Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0115%/8h= +12.6% APRpaid last 24h +0.044%

Price spread now: BingX against Hotstuff−0.005%7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on BingX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff ETH-PERP	2,729.6	−0.0080	get 0.0010% / 1h	20m 20s	$5K	$1K	50x
Short	BingX ETH-USDT	2,729.5	0.0035	get 0.0035% / 8h	2h 20m	—	$1.13B	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Hotstuff. 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 HotstuffbpFee BingXbpOrdersPrice spread, now −0.005%Rate

Funding earned: $24.15
Price spread: −0.005% → 0.000%: −$0.48
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: $8.67
Costs to cover: 0.150%
Break-even: 4.5 days

Slippage unknown: Hotstuff: no order-book sample; BingX: live order book, 4 min ago. 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 Hotstuff no order-book sample	—	—	—	—	—
Sell BingX live order book, 4 min ago	0.05 bp	5.1 bp −$5	5.1 bp −$51	5.1 bp −$505	5.9 bp −$2,933

Hotstuff: 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	−0.0447%	43m	2,728	−0.060%	$281K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERPlong	−0.0080%	1h	2,729.6	long leg	$5K	$1K	50x
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,729.5	−0.005%	$12.0M	—	200x	as long as short
Phoenix ETH	−0.0009%	1h	2,720	−0.352%	$814K	$3.0M	25x	as long as short
HTX ETH-USDT	−0.0008%	8h	2,724.7	−0.180%	$1.05B	$1.22B	200x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,729.7	+0.003%	$32.8M	—	200x	as long as short
dYdX ETH-USD	+0.0007%	1h	2,729	−0.021%	$10.4M	$42.6M	50x	as long as short
Injective ETH/USDC PERP	+0.0009%	1h	2,717.1	−0.458%	$117K	$22.5M	52x	as long as short
BingX ETH-USDTshort	+0.0035%	8h	2,729.5	−0.005%	—	$1.13B	—
01 Exchange ETHUSD	+0.0040%	1h	2,729.4	−0.007%	$192K	$831K	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0043%	8h	2,729.3	−0.013%	$2.35B	$4.40B	150x	as long as short
SunX ETH-USDT	+0.0071%	8h	2,725.7	−0.144%	$957K	$11.1M	100x	as long as short
Bullet ETH-USD	+0.0076%	1h	2,729	−0.022%	$181K	$1.7M	20x	as long as short
KuCoin ETHUSDTM	+0.0077%	8h	2,729.1	−0.020%	$374.4M	$577.3M	100x	as long as short
Aster ETHUSDT	+0.0087%	8h	2,729.1	−0.018%	$252.5M	$845.7M	200x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,722.7	−0.254%	$4.9M	$155K	20x	as long as short
Aftermath Perps ETHUSD	+0.0089%	1h	2,722.9	−0.245%	$30K	$20K	20x	as long as short
MEXC ETH_USDT	+0.0092%	8h	2,729.1	−0.019%	$1.54B	$2.59B	500x	as long as short
Binance ETHUSDT	+0.0092%	8h	2,729.6	−0.001%	$6.32B	$16.10B	150x	as long as short
Phemex ETHUSDT	+0.0093%	8h	2,725	−0.167%	$262.6M	$64.9M	150x	as long as short
Lighter ETH	+0.0096%	1h	2,729.6	+0.001%	$112.3M	$435.0M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,730.8	+0.045%	$23.5M	$103.9M	50x	as long as short
OKX ETH-USDT-SWAP	+0.0096%	8h	2,729.5	−0.005%	$1.67B	$10.86B	100x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,720.3	−0.340%	$8.6M	$31.4M	100x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,729.1	−0.018%	$504K	$3.5M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,732.4	+0.102%	$15.1M	$8.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,728.9	−0.027%	$14.1M	$105.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,730.9	+0.048%	$3.09B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,729.8	+0.006%	$32.0M	$333.8M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,728.6	−0.037%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,729.8	+0.009%	$1.5M	$16.2M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,722.5	−0.260%	$160.0M	$319.3M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,729.5	−0.004%	$3.30B	$9.01B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,728.9	−0.027%	$2.09B	$2.78B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,724.9	−0.171%	$14.9M	$42.2M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,724.5	−0.187%	$133.3M	$327.5M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,720	−0.350%	$184.3M	$677.8M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,720.5	−0.334%	$158.2M	$86.9M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,726.3	−0.121%	$21.0M	$70.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,729.7	+0.003%	—	$875K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,730.2	+0.022%	$11.2M	$9.5M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,729.6	0.000%	$22K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,726.4	−0.119%	$40.9M	$30.2M	15x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,724.8	−0.176%	$54.3M	$187.7M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,728.4	−0.044%	$30.4M	$74.2M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,729.3	−0.013%	—	$31.3M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,726.2	−0.125%	$49.7M	$4.30B	50x	as long as short
RISEx ETH/USDC	+0.0108%	1h	2,729.7	+0.005%	$5.6M	$11.8M	25x	as long as short
Deribit ETH-PERPETUAL	+0.0124%	1h	2,725.9	−0.137%	$259.3M	$207.9M	50x	as long as short
Kalshi KXETHPERP	+0.0149%	8h	2,726	−0.132%	$6.8M	$692.5M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0176%	1h	2,725.3	−0.156%	$82.9M	$311.6M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0188%	8h	2,731.6	+0.072%	$32.1M	$11.5M	100x	as long as short
Reya ETHRUSDPERP	+0.0199%	1h	2,728.2	−0.053%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0264%	1h	2,724.9	−0.173%	$249K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0369%	8h	2,725	−0.167%	$280.9M	$174.3M	150x	as long as short