Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0100%/8hnext payment −$0.13 per $10,000 · paid last 24h +0.046%

Price spread now: dYdX against Arcus+0.026%7-day average −0.027% · 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−$14as in the Price arb table

costs, in and out, $10k−$200.196% of the position

Long on Arcus Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.219%+$22 on $10k

Price spread, last 7 days+0.059%+$6 · spread now +0.026%, 7d avg −0.027%

Together, before fees+0.278%+$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.053% dearer against Arcus than usual: you sell high and buy low (spread +0.026% now, against its 7-day average of −0.027%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 42 hours. Mind the row above: over the last 3 days funding on this pair paid +0.219%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus ETH-USD	2,762.4	0.0100	pay 0.0013% / 1h	6m 38s	$2.9M	$16.9M	25x
Short	dYdX ETH-USD	2,763.2	0	get 0.0000% / 1h	6m 38s	$13.5M	$42.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$21
Price spread: +0.026% → −0.027%: $5.27
Slippage, 4 orders: −$5.05
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$35.28
Costs to cover: 0.196%
Break-even: never at this rate

Slippage from Arcus: live order book, 2 min ago; dYdX: live order book, 2 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 Arcus live order book, 2 min ago	0.36 bp	2.6 bp −$3	2.9 bp −$29	doesn't fit	doesn't fit
Sell dYdX live order book, 2 min ago	0.36 bp	7.4 bp −$7	12.0 bp −$120	18.1 bp −$1,814	29.2 bp −$14.6K

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	2,762.1	−0.011%	$269K	$6.6M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0208%	1h	2,761.8	−0.023%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,761.1	−0.049%	$5K	$2K	50x	as long as short
SoDEX ETH-USD	−0.0019%	1h	2,762.1	−0.012%	$55.7M	$184.4M	40x	as long as short
Phoenix ETH	−0.0003%	1h	2,762.9	+0.017%	$928K	$3.1M	25x	as long as short
dYdX ETH-USDshort	0.0000%	1h	2,763.2	+0.026%	$13.5M	$42.2M	50x
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,763.6	+0.041%	$22.4M	—	200x	as long as short
Bulk ETH-USD	+0.0012%	1h	2,762.6	+0.005%	$165.0M	$265.6M	25x	as long as short
OKX ETH-USDT-SWAP	+0.0016%	8h	2,760.3	−0.078%	$1.73B	$11.31B	100x	as long as short
ApeX Omni ETHUSDT	+0.0018%	1h	2,761.7	−0.028%	$8.4M	$28.8M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ETH-PERPETUAL	+0.0018%	1h	2,764.2	+0.062%	$258.4M	$209.2M	50x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0020% / S +0.0013%	1h	2,763.6	+0.042%	$12.3M	—	200x	as long as short
Bullet ETH-USD	+0.0022%	1h	2,762.4	−0.002%	$194K	$1.8M	20x	as long as short
01 Exchange ETHUSD	+0.0024%	1h	2,763.8	+0.049%	$178K	$1.2M	50x	as long as short
Phemex ETHUSDT	+0.0029%	8h	2,762.6	+0.007%	$267.1M	$64.5M	150x	as long as short
MEXC ETH_USDT	+0.0038%	8h	2,760.4	−0.072%	$1.62B	$2.48B	500x	as long as short
Binance ETHUSDT	+0.0039%	8h	2,760.8	−0.059%	$6.57B	$16.31B	150x	as long as short
Aevo ETH-PERP	+0.0040%	1h	2,760.9	−0.056%	$5.0M	$651K	20x	as long as short
RISEx ETH/USDC	+0.0044%	1h	2,761.7	−0.029%	$5.8M	$12.2M	25x	as long as short
Gate ETH_USDT	+0.0051%	8h	2,760.6	−0.065%	$3.35B	$9.26B	200x	as long as short
Aster ETHUSDT	+0.0057%	8h	2,761.9	−0.021%	$268.3M	$947.3M	200x	as long as short
Bitget ETHUSDT	+0.0073%	8h	2,760.8	−0.059%	$2.09B	$3.00B	150x	as long as short
Aftermath Perps ETHUSD	+0.0075%	1h	2,763.6	+0.041%	$29K	$20K	20x	as long as short
Variational Omni ETH	+0.0092%	8h	2,760.4	−0.075%	$139.7M	$304.4M	—	as long as short
Lighter ETH	+0.0096%	1h	2,761.3	−0.042%	$115.1M	$498.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,762.9	+0.017%	$25.5M	$122.4M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,763.1	+0.022%	—	$44.1M	500x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,765.4	+0.107%	$15.8M	$10.9M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,762.7	+0.009%	$481K	$2.6M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,761.4	−0.037%	$17.3M	$112.7M	50x	as long as short
Pacifica ETH	+0.0100%	1h	2,761.5	−0.034%	$31.2M	$265.1M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,760.6	−0.066%	$2.53B	$4.42B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,760.8	−0.059%	$2.9M	$15.4M	25x	as long as short
Arcus ETH-USDlong	+0.0100%	1h	2,762.4	long leg	$2.9M	$16.9M	25x
KuCoin ETHUSDTM	+0.0100%	8h	2,761	−0.052%	$413.3M	$711.2M	100x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,760.7	−0.064%	—	$1.15B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,762.7	+0.008%	$15.3M	$41.9M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,761.2	−0.044%	$179.7M	$749.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,761.6	−0.031%	$160.6M	$95.7M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,762.1	−0.012%	$21.3M	$56.8M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,764.7	+0.082%	$11.4M	$7.1M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,763.8	+0.050%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,765.7	+0.117%	$42.9M	$29.2M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,761.2	−0.043%	$968K	$14.2M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,761.8	−0.024%	$1.08B	$1.24B	200x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,763	+0.020%	—	$1.1M	50x	as long as short
Hyperliquid ETH	+0.0101%	1h	2,763.6	+0.042%	$3.23B	$2.20B	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,760.3	−0.078%	$31.5M	$75.6M	50x	as long as short
Orderly PERP_ETH_USDC	+0.0113%	8h	2,765.4	+0.109%	$32.5M	$11.1M	100x	as long as short
Kalshi KXETHPERP	+0.0128%	8h	2,763.2	+0.028%	$8.6M	$642.9M	4.9x	as long as short
Coinbase International ETH-PERP-INTX	+0.0128%	1h	2,764.1	+0.059%	$59.6M	$4.57B	50x	as long as short
Hibachi ETH/USDT-P	+0.0152%	1h	2,763.6	+0.041%	$278K	$1.5M	20x	as long as short
BloFin ETH-USDT	+0.0154%	8h	2,762.2	−0.010%	$292.7M	$186.8M	150x	as long as short
Kraken Futures PF_ETHUSD	+0.0163%	1h	2,763.7	+0.047%	$85.4M	$322.1M	100x	as long as short
Reya ETHRUSDPERP	+0.0226%	1h	2,761.6	−0.030%	$7.5M	$936K	25x	as long as short