Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0201%/8h= −22.0% APRpaid last 24h −0.013%

Price spread now: edgeX against BloFin+0.145%7-day average −0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$6as in the Price arb table

costs, in and out, $10k−$230.226% of the position

Long on BloFin Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.121%−$12 on $10k

Price spread, last 4 days (all we have)+0.272%+$27 · spread now +0.145%, 7d avg −0.017%

Together, before fees+0.151%+ Points / potential airdropedgeX: Active · farm board+$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.163% dearer against BloFin than usual: you sell high and buy low (spread +0.145% now, against its 7-day average of −0.017%): +$16 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.7 days. At the pace of the last 7 days (−0.121% in total) that is about 9.4 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.121% in total (about -6.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ETH-USDT	2,745	0.0301	pay 0.0301% / 8h	6h 59m	$281.8M	$166.0M	150x
Short	edgeX ETHUSDC	2,749	0.0100	get 0.0050% / 4h	2h 59m	$186.3M	$695.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against BloFin. 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 BloFinbpFee edgeXbpOrdersPrice spread, now +0.145%Rate

Funding earned: −$42.24
Price spread: +0.145% → −0.017%: $16.25
Slippage, 4 orders: −$1.56
Fee BloFin: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$48.55
Costs to cover: 0.226%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; edgeX: 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 BloFin live order book, 5 min ago	0.02 bp	6.3 bp −$6	6.5 bp −$65	7.1 bp −$713	9.2 bp −$4,611
Sell edgeX live order book, 5 min ago	0.11 bp	4.9 bp −$5	5.0 bp −$50	5.1 bp −$505	6.4 bp −$3,197

ETH on 54 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	2,748.4	+0.123%	$5K	$1K	50x	as long as short
Bybit ETHUSDT	−0.0036%	8h	2,745.3	+0.011%	$2.36B	$4.15B	150x	as long as short
Hibachi ETH/USDT-P	−0.0024%	1h	2,750	+0.180%	$236K	$1.3M	20x	as long as short
Phoenix ETH	−0.0012%	1h	2,751.4	+0.233%	$814K	$2.8M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,748.9	+0.140%	$12.0M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,747.2	+0.081%	$11.1M	$41.5M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,747.8	+0.102%	$182K	$927K	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,747.9	+0.105%	$6.8M	$664.0M	4.9x	as long as short
Perpl ETH	0.0000%	43m	2,746.2	+0.044%	$271K	$5.2M	8.3x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,746.2	+0.043%	$266.4M	$209.5M	50x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,749.8	+0.173%	$33.2M	—	200x	as long as short
Phemex ETHUSDT	+0.0034%	8h	2,745.6	+0.020%	$264.2M	$59.4M	150x	as long as short
Gate ETH_USDT	+0.0041%	8h	2,745.6	+0.020%	$3.27B	$7.65B	200x	as long as short
OKX ETH-USDT-SWAP	+0.0069%	8h	2,745.1	+0.004%	$1.67B	$10.19B	100x	as long as short
ApeX Omni ETHUSDT	+0.0070%	1h	2,749.5	+0.163%	$8.3M	$30.3M	100x	as long as short
Aster ETHUSDT	+0.0071%	8h	2,745.3	+0.012%	$253.0M	$796.8M	200x	as long as short
SoDEX ETH-USD	+0.0078%	1h	2,745	0.000%	$54.7M	$160.0M	40x	as long as short
HTX ETH-USDT	+0.0079%	8h	2,744.7	−0.010%	$1.05B	$1.16B	200x	as long as short
Kraken Futures PF_ETHUSD	+0.0080%	1h	2,745.8	+0.029%	$82.5M	$290.8M	100x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,742.8	−0.080%	$4.9M	$200K	20x	as long as short
Binance ETHUSDT	+0.0081%	8h	2,745	+0.001%	$6.41B	$15.44B	150x	as long as short
MEXC ETH_USDT	+0.0081%	8h	2,745.6	+0.021%	$1.58B	$2.46B	500x	as long as short
KuCoin ETHUSDTM	+0.0089%	8h	2,745.1	+0.003%	$367.8M	$481.9M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,745.7	+0.024%	$113.5M	$378.1M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,746.8	+0.064%	$24.8M	$91.5M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,749.9	+0.179%	—	$24.7M	500x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,747	+0.072%	$510K	$3.5M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,751.8	+0.246%	$15.7M	$6.5M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,747.9	+0.106%	$14.6M	$100.5M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,747.6	+0.094%	$3.13B	$1.94B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,748.3	+0.120%	$32.1M	$326.2M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,747.8	+0.102%	$2.8M	$15.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,748	+0.110%	$1.5M	$15.3M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,751.4	+0.231%	$166.7M	$340.7M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,745.5	+0.019%	$2.11B	$2.55B	150x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,744.8	−0.009%	—	$18.5M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,745.3	+0.012%	$14.9M	$37.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,746.4	+0.051%	$131.8M	$307.2M	—	as long as short
edgeX ETHUSDCshort	+0.0100%	4h	2,749	+0.145%	$186.3M	$695.2M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,749.1	+0.150%	$159.8M	$73.6M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,749.4	+0.160%	$21.1M	$72.3M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,748.8	+0.140%	—	$409K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,748.2	+0.116%	$11.3M	$9.0M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,745.6	+0.022%	$176K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,745.7	+0.025%	$20K	$15K	25x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,746.3	+0.047%	$946K	$9.9M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,744.2	−0.031%	$30.4M	$68.6M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,745.9	+0.032%	$45.6M	$4.10B	50x	as long as short
Aftermath Perps ETHUSD	+0.0107%	1h	2,749.6	+0.169%	$30K	$12K	20x	as long as short
Reya ETHRUSDPERP	+0.0167%	1h	2,745	−0.002%	$7.3M	$880K	25x	as long as short
RISEx ETH/USDC	+0.0167%	1h	2,746.4	+0.052%	$5.6M	$11.2M	25x	as long as short
Orderly PERP_ETH_USDC	+0.0182%	8h	2,747.5	+0.089%	$32.4M	$10.4M	100x	as long as short
BloFin ETH-USDTlong	+0.0301%	8h	2,745	long leg	$281.8M	$166.0M	150x
Injective ETH/USDC PERP	+0.0308%	1h	2,752.8	+0.284%	$122K	$19.9M	52x	as long as short