Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0219%/8h= +23.9% APRpaid last 24h +0.041%

Price spread now: BloFin against 01 Exchange−0.041%7-day average −0.024% · 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−$29as in the Price arb table

costs, in and out, $10k−$280.277% of the position

Long on 01 Exchange Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.153%+$15 on $10k

Price spread, last 3 days (all we have)−0.110%−$11 · spread now −0.041%, 7d avg −0.024%

Together, before fees+0.043%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.024%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange ETHUSD	2,772.1	−0.0048	get 0.0006% / 1h	8m 04s	$171K	$1.2M	50x
Short	BloFin ETH-USDT	2,771	0.0171	get 0.0171% / 8h	2h 08m	$286.0M	$195.6M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against 01 Exchange. 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 01 ExchangebpFee BloFinbpOrdersPrice spread, now −0.041%Rate

Funding earned: $45.93
Price spread: −0.041% → −0.024%: −$1.64
Slippage, 4 orders: −$8.68
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: $16.6
Costs to cover: 0.277%
Break-even: 4.5 days

Slippage from 01 Exchange: live order book, 1 min ago; BloFin: live order book, 11 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 01 Exchange live order book, 1 min ago	0.18 bp	7.1 bp −$7	13.2 bp −$132	doesn't fit	doesn't fit
Sell BloFin live order book, 11 min ago	0.04 bp	6.0 bp −$6	6.0 bp −$60	6.9 bp −$692	8.6 bp −$4,311

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	−0.0112%	43m	2,771.6	−0.019%	$289K	$6.9M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0107%	1h	2,776.2	+0.148%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,772.4	+0.011%	$5K	$2K	50x	as long as short
01 Exchange ETHUSDlong	−0.0048%	1h	2,772.1	long leg	$171K	$1.2M	50x
Phoenix ETH	−0.0023%	1h	2,772.2	+0.004%	$885K	$3.7M	25x	as long as short
RISEx ETH/USDC	−0.0011%	1h	2,772.5	+0.014%	$5.7M	$11.8M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,771.7	−0.013%	$12.7M	$45.5M	50x	as long as short
Aftermath Perps ETHUSD	0.0000%	1h	2,773.4	+0.047%	$29K	$22K	20x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,772.9	+0.028%	$22.4M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0023%	8h	2,771.8	−0.010%	$1.71B	$11.90B	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	+0.0027%	8h	2,772.4	+0.011%	$267.0M	$66.0M	150x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,772.8	+0.027%	$13.2M	—	200x	as long as short
ApeX Omni ETHUSDT	+0.0033%	1h	2,770.3	−0.065%	$8.7M	$32.6M	100x	as long as short
Aster ETHUSDT	+0.0034%	8h	2,772	−0.003%	$256.4M	$995.5M	200x	as long as short
Aevo ETH-PERP	+0.0048%	1h	2,769.9	−0.078%	$5.0M	$636K	20x	as long as short
MEXC ETH_USDT	+0.0050%	8h	2,772.3	+0.008%	$1.59B	$2.69B	500x	as long as short
Binance ETHUSDT	+0.0051%	8h	2,772.3	+0.006%	$6.44B	$17.23B	150x	as long as short
Bitget ETHUSDT	+0.0075%	8h	2,772.2	+0.003%	$2.10B	$3.13B	150x	as long as short
Gate ETH_USDT	+0.0076%	8h	2,772.1	+0.001%	$3.28B	$9.70B	200x	as long as short
Bullet ETH-USD	+0.0080%	1h	2,772	−0.004%	$184K	$1.8M	20x	as long as short
Lighter ETH	+0.0096%	1h	2,772.7	+0.022%	$114.8M	$515.5M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,774.1	+0.071%	$25.4M	$123.2M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,772.5	+0.016%	—	$41.8M	500x	as long as short
Variational Omni ETH	+0.0097%	8h	2,770.2	−0.068%	$140.7M	$320.5M	—	as long as short
HTX ETH-USDT	+0.0099%	8h	2,771.5	−0.023%	$1.08B	$1.32B	200x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,771.8	−0.009%	$15.9M	$10.8M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,772.2	+0.004%	$486K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,771.7	−0.013%	$15.2M	$117.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,773.7	+0.058%	$3.19B	$2.39B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,772.6	+0.018%	$31.2M	$291.4M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,772.1	−0.001%	$2.51B	$4.63B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,771.5	−0.022%	$2.8M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,774.1	+0.071%	$2.8M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,770.6	−0.056%	$164.9M	$252.7M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,772.1	0.000%	$422.2M	$742.4M	100x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,771.8	−0.010%	—	$17.3M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,772.4	+0.012%	$15.4M	$42.9M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,770.5	−0.058%	$179.5M	$782.5M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,770.9	−0.042%	$161.2M	$97.3M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,772.2	+0.004%	$21.4M	$57.8M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,772.5	+0.016%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,773.6	+0.054%	$10.8M	$7.8M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,772.2	+0.005%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,774.5	+0.085%	$42.7M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,771.4	−0.026%	$972K	$14.1M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,772.1	0.000%	$55.2M	$228.6M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,771.7	−0.013%	$31.4M	$75.4M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,773.9	+0.064%	$59.9M	$4.63B	50x	as long as short
Kalshi KXETHPERP	+0.0114%	8h	2,772.9	+0.029%	$8.5M	$674.3M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0135%	8h	2,774.9	+0.100%	$32.6M	$12.0M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0136%	1h	2,773.9	+0.066%	$258.5M	$225.2M	50x	as long as short
BloFin ETH-USDTshort	+0.0171%	8h	2,771	−0.041%	$286.0M	$195.6M	150x
Reya ETHRUSDPERP	+0.0185%	1h	2,772.1	+0.001%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0240%	1h	2,773.5	+0.049%	$86.4M	$331.3M	100x	as long as short
Hibachi ETH/USDT-P	+0.0464%	1h	2,772.8	+0.027%	$281K	$1.5M	20x	as long as short