Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0023%/8h= −2.5% APRpaid last 24h −0.002%

Price spread now: KuCoin against edgeX−0.202%98s7-day average +0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$250.249% of the position

Long on edgeX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.126%−$13 on $10k

Price spread, last 7 days+0.223%+$22 · spread now −0.202%, 7d avg +0.032%

Together, before fees+0.097%+ Points / potential airdropedgeX: Active · farm board+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and KuCoin is 0.234% cheaper against edgeX than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of +0.032%). Swap the legs. The two prices were read 98 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	2,750.8	0.0100	pay 0.0050% / 4h	2h 41m	$184.4M	$736.1M	100x
Short	KuCoin ETHUSDTM	2,745.3	0.0077	get 0.0077% / 8h	6h 41m	$381.5M	$607.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against edgeX. 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 edgeXbpFee KuCoinbpOrdersPrice spread, now −0.202%Rate

Funding earned: −$4.83
Price spread: −0.202% → +0.032%: −$23.37
Slippage, 4 orders: −$3.89
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$53.09
Costs to cover: 0.249%
Break-even: never at this rate

Slippage from edgeX: live order book, 2 min ago; KuCoin: live order book, 2 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 edgeX live order book, 2 min ago	0.05 bp	4.6 bp −$5	4.6 bp −$46	4.9 bp −$487	6.4 bp −$3,183
Sell KuCoin live order book, 2 min ago	0.02 bp	7.3 bp −$7	9.0 bp −$90	11.6 bp −$1,155	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	2,746.1	−0.171%	$313K	$6.1M	8.3x	as long as short
ApeX Omni ETHUSDT	−0.0149%	1h	2,751	+0.005%	$8.8M	$31.6M	100x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,745.8	−0.183%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,745.4	−0.198%	$5.5M	$11.3M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,744.4	−0.232%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,749.7	−0.041%	$864K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,746.6	−0.154%	$10.8M	$42.0M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,744.5	−0.230%	$22.2M	—	200x	as long as short
01 Exchange ETHUSD	+0.0008%	1h	2,745.6	−0.190%	$180K	$1.1M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0020%	1h	2,745.6	−0.191%	$258.4M	$202.2M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDT	+0.0028%	8h	2,744.7	−0.222%	—	$1.20B	—	as long as short
OKX ETH-USDT-SWAP	+0.0037%	8h	2,745	−0.213%	$1.68B	$11.10B	100x	as long as short
HTX ETH-USDT	+0.0056%	8h	2,743.8	−0.254%	$1.06B	$1.23B	200x	as long as short
Aster ETHUSDT	+0.0057%	8h	2,744.7	−0.222%	$255.5M	$857.2M	200x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,741.9	−0.325%	$4.9M	$168K	20x	as long as short
MEXC ETH_USDT	+0.0066%	8h	2,745.5	−0.194%	$1.57B	$2.54B	500x	as long as short
Binance ETHUSDT	+0.0067%	8h	2,745.1	−0.207%	$6.34B	$16.34B	150x	as long as short
Gate ETH_USDT	+0.0074%	8h	2,745.7	−0.187%	$3.35B	$8.78B	200x	as long as short
KuCoin ETHUSDTMshort	+0.0077%	8h	2,745.3	−0.202%	$381.5M	$607.9M	100x
Bitget ETHUSDT	+0.0086%	8h	2,744.6	−0.226%	$2.07B	$2.87B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,745.2	−0.205%	$59.2M	$4.39B	50x	as long as short
Lighter ETH	+0.0096%	1h	2,744.9	−0.217%	$113.1M	$440.1M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,746.2	−0.168%	$25.0M	$106.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,746	−0.177%	—	$35.6M	500x	as long as short
Aftermath Perps ETHUSD	+0.0099%	1h	2,750.2	−0.024%	$30K	$21K	20x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,748.9	−0.070%	$15.9M	$8.2M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,744.4	−0.234%	$467K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,745.3	−0.202%	$14.0M	$113.4M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,747.4	−0.125%	$3.12B	$2.15B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,746	−0.175%	$31.5M	$333.7M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,744.9	−0.217%	$2.46B	$4.37B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,744.8	−0.219%	$2.8M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,746	−0.176%	$2.8M	$16.8M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,751.4	+0.020%	$167.5M	$300.9M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,744.2	−0.241%	$14.9M	$41.3M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,750	−0.030%	$133.2M	$346.7M	—	as long as short
edgeX ETHUSDClong	+0.0100%	4h	2,750.8	long leg	$184.4M	$736.1M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,748.2	−0.097%	$159.8M	$83.1M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,751.1	+0.010%	$21.3M	$66.7M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,747	−0.138%	—	$871K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,745.4	−0.197%	$10.3M	$8.0M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,743.8	−0.255%	$182K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,744.1	−0.243%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,745.9	−0.180%	$41.9M	$28.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,744	−0.249%	$962K	$12.6M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,744.5	−0.230%	$54.7M	$187.6M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,744.5	−0.230%	$267.0M	$66.3M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,744.3	−0.238%	$30.9M	$74.8M	50x	as long as short
Kalshi KXETHPERP	+0.0136%	8h	2,745.8	−0.183%	$7.8M	$674.1M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0163%	8h	2,746.7	−0.152%	$32.3M	$11.3M	100x	as long as short
Hibachi ETH/USDT-P	+0.0176%	1h	2,751.9	+0.038%	$250K	$1.5M	20x	as long as short
BloFin ETH-USDT	+0.0180%	8h	2,752.8	+0.073%	$285.0M	$179.1M	150x	as long as short
Injective ETH/USDC PERP	+0.0209%	1h	2,751.8	+0.035%	$118K	$22.5M	52x	as long as short
Reya ETHRUSDPERP	+0.0218%	1h	2,745.4	−0.197%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0354%	1h	2,745.2	−0.205%	$92.7M	$316.2M	100x	as long as short