cover: 0.228%
Break-even: 6.1 days

Slippage unknown: Perpl: no order-book sample; Aftermath Perps: 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 Perpl no order-book sample	—	—	—	—	—
Sell Aftermath Perps no order-book sample	—	—	—	—	—

Perpl and Aftermath 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 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
Hotstuff ETH-PERP	−0.0080%	1h	2,741.5	−0.013%	$5K	$1K	50x	as long as short
Injective ETH/USDC PERP	−0.0044%	1h	2,743.1	+0.045%	$118K	$22.5M	52x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,743	+0.043%	$12.1M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,742	+0.006%	$10.8M	$41.8M	50x	as long as short
Perpl ETHlong	0.0000%	43m	2,741.9	long leg	$304K	$5.6M	8.3x
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,743.1	+0.045%	$22.2M	—	200x	as long as short
Phoenix ETH	+0.0017%	1h	2,741.5	−0.013%	$846K	$2.9M	25x	as long as short
01 Exchange ETHUSD	+0.0032%	1h	2,741.6	−0.009%	$182K	$916K	50x	as long as short
BingX ETH-USDT	+0.0050%	8h	2,743.2	+0.050%	—	$1.15B	—	as long as short
ApeX Omni ETHUSDT	+0.0055%	1h	2,738.9	−0.106%	$8.8M	$30.9M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ETHUSDTM	+0.0063%	8h	2,743	+0.040%	$383.3M	$595.0M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0064%	8h	2,743.4	+0.056%	$1.70B	$10.58B	100x	as long as short
RISEx ETH/USDC	+0.0077%	1h	2,741.8	−0.001%	$5.6M	$11.2M	25x	as long as short
Bullet ETH-USD	+0.0079%	1h	2,742.6	+0.026%	$181K	$1.7M	20x	as long as short
Aster ETHUSDT	+0.0079%	8h	2,743	+0.040%	$252.4M	$841.2M	200x	as long as short
MEXC ETH_USDT	+0.0088%	8h	2,742.9	+0.038%	$1.56B	$2.54B	500x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,740.5	−0.048%	$4.9M	$155K	20x	as long as short
Binance ETHUSDT	+0.0089%	8h	2,743.3	+0.054%	$6.38B	$15.70B	150x	as long as short
HTX ETH-USDT	+0.0095%	8h	2,742.4	+0.019%	$1.06B	$1.18B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,743.2	+0.050%	$112.7M	$433.1M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,744.9	+0.110%	$24.6M	$103.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,742.2	+0.013%	—	$30.7M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0096%	1h	2,744.5	+0.095%	$58.6M	$4.27B	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,744.9	+0.112%	$16.0M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,741.2	−0.024%	$467K	$3.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,741.9	+0.001%	$13.9M	$105.5M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,745.4	+0.127%	$3.12B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,741.7	−0.007%	$31.6M	$335.1M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,743.3	+0.053%	$2.45B	$4.17B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,740.4	−0.053%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,741.7	−0.005%	$2.7M	$16.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,741.5	−0.012%	$164.1M	$300.8M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,743.4	+0.057%	$3.39B	$8.72B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,743.5	+0.059%	$2.08B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,742.1	+0.008%	$15.0M	$40.9M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,740.7	−0.043%	$132.6M	$333.6M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,737.1	−0.174%	$181.9M	$690.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,740	−0.069%	$159.3M	$83.6M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,740.1	−0.064%	$21.2M	$68.2M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,743.8	+0.071%	$11.0M	$8.8M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,744.8	+0.107%	$41.5M	$29.6M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,741.2	−0.023%	$962K	$11.5M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,743	+0.042%	$54.6M	$187.5M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,742.8	+0.034%	$266.8M	$65.0M	150x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,742.6	+0.029%	—	$819K	50x	as long as short
Extended ETH-USD	+0.0104%	1h	2,742.6	+0.028%	$30.6M	$72.4M	50x	as long as short
Bluefin ETH-PERP	+0.0107%	1h	2,742.8	+0.034%	$21K	$20K	25x	as long as short
Aftermath Perps ETHUSDshort	+0.0134%	1h	2,741.4	−0.016%	$30K	$20K	20x
Deribit ETH-PERPETUAL	+0.0155%	1h	2,744.5	+0.094%	$258.8M	$196.1M	50x	as long as short
Kalshi KXETHPERP	+0.0157%	8h	2,742.5	+0.023%	$7.6M	$669.4M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0189%	8h	2,745	+0.114%	$32.3M	$11.3M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0221%	1h	2,744.1	+0.083%	$87.1M	$310.2M	100x	as long as short
Reya ETHRUSDPERP	+0.0226%	1h	2,742.3	+0.016%	$7.3M	$1.1M	25x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,741.4	−0.016%	$252K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0251%	8h	2,743	+0.043%	$285.0M	$182.0M	150x	as long as short