Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0061%/8h= +6.7% APRpaid last 24h −0.001%

Price spread now: RISEx against Binance−0.092%85s7-day average +0.007% · 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—prices read too far apart to compare

costs, in and out, $10k−$180.182% of the position

Long on Binance Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.026%+$3 on $10k

Price spread, last 7 days+0.103%+$10 · spread now −0.092%, 7d avg +0.007%

Together, before fees+0.129%+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.100% cheaper against Binance than usual: you would sell low and buy high (spread −0.092% now, against its 7-day average of +0.007%). If the spread goes back, that is −$10 on $10k: about 5.4 days of funding at the current rate (+$2 a day). At the pace of the last 4 days (+0.026% in total) that is about 14 days. The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ETHUSDT	2,724.4	0.0076	pay 0.0076% / 8h	7h 27m	$6.30B	$15.98B	150x
Short	RISEx ETH/USDC	2,721.9	0.0137	get 0.0017% / 1h	27m 04s	$5.6M	$11.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Binance. 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 BinancebpFee RISExbpOrdersPrice spread, now −0.092%Rate

Funding earned: $12.89
Price spread: −0.092% → +0.007%: −$9.95
Slippage, 4 orders: −$2.2
Fee Binance: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$15.26
Costs to cover: 0.182%
Break-even: 15.3 days

Slippage from Binance: live order book, 2 min ago; RISEx: 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 Binance live order book, 2 min ago	0.02 bp	5.0 bp −$5	5.0 bp −$50	5.1 bp −$505	7.1 bp −$3,561
Sell RISEx live order book, 2 min ago	0.02 bp	5.1 bp −$5	6.1 bp −$61	doesn't fit	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
BloFin ETH-USDT	−0.0152%	8h	2,724.5	+0.003%	$281.3M	$176.4M	150x	as long as short
HTX ETH-USDT	−0.0140%	8h	2,724.3	−0.002%	$1.05B	$1.20B	200x	as long as short
Perpl ETH	−0.0112%	43m	2,724.7	+0.011%	$275K	$5.7M	8.3x	as long as short
SunX ETH-USDT	−0.0109%	8h	2,724	−0.013%	$939K	$10.6M	100x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,724	−0.014%	$5K	$1K	50x	as long as short
Bybit ETHUSDT	−0.0067%	8h	2,724.1	−0.009%	$2.31B	$4.26B	150x	as long as short
ApeX Omni ETHUSDT	−0.0013%	1h	2,724.3	−0.002%	$8.3M	$31.3M	100x	as long as short
Phoenix ETH	−0.0012%	1h	2,724.4	+0.001%	$806K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,724.8	+0.017%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,724.2	−0.007%	$10.5M	$41.9M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXETHPERP	0.0000%	8h	2,724.6	+0.008%	$6.6M	$669.1M	4.9x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,721.7	−0.100%	$32.8M	—	200x	as long as short
Deribit ETH-PERPETUAL	+0.0018%	1h	2,725.5	+0.042%	$265.9M	$222.0M	50x	as long as short
01 Exchange ETHUSD	+0.0032%	1h	2,724.5	+0.004%	$195K	$885K	50x	as long as short
Hibachi ETH/USDT-P	+0.0032%	1h	2,722	−0.087%	$236K	$1.4M	20x	as long as short
Gate ETH_USDT	+0.0034%	8h	2,724.6	+0.008%	$3.27B	$8.29B	200x	as long as short
SoDEX ETH-USD	+0.0042%	1h	2,724.5	+0.004%	$54.3M	$182.4M	40x	as long as short
Aster ETHUSDT	+0.0065%	8h	2,724.4	0.000%	$252.1M	$841.1M	200x	as long as short
OKX ETH-USDT-SWAP	+0.0076%	8h	2,724.4	+0.001%	$1.65B	$10.52B	100x	as long as short
Binance ETHUSDTlong	+0.0076%	8h	2,724.4	long leg	$6.30B	$15.98B	150x
MEXC ETH_USDT	+0.0077%	8h	2,724.2	−0.008%	$1.58B	$2.57B	500x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,724.9	+0.020%	$4.9M	$195K	20x	as long as short
KuCoin ETHUSDTM	+0.0083%	8h	2,724.3	−0.003%	$382.1M	$563.1M	100x	as long as short
Bullet ETH-USD	+0.0084%	1h	2,724.7	+0.012%	$176K	$1.7M	20x	as long as short
Phemex ETHUSDT	+0.0085%	8h	2,724.9	+0.017%	$262.5M	$63.1M	150x	as long as short
Lighter ETH	+0.0096%	1h	2,725	+0.023%	$112.4M	$402.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,726.3	+0.070%	$23.6M	$96.4M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,724.6	+0.008%	—	$30.4M	500x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,724	−0.014%	$497K	$3.6M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,727.4	+0.110%	$15.3M	$7.1M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,723.8	−0.020%	$14.3M	$100.9M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,726.4	+0.074%	$3.10B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,724.9	+0.020%	$31.9M	$331.2M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,723.7	−0.025%	$2.7M	$16.3M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,724.7	+0.012%	$1.6M	$15.8M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,720.7	−0.137%	$164.6M	$337.2M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,724.6	+0.008%	$2.11B	$2.70B	150x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,724.4	−0.001%	—	$1.04B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,724.4	0.000%	$15.1M	$39.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,724.1	−0.011%	$131.7M	$315.5M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,724.3	−0.002%	$185.3M	$683.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,724.3	−0.005%	$158.4M	$80.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,721.7	−0.098%	$20.9M	$71.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,725.6	+0.043%	—	$436K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,723	−0.051%	$11.2M	$9.3M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,724.3	−0.002%	$40.5M	$29.1M	15x	as long as short
Extended ETH-USD	+0.0104%	1h	2,723.4	−0.036%	$30.2M	$70.7M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0105%	1h	2,725.1	+0.027%	$81.8M	$308.0M	100x	as long as short
Aftermath Perps ETHUSD	+0.0109%	1h	2,726.3	+0.071%	$30K	$20K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,725.7	+0.048%	$45.7M	$4.20B	50x	as long as short
RISEx ETH/USDCshort	+0.0137%	1h	2,721.9	−0.092%	$5.6M	$11.4M	25x
Reya ETHRUSDPERP	+0.0171%	1h	2,723.1	−0.047%	$7.3M	$961K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0182%	8h	2,726.4	+0.075%	$32.1M	$10.9M	100x	as long as short
Injective ETH/USDC PERP	+0.0253%	1h	2,727.8	+0.125%	$117K	$21.6M	52x	as long as short
Bluefin ETH-PERP	+0.1380%	1h	2,724.6	+0.009%	$20K	$23K	25x	as long as short