Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0036%/8h= −3.9% APRpaid last 24h −0.002%

Price spread now: KuCoin against Arcus−0.041%7-day average −0.024% · 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−$22as in the Price arb table

costs, in and out, $10k−$200.201% of the position

Long on Arcus Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.053%−$5 on $10k

Price spread, last 7 days+0.040%+$4 · spread now −0.041%, 7d avg −0.024%

Together, before fees−0.013%−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.024%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus ETH-USD	2,734.1	0.0100	pay 0.0013% / 1h	20m 25s	$1.6M	$16.2M	25x
Short	KuCoin ETHUSDTM	2,733	0.0064	get 0.0064% / 8h	4h 20m	$380.3M	$574.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$7.56
Price spread: −0.041% → −0.024%: −$1.63
Slippage, 4 orders: −$3.64
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$29.34
Costs to cover: 0.201%
Break-even: never at this rate

Slippage from Arcus: live order book, 4 min ago; KuCoin: live order book, 4 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, 4 min ago	0.02 bp	2.3 bp −$2	2.3 bp −$23	4.9 bp −$487	doesn't fit
Sell KuCoin live order book, 4 min ago	0.02 bp	6.7 bp −$7	9.0 bp −$90	10.8 bp −$1,082	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	2,733.5	−0.025%	$297K	$5.6M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,734.2	+0.002%	$117K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,732.8	−0.049%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,733	−0.041%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,733	−0.042%	$10.8M	$41.6M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,733	−0.042%	$187K	$823K	50x	as long as short
Phoenix ETH	0.0000%	1h	2,735	+0.031%	$830K	$2.9M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,733.1	−0.040%	$28.1M	—	200x	as long as short
Bullet ETH-USD	+0.0009%	1h	2,732.5	−0.060%	$179K	$1.7M	20x	as long as short
ApeX Omni ETHUSDT	+0.0043%	1h	2,735	+0.030%	$8.7M	$31.3M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX ETH-USDT	+0.0046%	8h	2,731.4	−0.101%	$1.06B	$1.20B	200x	as long as short
BingX ETH-USDC	+0.0055%	8h	2,731.9	−0.081%	—	$18.4M	—	as long as short
Bybit ETHUSDT	+0.0061%	8h	2,732.4	−0.063%	$2.38B	$4.35B	150x	as long as short
KuCoin ETHUSDTMshort	+0.0064%	8h	2,733	−0.041%	$380.3M	$574.5M	100x
OKX ETH-USDT-SWAP	+0.0071%	8h	2,732.5	−0.059%	$1.67B	$10.71B	100x	as long as short
Phemex ETHUSDT	+0.0074%	8h	2,731.9	−0.083%	$265.6M	$65.3M	150x	as long as short
Aster ETHUSDT	+0.0086%	8h	2,733.3	−0.032%	$251.0M	$842.5M	200x	as long as short
SoDEX ETH-USD	+0.0088%	1h	2,732.5	−0.060%	$54.4M	$187.6M	40x	as long as short
Binance ETHUSDT	+0.0095%	8h	2,732.8	−0.048%	$6.35B	$15.87B	150x	as long as short
MEXC ETH_USDT	+0.0095%	8h	2,732.7	−0.052%	$1.55B	$2.56B	500x	as long as short
Lighter ETH	+0.0096%	1h	2,733.6	−0.021%	$112.9M	$440.1M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,734.8	+0.025%	$23.4M	$106.5M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,732.7	−0.053%	—	$30.9M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,730.1	−0.147%	$4.9M	$155K	20x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,737.6	+0.125%	$15.5M	$8.0M	50x	as long as short
RISEx ETH/USDC	+0.0099%	1h	2,734.1	0.000%	$5.5M	$11.6M	25x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,732.6	−0.056%	$500K	$3.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,733.5	−0.023%	$13.7M	$104.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,734.6	+0.018%	$3.10B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,734.4	+0.010%	$31.9M	$334.7M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,732.6	−0.056%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USDlong	+0.0100%	1h	2,734.1	long leg	$1.6M	$16.2M	25x
Gate ETH_USDT	+0.0100%	8h	2,732.7	−0.054%	$3.34B	$8.91B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,732.6	−0.056%	$2.07B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,731.8	−0.085%	$15.0M	$39.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,731.5	−0.098%	$133.7M	$325.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,734.1	−0.001%	$183.9M	$671.3M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,734.9	+0.027%	$159.1M	$86.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,734.3	+0.006%	$21.1M	$68.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,733.5	−0.025%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,734.2	+0.002%	$11.2M	$9.2M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,733.2	−0.035%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,733.7	−0.015%	$41.3M	$29.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,731.4	−0.101%	$958K	$11.3M	100x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,734.8	+0.025%	$164.8M	$300.4M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,732.8	−0.048%	$30.3M	$72.6M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,733.5	−0.023%	$51.3M	$4.27B	50x	as long as short
Aftermath Perps ETHUSD	+0.0114%	1h	2,734.4	+0.009%	$30K	$20K	20x	as long as short
Deribit ETH-PERPETUAL	+0.0127%	1h	2,733.9	−0.008%	$260.1M	$195.7M	50x	as long as short
Kalshi KXETHPERP	+0.0139%	8h	2,732.5	−0.060%	$6.8M	$678.5M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0194%	8h	2,734.9	+0.027%	$32.2M	$11.6M	100x	as long as short
Reya ETHRUSDPERP	+0.0219%	1h	2,731.7	−0.089%	$7.3M	$1.2M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0222%	1h	2,733.1	−0.039%	$83.3M	$314.7M	100x	as long as short
Hibachi ETH/USDT-P	+0.0264%	1h	2,735.3	+0.042%	$253K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0381%	8h	2,732.1	−0.074%	$282.3M	$175.5M	150x	as long as short