Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0157%/8h= −17.2% APRpaid last 24h −0.012%

Price spread now: Reya against BloFin−0.035%7-day average −0.015% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.053%−$5 on $10k

Price spread, last 4 days (all we have)+0.131%+$13 · spread now −0.035%, 7d avg −0.015%

Together, before fees+0.078%+ Points / potential airdropReya: Active · farm board+$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.015%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ETH-USDT	2,734.3	0.0375	pay 0.0375% / 8h	4h 17m	$283.8M	$175.7M	150x
Short	Reya ETHRUSDPERP	2,733.3	0.0219	get 0.0027% / 1h	17m 00s	$7.3M	$1.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.035%Rate

Funding earned: −$32.92
Price spread: −0.035% → −0.015%: −$1.97
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$52.89
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 2 min ago; Reya: no order-book sample. Net counts fees only.

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, 2 min ago	0.02 bp	6.0 bp −$6	6.1 bp −$61	6.5 bp −$650	8.5 bp −$4,243
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	2,732.8	−0.054%	$297K	$5.6M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,734.2	−0.003%	$117K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,732.3	−0.072%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,734.7	+0.014%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,733.1	−0.044%	$10.8M	$41.6M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,734.5	+0.008%	$187K	$823K	50x	as long as short
Phoenix ETH	0.0000%	1h	2,733.9	−0.014%	$828K	$2.9M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,734.9	+0.022%	$28.1M	—	200x	as long as short
Bullet ETH-USD	+0.0009%	1h	2,733.9	−0.014%	$179K	$1.7M	20x	as long as short
HTX ETH-USDT	+0.0038%	8h	2,733.2	−0.041%	$1.06B	$1.20B	200x	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	+0.0049%	1h	2,732.7	−0.059%	$8.7M	$31.3M	100x	as long as short
BingX ETH-USDC	+0.0052%	8h	2,734	−0.009%	—	$18.4M	—	as long as short
Bybit ETHUSDT	+0.0059%	8h	2,734.4	+0.005%	$2.39B	$4.35B	150x	as long as short
KuCoin ETHUSDTM	+0.0064%	8h	2,734.2	−0.002%	$380.3M	$574.5M	100x	as long as short
Phemex ETHUSDT	+0.0072%	8h	2,734.3	0.000%	$265.8M	$65.3M	150x	as long as short
OKX ETH-USDT-SWAP	+0.0072%	8h	2,734.8	+0.018%	$1.67B	$10.72B	100x	as long as short
Aster ETHUSDT	+0.0085%	8h	2,734.6	+0.012%	$251.1M	$841.9M	200x	as long as short
SoDEX ETH-USD	+0.0091%	1h	2,734.3	+0.001%	$54.5M	$187.6M	40x	as long as short
Binance ETHUSDT	+0.0094%	8h	2,734.8	+0.020%	$6.36B	$15.87B	150x	as long as short
MEXC ETH_USDT	+0.0094%	8h	2,734.5	+0.008%	$1.55B	$2.57B	500x	as long as short
Lighter ETH	+0.0096%	1h	2,734.7	+0.016%	$112.9M	$440.3M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,735.9	+0.060%	$23.4M	$106.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,734.6	+0.010%	—	$30.9M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,731.8	−0.090%	$4.9M	$155K	20x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,737.3	+0.112%	$15.5M	$8.0M	50x	as long as short
RISEx ETH/USDC	+0.0099%	1h	2,734.6	+0.013%	$5.6M	$11.6M	25x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,733.5	−0.028%	$500K	$3.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,733.7	−0.019%	$13.6M	$104.4M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,737.2	+0.107%	$3.11B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,735	+0.025%	$31.9M	$333.9M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,733.6	−0.025%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,734.7	+0.016%	$1.6M	$16.3M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,735.3	+0.037%	$3.34B	$8.91B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,734.9	+0.021%	$2.07B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,734.5	+0.008%	$15.0M	$39.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,731.5	−0.102%	$133.7M	$325.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,732.2	−0.077%	$183.8M	$671.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,732.8	−0.055%	$159.0M	$86.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,732	−0.083%	$21.1M	$68.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,734.6	+0.012%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,735.6	+0.049%	$11.2M	$9.2M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,734.3	+0.002%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,736.3	+0.073%	$41.3M	$29.8M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,733	−0.047%	$958K	$11.3M	100x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,734.8	+0.020%	$164.8M	$300.4M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,733.8	−0.018%	$30.4M	$72.8M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0108%	1h	2,735.7	+0.053%	$259.7M	$196.4M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,735.5	+0.046%	$51.3M	$4.27B	50x	as long as short
Aftermath Perps ETHUSD	+0.0115%	1h	2,734.1	−0.004%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0136%	8h	2,734	−0.010%	$6.8M	$678.6M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0195%	8h	2,736.6	+0.086%	$32.2M	$11.6M	100x	as long as short
Reya ETHRUSDPERPshort	+0.0219%	1h	2,733.3	−0.035%	$7.3M	$1.2M	25x
Kraken Futures PF_ETHUSD	+0.0222%	1h	2,735.1	+0.031%	$83.4M	$314.7M	100x	as long as short
Hibachi ETH/USDT-P	+0.0272%	1h	2,733.1	−0.043%	$253K	$1.4M	20x	as long as short
BloFin ETH-USDTlong	+0.0375%	8h	2,734.3	long leg	$283.8M	$175.7M	150x