Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0100%/8h= −11.0% APRpaid last 24h 0.000%

Price spread now: SunX against Polymarket Perps−0.001%7-day average −0.034% · you buy dearer than you sell

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

Long on Polymarket Perps Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.199%−$20 · spread now −0.001%, 7d avg −0.034%

Together, before fees−0.198%−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.033% dearer against Polymarket Perps than usual: you sell high and buy low (spread −0.001% now, against its 7-day average of −0.034%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ETH-USD	2,731.2	0.0100	pay 0.0013% / 1h	35m 45s	$11.2M	$9.3M	50x
Short	SunX ETH-USDT	2,731.2	0.0000	pay 0.0000% / 8h	7h 35m	$942K	$10.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Polymarket 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 Polymarket PerpsbpFee SunXbpOrdersPrice spread, now −0.001%Rate

Funding earned: −$21.04
Price spread: −0.001% → −0.034%: $3.33
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$33.71
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Polymarket Perps: live order book, 3 min ago; SunX: live order book, 3 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 Polymarket Perps live order book, 3 min ago	27.55 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 3 min ago	0.62 bp	5.4 bp −$5	5.7 bp −$57	7.8 bp −$785	9.7 bp −$4,855

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
BloFin ETH-USDT	−0.0178%	8h	2,732	+0.028%	$280.8M	$177.6M	150x	as long as short
Perpl ETH	−0.0112%	43m	2,731	−0.007%	$277K	$5.7M	8.3x	as long as short
HTX ETH-USDT	−0.0095%	8h	2,730.8	−0.014%	$1.05B	$1.21B	200x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,732	+0.029%	$5K	$1K	50x	as long as short
Bybit ETHUSDT	−0.0055%	8h	2,731	−0.009%	$2.32B	$4.29B	150x	as long as short
Phemex ETHUSDT	−0.0050%	8h	2,731.4	+0.006%	$263.2M	$63.3M	150x	as long as short
Phoenix ETH	−0.0012%	1h	2,731.8	+0.022%	$806K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,731.3	+0.003%	$11.9M	—	200x	as long as short
SunX ETH-USDTshort	0.0000%	8h	2,731.2	−0.001%	$942K	$10.7M	100x
dYdX ETH-USD	0.0000%	1h	2,731.1	−0.004%	$10.6M	$41.9M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXETHPERP	0.0000%	8h	2,731.4	+0.007%	$6.7M	$670.6M	4.9x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,732.3	+0.040%	$264.6M	$219.3M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,731.3	+0.003%	$33.0M	—	200x	as long as short
ApeX Omni ETHUSDT	+0.0028%	1h	2,731.3	+0.002%	$8.4M	$31.2M	100x	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,731.1	−0.004%	$191K	$885K	50x	as long as short
Gate ETH_USDT	+0.0041%	8h	2,731.2	0.000%	$3.28B	$8.25B	200x	as long as short
SoDEX ETH-USD	+0.0049%	1h	2,731.4	+0.007%	$54.4M	$182.5M	40x	as long as short
Hibachi ETH/USDT-P	+0.0056%	1h	2,732.9	+0.062%	$237K	$1.4M	20x	as long as short
OKX ETH-USDT-SWAP	+0.0077%	8h	2,731.1	−0.005%	$1.66B	$10.68B	100x	as long as short
Aster ETHUSDT	+0.0077%	8h	2,731	−0.006%	$252.7M	$847.6M	200x	as long as short
KuCoin ETHUSDTM	+0.0083%	8h	2,731.4	+0.008%	$383.4M	$575.0M	100x	as long as short
MEXC ETH_USDT	+0.0088%	8h	2,731.4	+0.006%	$1.57B	$2.55B	500x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,729	−0.081%	$4.9M	$195K	20x	as long as short
Binance ETHUSDT	+0.0088%	8h	2,731.3	+0.005%	$6.32B	$16.04B	150x	as long as short
Bullet ETH-USD	+0.0091%	1h	2,730.3	−0.034%	$176K	$1.7M	20x	as long as short
Lighter ETH	+0.0096%	1h	2,732.2	+0.038%	$112.6M	$401.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,733.5	+0.082%	$23.7M	$95.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,731.4	+0.007%	—	$30.4M	500x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,730.7	−0.018%	$498K	$3.5M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,733.9	+0.100%	$15.4M	$7.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,730.4	−0.031%	$14.3M	$100.9M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,733.8	+0.095%	$3.11B	$2.03B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,731.7	+0.019%	$32.1M	$333.3M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,730.4	−0.029%	$2.7M	$16.3M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,730.9	−0.010%	$1.6M	$15.8M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,729.4	−0.066%	$164.7M	$339.6M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,731.6	+0.015%	$2.11B	$2.74B	150x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,730.5	−0.026%	—	$18.7M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,731.8	+0.022%	$15.2M	$39.9M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,730.8	−0.016%	$132.0M	$316.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,730.3	−0.034%	$185.8M	$682.5M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,731	−0.008%	$158.8M	$79.8M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,731.6	+0.015%	$21.0M	$70.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,732.3	+0.040%	—	$441K	50x	as long as short
Polymarket Perps ETH-USDlong	+0.0100%	1h	2,731.2	long leg	$11.2M	$9.3M	50x
Derive ETH-PERP	+0.0100%	1h	2,732.9	+0.061%	$40.6M	$29.2M	15x	as long as short
Extended ETH-USD	+0.0104%	1h	2,730.6	−0.023%	$30.5M	$71.0M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0105%	1h	2,732.3	+0.042%	$82.0M	$309.4M	100x	as long as short
Aftermath Perps ETHUSD	+0.0119%	1h	2,731.5	+0.010%	$30K	$20K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,732.5	+0.048%	$46.1M	$4.24B	50x	as long as short
RISEx ETH/USDC	+0.0137%	1h	2,731.4	+0.006%	$5.7M	$11.4M	25x	as long as short
Reya ETHRUSDPERP	+0.0173%	1h	2,730.9	−0.010%	$7.3M	$972K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0185%	8h	2,733.3	+0.077%	$32.2M	$11.1M	100x	as long as short
Injective ETH/USDC PERP	+0.0253%	1h	2,736.9	+0.209%	$117K	$21.0M	52x	as long as short
Bluefin ETH-PERP	+0.2084%	1h	2,731.7	+0.018%	$20K	$23K	25x	as long as short