Funding arb · Price arb /

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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 +0.019%

Price spread now: Bluefin against Arcus0.000%7-day average — · you sell dearer than you buy

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

Long on Arcus Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 4 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

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus ETH-USD	2,725.2	0.0100	pay 0.0013% / 1h	34m 53s	$1.5M	$16.1M	25x
Short	Bluefin ETH-PERP	2,725.2	0.0100	get 0.0013% / 1h	34m 53s	$22K	$21K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against Arcus. 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 ArcusbpFee BluefinbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$11.5
Costs to cover: 0.115%
Break-even: never at this rate

Slippage unknown: Arcus: live order book, 4 min ago; Bluefin: no order-book sample. 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 Arcus live order book, 4 min ago	0.46 bp	3.4 bp −$3	4.1 bp −$41	6.6 bp −$664	doesn't fit
Sell Bluefin no order-book sample	—	—	—	—	—

Bluefin: 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	2,724.6	−0.022%	$283K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,725.2	+0.001%	$5K	$1K	50x	as long as short
HTX ETH-USDT	−0.0010%	8h	2,724	−0.044%	$1.05B	$1.21B	200x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,725.2	0.000%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0009%	1h	2,721.6	−0.131%	$814K	$3.0M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,725.5	+0.010%	$28.0M	—	200x	as long as short
Injective ETH/USDC PERP	+0.0009%	1h	2,721.2	−0.146%	$117K	$22.5M	52x	as long as short
dYdX ETH-USD	+0.0012%	1h	2,725.1	−0.003%	$10.8M	$41.9M	50x	as long as short
01 Exchange ETHUSD	+0.0032%	1h	2,724.5	−0.025%	$186K	$786K	50x	as long as short
BingX ETH-USDT	+0.0033%	8h	2,721.1	−0.150%	—	$1.14B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0042%	8h	2,720.4	−0.174%	$2.35B	$4.42B	150x	as long as short
Aftermath Perps ETHUSD	+0.0068%	1h	2,723.7	−0.054%	$30K	$20K	20x	as long as short
SunX ETH-USDT	+0.0070%	8h	2,724.6	−0.023%	$956K	$11.2M	100x	as long as short
Bullet ETH-USD	+0.0071%	1h	2,724.9	−0.009%	$179K	$1.7M	20x	as long as short
KuCoin ETHUSDTM	+0.0075%	8h	2,721.6	−0.133%	$374.8M	$578.4M	100x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,722.8	−0.086%	$4.9M	$155K	20x	as long as short
Aster ETHUSDT	+0.0084%	8h	2,721.6	−0.129%	$251.9M	$845.2M	200x	as long as short
Phemex ETHUSDT	+0.0086%	8h	2,724.3	−0.031%	$263.4M	$64.3M	150x	as long as short
MEXC ETH_USDT	+0.0089%	8h	2,721.6	−0.131%	$1.55B	$2.57B	500x	as long as short
OKX ETH-USDT-SWAP	+0.0090%	8h	2,720.6	−0.167%	$1.66B	$10.80B	100x	as long as short
Deribit ETH-PERPETUAL	+0.0091%	1h	2,726.3	+0.042%	$258.8M	$205.2M	50x	as long as short
Binance ETHUSDT	+0.0091%	8h	2,721.3	−0.143%	$6.30B	$16.09B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,725.2	+0.002%	$111.5M	$432.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,726.2	+0.037%	$23.4M	$103.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,724.3	−0.032%	$498K	$3.4M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,727.1	+0.072%	$15.2M	$8.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,724.8	−0.015%	$13.8M	$105.0M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,725.4	+0.008%	$3.08B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,725.5	+0.011%	$31.9M	$334.4M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,723.2	−0.072%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USDlong	+0.0100%	1h	2,725.2	long leg	$1.5M	$16.1M	25x
Bulk ETH-USD	+0.0100%	1h	2,723.8	−0.049%	$163.8M	$329.7M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,721.1	−0.149%	$3.30B	$8.93B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,721.6	−0.130%	$2.07B	$2.76B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,723.2	−0.074%	$14.9M	$43.1M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,723.2	−0.071%	$133.0M	$326.9M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,721.7	−0.127%	$184.3M	$675.8M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,723.6	−0.058%	$158.5M	$87.0M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,723.1	−0.076%	$8.6M	$31.3M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,723.2	−0.072%	$20.9M	$71.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,726	+0.031%	—	$876K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,726.4	+0.045%	$11.2M	$9.6M	50x	as long as short
Bluefin ETH-PERPshort	+0.0100%	1h	2,725.2	0.000%	$22K	$21K	25x
Derive ETH-PERP	+0.0100%	1h	2,726.4	+0.046%	$40.9M	$30.1M	15x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,725.2	+0.001%	$54.3M	$187.9M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,720.9	−0.157%	$30.5M	$74.3M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,725.2	−0.001%	—	$31.3M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,726.3	+0.041%	$49.9M	$4.29B	50x	as long as short
RISEx ETH/USDC	+0.0108%	1h	2,725.3	+0.005%	$5.6M	$11.7M	25x	as long as short
Kalshi KXETHPERP	+0.0159%	8h	2,725.3	+0.005%	$6.4M	$692.2M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0176%	1h	2,725.6	+0.017%	$82.9M	$316.2M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0188%	8h	2,727.5	+0.086%	$32.1M	$11.6M	100x	as long as short
Reya ETHRUSDPERP	+0.0202%	1h	2,724.5	−0.024%	$7.3M	$1.2M	25x	as long as short
BloFin ETH-USDT	+0.0210%	8h	2,724.8	−0.015%	$282.9M	$174.7M	150x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,724.2	−0.037%	$249K	$1.4M	20x	as long as short