Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0148%/8h= −16.2% APRpaid last 24h −0.045%

Price spread now: Jupiter Perps against edgeX+0.007%70s7-day average +0.036% · you sell dearer than you buy

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

Long on edgeX Short on Jupiter Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.154%−$15 on $10k

Price spread, last 4 days (all we have)−0.006%−$1 · spread now +0.007%, 7d avg +0.036%

Together, before fees−0.160%+ Points / potential airdropedgeX: Active · farm board−$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Jupiter Perps is 0.030% cheaper against edgeX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.036%). Swap the legs. The two prices were read 70 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ETHUSDC	2,725.6	0.0100	pay 0.0050% / 4h	1h 33m	$184.8M	$681.4M	100x
Short	Jupiter Perps ETH-PERP	2,725.8	L +0.0104% / S +0.0048%	pay 0.0006% / 1h	33m 55s	—	$30.5M	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Jupiter Perps against edgeX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 edgeXbpFee Jupiter PerpsbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$31.08
Price spread: +0.007% → +0.036%: −$2.96
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Net: −$55.04
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 5 min ago; Jupiter Perps: 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 edgeX live order book, 5 min ago	0.04 bp	6.9 bp −$7	7.1 bp −$71	7.4 bp −$740	9.5 bp −$4,760
Sell Jupiter Perps no order-book sample	—	—	—	—	—

Jupiter Perps: 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	−0.0112%	43m	2,725.3	−0.011%	$288K	$5.8M	8.3x	as long as short
ApeX Omni ETHUSDT	−0.0087%	1h	2,726.4	+0.026%	$8.6M	$31.4M	100x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,725.7	+0.002%	$5K	$1K	50x	as long as short
Injective ETH/USDC PERP	−0.0040%	1h	2,727.6	+0.072%	$117K	$22.5M	52x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,725.8	+0.007%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,727.4	+0.065%	$816K	$3.0M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,725.9	+0.008%	$10.5M	$42.9M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,725.8	+0.006%	$6.7M	$688.7M	4.9x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,725.8	+0.005%	$262.6M	$215.2M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,725.6	−0.001%	$32.9M	—	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX ETH-USDT	+0.0010%	8h	2,724.7	−0.034%	$1.05B	$1.23B	200x	as long as short
01 Exchange ETHUSD	+0.0024%	1h	2,725.9	+0.010%	$192K	$895K	50x	as long as short
BingX ETH-USDC	+0.0027%	8h	2,724.6	−0.039%	—	$18.6M	—	as long as short
Bybit ETHUSDT	+0.0033%	8h	2,725.1	−0.021%	$2.34B	$4.41B	150x	as long as short
SoDEX ETH-USD	+0.0067%	1h	2,724.9	−0.027%	$54.3M	$187.3M	40x	as long as short
KuCoin ETHUSDTM	+0.0071%	8h	2,725.6	−0.002%	$376.0M	$577.1M	100x	as long as short
Aster ETHUSDT	+0.0082%	8h	2,725.2	−0.016%	$251.9M	$849.0M	200x	as long as short
SunX ETH-USDT	+0.0085%	8h	2,724.7	−0.034%	$954K	$11.0M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0087%	8h	2,725.2	−0.015%	$1.65B	$10.90B	100x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,722.5	−0.116%	$4.9M	$167K	20x	as long as short
Aftermath Perps ETHUSD	+0.0088%	1h	2,726.7	+0.038%	$30K	$20K	20x	as long as short
Binance ETHUSDT	+0.0090%	8h	2,725.4	−0.008%	$6.32B	$16.15B	150x	as long as short
MEXC ETH_USDT	+0.0090%	8h	2,725.3	−0.013%	$1.52B	$2.59B	500x	as long as short
Lighter ETH	+0.0096%	1h	2,726.3	+0.024%	$112.0M	$434.1M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,727.5	+0.067%	$23.4M	$103.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,725	−0.023%	$509K	$3.5M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,728.9	+0.119%	$15.3M	$8.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,724.7	−0.034%	$14.1M	$105.2M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,728.5	+0.105%	$3.10B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,726.3	+0.023%	$31.9M	$333.7M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,724.3	−0.049%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,725.7	+0.003%	$1.5M	$16.2M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,727.3	+0.060%	$162.4M	$353.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,725.5	−0.006%	$3.29B	$8.98B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,725.8	+0.007%	$2.08B	$2.78B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,725.7	+0.002%	$15.0M	$41.8M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,724.8	−0.032%	$133.4M	$324.2M	—	as long as short
edgeX ETHUSDClong	+0.0100%	4h	2,725.6	long leg	$184.8M	$681.4M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,726.7	+0.039%	$158.4M	$87.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,726	+0.013%	$21.0M	$69.6M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,726.3	+0.023%	—	$445K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,725.9	+0.010%	$11.2M	$9.5M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,724.9	−0.025%	$179K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,725.6	0.000%	$22K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,727.3	+0.061%	$40.9M	$30.3M	15x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,725.4	−0.009%	$262.7M	$64.8M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,724.5	−0.043%	$30.4M	$74.0M	50x	as long as short
Jupiter Perps ETH-PERPshort	L +0.0104% / S +0.0048%	1h	2,725.8	+0.007%	—	$30.5M	500x
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,726.4	+0.026%	$50.1M	$4.31B	50x	as long as short
RISEx ETH/USDC	+0.0115%	1h	2,725.7	+0.001%	$5.6M	$11.7M	25x	as long as short
Orderly PERP_ETH_USDC	+0.0186%	8h	2,727.6	+0.073%	$32.1M	$11.4M	100x	as long as short
Reya ETHRUSDPERP	+0.0192%	1h	2,723.8	−0.068%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0211%	1h	2,725.6	−0.003%	$82.4M	$312.4M	100x	as long as short
Hibachi ETH/USDT-P	+0.0240%	1h	2,726.2	+0.022%	$245K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0360%	8h	2,725	−0.024%	$281.6M	$175.2M	150x	as long as short