Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h −0.002%

Price spread now: Aevo against Bybit+0.018%7-day average −0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$480.480% of the position

Long on Bybit Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 3 days (all we have)−0.116%−$12 · spread now +0.018%, 7d avg −0.060%

Together, before fees−0.114%−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aevo is 0.079% dearer against Bybit than usual: you sell high and buy low (spread +0.018% now, against its 7-day average of −0.060%): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 9.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ETHUSDT	2,767.4	0.0092	pay 0.0092% / 8h	1h 31m	$2.51B	$4.61B	150x
Short	Aevo ETH-PERP	2,767.9	0.0064	get 0.0008% / 1h	31m 14s	$5.0M	$636K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Bybit. 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 BybitbpFee AevobpOrdersPrice spread, now +0.018%Rate

Funding earned: −$5.98
Price spread: +0.018% → −0.060%: $7.88
Slippage, 4 orders: −$21.01
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$46.11
Costs to cover: 0.480%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Aevo: 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 Bybit live order book, 3 min ago	0.02 bp	5.5 bp −$6	5.5 bp −$55	7.4 bp −$743	10.6 bp −$5,322
Sell Aevo live order book, 3 min ago	6.16 bp	22.0 bp −$22	36.9 bp −$369	doesn't fit	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	−0.0447%	43m	2,770.9	+0.126%	$289K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,769.7	+0.085%	$5.8M	$12.1M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,770.7	+0.120%	$5K	$2K	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,770.3	+0.106%	$119K	$22.5M	52x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,770.3	+0.106%	$169K	$1.2M	50x	as long as short
Aftermath Perps ETHUSD	−0.0022%	1h	2,775.8	+0.306%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,770.5	+0.113%	$12.7M	$45.5M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,778.1	+0.388%	$886K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,770.5	+0.113%	$22.4M	—	200x	as long as short
BingX ETH-USDT	+0.0016%	8h	2,769.6	+0.081%	—	$1.18B	—	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	+0.0020%	8h	2,767.6	+0.007%	$1.70B	$11.80B	100x	as long as short
Phemex ETHUSDT	+0.0026%	8h	2,768.1	+0.026%	$269.2M	$68.7M	150x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0027% / S +0.0009%	1h	2,770.4	+0.110%	$12.9M	—	200x	as long as short
Aster ETHUSDT	+0.0034%	8h	2,769.4	+0.074%	$255.7M	$990.6M	200x	as long as short
Deribit ETH-PERPETUAL	+0.0035%	1h	2,770.2	+0.101%	$258.3M	$222.2M	50x	as long as short
Bullet ETH-USD	+0.0037%	1h	2,769.8	+0.086%	$180K	$1.7M	20x	as long as short
MEXC ETH_USDT	+0.0060%	8h	2,769.8	+0.086%	$1.62B	$2.66B	500x	as long as short
Binance ETHUSDT	+0.0060%	8h	2,767.7	+0.014%	$6.42B	$17.15B	150x	as long as short
Aevo ETH-PERPshort	+0.0064%	1h	2,767.9	+0.018%	$5.0M	$636K	20x
Nado ETH-PERP	+0.0064%	1h	2,769.2	+0.066%	$14.3M	$118.0M	50x	as long as short
SoDEX ETH-USD	+0.0071%	1h	2,768.5	+0.041%	$55.1M	$228.8M	40x	as long as short
Gate ETH_USDT	+0.0072%	8h	2,769.7	+0.083%	$3.28B	$9.60B	200x	as long as short
Bitget ETHUSDT	+0.0072%	8h	2,768.3	+0.033%	$2.10B	$3.10B	150x	as long as short
Bybit ETHUSDTlong	+0.0092%	8h	2,767.4	long leg	$2.51B	$4.61B	150x
HTX ETH-USDT	+0.0094%	8h	2,767.5	+0.005%	$1.08B	$1.32B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,768.4	+0.037%	$114.8M	$499.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,769.4	+0.073%	$25.3M	$121.2M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,771	+0.132%	—	$41.5M	500x	as long as short
ApeX Omni ETHUSDT	+0.0097%	1h	2,777.8	+0.375%	$8.7M	$32.5M	100x	as long as short
KuCoin ETHUSDTM	+0.0098%	8h	2,769.8	+0.086%	$424.5M	$738.1M	100x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,769.6	+0.080%	$15.9M	$10.5M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,769.9	+0.091%	$479K	$2.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,772.2	+0.175%	$3.18B	$2.37B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,770.2	+0.104%	$31.3M	$297.6M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,768.9	+0.055%	$2.8M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,771.6	+0.152%	$2.8M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,781.3	+0.504%	$166.9M	$248.1M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,771	+0.132%	$15.2M	$44.5M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,774.6	+0.261%	$135.3M	$322.5M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,777.1	+0.350%	$180.0M	$780.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,777	+0.348%	$161.5M	$91.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,772.6	+0.189%	$21.4M	$58.0M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,770.9	+0.129%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,771.2	+0.138%	$10.8M	$7.6M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,769.6	+0.081%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,770.9	+0.127%	$42.6M	$29.3M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,767.9	+0.019%	$971K	$14.0M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,767.9	+0.019%	$31.4M	$74.5M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,770	+0.093%	$60.0M	$4.59B	50x	as long as short
Kalshi KXETHPERP	+0.0118%	8h	2,771.7	+0.156%	$8.7M	$675.3M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0137%	8h	2,771.2	+0.137%	$32.5M	$12.0M	100x	as long as short
Hibachi ETH/USDT-P	+0.0168%	1h	2,773.6	+0.224%	$278K	$1.5M	20x	as long as short
Kraken Futures PF_ETHUSD	+0.0170%	1h	2,769.3	+0.071%	$86.0M	$331.4M	100x	as long as short
BloFin ETH-USDT	+0.0180%	8h	2,768.3	+0.033%	$283.9M	$193.9M	150x	as long as short
Reya ETHRUSDPERP	+0.0190%	1h	2,769.7	+0.084%	$7.3M	$1.2M	25x	as long as short