Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0073%/8h= +8.0% APRpaid last 24h −0.017%

Price spread now: Gate against ApeX Omni+0.015%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$260.258% of the position

Long on ApeX Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.040%+$4 on $10k

Price spread, last 7 days−0.002%$0 · spread now +0.015%, 7d avg −0.008%

Together, before fees+0.038%+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Gate is 0.023% dearer against ApeX Omni than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ETHUSDT	2,775.8	−0.0007	get 0.0001% / 1h	1m 00s	$8.7M	$32.9M	100x
Short	Gate ETH_USDT	2,776.2	0.0066	get 0.0066% / 8h	1m 00s	$3.29B	$9.71B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.015%Rate

Funding earned: $15.3
Price spread: +0.015% → −0.008%: $2.26
Slippage, 4 orders: −$0.79
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$8.22
Costs to cover: 0.258%
Break-even: 10.8 days

Slippage from ApeX Omni: live order book, 3 min ago; Gate: live order book, 3 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, 3 min ago	0.34 bp	5.4 bp −$5	6.9 bp −$69	24.9 bp −$2,487	39.8 bp −$19.9K
Sell Gate live order book, 3 min ago	0.02 bp	7.5 bp −$8	7.5 bp −$75	10.6 bp −$1,056	19.1 bp −$9,535

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	−0.0223%	43m	2,774.9	−0.032%	$286K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0206%	1h	2,774.2	−0.056%	$5.6M	$11.9M	25x	as long as short
Injective ETH/USDC PERP	−0.0088%	1h	2,762.1	−0.492%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,775.5	−0.009%	$5K	$2K	50x	as long as short
01 Exchange ETHUSD	−0.0008%	1h	2,774.7	−0.038%	$168K	$1.2M	50x	as long as short
ApeX Omni ETHUSDTlong	−0.0007%	1h	2,775.8	long leg	$8.7M	$32.9M	100x
dYdX ETH-USD	0.0000%	1h	2,775.8	+0.002%	$12.7M	$45.9M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,775.9	+0.005%	$8.2M	$689.1M	4.9x	as long as short
Phoenix ETH	+0.0003%	1h	2,776	+0.009%	$877K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,776.7	+0.034%	$22.4M	—	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0021%	8h	2,775.7	−0.004%	$1.71B	$11.91B	100x	as long as short
Phemex ETHUSDT	+0.0023%	8h	2,776.1	+0.014%	$270.5M	$68.7M	150x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0026% / S +0.0009%	1h	2,776.4	+0.022%	$12.8M	—	200x	as long as short
SoDEX ETH-USD	+0.0028%	1h	2,776.4	+0.023%	$55.3M	$228.8M	40x	as long as short
Bullet ETH-USD	+0.0033%	1h	2,775.1	−0.023%	$182K	$1.7M	20x	as long as short
Aftermath Perps ETHUSD	+0.0033%	1h	2,773.6	−0.077%	$29K	$22K	20x	as long as short
Aster ETHUSDT	+0.0035%	8h	2,776	+0.007%	$256.2M	$1.00B	200x	as long as short
MEXC ETH_USDT	+0.0055%	8h	2,775.6	−0.008%	$1.62B	$2.67B	500x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,773.6	−0.077%	$5.0M	$636K	20x	as long as short
Binance ETHUSDT	+0.0056%	8h	2,775.7	−0.004%	$6.47B	$17.29B	150x	as long as short
Bitget ETHUSDT	+0.0065%	8h	2,775.6	−0.005%	$2.11B	$3.10B	150x	as long as short
Gate ETH_USDTshort	+0.0066%	8h	2,776.2	+0.015%	$3.29B	$9.71B	200x
Deribit ETH-PERPETUAL	+0.0074%	1h	2,778.1	+0.084%	$259.1M	$222.1M	50x	as long as short
KuCoin ETHUSDTM	+0.0080%	8h	2,775.9	+0.004%	$423.1M	$738.8M	100x	as long as short
Bybit ETHUSDT	+0.0087%	8h	2,775.6	−0.007%	$2.51B	$4.62B	150x	as long as short
BingX ETH-USDT	+0.0088%	8h	2,775.8	0.000%	—	$1.24B	—	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,778.3	+0.090%	$60.7M	$4.60B	50x	as long as short
Nado ETH-PERP	+0.0092%	1h	2,774.1	−0.060%	$14.4M	$118.2M	50x	as long as short
HTX ETH-USDT	+0.0094%	8h	2,775.9	+0.006%	$1.08B	$1.32B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,776.7	+0.035%	$115.3M	$502.1M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,778.4	+0.097%	$25.3M	$122.2M	50x	as long as short
Vest ETH-PERP	+0.0097%	1h	2,775.2	−0.018%	—	$1.1M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,774.4	−0.051%	$15.9M	$10.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,774.2	−0.056%	$483K	$2.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,778.7	+0.106%	$3.18B	$2.36B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,774.8	−0.035%	$31.3M	$316.9M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,773.9	−0.067%	$2.8M	$17.3M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,775	−0.027%	$2.7M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,769.4	−0.229%	$169.4M	$262.8M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,776.6	+0.029%	$15.1M	$44.2M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,773.8	−0.070%	$151.5M	$345.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,775	−0.028%	$182.2M	$785.2M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,770.2	−0.199%	$161.1M	$89.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,774.6	−0.042%	$21.5M	$58.7M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,775.4	−0.013%	$10.6M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,776.8	+0.039%	$21K	$24K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,779	+0.116%	$42.8M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,773.7	−0.073%	$973K	$13.9M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,775.2	−0.020%	$32.5M	$78.4M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,775.1	−0.022%	—	$43.8M	500x	as long as short
Kraken Futures PF_ETHUSD	+0.0123%	1h	2,777.9	+0.078%	$90.9M	$338.7M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0145%	8h	2,779	+0.118%	$32.7M	$12.2M	100x	as long as short
BloFin ETH-USDT	+0.0176%	8h	2,776.5	+0.026%	$287.4M	$193.9M	150x	as long as short
Hibachi ETH/USDT-P	+0.0192%	1h	2,775.9	+0.006%	$253K	$1.6M	20x	as long as short
Reya ETHRUSDPERP	+0.0206%	1h	2,774.8	−0.034%	$7.4M	$1.2M	25x	as long as short