Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.018%

Price spread now: Bitget against dYdX−0.047%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$450.447% of the position

Long on dYdX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.157%−$16 on $10k

Price spread, last 7 days+0.020%+$2 · spread now −0.047%, 7d avg +0.005%

Together, before fees−0.136%−$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.052% cheaper against dYdX than usual: you would sell low and buy high (spread −0.047% now, against its 7-day average of +0.005%). If the spread goes back, that is −$5 on $10k: about 42 hours of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.157%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ETH-USD	2,729.8	0	get 0.0000% / 1h	40m 44s	$10.5M	$42.6M	50x
Short	Bitget ETHUSDT	2,728.6	0.0100	get 0.0100% / 8h	40m 44s	$2.10B	$2.77B	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against dYdX. 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 dYdXbpFee BitgetbpOrdersPrice spread, now −0.047%Rate

Funding earned: $21
Price spread: −0.047% → +0.005%: −$5.2
Slippage, 4 orders: −$22.66
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$28.86
Costs to cover: 0.447%
Break-even: 16.6 days

Slippage from dYdX: live order book, 3 min ago; Bitget: 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 dYdX live order book, 3 min ago	6.77 bp	17.3 bp −$17	21.2 bp −$212	25.2 bp −$2,520	53.5 bp −$26.8K
Sell Bitget live order book, 3 min ago	0.02 bp	6.0 bp −$6	6.1 bp −$61	7.8 bp −$779	9.9 bp −$4,941

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
BloFin ETH-USDT	−0.0188%	8h	2,730.2	+0.012%	$280.6M	$177.9M	150x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,731	+0.042%	$5K	$1K	50x	as long as short
Phoenix ETH	−0.0015%	1h	2,732.8	+0.108%	$811K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,730.5	+0.025%	$11.9M	—	200x	as long as short
dYdX ETH-USDlong	0.0000%	1h	2,729.8	long leg	$10.5M	$42.6M	50x
Kalshi KXETHPERP	0.0000%	8h	2,731.6	+0.064%	$6.4M	$681.6M	4.9x	as long as short
Perpl ETH	0.0000%	43m	2,730.5	+0.025%	$286K	$5.7M	8.3x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,730.8	+0.036%	$262.6M	$212.4M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,730.6	+0.027%	$32.9M	—	200x	as long as short
BingX ETH-USDC	+0.0019%	8h	2,727.7	−0.080%	—	$18.6M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0023%	8h	2,728.4	−0.054%	$2.32B	$4.36B	150x	as long as short
HTX ETH-USDT	+0.0028%	8h	2,730.1	+0.008%	$1.05B	$1.22B	200x	as long as short
01 Exchange ETHUSD	+0.0032%	1h	2,731	+0.042%	$191K	$889K	50x	as long as short
Injective ETH/USDC PERP	+0.0050%	1h	2,731.5	+0.061%	$117K	$20.2M	52x	as long as short
ApeX Omni ETHUSDT	+0.0057%	1h	2,731.2	+0.051%	$8.6M	$31.6M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0060%	1h	2,730.4	+0.021%	$82.1M	$309.4M	100x	as long as short
KuCoin ETHUSDTM	+0.0072%	8h	2,729.3	−0.018%	$383.8M	$577.3M	100x	as long as short
Hibachi ETH/USDT-P	+0.0072%	1h	2,732.8	+0.107%	$242K	$1.4M	20x	as long as short
OKX ETH-USDT-SWAP	+0.0073%	8h	2,728.2	−0.059%	$1.65B	$10.84B	100x	as long as short
Aster ETHUSDT	+0.0080%	8h	2,729.3	−0.020%	$252.8M	$849.3M	200x	as long as short
MEXC ETH_USDT	+0.0093%	8h	2,728.9	−0.035%	$1.56B	$2.56B	500x	as long as short
Binance ETHUSDT	+0.0094%	8h	2,729	−0.030%	$6.31B	$16.15B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,729.2	−0.023%	$112.5M	$429.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,730.6	+0.027%	$23.5M	$102.0M	50x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,729.1	−0.027%	$4.9M	$183K	20x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,730	+0.006%	$501K	$3.5M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,733.1	+0.120%	$15.4M	$7.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,730.5	+0.023%	$14.0M	$104.9M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,732.2	+0.086%	$3.12B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,729.9	+0.002%	$32.1M	$333.6M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,730.9	+0.039%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,729.3	−0.021%	$1.5M	$15.9M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,729.5	−0.012%	$162.7M	$356.9M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,729.3	−0.019%	$3.31B	$8.86B	200x	as long as short
Bitget ETHUSDTshort	+0.0100%	8h	2,728.6	−0.047%	$2.10B	$2.77B	150x
Backpack ETH_USDC_PERP	+0.0100%	1h	2,729.8	−0.001%	$15.0M	$41.2M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,729.4	−0.017%	$133.9M	$317.7M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,730.4	+0.021%	$185.7M	$681.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,732	+0.080%	$158.8M	$83.6M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,731.5	+0.061%	$21.0M	$70.6M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,732.2	+0.088%	—	$445K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,731.6	+0.064%	$11.2M	$9.4M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,730.3	+0.016%	$184K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,731.3	+0.054%	$22K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,731.9	+0.076%	$40.9M	$30.1M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,729.9	0.000%	$957K	$10.9M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,730.1	+0.009%	$54.4M	$187.2M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,730.5	+0.023%	$263.2M	$64.4M	150x	as long as short
Aftermath Perps ETHUSD	+0.0104%	1h	2,731.6	+0.064%	$30K	$20K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,728.4	−0.051%	$30.4M	$72.2M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0056%	1h	2,730.8	+0.034%	—	$30.4M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,731.5	+0.059%	$46.6M	$4.30B	50x	as long as short
RISEx ETH/USDC	+0.0114%	1h	2,729	−0.030%	$5.6M	$11.7M	25x	as long as short
Reya ETHRUSDPERP	+0.0183%	1h	2,729.1	−0.028%	$7.3M	$975K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0185%	8h	2,732.5	+0.097%	$32.2M	$11.2M	100x	as long as short