Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h +0.007%

Price spread now: SunX against RISEx−0.034%7-day average −0.037% · 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−$18as in the Price arb table

costs, in and out, $10k−$180.180% of the position

Long on RISEx Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.022%−$2 on $10k

Price spread, last 4 days (all we have)−0.132%−$13 · spread now −0.034%, 7d avg −0.037%

Together, before fees−0.154%−$15 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx ETH/USDC	2,732.1	0.0099	pay 0.0012% / 1h	40m 12s	$5.6M	$11.5M	25x
Short	SunX ETH-USDT	2,731.2	0.0100	get 0.0100% / 8h	4h 40m	$957K	$11.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.034%Rate

Funding earned: $0.21
Price spread: −0.034% → −0.037%: $0.31
Slippage, 4 orders: −$4.01
Fee RISEx: 3 bp × 2 orders: −$6
Fee SunX: 4 bp × 2 orders: −$8
Net: −$17.5
Costs to cover: 0.180%
Break-even: 598.4 days

Slippage from RISEx: live order book, 4 min ago; SunX: live order book, 9 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, 4 min ago	0.02 bp	3.7 bp −$4	4.0 bp −$40	243.7 bp −$24.4K	doesn't fit
Sell SunX live order book, 9 min ago	0.26 bp	6.9 bp −$7	7.2 bp −$72	8.8 bp −$875	10.6 bp −$5,310

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
Perpl ETH	−0.0447%	43m	2,731.9	−0.011%	$298K	$5.6M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,728.7	−0.126%	$117K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,732.1	−0.002%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,730.9	−0.045%	$11.9M	—	200x	as long as short
ApeX Omni ETHUSDT	−0.0005%	1h	2,729.9	−0.084%	$8.9M	$31.3M	100x	as long as short
dYdX ETH-USD	0.0000%	1h	2,731.3	−0.032%	$10.7M	$41.7M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,731.8	−0.013%	$188K	$842K	50x	as long as short
Phoenix ETH	0.0000%	1h	2,728.8	−0.123%	$832K	$2.9M	25x	as long as short
Bullet ETH-USD	+0.0005%	1h	2,730.5	−0.061%	$180K	$1.7M	20x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,730.4	−0.064%	$26.5M	—	200x	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	+0.0059%	8h	2,728.6	−0.130%	—	$1.14B	—	as long as short
SoDEX ETH-USD	+0.0059%	1h	2,729.4	−0.101%	$54.4M	$187.6M	40x	as long as short
KuCoin ETHUSDTM	+0.0069%	8h	2,728.5	−0.132%	$380.0M	$576.2M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0072%	8h	2,728.5	−0.134%	$1.67B	$10.70B	100x	as long as short
HTX ETH-USDT	+0.0078%	8h	2,728.3	−0.143%	$1.05B	$1.20B	200x	as long as short
Aster ETHUSDT	+0.0080%	8h	2,730.6	−0.057%	$251.4M	$844.4M	200x	as long as short
Deribit ETH-PERPETUAL	+0.0080%	1h	2,730.7	−0.054%	$260.1M	$196.6M	50x	as long as short
Bybit ETHUSDT	+0.0086%	8h	2,728.3	−0.142%	$2.39B	$4.34B	150x	as long as short
MEXC ETH_USDT	+0.0088%	8h	2,728.8	−0.123%	$1.52B	$2.55B	500x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,728.9	−0.118%	$4.9M	$155K	20x	as long as short
Binance ETHUSDT	+0.0088%	8h	2,729.4	−0.101%	$6.34B	$15.86B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,729.3	−0.104%	$112.1M	$436.0M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,730.4	−0.063%	$23.2M	$105.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,732.2	+0.003%	—	$30.6M	500x	as long as short
Phemex ETHUSDT	+0.0097%	8h	2,729.8	−0.087%	$265.3M	$65.5M	150x	as long as short
Paradex ETH-USD-PERP	+0.0098%	8h	2,734.8	+0.096%	$15.6M	$8.0M	50x	as long as short
RISEx ETH/USDClong	+0.0099%	1h	2,732.1	long leg	$5.6M	$11.5M	25x
Katana Perps ETH-USD	+0.0100%	8h	2,731	−0.042%	$500K	$3.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,730.7	−0.053%	$13.8M	$104.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,731.1	−0.038%	$3.10B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,732.8	+0.024%	$31.6M	$333.8M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,731.7	−0.016%	$2.7M	$17.0M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,732.2	+0.002%	$2.8M	$16.2M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,728.8	−0.123%	$3.34B	$8.83B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,728.6	−0.128%	$2.07B	$2.75B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,728.4	−0.136%	$15.0M	$39.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,729.3	−0.105%	$133.2M	$325.2M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,730.8	−0.050%	$183.7M	$669.7M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,730.7	−0.055%	$158.9M	$86.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,729.7	−0.090%	$21.1M	$69.2M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,731.6	−0.018%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,732.4	+0.009%	$11.2M	$9.1M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,731.7	−0.017%	$41.2M	$29.7M	15x	as long as short
SunX ETH-USDTshort	+0.0100%	8h	2,731.2	−0.034%	$957K	$11.4M	100x
Bulk ETH-USD	+0.0100%	1h	2,730.9	−0.046%	$166.8M	$318.0M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,729.3	−0.103%	$30.4M	$72.7M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,731	−0.044%	$51.5M	$4.26B	50x	as long as short
Aftermath Perps ETHUSD	+0.0124%	1h	2,731.7	−0.018%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0150%	8h	2,731.1	−0.038%	$6.5M	$677.8M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0193%	8h	2,732.7	+0.021%	$32.1M	$11.6M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0222%	1h	2,729.5	−0.096%	$84.1M	$313.9M	100x	as long as short
Reya ETHRUSDPERP	+0.0222%	1h	2,730	−0.079%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,731.5	−0.022%	$253K	$1.4M	20x	as long as short
Bluefin ETH-PERP	+0.0312%	1h	2,730.8	−0.050%	$21K	$20K	25x	as long as short
BloFin ETH-USDT	+0.0354%	8h	2,730.3	−0.068%	$282.9M	$174.9M	150x	as long as short