Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h −0.004%

Price spread now: 01 Exchange against BingX−0.039%7-day average — · 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−$29as in the Price arb table

costs, in and out, $10k−$250.249% of the position

Long on BingX Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and 01 Exchange is 0.039% cheaper against BingX than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ETH-USDT	2,742	0.0050	pay 0.0050% / 8h	5h 36m	—	$1.15B	—
Short	01 Exchange ETHUSD	2,740.9	0.0040	get 0.0005% / 1h	36m 04s	$182K	$916K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange against BingX. 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 BingXbpFee 01 ExchangebpOrdersPrice spread, now −0.039%Rate

Funding earned: −$2.1
Price spread: −0.039% → 0.000%: −$3.9
Slippage, 4 orders: −$7.91
Fee BingX: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$30.91
Costs to cover: 0.249%
Break-even: never at this rate

Slippage from BingX: live order book, 3 min ago; 01 Exchange: live order book, 28 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 BingX live order book, 3 min ago	0.04 bp	5.1 bp −$5	5.3 bp −$53	5.9 bp −$590	6.5 bp −$3,237
Sell 01 Exchange live order book, 28 min ago	0.18 bp	9.0 bp −$9	13.1 bp −$131	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
Hotstuff ETH-PERP	−0.0080%	1h	2,739.8	−0.079%	$5K	$1K	50x	as long as short
Injective ETH/USDC PERP	−0.0044%	1h	2,743.1	+0.041%	$118K	$22.5M	52x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,741.3	−0.026%	$12.1M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,740.4	−0.056%	$10.8M	$41.8M	50x	as long as short
Perpl ETH	0.0000%	43m	2,740.7	−0.045%	$304K	$5.6M	8.3x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,741.6	−0.015%	$22.1M	—	200x	as long as short
Phoenix ETH	+0.0017%	1h	2,744.7	+0.100%	$846K	$2.9M	25x	as long as short
01 Exchange ETHUSDshort	+0.0040%	1h	2,740.9	−0.039%	$182K	$916K	50x
BingX ETH-USDTlong	+0.0050%	8h	2,742	long leg	—	$1.15B	—
KuCoin ETHUSDTM	+0.0063%	8h	2,741.9	−0.001%	$383.2M	$597.1M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni ETHUSDT	+0.0063%	1h	2,738.7	−0.120%	$8.8M	$31.0M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0064%	8h	2,741.8	−0.005%	$1.70B	$10.58B	100x	as long as short
RISEx ETH/USDC	+0.0077%	1h	2,740.9	−0.038%	$5.6M	$11.2M	25x	as long as short
Bullet ETH-USD	+0.0078%	1h	2,740.8	−0.043%	$180K	$1.7M	20x	as long as short
Aster ETHUSDT	+0.0078%	8h	2,741.5	−0.016%	$252.2M	$841.3M	200x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,739.6	−0.088%	$4.9M	$155K	20x	as long as short
Binance ETHUSDT	+0.0088%	8h	2,741.6	−0.012%	$6.37B	$15.70B	150x	as long as short
MEXC ETH_USDT	+0.0089%	8h	2,742.1	+0.005%	$1.56B	$2.53B	500x	as long as short
HTX ETH-USDT	+0.0094%	8h	2,741.7	−0.008%	$1.06B	$1.18B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,742.5	+0.021%	$112.7M	$433.0M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,743.8	+0.066%	$24.6M	$103.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,741	−0.035%	—	$30.7M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0096%	1h	2,743.4	+0.051%	$58.6M	$4.27B	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,744.7	+0.098%	$16.0M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,739.7	−0.083%	$468K	$3.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,739.8	−0.079%	$13.9M	$105.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,744.1	+0.078%	$3.12B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,741.4	−0.021%	$31.6M	$335.1M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,741.6	−0.013%	$2.45B	$4.17B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,740.9	−0.039%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,741.3	−0.023%	$2.7M	$16.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,743.5	+0.057%	$165.1M	$304.9M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,742.1	+0.003%	$3.39B	$8.72B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,741.8	−0.006%	$2.08B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,741.5	−0.017%	$15.0M	$40.9M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,740.7	−0.047%	$132.6M	$333.6M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,739.2	−0.100%	$182.0M	$689.8M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,738.8	−0.115%	$159.2M	$83.5M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,739.4	−0.094%	$21.2M	$68.5M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,740.6	−0.051%	—	$819K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,741.3	−0.024%	$11.0M	$8.8M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,743.4	+0.053%	$41.5M	$29.6M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,739.9	−0.077%	$960K	$11.5M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,742	+0.001%	$54.6M	$187.5M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,741.9	−0.003%	$266.7M	$65.0M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,741.2	−0.028%	$30.6M	$72.4M	50x	as long as short
Aftermath Perps ETHUSD	+0.0134%	1h	2,741.2	−0.029%	$30K	$20K	20x	as long as short
Bluefin ETH-PERP	+0.0139%	1h	2,741.4	−0.021%	$21K	$20K	25x	as long as short
Kalshi KXETHPERP	+0.0157%	8h	2,741.1	−0.032%	$7.6M	$669.3M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0158%	1h	2,743.2	+0.046%	$258.7M	$196.1M	50x	as long as short
Orderly PERP_ETH_USDC	+0.0189%	8h	2,743.5	+0.054%	$32.3M	$11.4M	100x	as long as short
BloFin ETH-USDT	+0.0209%	8h	2,738.6	−0.124%	$284.5M	$181.8M	150x	as long as short
Kraken Futures PF_ETHUSD	+0.0221%	1h	2,742.9	+0.036%	$87.1M	$310.2M	100x	as long as short
Reya ETHRUSDPERP	+0.0226%	1h	2,739.8	−0.078%	$7.3M	$1.1M	25x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,741.4	−0.020%	$252K	$1.4M	20x	as long as short