Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0064%/8h= −7.1% APRpaid last 24h −0.003%

Price spread now: HTX against Vest−0.060%7-day average −0.038% · you buy dearer than you sell

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

Long on Vest Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.014%−$1 on $10k

Price spread, last 4 days (all we have)+0.005%+$1 · spread now −0.060%, 7d avg −0.038%

Together, before fees−0.009%+ Points / potential airdropVest: Active · farm board−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and HTX is 0.022% cheaper against Vest than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.038%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest ETH-PERP	2,725.6	0.0100	pay 0.0013% / 1h	5m 15s	—	$445K	50x
Short	HTX ETH-USDT	2,724	0.0036	get 0.0036% / 8h	5m 15s	$1.05B	$1.21B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Vest. 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 VestbpFee HTXbpOrdersPrice spread, now −0.060%Rate

Funding earned: −$13.54
Price spread: −0.060% → −0.038%: −$2.25
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee HTX: 6 bp × 2 orders: −$12
Net: −$29.79
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; HTX: live order book, 4 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 Vest no order-book sample	—	—	—	—	—
Sell HTX live order book, 4 min ago	0.02 bp	6.0 bp −$6	6.0 bp −$60	8.0 bp −$800	11.7 bp −$5,841

Vest: 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	2,723.4	−0.082%	$273K	$5.7M	8.3x	as long as short
BloFin ETH-USDT	−0.0129%	8h	2,724	−0.060%	$281.0M	$177.6M	150x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,723.9	−0.063%	$5K	$1K	50x	as long as short
Phoenix ETH	−0.0015%	1h	2,723.3	−0.085%	$808K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,724.4	−0.044%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,723.5	−0.080%	$10.5M	$41.8M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,725	−0.023%	$6.7M	$674.2M	4.9x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,724.8	−0.030%	$264.4M	$215.4M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,724.6	−0.038%	$32.9M	—	200x	as long as short
BingX ETH-USDT	+0.0018%	8h	2,724.3	−0.049%	—	$1.08B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0022%	8h	2,724.3	−0.050%	$2.31B	$4.32B	150x	as long as short
HTX ETH-USDTshort	+0.0036%	8h	2,724	−0.060%	$1.05B	$1.21B	200x
01 Exchange ETHUSD	+0.0040%	1h	2,725	−0.023%	$189K	$883K	50x	as long as short
Injective ETH/USDC PERP	+0.0050%	1h	2,727.2	+0.058%	$117K	$22.2M	52x	as long as short
Kraken Futures PF_ETHUSD	+0.0060%	1h	2,724.9	−0.027%	$82.0M	$310.2M	100x	as long as short
Hibachi ETH/USDT-P	+0.0072%	1h	2,724.1	−0.057%	$239K	$1.4M	20x	as long as short
ApeX Omni ETHUSDT	+0.0075%	1h	2,723.5	−0.078%	$8.4M	$31.3M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0076%	8h	2,724.2	−0.053%	$1.65B	$10.75B	100x	as long as short
KuCoin ETHUSDTM	+0.0079%	8h	2,724.5	−0.042%	$382.6M	$575.3M	100x	as long as short
Aster ETHUSDT	+0.0082%	8h	2,724.1	−0.058%	$252.0M	$850.7M	200x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,722	−0.132%	$4.9M	$183K	20x	as long as short
MEXC ETH_USDT	+0.0092%	8h	2,724.3	−0.051%	$1.58B	$2.59B	500x	as long as short
Binance ETHUSDT	+0.0092%	8h	2,724.2	−0.053%	$6.30B	$16.08B	150x	as long as short
Aftermath Perps ETHUSD	+0.0095%	1h	2,724.2	−0.051%	$30K	$20K	20x	as long as short
Lighter ETH	+0.0096%	1h	2,724.7	−0.034%	$112.2M	$433.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,726	+0.012%	$23.3M	$102.7M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,724.1	−0.056%	$499K	$3.6M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,727.5	+0.067%	$15.4M	$7.5M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,724.4	−0.045%	$14.1M	$104.5M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,726.5	+0.033%	$3.10B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,724.2	−0.054%	$31.9M	$334.0M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,723.3	−0.085%	$2.7M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,724.9	−0.025%	$1.6M	$15.9M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,724.5	−0.043%	$3.31B	$8.96B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,724.2	−0.051%	$2.11B	$2.76B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,722.7	−0.109%	$15.0M	$40.5M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,722.5	−0.114%	$133.2M	$316.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,722.2	−0.127%	$185.2M	$682.7M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,723.2	−0.089%	$158.2M	$82.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,723.4	−0.082%	$20.9M	$69.8M	40x	as long as short
Vest ETH-PERPlong	+0.0100%	1h	2,725.6	long leg	—	$445K	50x
Polymarket Perps ETH-USD	+0.0100%	1h	2,725.6	−0.001%	$11.2M	$9.4M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,724	−0.060%	$181K	$1.7M	20x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,724.2	−0.053%	$40.7M	$30.0M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,723.9	−0.064%	$956K	$10.7M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,724	−0.060%	$54.2M	$182.6M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,724.4	−0.045%	$262.4M	$64.0M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,722.9	−0.101%	$160.5M	$349.9M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,723.3	−0.084%	$30.4M	$71.2M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0056%	1h	2,723.4	−0.081%	—	$30.1M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,725.8	+0.005%	$46.6M	$4.25B	50x	as long as short
RISEx ETH/USDC	+0.0114%	1h	2,725.1	−0.018%	$5.6M	$11.7M	25x	as long as short
Reya ETHRUSDPERP	+0.0177%	1h	2,723.7	−0.070%	$7.3M	$972K	25x	as long as short
Bluefin ETH-PERP	+0.0180%	1h	2,724.9	−0.025%	$20K	$23K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0186%	8h	2,727	+0.051%	$32.1M	$11.3M	100x	as long as short