Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0035%/8h= +3.8% APRpaid last 24h +0.016%

Price spread now: Arcus against Bitget+0.026%7-day average +0.027% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$190.186% of the position

Long on Bitget Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.037%+$4 on $10k

Price spread, last 7 days+0.001%$0 · spread now +0.026%, 7d avg +0.027%

Together, before fees+0.038%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.027%, 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	Bitget ETHUSDT	2,774	0.0065	pay 0.0065% / 8h	4m 29s	$2.11B	$3.10B	150x
Short	Arcus ETH-USD	2,774.7	0.0100	get 0.0013% / 1h	4m 29s	$2.7M	$17.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Bitget. 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 BitgetbpFee ArcusbpOrdersPrice spread, now +0.026%Rate

Funding earned: $7.35
Price spread: +0.026% → +0.027%: −$0.04
Slippage, 4 orders: −$2.15
Fee Bitget: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$11.33
Costs to cover: 0.186%
Break-even: 17.8 days

Slippage from Bitget: 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 Bitget live order book, 5 min ago	0.02 bp	6.0 bp −$6	6.0 bp −$60	7.2 bp −$719	10.2 bp −$5,102
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	2,769.1	−0.175%	$285K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0206%	1h	2,774	+0.002%	$5.6M	$11.9M	25x	as long as short
Injective ETH/USDC PERP	−0.0088%	1h	2,762.1	−0.428%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,772.4	−0.057%	$5K	$2K	50x	as long as short
ApeX Omni ETHUSDT	−0.0021%	1h	2,769.3	−0.169%	$8.7M	$32.9M	100x	as long as short
01 Exchange ETHUSD	−0.0008%	1h	2,774.4	+0.015%	$168K	$1.2M	50x	as long as short
dYdX ETH-USD	0.0000%	1h	2,774.1	+0.004%	$12.7M	$45.9M	50x	as long as short
Phoenix ETH	+0.0003%	1h	2,771.5	−0.089%	$876K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,770.8	−0.114%	$22.4M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0021%	8h	2,774.5	+0.018%	$1.71B	$11.90B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX ETH/USD [ETH-USDC]	L +0.0026% / S +0.0009%	1h	2,770.6	−0.121%	$12.8M	—	200x	as long as short
Aftermath Perps ETHUSD	+0.0029%	1h	2,771.1	−0.102%	$29K	$22K	20x	as long as short
Phemex ETHUSDT	+0.0030%	8h	2,769.5	−0.163%	$269.9M	$68.7M	150x	as long as short
SoDEX ETH-USD	+0.0030%	1h	2,769.9	−0.147%	$55.1M	$228.7M	40x	as long as short
Aster ETHUSDT	+0.0032%	8h	2,774.5	+0.018%	$256.1M	$1.00B	200x	as long as short
Bullet ETH-USD	+0.0035%	1h	2,769.8	−0.150%	$182K	$1.7M	20x	as long as short
MEXC ETH_USDT	+0.0054%	8h	2,773.3	−0.024%	$1.62B	$2.66B	500x	as long as short
Binance ETHUSDT	+0.0054%	8h	2,774.5	+0.018%	$6.47B	$17.28B	150x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,768.8	−0.187%	$5.0M	$636K	20x	as long as short
Bitget ETHUSDTlong	+0.0065%	8h	2,774	long leg	$2.11B	$3.10B	150x
Gate ETH_USDT	+0.0067%	8h	2,773.9	−0.001%	$3.29B	$9.70B	200x	as long as short
KuCoin ETHUSDTM	+0.0081%	8h	2,773.8	−0.005%	$421.5M	$738.4M	100x	as long as short
Bybit ETHUSDT	+0.0088%	8h	2,774.7	+0.027%	$2.51B	$4.62B	150x	as long as short
BingX ETH-USDC	+0.0088%	8h	2,773.4	−0.019%	—	$17.5M	—	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,771.1	−0.104%	$60.3M	$4.59B	50x	as long as short
Nado ETH-PERP	+0.0092%	1h	2,774.5	+0.020%	$14.3M	$118.2M	50x	as long as short
HTX ETH-USDT	+0.0092%	8h	2,769.2	−0.173%	$1.08B	$1.32B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,773.9	−0.004%	$115.1M	$501.9M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,775.5	+0.056%	$25.3M	$122.1M	50x	as long as short
Vest ETH-PERP	+0.0097%	1h	2,774	−0.001%	—	$1.1M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,773.3	−0.025%	$15.9M	$10.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,773.5	−0.017%	$483K	$2.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,775.6	+0.058%	$3.17B	$2.36B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,774.2	+0.008%	$31.3M	$316.9M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,771.3	−0.097%	$2.8M	$17.2M	25x	as long as short
Arcus ETH-USDshort	+0.0100%	1h	2,774.7	+0.026%	$2.7M	$17.4M	25x
Bulk ETH-USD	+0.0100%	1h	2,769.4	−0.165%	$169.4M	$262.8M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,769.7	−0.153%	$15.1M	$44.2M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,768.5	−0.196%	$148.3M	$337.3M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,769.8	−0.151%	$181.8M	$784.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,770.9	−0.110%	$161.1M	$89.5M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,770.8	−0.115%	$21.4M	$58.7M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,770.3	−0.133%	$10.6M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,770.4	−0.129%	$21K	$24K	25x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,768.9	−0.182%	$970K	$13.9M	100x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,772.5	−0.054%	$42.7M	$29.4M	15x	as long as short
Kalshi KXETHPERP	+0.0102%	8h	2,770.5	−0.125%	$8.2M	$688.4M	4.9x	as long as short
Extended ETH-USD	+0.0104%	1h	2,773.3	−0.024%	$32.5M	$78.4M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,770.8	−0.116%	—	$43.8M	500x	as long as short
Deribit ETH-PERPETUAL	+0.0104%	1h	2,771.7	−0.082%	$259.0M	$222.2M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0123%	1h	2,771.1	−0.103%	$90.4M	$338.2M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0144%	8h	2,772.8	−0.044%	$32.6M	$12.2M	100x	as long as short
BloFin ETH-USDT	+0.0175%	8h	2,770	−0.142%	$286.6M	$193.5M	150x	as long as short
Hibachi ETH/USDT-P	+0.0200%	1h	2,770	−0.145%	$252K	$1.6M	20x	as long as short
Reya ETHRUSDPERP	+0.0205%	1h	2,769.9	−0.146%	$7.3M	$1.2M	25x	as long as short