Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0015%/8h= +1.6% APRpaid last 24h +0.006%

Price spread now: SunX against SoDEX−0.018%7-day average −0.007% · 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−$21as in the Price arb table

costs, in and out, $10k−$200.197% of the position

Long on SoDEX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.004%$0 on $10k

Price spread, last 3 days (all we have)−0.050%−$5 · spread now −0.018%, 7d avg −0.007%

Together, before fees−0.046%−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.007%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX ETH-USD	2,772.9	0.0085	pay 0.0011% / 1h	46m 49s	$55.2M	$228.7M	40x
Short	SunX ETH-USDT	2,772.4	0.0100	get 0.0100% / 8h	1h 46m	$972K	$14.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against SoDEX. 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 SoDEXbpFee SunXbpOrdersPrice spread, now −0.018%Rate

Funding earned: $3.06
Price spread: −0.018% → −0.007%: −$1.04
Slippage, 4 orders: −$3.66
Fee SoDEX: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$17.63
Costs to cover: 0.197%
Break-even: 47.3 days

Slippage from SoDEX: live order book, 2 min ago; SunX: live order book, 12 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 SoDEX live order book, 2 min ago	0.18 bp	4.2 bp −$4	4.2 bp −$42	5.5 bp −$546	32.5 bp −$16.2K
Sell SunX live order book, 12 min ago	0.45 bp	4.5 bp −$4	4.7 bp −$47	6.9 bp −$691	doesn't fit

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	2,773.9	+0.035%	$289K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,774.7	+0.066%	$5.8M	$12.0M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,775.3	+0.087%	$5K	$2K	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,762.7	−0.368%	$119K	$22.5M	52x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,775.2	+0.083%	$169K	$1.2M	50x	as long as short
Aftermath Perps ETHUSD	−0.0008%	1h	2,772.9	−0.001%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,774.5	+0.057%	$12.7M	$45.5M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,772.5	−0.014%	$884K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,773.7	+0.028%	$22.4M	—	200x	as long as short
Phemex ETHUSDT	+0.0016%	8h	2,772.8	−0.004%	$267.1M	$65.7M	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDC	+0.0018%	8h	2,773.9	+0.036%	—	$17.4M	—	as long as short
OKX ETH-USDT-SWAP	+0.0020%	8h	2,774	+0.040%	$1.71B	$11.83B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,773.7	+0.030%	$13.2M	—	200x	as long as short
Aster ETHUSDT	+0.0030%	8h	2,774.2	+0.046%	$256.5M	$991.9M	200x	as long as short
Nado ETH-PERP	+0.0033%	1h	2,774	+0.040%	$14.3M	$118.2M	50x	as long as short
Bullet ETH-USD	+0.0033%	1h	2,773	+0.004%	$181K	$1.8M	20x	as long as short
Aevo ETH-PERP	+0.0048%	1h	2,771.4	−0.053%	$5.0M	$636K	20x	as long as short
MEXC ETH_USDT	+0.0052%	8h	2,774.4	+0.053%	$1.61B	$2.64B	500x	as long as short
Binance ETHUSDT	+0.0054%	8h	2,773.6	+0.024%	$6.44B	$17.13B	150x	as long as short
Hibachi ETH/USDT-P	+0.0072%	1h	2,773.3	+0.013%	$287K	$1.5M	20x	as long as short
Bitget ETHUSDT	+0.0073%	8h	2,774.1	+0.043%	$2.10B	$3.11B	150x	as long as short
Gate ETH_USDT	+0.0082%	8h	2,774.1	+0.043%	$3.29B	$9.55B	200x	as long as short
SoDEX ETH-USDlong	+0.0085%	1h	2,772.9	long leg	$55.2M	$228.7M	40x
HTX ETH-USDT	+0.0096%	8h	2,773.7	+0.030%	$1.08B	$1.32B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,773.9	+0.036%	$115.1M	$496.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,775.1	+0.080%	$25.4M	$120.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,773.3	+0.013%	—	$41.3M	500x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,774.2	+0.045%	$15.9M	$10.6M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,775.3	+0.087%	$482K	$2.8M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,774.2	+0.045%	$2.52B	$4.61B	150x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,776.7	+0.136%	$3.19B	$2.38B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,775.3	+0.086%	$31.2M	$295.5M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,774.3	+0.050%	$2.8M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,776.5	+0.131%	$2.8M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,770.6	−0.083%	$166.0M	$246.3M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,774.1	+0.042%	$424.4M	$738.0M	100x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,774.7	+0.063%	$15.3M	$44.0M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,770.1	−0.102%	$135.6M	$326.7M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,770.7	−0.080%	$179.6M	$779.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,771.6	−0.046%	$161.2M	$94.7M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,771	−0.069%	$8.7M	$32.7M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,772.8	−0.004%	$21.4M	$57.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,774.3	+0.051%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,776	+0.112%	$10.8M	$7.7M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,775.4	+0.091%	$42.7M	$29.3M	15x	as long as short
SunX ETH-USDTshort	+0.0100%	8h	2,772.4	−0.018%	$972K	$14.0M	100x
Extended ETH-USD	+0.0104%	1h	2,773.5	+0.022%	$31.4M	$74.8M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,774.4	+0.052%	$60.2M	$4.60B	50x	as long as short
Kalshi KXETHPERP	+0.0108%	8h	2,774.2	+0.047%	$8.6M	$673.5M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0111%	1h	2,774.8	+0.069%	$258.4M	$223.9M	50x	as long as short
Orderly PERP_ETH_USDC	+0.0139%	8h	2,775.8	+0.103%	$32.6M	$12.0M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0170%	1h	2,773.9	+0.035%	$86.1M	$330.6M	100x	as long as short
BloFin ETH-USDT	+0.0172%	8h	2,772.8	−0.002%	$285.2M	$194.7M	150x	as long as short
Reya ETHRUSDPERP	+0.0188%	1h	2,773.7	+0.030%	$7.4M	$1.1M	25x	as long as short
Bluefin ETH-PERP	+0.0342%	1h	2,774	+0.040%	$21K	$25K	25x	as long as short