Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0068%/8h= +7.5% APRpaid last 24h 0.000%

Price spread now: Arcus against Aster−0.028%7-day average +0.021% · 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−$20as in the Price arb table

costs, in and out, $10k−$150.149% of the position

Long on Aster Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.013%+$1 on $10k

Price spread, last 7 days+0.063%+$6 · spread now −0.028%, 7d avg +0.021%

Together, before fees+0.075%+ Points / potential airdropAster: Stage 5 · farm board+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.049% cheaper against Aster than usual: you would sell low and buy high (spread −0.028% now, against its 7-day average of +0.021%). If the spread goes back, that is −$5 on $10k: about 2.4 days of funding at the current rate (+$2 a day). At the pace of the last 3 days (+0.013% in total) that is about 13 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ETHUSDT	2,775.5	0.0032	pay 0.0032% / 8h	4m 18s	$256.2M	$1.00B	200x
Short	Arcus ETH-USD	2,774.7	0.0100	get 0.0013% / 1h	4m 18s	$2.7M	$17.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Aster. 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 AsterbpFee ArcusbpOrdersPrice spread, now −0.028%Rate

Funding earned: $14.38
Price spread: −0.028% → +0.021%: −$4.92
Slippage, 4 orders: −$2.43
Fee Aster: 4 bp × 2 orders: −$8
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$5.47
Costs to cover: 0.149%
Break-even: 9.7 days

Slippage from Aster: live order book, 5 min ago; Arcus: 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 Aster live order book, 5 min ago	0.02 bp	4.1 bp −$4	4.1 bp −$41	5.2 bp −$516	10.9 bp −$5,444
Sell Arcus live order book, 5 min ago	0.90 bp	3.2 bp −$3	3.2 bp −$32	4.7 bp −$471	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	−0.0223%	43m	2,773.7	−0.066%	$286K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0206%	1h	2,774	−0.053%	$5.6M	$11.9M	25x	as long as short
Injective ETH/USDC PERP	−0.0088%	1h	2,762.1	−0.483%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,772.4	−0.112%	$5K	$2K	50x	as long as short
ApeX Omni ETHUSDT	−0.0021%	1h	2,769.3	−0.224%	$8.7M	$32.9M	100x	as long as short
01 Exchange ETHUSD	−0.0008%	1h	2,774.4	−0.040%	$168K	$1.2M	50x	as long as short
dYdX ETH-USD	0.0000%	1h	2,774.1	−0.050%	$12.7M	$45.9M	50x	as long as short
Phoenix ETH	+0.0003%	1h	2,771.5	−0.144%	$876K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,775.9	+0.014%	$22.4M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0021%	8h	2,775.5	0.000%	$1.71B	$11.91B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex ETHUSDT	+0.0024%	8h	2,775.1	−0.016%	$270.5M	$68.7M	150x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0026% / S +0.0009%	1h	2,775.7	+0.006%	$12.8M	—	200x	as long as short
SoDEX ETH-USD	+0.0030%	1h	2,774.9	−0.022%	$55.3M	$228.7M	40x	as long as short
Aftermath Perps ETHUSD	+0.0030%	1h	2,772	−0.127%	$29K	$22K	20x	as long as short
Aster ETHUSDTlong	+0.0032%	8h	2,775.5	long leg	$256.2M	$1.00B	200x
Bullet ETH-USD	+0.0034%	1h	2,774.9	−0.020%	$182K	$1.7M	20x	as long as short
MEXC ETH_USDT	+0.0054%	8h	2,775.4	−0.005%	$1.62B	$2.67B	500x	as long as short
Binance ETHUSDT	+0.0054%	8h	2,775.4	−0.005%	$6.47B	$17.29B	150x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,773.3	−0.079%	$5.0M	$636K	20x	as long as short
Bitget ETHUSDT	+0.0065%	8h	2,775.7	+0.009%	$2.11B	$3.10B	150x	as long as short
Gate ETH_USDT	+0.0067%	8h	2,775.4	−0.003%	$3.29B	$9.70B	200x	as long as short
KuCoin ETHUSDTM	+0.0081%	8h	2,775.6	+0.004%	$421.8M	$738.3M	100x	as long as short
Bybit ETHUSDT	+0.0088%	8h	2,775.9	+0.014%	$2.51B	$4.62B	150x	as long as short
BingX ETH-USDC	+0.0088%	8h	2,775	−0.018%	—	$17.5M	—	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,777.1	+0.059%	$60.7M	$4.60B	50x	as long as short
Nado ETH-PERP	+0.0092%	1h	2,774.5	−0.034%	$14.3M	$118.2M	50x	as long as short
HTX ETH-USDT	+0.0093%	8h	2,774.7	−0.029%	$1.08B	$1.32B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,775.5	+0.001%	$115.2M	$501.9M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,776.8	+0.046%	$25.3M	$122.1M	50x	as long as short
Vest ETH-PERP	+0.0097%	1h	2,774	−0.056%	—	$1.1M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0099%	1h	2,776.4	+0.033%	$259.1M	$222.2M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,773.3	−0.080%	$15.9M	$10.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,773.5	−0.072%	$483K	$2.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,776.9	+0.050%	$3.17B	$2.36B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,774.2	−0.047%	$31.3M	$316.9M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,771.3	−0.151%	$2.8M	$17.2M	25x	as long as short
Arcus ETH-USDshort	+0.0100%	1h	2,774.7	−0.028%	$2.7M	$17.4M	25x
Bulk ETH-USD	+0.0100%	1h	2,769.4	−0.220%	$169.4M	$262.8M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,775.9	+0.013%	$15.1M	$44.2M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,768.5	−0.251%	$148.3M	$337.3M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,769.8	−0.206%	$181.8M	$784.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,770.9	−0.165%	$161.1M	$89.5M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,770.8	−0.169%	$21.4M	$58.7M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,774.8	−0.025%	$10.6M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,776	+0.017%	$21K	$24K	25x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,774.2	−0.046%	$973K	$13.9M	100x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,777.5	+0.073%	$42.8M	$29.4M	15x	as long as short
Kalshi KXETHPERP	+0.0101%	8h	2,772.3	−0.115%	$8.4M	$688.6M	4.9x	as long as short
Extended ETH-USD	+0.0104%	1h	2,774.1	−0.050%	$32.5M	$78.4M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,773.8	−0.063%	—	$43.8M	500x	as long as short
Kraken Futures PF_ETHUSD	+0.0123%	1h	2,776.8	+0.046%	$90.8M	$338.2M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0144%	8h	2,778.1	+0.093%	$32.6M	$12.2M	100x	as long as short
BloFin ETH-USDT	+0.0175%	8h	2,770	−0.197%	$286.6M	$193.5M	150x	as long as short
Hibachi ETH/USDT-P	+0.0200%	1h	2,771.5	−0.144%	$252K	$1.6M	20x	as long as short
Reya ETHRUSDPERP	+0.0206%	1h	2,774.2	−0.046%	$7.4M	$1.2M	25x	as long as short