Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h +0.032%

Price spread now: Arcus against Gate−0.029%7-day average +0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$210.211% of the position

Long on Gate Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.066%+$7 on $10k

Price spread, last 7 days+0.040%+$4 · spread now −0.029%, 7d avg +0.029%

Together, before fees+0.106%+$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Arcus is 0.058% cheaper against Gate than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ETH_USDT	2,751.3	0.0099	pay 0.0099% / 8h	6h 28m	$3.39B	$8.87B	200x
Short	Arcus ETH-USD	2,750.5	0.0100	get 0.0013% / 1h	28m 18s	$2.8M	$16.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Gate. 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 GatebpFee ArcusbpOrdersPrice spread, now −0.029%Rate

Funding earned: $0.21
Price spread: −0.029% → +0.029%: −$5.79
Slippage, 4 orders: −$1.62
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$26.7
Costs to cover: 0.211%
Break-even: 897.1 days

Slippage from Gate: live order book, 6 min ago; Arcus: live order book, 1 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 Gate live order book, 6 min ago	0.02 bp	7.5 bp −$8	8.2 bp −$82	12.0 bp −$1,204	21.9 bp −$10.9K
Sell Arcus live order book, 1 min ago	0.25 bp	3.2 bp −$3	3.9 bp −$39	5.0 bp −$500	doesn't fit

ETH on 54 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	2,750.1	−0.040%	$310K	$6.0M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,748.2	−0.111%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,750	−0.047%	$5.6M	$11.3M	25x	as long as short
ApeX Omni ETHUSDT	−0.0014%	1h	2,748.2	−0.110%	$8.7M	$31.6M	100x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,750.8	−0.016%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,749.4	−0.067%	$848K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,749.2	−0.074%	$10.8M	$41.9M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,751.3	+0.003%	$22.2M	—	200x	as long as short
01 Exchange ETHUSD	+0.0016%	1h	2,749.6	−0.060%	$181K	$1.1M	50x	as long as short
BingX ETH-USDT	+0.0033%	8h	2,751.2	−0.004%	—	$1.19B	—	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0045%	8h	2,751.8	+0.019%	$1.69B	$11.01B	100x	as long as short
HTX ETH-USDT	+0.0047%	8h	2,746.5	−0.172%	$1.07B	$1.21B	200x	as long as short
Aster ETHUSDT	+0.0066%	8h	2,749.9	−0.050%	$253.0M	$857.6M	200x	as long as short
Aevo ETH-PERP	+0.0072%	1h	2,749	−0.082%	$4.9M	$168K	20x	as long as short
MEXC ETH_USDT	+0.0073%	8h	2,749.3	−0.070%	$1.57B	$2.56B	500x	as long as short
KuCoin ETHUSDTM	+0.0073%	8h	2,748.9	−0.087%	$381.8M	$605.7M	100x	as long as short
Binance ETHUSDT	+0.0076%	8h	2,751	−0.008%	$6.36B	$16.21B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,748	−0.119%	$59.0M	$4.37B	50x	as long as short
Bitget ETHUSDT	+0.0092%	8h	2,751.8	+0.019%	$2.08B	$2.85B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,749.5	−0.063%	$113.0M	$442.5M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,750.9	−0.012%	$24.9M	$107.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,750	−0.046%	—	$35.4M	500x	as long as short
Gate ETH_USDTlong	+0.0099%	8h	2,751.3	long leg	$3.39B	$8.87B	200x
Paradex ETH-USD-PERP	+0.0099%	8h	2,754.2	+0.106%	$15.9M	$8.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,748.8	−0.089%	$468K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,748.7	−0.094%	$14.0M	$112.9M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,751.4	+0.005%	$3.13B	$2.12B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,750	−0.045%	$31.5M	$333.9M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,751.5	+0.009%	$2.46B	$4.33B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,748.8	−0.089%	$2.8M	$16.6M	25x	as long as short
Arcus ETH-USDshort	+0.0100%	1h	2,750.5	−0.029%	$2.8M	$16.5M	25x
Backpack ETH_USDC_PERP	+0.0100%	1h	2,747.1	−0.152%	$15.1M	$41.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,747.4	−0.139%	$133.1M	$346.1M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,747.9	−0.123%	$181.7M	$730.1M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,745.8	−0.198%	$159.7M	$84.5M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,750	−0.045%	$21.3M	$67.8M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,750.2	−0.038%	—	$869K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,749.8	−0.053%	$10.7M	$8.6M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,750.2	−0.038%	$182K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,751.6	+0.013%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,753.1	+0.068%	$41.8M	$29.3M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,749.6	−0.061%	$963K	$12.4M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,751.6	+0.013%	$54.8M	$187.6M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,747.1	−0.151%	$267.0M	$66.0M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,743.9	−0.266%	$165.5M	$306.7M	25x	as long as short
Aftermath Perps ETHUSD	+0.0104%	1h	2,748.3	−0.109%	$30K	$20K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,751	−0.009%	$30.5M	$74.1M	50x	as long as short
Kalshi KXETHPERP	+0.0139%	8h	2,750.8	−0.016%	$7.7M	$674.4M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0169%	8h	2,753.8	+0.092%	$32.4M	$11.1M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0190%	1h	2,753	+0.064%	$258.5M	$200.2M	50x	as long as short
Hibachi ETH/USDT-P	+0.0200%	1h	2,749.7	−0.058%	$250K	$1.5M	20x	as long as short
Injective ETH/USDC PERP	+0.0209%	1h	2,747.9	−0.122%	$118K	$22.5M	52x	as long as short
Reya ETHRUSDPERP	+0.0220%	1h	2,749.1	−0.080%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0353%	1h	2,752.6	+0.047%	$90.0M	$316.4M	100x	as long as short