Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0073%/8h= −8.0% APRpaid last 24h −0.028%

Price spread now: BingX against Aftermath Perps+0.081%7-day average — · you sell dearer than you buy

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

Long on Aftermath Perps Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. BingX is 0.081% dearer against Aftermath Perps than usual: you sell high and buy low (spread +0.081% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps ETHUSD	2,736.7	0.0116	pay 0.0014% / 1h	59m 33s	$30K	$20K	20x
Short	BingX ETH-USDT	2,738.9	0.0043	get 0.0043% / 8h	3h 59m	—	$1.15B	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Aftermath Perps. 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 Aftermath PerpsbpFee BingXbpOrdersPrice spread, now +0.081%Rate

Funding earned: −$15.27
Price spread: +0.081% → 0.000%: $8.07
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$26.2
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Aftermath Perps: no order-book sample; BingX: live order book, 5 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell BingX live order book, 5 min ago	0.04 bp	5.0 bp −$5	5.0 bp −$50	5.0 bp −$504	5.6 bp −$2,788

Aftermath 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 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	2,738.1	+0.050%	$297K	$5.6M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,734.2	−0.092%	$117K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,739.7	+0.109%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,739.4	+0.099%	$11.9M	—	200x	as long as short
Phoenix ETH	0.0000%	1h	2,737.3	+0.021%	$827K	$2.9M	25x	as long as short
dYdX ETH-USD	+0.0001%	1h	2,739.5	+0.102%	$10.7M	$41.9M	50x	as long as short
Bullet ETH-USD	+0.0006%	1h	2,738	+0.045%	$180K	$1.7M	20x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,738.2	+0.054%	$28.1M	—	200x	as long as short
HTX ETH-USDT	+0.0024%	8h	2,739	+0.081%	$1.06B	$1.20B	200x	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,739.2	+0.090%	$187K	$821K	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDTshort	+0.0043%	8h	2,738.9	+0.081%	—	$1.15B	—
Bybit ETHUSDT	+0.0053%	8h	2,738.1	+0.051%	$2.38B	$4.36B	150x	as long as short
ApeX Omni ETHUSDT	+0.0064%	1h	2,736.1	−0.023%	$8.7M	$31.3M	100x	as long as short
KuCoin ETHUSDTM	+0.0068%	8h	2,738.4	+0.062%	$380.2M	$573.7M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0075%	8h	2,738.2	+0.054%	$1.67B	$10.74B	100x	as long as short
Phemex ETHUSDT	+0.0077%	8h	2,739.2	+0.089%	$266.0M	$65.1M	150x	as long as short
Aster ETHUSDT	+0.0091%	8h	2,739.5	+0.103%	$251.3M	$842.1M	200x	as long as short
Lighter ETH	+0.0096%	1h	2,739.2	+0.088%	$113.2M	$429.8M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,740.3	+0.129%	$23.5M	$106.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,738.1	+0.051%	—	$31.0M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,736.8	+0.004%	$4.9M	$155K	20x	as long as short
MEXC ETH_USDT	+0.0098%	8h	2,738.2	+0.053%	$1.56B	$2.53B	500x	as long as short
Binance ETHUSDT	+0.0098%	8h	2,738.6	+0.068%	$6.37B	$15.89B	150x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,743.9	+0.263%	$15.6M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,738.6	+0.068%	$499K	$3.3M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,739.2	+0.092%	$13.6M	$104.4M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,740.5	+0.138%	$3.11B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,740.3	+0.129%	$31.9M	$334.0M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,738.2	+0.054%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,739.5	+0.099%	$1.5M	$16.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,733.7	−0.112%	$169.4M	$313.3M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,739.4	+0.098%	$3.34B	$8.81B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,738.2	+0.055%	$2.07B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,738.3	+0.059%	$15.0M	$40.5M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,737.3	+0.021%	$134.0M	$324.5M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,737	+0.011%	$184.1M	$671.7M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,736.6	−0.005%	$159.2M	$86.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,738.9	+0.079%	$21.1M	$68.3M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,739.5	+0.100%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,740	+0.119%	$11.2M	$9.3M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,739	+0.083%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,741.2	+0.162%	$41.4M	$29.8M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,737.9	+0.044%	$961K	$11.3M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,739.2	+0.090%	$54.6M	$187.6M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,738.4	+0.060%	$30.4M	$72.9M	50x	as long as short
RISEx ETH/USDC	+0.0107%	1h	2,739.5	+0.100%	$5.7M	$11.7M	25x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,740.4	+0.134%	$51.4M	$4.28B	50x	as long as short
Aftermath Perps ETHUSDlong	+0.0116%	1h	2,736.7	long leg	$30K	$20K	20x
Kalshi KXETHPERP	+0.0129%	8h	2,738.9	+0.079%	$6.8M	$679.4M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0188%	1h	2,740.7	+0.143%	$260.1M	$197.1M	50x	as long as short
Orderly PERP_ETH_USDC	+0.0199%	8h	2,741.7	+0.180%	$32.3M	$11.7M	100x	as long as short
Reya ETHRUSDPERP	+0.0216%	1h	2,737.4	+0.023%	$7.3M	$1.2M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0221%	1h	2,739.8	+0.111%	$83.3M	$314.9M	100x	as long as short
Hibachi ETH/USDT-P	+0.0280%	1h	2,739.2	+0.090%	$249K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0387%	8h	2,737.2	+0.018%	$283.5M	$175.9M	150x	as long as short