Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0008%/8h= −0.8% APRpaid last 24h −0.010%

Price spread now: HTX against Arcus−0.054%7-day average −0.051% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$180.176% of the position

Long on Arcus Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.029%−$3 on $10k

Price spread, last 3 days (all we have)−0.031%−$3 · spread now −0.054%, 7d avg −0.051%

Together, before fees−0.061%−$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus ETH-USD	2,775.7	0.0100	pay 0.0013% / 1h	13m 59s	$2.7M	$17.5M	25x
Short	HTX ETH-USDT	2,774.2	0.0092	get 0.0092% / 8h	1h 13m	$1.08B	$1.32B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.054%Rate

Funding earned: −$1.58
Price spread: −0.054% → −0.051%: −$0.34
Slippage, 4 orders: −$1.09
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$19.51
Costs to cover: 0.176%
Break-even: never at this rate

Slippage from Arcus: live order book, 5 min ago; HTX: 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 Arcus live order book, 5 min ago	0.05 bp	2.8 bp −$3	3.5 bp −$35	7.0 bp −$699	doesn't fit
Sell HTX live order book, 5 min ago	0.02 bp	6.0 bp −$6	6.0 bp −$60	7.9 bp −$794	11.2 bp −$5,593

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	2,775.2	−0.018%	$288K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,774	−0.063%	$5.7M	$11.9M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,775	−0.027%	$5K	$2K	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,779.6	+0.139%	$119K	$22.5M	52x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,774.6	−0.041%	$169K	$1.2M	50x	as long as short
Aftermath Perps ETHUSD	−0.0005%	1h	2,776.7	+0.034%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,775.6	−0.004%	$12.7M	$45.6M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,775.9	+0.006%	$885K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,775	−0.027%	$22.4M	—	200x	as long as short
BingX ETH-USDT	+0.0015%	8h	2,774.6	−0.042%	—	$1.19B	—	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	+0.0019%	8h	2,773.4	−0.084%	$1.70B	$11.85B	100x	as long as short
Phemex ETHUSDT	+0.0023%	8h	2,774.2	−0.056%	$269.9M	$68.6M	150x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0027% / S +0.0009%	1h	2,774.7	−0.038%	$12.9M	—	200x	as long as short
Bullet ETH-USD	+0.0031%	1h	2,773.9	−0.066%	$182K	$1.7M	20x	as long as short
Deribit ETH-PERPETUAL	+0.0035%	1h	2,775.6	−0.006%	$258.4M	$222.4M	50x	as long as short
Aster ETHUSDT	+0.0037%	8h	2,773.9	−0.066%	$256.4M	$992.5M	200x	as long as short
Nado ETH-PERP	+0.0060%	1h	2,774	−0.062%	$14.2M	$118.2M	50x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,772.8	−0.105%	$5.0M	$636K	20x	as long as short
MEXC ETH_USDT	+0.0065%	8h	2,773.8	−0.071%	$1.61B	$2.67B	500x	as long as short
Binance ETHUSDT	+0.0065%	8h	2,773.5	−0.079%	$6.43B	$17.21B	150x	as long as short
ApeX Omni ETHUSDT	+0.0066%	1h	2,775.6	−0.006%	$8.8M	$32.6M	100x	as long as short
Bitget ETHUSDT	+0.0069%	8h	2,773.9	−0.066%	$2.10B	$3.10B	150x	as long as short
SoDEX ETH-USD	+0.0071%	1h	2,773.7	−0.073%	$55.2M	$228.9M	40x	as long as short
Gate ETH_USDT	+0.0073%	8h	2,774.5	−0.044%	$3.29B	$9.66B	200x	as long as short
HTX ETH-USDTshort	+0.0092%	8h	2,774.2	−0.054%	$1.08B	$1.32B	200x
Bybit ETHUSDT	+0.0093%	8h	2,773.6	−0.077%	$2.52B	$4.62B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,774.3	−0.053%	$115.1M	$502.3M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,775.8	0.000%	$25.4M	$121.7M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,775.1	−0.023%	—	$41.6M	500x	as long as short
KuCoin ETHUSDTM	+0.0097%	8h	2,774.1	−0.059%	$422.4M	$739.0M	100x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,773.8	−0.070%	$15.9M	$10.5M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,774.8	−0.034%	$477K	$2.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,776.7	+0.035%	$3.19B	$2.36B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,775.3	−0.014%	$31.3M	$302.0M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,773.8	−0.070%	$2.8M	$17.0M	25x	as long as short
Arcus ETH-USDlong	+0.0100%	1h	2,775.7	long leg	$2.7M	$17.5M	25x
Bulk ETH-USD	+0.0100%	1h	2,778.9	+0.114%	$165.9M	$253.8M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,774.6	−0.042%	$15.2M	$44.1M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,774.7	−0.036%	$141.6M	$331.6M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,775.7	−0.001%	$181.7M	$784.8M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,775.8	+0.001%	$161.4M	$91.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,776	+0.009%	$21.4M	$58.2M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,775	−0.026%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,775.4	−0.012%	$10.8M	$7.6M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,775.4	−0.012%	$21K	$24K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,776.3	+0.020%	$42.7M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,774.2	−0.055%	$973K	$14.0M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,773.2	−0.091%	$32.6M	$77.7M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,775.1	−0.022%	$59.8M	$4.60B	50x	as long as short
Kalshi KXETHPERP	+0.0126%	8h	2,775.6	−0.005%	$8.4M	$680.3M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0137%	8h	2,776.7	+0.034%	$32.6M	$12.0M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0170%	1h	2,774.9	−0.029%	$86.1M	$332.4M	100x	as long as short
BloFin ETH-USDT	+0.0186%	8h	2,774.3	−0.053%	$284.1M	$194.4M	150x	as long as short
Reya ETHRUSDPERP	+0.0193%	1h	2,774	−0.062%	$7.4M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0240%	1h	2,776.3	+0.018%	$270K	$1.5M	20x	as long as short