Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.013%

Price spread now: Arcus against ApeX Omni+0.089%53s7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$190.193% of the position

Long on ApeX Omni Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.121%+$12 on $10k

Price spread, last 7 days−0.087%−$9 · spread now +0.089%, 7d avg +0.021%

Together, before fees+0.034%+$3 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: Arcus is 0.068% dearer against ApeX Omni than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.021%. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ETHUSDT	2,732.2	0.0100	pay 0.0013% / 1h	14m 00s	$8.7M	$31.4M	100x
Short	Arcus ETH-USD	2,734.6	0.0100	get 0.0013% / 1h	14m 00s	$1.5M	$16.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against ApeX Omni. 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 ApeX OmnibpFee ArcusbpOrdersPrice spread, now +0.089%Rate

Funding earned: $0
Price spread: +0.089% → +0.021%: $6.76
Slippage, 4 orders: −$4.83
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$12.56
Costs to cover: 0.193%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 5 min ago; Arcus: live order book, 5 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 ApeX Omni live order book, 5 min ago	1.85 bp	6.9 bp −$7	6.9 bp −$69	22.9 bp −$2,291	42.3 bp −$21.2K
Sell Arcus live order book, 5 min ago	0.09 bp	3.0 bp −$3	3.0 bp −$30	4.7 bp −$467	doesn't fit

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	2,734.1	+0.070%	$281K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,733.1	+0.034%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,734.3	+0.079%	$12.0M	—	200x	as long as short
Phoenix ETH	−0.0009%	1h	2,732.6	+0.016%	$819K	$3.0M	25x	as long as short
HTX ETH-USDT	+0.0002%	8h	2,734.5	+0.086%	$1.05B	$1.22B	200x	as long as short
dYdX ETH-USD	+0.0006%	1h	2,732.3	+0.005%	$10.4M	$42.6M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,734.6	+0.089%	$33.0M	—	200x	as long as short
Injective ETH/USDC PERP	+0.0009%	1h	2,730.8	−0.050%	$117K	$22.5M	52x	as long as short
BingX ETH-USDT	+0.0034%	8h	2,734.4	+0.083%	—	$1.12B	—	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,734.4	+0.082%	$193K	$850K	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0044%	8h	2,734.7	+0.091%	$2.36B	$4.41B	150x	as long as short
Aftermath Perps ETHUSD	+0.0077%	1h	2,729.7	−0.089%	$30K	$20K	20x	as long as short
KuCoin ETHUSDTM	+0.0080%	8h	2,734.7	+0.091%	$375.6M	$578.0M	100x	as long as short
SunX ETH-USDT	+0.0083%	8h	2,733.3	+0.041%	$959K	$11.1M	100x	as long as short
Bullet ETH-USD	+0.0083%	1h	2,734.1	+0.071%	$182K	$1.7M	20x	as long as short
Aster ETHUSDT	+0.0092%	8h	2,734.3	+0.078%	$252.5M	$846.2M	200x	as long as short
Phemex ETHUSDT	+0.0092%	8h	2,734.8	+0.098%	$263.7M	$65.0M	150x	as long as short
Lighter ETH	+0.0096%	1h	2,735.3	+0.113%	$112.9M	$436.5M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,736.3	+0.153%	$23.6M	$104.0M	50x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,732.3	+0.005%	$4.9M	$155K	20x	as long as short
Binance ETHUSDT	+0.0098%	8h	2,734.6	+0.090%	$6.35B	$16.12B	150x	as long as short
MEXC ETH_USDT	+0.0098%	8h	2,735	+0.105%	$1.53B	$2.60B	500x	as long as short
OKX ETH-USDT-SWAP	+0.0098%	8h	2,734.7	+0.092%	$1.66B	$10.90B	100x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,733.5	+0.049%	$505K	$3.5M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,737.8	+0.208%	$15.2M	$8.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,733.8	+0.061%	$14.1M	$105.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,736.8	+0.170%	$3.10B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,734.1	+0.069%	$32.0M	$333.8M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,732.7	+0.020%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USDshort	+0.0100%	1h	2,734.6	+0.089%	$1.5M	$16.2M	25x
Bulk ETH-USD	+0.0100%	1h	2,722.5	−0.353%	$160.0M	$319.3M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,734.4	+0.083%	$3.28B	$9.05B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,734.9	+0.100%	$2.09B	$2.78B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,734.1	+0.071%	$15.0M	$42.2M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,731.7	−0.018%	$134.3M	$327.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,731.2	−0.037%	$185.1M	$680.5M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,731.6	−0.021%	$158.9M	$87.4M	50x	as long as short
ApeX Omni ETHUSDTlong	+0.0100%	1h	2,732.2	long leg	$8.7M	$31.4M	100x
StandX ETH-USD	+0.0100%	1h	2,732.5	+0.012%	$21.0M	$70.0M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,735	+0.103%	—	$875K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,735.4	+0.119%	$11.2M	$9.5M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,734.6	+0.090%	$22K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,736.2	+0.147%	$41.0M	$30.1M	15x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,734.6	+0.089%	$54.5M	$187.7M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,734.1	+0.072%	$30.4M	$74.2M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,734.7	+0.091%	—	$31.3M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,736.2	+0.149%	$49.8M	$4.32B	50x	as long as short
RISEx ETH/USDC	+0.0108%	1h	2,734.6	+0.089%	$5.6M	$11.8M	25x	as long as short
Kalshi KXETHPERP	+0.0146%	8h	2,734	+0.067%	$7.0M	$692.8M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0156%	1h	2,735.9	+0.137%	$259.3M	$207.7M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0176%	1h	2,735.5	+0.121%	$83.3M	$311.7M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0188%	8h	2,736.9	+0.174%	$32.2M	$11.5M	100x	as long as short
Reya ETHRUSDPERP	+0.0198%	1h	2,733.3	+0.043%	$7.3M	$1.3M	25x	as long as short
Hibachi ETH/USDT-P	+0.0280%	1h	2,733.5	+0.048%	$250K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0392%	8h	2,732.4	+0.010%	$281.6M	$174.9M	150x	as long as short