Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Katana Perps against Vest−0.066%7-day average −0.031% · you buy dearer than you sell

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

Long on Vest Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.012%+$1 on $10k

Price spread, last 4 days (all we have)−0.097%−$10 · spread now −0.066%, 7d avg −0.031%

Together, before fees−0.085%+ Points / potential airdropVest: Active · farm board−$9 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Katana Perps is 0.036% cheaper against Vest than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest ETH-PERP	2,733.8	0.0100	pay 0.0013% / 1h	12m 20s	—	$445K	50x
Short	Katana Perps ETH-USD	2,732	0.0100	get 0.0100% / 8h	1h 12m	$502K	$3.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against Vest. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Katana PerpsbpOrdersPrice spread, now −0.066%Rate

Funding earned: −$0.04
Price spread: −0.066% → −0.031%: −$3.55
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$9.39
Costs to cover: 0.058%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; Katana Perps: 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 Vest no order-book sample	—	—	—	—	—
Sell Katana Perps no order-book sample	—	—	—	—	—

Vest and Katana Perps: 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 54 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
Hotstuff ETH-PERP	−0.0080%	1h	2,732.8	−0.037%	$5K	$1K	50x	as long as short
Injective ETH/USDC PERP	−0.0040%	1h	2,735.1	+0.047%	$117K	$22.5M	52x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,732.4	−0.050%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,733.5	−0.012%	$813K	$3.0M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,732.4	−0.054%	$10.5M	$42.9M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,733.5	−0.012%	$6.6M	$684.0M	4.9x	as long as short
Perpl ETH	0.0000%	43m	2,732.4	−0.050%	$288K	$5.8M	8.3x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,733.2	−0.023%	$262.6M	$213.7M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,733.4	−0.015%	$33.0M	—	200x	as long as short
ApeX Omni ETHUSDT	+0.0012%	1h	2,732.8	−0.039%	$8.6M	$31.5M	100x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ETHUSD	+0.0016%	1h	2,732.7	−0.041%	$191K	$891K	50x	as long as short
BingX ETH-USDT	+0.0024%	8h	2,731.8	−0.074%	—	$1.10B	—	as long as short
HTX ETH-USDT	+0.0025%	8h	2,732	−0.066%	$1.05B	$1.22B	200x	as long as short
Bybit ETHUSDT	+0.0028%	8h	2,731.9	−0.071%	$2.34B	$4.38B	150x	as long as short
KuCoin ETHUSDTM	+0.0067%	8h	2,731.8	−0.073%	$375.2M	$575.9M	100x	as long as short
SoDEX ETH-USD	+0.0074%	1h	2,732.2	−0.059%	$54.4M	$187.1M	40x	as long as short
OKX ETH-USDT-SWAP	+0.0083%	8h	2,731.7	−0.077%	$1.65B	$10.87B	100x	as long as short
Aster ETHUSDT	+0.0085%	8h	2,731.8	−0.073%	$253.1M	$847.7M	200x	as long as short
Phemex ETHUSDT	+0.0088%	8h	2,732.1	−0.065%	$263.1M	$64.4M	150x	as long as short
Bullet ETH-USD	+0.0091%	1h	2,731.9	−0.070%	$190K	$1.7M	20x	as long as short
MEXC ETH_USDT	+0.0095%	8h	2,732	−0.067%	$1.54B	$2.61B	500x	as long as short
Binance ETHUSDT	+0.0096%	8h	2,731.9	−0.069%	$6.33B	$16.12B	150x	as long as short
Aftermath Perps ETHUSD	+0.0096%	1h	2,733.5	−0.013%	$30K	$20K	20x	as long as short
Lighter ETH	+0.0096%	1h	2,733.2	−0.022%	$112.8M	$438.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,734.2	+0.016%	$23.5M	$103.4M	50x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,729.8	−0.146%	$4.9M	$165K	20x	as long as short
Katana Perps ETH-USDshort	+0.0100%	8h	2,732	−0.066%	$502K	$3.5M	50x
Paradex ETH-USD-PERP	+0.0100%	8h	2,737.5	+0.136%	$15.3M	$7.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,732.3	−0.054%	$14.1M	$104.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,734.1	+0.010%	$3.11B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,733.6	−0.008%	$32.2M	$333.7M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,732.3	−0.055%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,732.7	−0.043%	$1.5M	$16.2M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,734.2	+0.013%	$164.8M	$347.1M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,732.1	−0.063%	$3.31B	$9.04B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,732	−0.067%	$2.10B	$2.77B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,732.7	−0.040%	$15.1M	$42.4M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,732.7	−0.041%	$134.1M	$322.6M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,732.6	−0.045%	$185.8M	$684.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,733.2	−0.024%	$158.8M	$85.9M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,733.9	+0.003%	$21.0M	$70.6M	40x	as long as short
Vest ETH-PERPlong	+0.0100%	1h	2,733.8	long leg	—	$445K	50x
Polymarket Perps ETH-USD	+0.0100%	1h	2,733.3	−0.019%	$11.2M	$9.5M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,733.1	−0.025%	$22K	$21K	25x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,731.6	−0.082%	$958K	$11.0M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,731.2	−0.097%	$30.4M	$73.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0056%	1h	2,733	−0.029%	—	$30.4M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,733.5	−0.011%	$46.8M	$4.32B	50x	as long as short
RISEx ETH/USDC	+0.0115%	1h	2,733.7	−0.004%	$5.6M	$11.6M	25x	as long as short
Hibachi ETH/USDT-P	+0.0168%	1h	2,733.3	−0.020%	$242K	$1.4M	20x	as long as short
Orderly PERP_ETH_USDC	+0.0186%	8h	2,734.3	+0.018%	$32.2M	$11.4M	100x	as long as short
Reya ETHRUSDPERP	+0.0188%	1h	2,731.4	−0.089%	$7.3M	$975K	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0210%	1h	2,732.9	−0.034%	$82.1M	$309.9M	100x	as long as short
BloFin ETH-USDT	+0.0383%	8h	2,732.5	−0.047%	$280.6M	$175.4M	150x	as long as short