Funding arb · Price arb /

EIGEN

all EIGEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0260%/8h= −28.5% APRpaid last 24h −0.017%

Price spread now: Binance against Coinbase International−0.258%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$152as in the Funding arb table

Net, price: spread back to 7d avg − costs−$176as in the Price arb table

costs, in and out, $10k−$1541.542% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.024%+$2 on $10k

Price spread, last 4 days (all we have)+0.274%+$27 · spread now −0.258%, 7d avg −0.039%

Together, before fees+0.298%+$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Binance is 0.219% cheaper against Coinbase International than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of −0.039%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.024% in total (about 1.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International EIGEN-PERP-INTX	0.2399	0.0360	pay 0.0045% / 1h	15m 02s	$40K	$269K	50x
Short	Binance EIGENUSDT	0.2393	0.0100	get 0.0050% / 4h	2h 15m	$8.1M	$19.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now −0.258%Rate

Funding earned: −$54.6
Price spread: −0.258% → −0.039%: −$21.92
Slippage, 4 orders: −$134.18
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$230.7
Costs to cover: 1.542%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 33 min ago; Binance: 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 Coinbase International live order book, 33 min ago	6.91 bp	90.3 bp −$90	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	2.11 bp	18.3 bp −$18	46.3 bp −$463	459.5 bp −$46.0K	doesn't fit

EIGEN on 26 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
Bybit EIGENUSDT	−0.0346%	4h	0.2393	−0.275%	$9.2M	$7.2M	50x	as long as short
01 Exchange EIGENUSD	−0.0048%	1h	0.2396	−0.133%	$812	$5K	10x	as long as short
dYdX EIGEN-USD	0.0000%	1h	0.2392	−0.320%	$3K	—	5x	as long as short
Deribit EIGEN_USDC-PERPETUAL	0.0000%	1h	0.2393	−0.271%	—	$41	10x	as long as short
Injective EIGEN/USDC PERP	+0.0033%	1h	0.2438	+1.617%	$6	$6	5.5x	as long as short
BloFin EIGEN-USDT	+0.0048%	4h	0.2392	−0.300%	$302K	$114K	75x	as long as short
Gate EIGEN_USDT	+0.0072%	4h	0.2391	−0.342%	$719K	$581K	50x	as long as short
Lighter EIGEN	+0.0096%	1h	0.2398	−0.054%	$539K	$508K	5x	as long as short
Nado EIGEN-PERP	+0.0100%	1h	0.2395	−0.154%	$37K	$20K	3x	as long as short
Hyperliquid EIGEN	+0.0100%	1h	0.2398	−0.050%	$4.5M	$1.7M	5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster EIGENUSDT	+0.0100%	4h	0.2395	−0.186%	$44K	$26K	5x	as long as short
Binance EIGENUSDTshort	+0.0100%	4h	0.2393	−0.258%	$8.1M	$19.9M	75x
OKX EIGEN-USDT-SWAP	+0.0100%	4h	0.2392	−0.300%	$1.6M	$4.8M	20x	as long as short
MEXC EIGEN_USDT	+0.0100%	4h	0.2393	−0.258%	$7.9M	$2.4M	125x	as long as short
KuCoin EIGENUSDTM	+0.0100%	4h	0.2393	−0.258%	$2.4M	$9.9M	50x	as long as short
Bitget EIGENUSDT	+0.0100%	4h	0.2392	−0.300%	$1.8M	$1.4M	75x	as long as short
BingX EIGEN-USDT	+0.0100%	4h	0.2394	−0.217%	—	$1.6M	—	as long as short
Variational Omni EIGEN	+0.0100%	4h	0.2393	−0.254%	$210K	$138K	—	as long as short
GRVT EIGEN_USDT_Perp	+0.0100%	4h	0.2395	−0.180%	$181K	$2.5M	10x	as long as short
ApeX Omni EIGENUSDT	+0.0100%	1h	0.2390	−0.383%	$35K	$231K	50x	as long as short
Orderly PERP_EIGEN_USDC_mythos	+0.0100%	4h	0.2393	−0.258%	$1K	$4K	10x	as long as short
Extended EIGEN-USD	+0.0104%	1h	0.2392	−0.295%	$89K	$722K	10x	as long as short
GMX EIGEN/USD [ETH-USDC]	L +0.0195% / S −0.0568%	1h	0.2393	−0.271%	$2K	—	100x	as long as short
Kraken Futures PF_EIGENUSD	+0.0324%	1h	0.2395	−0.195%	$160K	$112K	20x	as long as short
Coinbase International EIGEN-PERP-INTXlong	+0.0360%	1h	0.2399	long leg	$40K	$269K	50x
Reya EIGENRUSDPERP	+0.0520%	1h	0.2393	−0.266%	$835	—	15x	as long as short