Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.018%

Price spread now: StandX against Bluefin+0.074%7-day average — · you sell dearer than you buy

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

Long on Bluefin Short on StandX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropStandX: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: StandX is 0.074% dearer against Bluefin than usual: you sell high and buy low, +$7 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bluefin ETH-PERP	2,771.5	0.0100	pay 0.0013% / 1h	7m 59s	$21K	$24K	25x
Short	StandX ETH-USD	2,773.5	0.0100	get 0.0013% / 1h	7m 59s	$21.4M	$58.2M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

StandX against Bluefin. 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 BluefinbpFee StandXbpOrdersPrice spread, now +0.074%Rate

Funding earned: $0
Price spread: +0.074% → 0.000%: $7.36
Slippage, 4 orders: no order book: not counted
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee StandX: 4 bp × 2 orders: −$8
Net: −$7.64
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Bluefin: no order-book sample; StandX: live order book, 1 min ago. 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 Bluefin no order-book sample	—	—	—	—	—
Sell StandX live order book, 1 min ago	1.08 bp	5.4 bp −$5	8.0 bp −$80	11.5 bp −$1,148	doesn't fit

Bluefin: 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	2,773.7	+0.079%	$287K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,771.8	+0.014%	$5.7M	$11.8M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,774.5	+0.110%	$5K	$2K	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,779.6	+0.294%	$119K	$22.5M	52x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,772.4	+0.034%	$169K	$1.2M	50x	as long as short
Aftermath Perps ETHUSD	−0.0002%	1h	2,773.8	+0.085%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,774	+0.090%	$12.7M	$45.7M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,773.5	+0.074%	$885K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,771.7	+0.010%	$22.4M	—	200x	as long as short
BingX ETH-USDT	+0.0015%	8h	2,770.9	−0.022%	—	$1.20B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0017%	8h	2,770.6	−0.032%	$1.70B	$11.84B	100x	as long as short
Phemex ETHUSDT	+0.0024%	8h	2,771	−0.018%	$269.8M	$68.9M	150x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0027% / S +0.0009%	1h	2,771.7	+0.009%	$12.9M	—	200x	as long as short
Bullet ETH-USD	+0.0027%	1h	2,770.9	−0.019%	$181K	$1.7M	20x	as long as short
Deribit ETH-PERPETUAL	+0.0031%	1h	2,772	+0.021%	$258.5M	$222.2M	50x	as long as short
Aster ETHUSDT	+0.0031%	8h	2,770.5	−0.035%	$255.6M	$995.0M	200x	as long as short
Nado ETH-PERP	+0.0057%	1h	2,772	+0.019%	$14.2M	$118.1M	50x	as long as short
MEXC ETH_USDT	+0.0060%	8h	2,770.6	−0.030%	$1.61B	$2.68B	500x	as long as short
Binance ETHUSDT	+0.0060%	8h	2,770.9	−0.021%	$6.43B	$17.22B	150x	as long as short
ApeX Omni ETHUSDT	+0.0062%	1h	2,772.2	+0.026%	$8.7M	$32.6M	100x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,768.3	−0.114%	$5.0M	$636K	20x	as long as short
SoDEX ETH-USD	+0.0065%	1h	2,770.5	−0.035%	$55.2M	$229.0M	40x	as long as short
Bitget ETHUSDT	+0.0067%	8h	2,770.5	−0.035%	$2.10B	$3.10B	150x	as long as short
Gate ETH_USDT	+0.0072%	8h	2,770.6	−0.030%	$3.28B	$9.67B	200x	as long as short
HTX ETH-USDT	+0.0089%	8h	2,771.3	−0.007%	$1.08B	$1.32B	200x	as long as short
Bybit ETHUSDT	+0.0092%	8h	2,770.8	−0.025%	$2.51B	$4.62B	150x	as long as short
KuCoin ETHUSDTM	+0.0095%	8h	2,770.6	−0.032%	$421.0M	$739.0M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,770.7	−0.029%	$114.9M	$503.0M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,772.2	+0.027%	$25.3M	$121.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,772.9	+0.051%	—	$41.6M	500x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,773.6	+0.076%	$15.9M	$10.5M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,772.7	+0.045%	$477K	$2.7M	50x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,772.1	+0.024%	—	$1.1M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,773.3	+0.066%	$3.18B	$2.35B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,774.4	+0.104%	$31.2M	$303.9M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,772.5	+0.038%	$2.8M	$17.0M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,774	+0.092%	$2.7M	$17.6M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,770.8	−0.023%	$166.1M	$253.0M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,770.8	−0.025%	$15.1M	$44.1M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,770.9	−0.022%	$144.7M	$334.7M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,771.1	−0.013%	$181.4M	$779.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,772.5	+0.037%	$161.3M	$91.1M	50x	as long as short
StandX ETH-USDshort	+0.0100%	1h	2,773.5	+0.074%	$21.4M	$58.2M	40x
Polymarket Perps ETH-USD	+0.0100%	1h	2,772.4	+0.034%	$10.8M	$7.6M	50x	as long as short
Bluefin ETH-PERPlong	+0.0100%	1h	2,771.5	long leg	$21K	$24K	25x
Derive ETH-PERP	+0.0100%	1h	2,773.1	+0.059%	$42.7M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,770.7	−0.026%	$970K	$14.0M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,770.1	−0.051%	$32.6M	$77.6M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,771.6	+0.004%	$59.7M	$4.59B	50x	as long as short
Kalshi KXETHPERP	+0.0125%	8h	2,774.6	+0.113%	$8.4M	$681.0M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0136%	8h	2,773.4	+0.069%	$32.5M	$12.0M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0170%	1h	2,771.3	−0.006%	$85.9M	$332.1M	100x	as long as short
BloFin ETH-USDT	+0.0180%	8h	2,773.3	+0.067%	$284.7M	$194.4M	150x	as long as short
Reya ETHRUSDPERP	+0.0194%	1h	2,770.6	−0.030%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0256%	1h	2,774.9	+0.123%	$270K	$1.5M	20x	as long as short