Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0161%/8h= +17.6% APRpaid last 24h −0.018%

Price spread now: OKX against RISEx−0.102%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$180.182% of the position

Long on RISEx Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.055%−$5 on $10k

Price spread, last 7 days+0.097%+$10 · spread now −0.102%, 7d avg −0.011%

Together, before fees+0.042%+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.091% cheaper against RISEx than usual: you would sell low and buy high (spread −0.102% now, against its 7-day average of −0.011%). If the spread goes back, that is −$9 on $10k: about 45 hours of funding at the current rate (+$5 a day). Mind the row above: over the last 3 days funding on this pair cost −0.055%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx ETH/USDC	2,756.1	−0.0128	get 0.0016% / 1h	1m 14s	$5.7M	$11.2M	25x
Short	OKX ETH-USDT-SWAP	2,753.3	0.0033	get 0.0033% / 8h	7h 01m	$1.69B	$10.96B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against RISEx. 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 RISExbpFee OKXbpOrdersPrice spread, now −0.102%Rate

Funding earned: $33.84
Price spread: −0.102% → −0.011%: −$9.09
Slippage, 4 orders: −$2.2
Fee RISEx: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: $6.55
Costs to cover: 0.182%
Break-even: 5.6 days

Slippage from RISEx: live order book, 3 min ago; OKX: live order book, 3 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 RISEx live order book, 3 min ago	0.02 bp	3.6 bp −$4	4.7 bp −$47	346.3 bp −$34.6K	doesn't fit
Sell OKX live order book, 3 min ago	0.02 bp	5.0 bp −$5	5.0 bp −$50	6.6 bp −$657	9.0 bp −$4,490

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	2,760.5	+0.160%	$118K	$22.5M	52x	as long as short
Perpl ETH	−0.0447%	43m	2,757.3	+0.043%	$323K	$6.1M	8.3x	as long as short
RISEx ETH/USDClong	−0.0128%	1h	2,756.1	long leg	$5.7M	$11.2M	25x
Hotstuff ETH-PERP	−0.0080%	1h	2,757.2	+0.040%	$5K	$1K	50x	as long as short
01 Exchange ETHUSD	−0.0032%	1h	2,756.2	+0.004%	$168K	$1.1M	50x	as long as short
Phoenix ETH	−0.0003%	1h	2,768.6	+0.454%	$868K	$3.7M	25x	as long as short
dYdX ETH-USD	+0.0003%	1h	2,757.8	+0.062%	$12.2M	$43.3M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,756.3	+0.006%	$22.3M	—	200x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0009% / S +0.0025%	1h	2,756.2	+0.002%	$12.4M	—	200x	as long as short
Bullet ETH-USD	+0.0018%	1h	2,755.8	−0.011%	$183K	$1.7M	20x	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	+0.0027%	8h	2,755.6	−0.018%	—	$1.20B	—	as long as short
OKX ETH-USDT-SWAPshort	+0.0033%	8h	2,753.3	−0.102%	$1.69B	$10.96B	100x
Aster ETHUSDT	+0.0044%	8h	2,755.1	−0.035%	$259.4M	$851.6M	200x	as long as short
SoDEX ETH-USD	+0.0047%	1h	2,753.9	−0.080%	$54.8M	$187.7M	40x	as long as short
Binance ETHUSDT	+0.0055%	8h	2,753.6	−0.090%	$6.42B	$16.09B	150x	as long as short
MEXC ETH_USDT	+0.0055%	8h	2,755.9	−0.008%	$1.60B	$2.67B	500x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,753.6	−0.089%	$4.9M	$156K	20x	as long as short
HTX ETH-USDT	+0.0059%	8h	2,753.3	−0.103%	$1.07B	$1.23B	200x	as long as short
Gate ETH_USDT	+0.0063%	8h	2,756.1	−0.002%	$3.39B	$9.17B	200x	as long as short
Aftermath Perps ETHUSD	+0.0072%	1h	2,765.1	+0.327%	$31K	$21K	20x	as long as short
ApeX Omni ETHUSDT	+0.0073%	1h	2,759.4	+0.119%	$8.8M	$31.4M	100x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,755.4	−0.026%	$59.9M	$4.38B	50x	as long as short
Phemex ETHUSDT	+0.0081%	8h	2,754.4	−0.063%	$268.0M	$65.9M	150x	as long as short
Bitget ETHUSDT	+0.0082%	8h	2,754.4	−0.062%	$2.08B	$2.83B	150x	as long as short
Vest ETH-PERP	+0.0089%	1h	2,757.2	+0.041%	—	$870K	50x	as long as short
KuCoin ETHUSDTM	+0.0089%	8h	2,756	−0.004%	$392.8M	$602.9M	100x	as long as short
Variational Omni ETH	+0.0094%	8h	2,755	−0.041%	$133.6M	$346.5M	—	as long as short
Lighter ETH	+0.0096%	1h	2,754.2	−0.069%	$114.0M	$462.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,755.8	−0.011%	$25.3M	$113.5M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,757.7	+0.058%	—	$35.6M	500x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,761.7	+0.204%	$15.9M	$8.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,756.3	+0.007%	$473K	$2.8M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,757.1	+0.037%	$14.3M	$112.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,758.2	+0.076%	$3.14B	$2.11B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,757.9	+0.065%	$31.2M	$328.9M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,753.9	−0.082%	$2.49B	$4.29B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,756.2	+0.004%	$2.8M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,756.9	+0.029%	$2.8M	$16.8M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,771.7	+0.566%	$172.0M	$293.3M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,757.5	+0.052%	$15.0M	$42.4M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,760.9	+0.173%	$183.2M	$752.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,767.1	+0.398%	$160.9M	$82.6M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,758.8	+0.098%	$21.3M	$65.0M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,755.6	−0.018%	$10.4M	$7.9M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,755.6	−0.019%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,756.4	+0.012%	$42.3M	$28.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,753.4	−0.097%	$964K	$12.7M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,753.8	−0.083%	$30.6M	$74.7M	50x	as long as short
Kalshi KXETHPERP	+0.0123%	8h	2,756.8	+0.025%	$7.9M	$670.3M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0135%	1h	2,755.2	−0.033%	$96.7M	$315.6M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0142%	1h	2,755.7	−0.014%	$259.0M	$200.7M	50x	as long as short
Orderly PERP_ETH_USDC	+0.0158%	8h	2,757.2	+0.041%	$32.5M	$11.0M	100x	as long as short
Hibachi ETH/USDT-P	+0.0168%	1h	2,759.2	+0.111%	$252K	$1.5M	20x	as long as short
BloFin ETH-USDT	+0.0175%	8h	2,752.4	−0.134%	$287.3M	$177.2M	150x	as long as short
Reya ETHRUSDPERP	+0.0215%	1h	2,755.7	−0.016%	$7.3M	$1.1M	25x	as long as short