Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.018%

Price spread now: Bluefin against StandX+0.143%50s7-day average — · you sell dearer than you buy

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

Long on StandX Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropStandX: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bluefin is 0.143% dearer against StandX than usual: you sell high and buy low, +$14 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	StandX ETH-USD	2,771.4	0.0100	pay 0.0013% / 1h	5m 31s	$21.4M	$58.2M	40x
Short	Bluefin ETH-PERP	2,775.4	0.0100	get 0.0013% / 1h	5m 31s	$21K	$24K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against StandX. 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 StandXbpFee BluefinbpOrdersPrice spread, now +0.143%Rate

Funding earned: $0
Price spread: +0.143% → 0.000%: $14.25
Slippage, 4 orders: no order book: not counted
Fee StandX: 4 bp × 2 orders: −$8
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$0.75
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: StandX: live order book, 4 min ago; Bluefin: 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 StandX live order book, 4 min ago	1.08 bp	5.4 bp −$5	6.6 bp −$66	8.0 bp −$802	12.0 bp −$6,002
Sell Bluefin no order-book sample	—	—	—	—	—

Bluefin: 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
Perpl ETH	−0.0447%	43m	2,774.9	+0.126%	$288K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,774.8	+0.123%	$5.7M	$11.9M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,775.5	+0.148%	$5K	$2K	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,779.6	+0.296%	$119K	$22.5M	52x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,774.8	+0.123%	$169K	$1.2M	50x	as long as short
dYdX ETH-USD	0.0000%	1h	2,775.2	+0.139%	$12.7M	$45.7M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,775.6	+0.152%	$885K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,776.2	+0.174%	$22.4M	—	200x	as long as short
Aftermath Perps ETHUSD	+0.0009%	1h	2,774.4	+0.107%	$29K	$22K	20x	as long as short
OKX ETH-USDT-SWAP	+0.0017%	8h	2,775.2	+0.136%	$1.70B	$11.86B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex ETHUSDT	+0.0022%	8h	2,774.7	+0.120%	$270.2M	$68.8M	150x	as long as short
Bullet ETH-USD	+0.0025%	1h	2,775.5	+0.147%	$182K	$1.7M	20x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0027% / S +0.0009%	1h	2,776.1	+0.170%	$12.9M	—	200x	as long as short
Aster ETHUSDT	+0.0031%	8h	2,775.3	+0.141%	$255.8M	$995.1M	200x	as long as short
ApeX Omni ETHUSDT	+0.0047%	1h	2,770.8	−0.022%	$8.7M	$32.6M	100x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,772.2	+0.029%	$5.0M	$636K	20x	as long as short
Nado ETH-PERP	+0.0057%	1h	2,774.9	+0.127%	$14.2M	$118.1M	50x	as long as short
MEXC ETH_USDT	+0.0058%	8h	2,775.7	+0.155%	$1.60B	$2.68B	500x	as long as short
Binance ETHUSDT	+0.0059%	8h	2,775.5	+0.148%	$6.44B	$17.23B	150x	as long as short
Deribit ETH-PERPETUAL	+0.0063%	1h	2,776.5	+0.183%	$258.7M	$222.4M	50x	as long as short
SoDEX ETH-USD	+0.0065%	1h	2,774.8	+0.123%	$55.2M	$229.0M	40x	as long as short
Bitget ETHUSDT	+0.0066%	8h	2,775.5	+0.146%	$2.10B	$3.10B	150x	as long as short
Gate ETH_USDT	+0.0072%	8h	2,775	+0.130%	$3.29B	$9.68B	200x	as long as short
HTX ETH-USDT	+0.0088%	8h	2,774.6	+0.116%	$1.08B	$1.32B	200x	as long as short
Bybit ETHUSDT	+0.0092%	8h	2,775.3	+0.142%	$2.52B	$4.62B	150x	as long as short
BingX ETH-USDC	+0.0092%	8h	2,775	+0.130%	—	$17.4M	—	as long as short
KuCoin ETHUSDTM	+0.0095%	8h	2,775.2	+0.136%	$421.8M	$739.1M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,775	+0.131%	$115.1M	$503.3M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,776.7	+0.191%	$25.5M	$121.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,775.8	+0.159%	—	$41.6M	500x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,774.7	+0.117%	$15.9M	$10.5M	50x	as long as short
Vest ETH-PERP	+0.0099%	1h	2,775.5	+0.148%	—	$1.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,774.9	+0.126%	$477K	$2.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,778	+0.238%	$3.19B	$2.35B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,775.2	+0.137%	$31.2M	$303.9M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,774.5	+0.112%	$2.8M	$17.1M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,776.3	+0.177%	$2.7M	$17.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,770.8	−0.021%	$166.1M	$253.0M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,774.7	+0.119%	$15.1M	$44.2M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,770.9	−0.020%	$144.7M	$334.7M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,770.4	−0.038%	$181.4M	$780.7M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,773.3	+0.070%	$161.3M	$91.0M	50x	as long as short
StandX ETH-USDlong	+0.0100%	1h	2,771.4	long leg	$21.4M	$58.2M	40x
Polymarket Perps ETH-USD	+0.0100%	1h	2,776.8	+0.195%	$10.8M	$7.6M	50x	as long as short
Bluefin ETH-PERPshort	+0.0100%	1h	2,775.4	+0.143%	$21K	$24K	25x
Derive ETH-PERP	+0.0100%	1h	2,777.4	+0.216%	$42.7M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,774.2	+0.099%	$973K	$14.0M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,774.4	+0.107%	$32.6M	$77.4M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,776.2	+0.171%	$59.9M	$4.60B	50x	as long as short
Kalshi KXETHPERP	+0.0125%	8h	2,775	+0.130%	$8.3M	$681.5M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0136%	8h	2,778	+0.237%	$32.6M	$12.0M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0170%	1h	2,776	+0.165%	$86.4M	$332.4M	100x	as long as short
BloFin ETH-USDT	+0.0180%	8h	2,772.7	+0.047%	$284.7M	$194.4M	150x	as long as short
Reya ETHRUSDPERP	+0.0195%	1h	2,775.4	+0.144%	$7.4M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0272%	1h	2,773.3	+0.068%	$270K	$1.5M	20x	as long as short