Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0065%/8h= −7.1% APRpaid last 24h +0.042%

Price spread now: dYdX against Bitget+0.043%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$300.302% of the position

Long on Bitget Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.166%+$17 on $10k

Price spread, last 7 days+0.050%+$5 · spread now +0.043%, 7d avg −0.003%

Together, before fees+0.216%+$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.046% dearer against Bitget than usual: you sell high and buy low (spread +0.043% now, against its 7-day average of −0.003%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.4 days. Mind the row above: over the last 7 days funding on this pair paid +0.166%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ETHUSDT	2,783.4	0.0065	pay 0.0065% / 8h	50m 48s	$2.11B	$3.11B	150x
Short	dYdX ETH-USD	2,784.6	0	get 0.0000% / 1h	50m 48s	$12.8M	$45.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$13.65
Price spread: +0.043% → −0.003%: $4.59
Slippage, 4 orders: −$8.18
Fee Bitget: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$39.24
Costs to cover: 0.302%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; dYdX: live order book, 3 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, 3 min ago	0.02 bp	6.0 bp −$6	6.8 bp −$68	8.2 bp −$817	doesn't fit
Sell dYdX live order book, 3 min ago	0.36 bp	9.2 bp −$9	13.8 bp −$138	21.0 bp −$2,097	37.7 bp −$18.8K

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	2,784.9	+0.053%	$288K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0206%	1h	2,783.3	−0.005%	$5.7M	$11.9M	25x	as long as short
Injective ETH/USDC PERP	−0.0088%	1h	2,782.5	−0.033%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,785.9	+0.089%	$5K	$2K	50x	as long as short
ApeX Omni ETHUSDT	−0.0066%	1h	2,786.6	+0.114%	$8.8M	$32.8M	100x	as long as short
01 Exchange ETHUSD	−0.0024%	1h	2,783.8	+0.014%	$169K	$1.2M	50x	as long as short
Aftermath Perps ETHUSD	−0.0006%	1h	2,782.5	−0.033%	$29K	$22K	20x	as long as short
dYdX ETH-USDshort	0.0000%	1h	2,784.6	+0.043%	$12.8M	$45.9M	50x
Phoenix ETH	+0.0003%	1h	2,785	+0.057%	$888K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,784.4	+0.035%	$22.5M	—	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDC	+0.0016%	8h	2,784	+0.020%	—	$17.4M	—	as long as short
OKX ETH-USDT-SWAP	+0.0020%	8h	2,784.1	+0.026%	$1.70B	$11.93B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0026% / S +0.0009%	1h	2,784.2	+0.029%	$12.9M	—	200x	as long as short
Phemex ETHUSDT	+0.0027%	8h	2,783.3	−0.005%	$271.2M	$68.8M	150x	as long as short
Aster ETHUSDT	+0.0039%	8h	2,784.4	+0.034%	$256.9M	$1.00B	200x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,783.6	+0.005%	$5.1M	$636K	20x	as long as short
Bitget ETHUSDTlong	+0.0065%	8h	2,783.4	long leg	$2.11B	$3.11B	150x
MEXC ETH_USDT	+0.0066%	8h	2,784.6	+0.041%	$1.60B	$2.63B	500x	as long as short
Binance ETHUSDT	+0.0066%	8h	2,784.6	+0.042%	$6.46B	$17.27B	150x	as long as short
Gate ETH_USDT	+0.0072%	8h	2,784.4	+0.035%	$3.31B	$9.59B	200x	as long as short
Bullet ETH-USD	+0.0072%	1h	2,783.7	+0.010%	$184K	$1.7M	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,784.6	+0.042%	$60.3M	$4.62B	50x	as long as short
KuCoin ETHUSDTM	+0.0090%	8h	2,783.6	+0.005%	$423.5M	$739.5M	100x	as long as short
Bybit ETHUSDT	+0.0090%	8h	2,784.3	+0.032%	$2.52B	$4.63B	150x	as long as short
HTX ETH-USDT	+0.0090%	8h	2,783.1	−0.010%	$1.08B	$1.32B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,784	+0.021%	$116.3M	$495.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,785.2	+0.063%	$25.4M	$120.7M	50x	as long as short
Vest ETH-PERP	+0.0097%	1h	2,784.3	+0.033%	—	$1.1M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,783.3	−0.005%	$16.0M	$10.5M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,783.5	+0.003%	$479K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,785.3	+0.067%	$14.4M	$118.2M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,785.9	+0.089%	$3.20B	$2.35B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,785.3	+0.067%	$31.3M	$306.5M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,783.3	−0.004%	$2.8M	$17.2M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,784.8	+0.049%	$2.7M	$17.2M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,777.9	−0.196%	$168.1M	$250.4M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,783	−0.013%	$15.1M	$44.0M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,781.4	−0.072%	$147.6M	$336.7M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,782.4	−0.038%	$182.1M	$780.5M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,784.1	+0.024%	$161.9M	$90.2M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,784.5	+0.039%	$21.5M	$58.3M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,784.5	+0.039%	$10.8M	$7.6M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,784.3	+0.033%	$21K	$24K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,785.5	+0.075%	$42.9M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,782.9	−0.018%	$976K	$13.9M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,783.4	0.000%	$55.4M	$229.0M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,782.9	−0.018%	$32.7M	$77.7M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,784.2	+0.028%	—	$41.8M	500x	as long as short
Deribit ETH-PERPETUAL	+0.0116%	1h	2,785	+0.056%	$258.9M	$222.8M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0122%	1h	2,784.4	+0.036%	$86.8M	$332.8M	100x	as long as short
Kalshi KXETHPERP	+0.0124%	8h	2,784.8	+0.050%	$8.5M	$682.3M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0136%	8h	2,786.2	+0.099%	$32.7M	$12.1M	100x	as long as short
BloFin ETH-USDT	+0.0186%	8h	2,783.3	−0.005%	$285.1M	$195.1M	150x	as long as short
Reya ETHRUSDPERP	+0.0198%	1h	2,783.3	−0.002%	$7.4M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0288%	1h	2,785.5	+0.075%	$271K	$1.5M	20x	as long as short