Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0017%/8h= −1.9% APRpaid last 24h −0.001%

Price spread now: KuCoin against Jupiter Perps+0.117%7-day average −0.015% · you sell dearer than you buy

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

Long on Jupiter Perps Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.049%−$5 on $10k

Price spread, last 3 days (all we have)−0.150%−$15 · spread now +0.117%, 7d avg −0.015%

Together, before fees−0.199%−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.132% dearer against Jupiter Perps than usual: you sell high and buy low (spread +0.117% now, against its 7-day average of −0.015%): +$13 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 26 days. At the pace of the last 3 days (−0.049% in total) that is about 8.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Jupiter Perps ETH-PERP	2,749.1	L +0.0096% / S +0.0056%	pay 0.0012% / 1h	44m 07s	—	$35.6M	500x
Short	KuCoin ETHUSDTM	2,752.3	0.0079	get 0.0079% / 8h	6h 44m	$383.1M	$606.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Jupiter Perps. 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 Jupiter PerpsbpFee KuCoinbpOrdersPrice spread, now +0.117%Rate

Funding earned: −$3.57
Price spread: +0.117% → −0.015%: $13.19
Slippage, 4 orders: no order book: not counted
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$14.38
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Jupiter Perps: no order-book sample; KuCoin: live order book, 10 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 Jupiter Perps no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 10 min ago	0.02 bp	6.9 bp −$7	9.5 bp −$95	11.6 bp −$1,156	doesn't fit

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	−0.0447%	43m	2,750.7	+0.058%	$314K	$6.1M	8.3x	as long as short
ApeX Omni ETHUSDT	−0.0149%	1h	2,751	+0.067%	$8.8M	$31.6M	100x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,749.8	+0.025%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,750.3	+0.044%	$5.5M	$11.3M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,751.9	+0.102%	$12.0M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,749.7	+0.021%	$863K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,750.1	+0.037%	$10.9M	$41.9M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,752.7	+0.130%	$22.2M	—	200x	as long as short
01 Exchange ETHUSD	+0.0008%	1h	2,751.4	+0.083%	$181K	$1.1M	50x	as long as short
BingX ETH-USDC	+0.0028%	8h	2,751.5	+0.087%	—	$17.4M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0037%	8h	2,752	+0.106%	$1.69B	$11.11B	100x	as long as short
Aster ETHUSDT	+0.0054%	8h	2,751.1	+0.072%	$255.9M	$857.0M	200x	as long as short
Deribit ETH-PERPETUAL	+0.0055%	1h	2,753.9	+0.173%	$258.4M	$202.7M	50x	as long as short
HTX ETH-USDT	+0.0058%	8h	2,752	+0.105%	$1.07B	$1.22B	200x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,750.2	+0.038%	$4.9M	$168K	20x	as long as short
MEXC ETH_USDT	+0.0065%	8h	2,752.5	+0.124%	$1.58B	$2.53B	500x	as long as short
Binance ETHUSDT	+0.0065%	8h	2,752.5	+0.124%	$6.36B	$16.32B	150x	as long as short
Gate ETH_USDT	+0.0068%	8h	2,752.5	+0.122%	$3.37B	$8.76B	200x	as long as short
KuCoin ETHUSDTMshort	+0.0079%	8h	2,752.3	+0.117%	$383.1M	$606.6M	100x
Bitget ETHUSDT	+0.0085%	8h	2,752.1	+0.108%	$2.07B	$2.86B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,753.9	+0.172%	$59.6M	$4.40B	50x	as long as short
Lighter ETH	+0.0096%	1h	2,752.9	+0.137%	$113.3M	$439.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,754.5	+0.195%	$25.0M	$106.1M	50x	as long as short
Jupiter Perps ETH-PERPlong	L +0.0096% / S +0.0056%	1h	2,749.1	long leg	—	$35.6M	500x
Aftermath Perps ETHUSD	+0.0098%	1h	2,751	+0.069%	$30K	$21K	20x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,752.2	+0.111%	$15.9M	$8.2M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,749.9	+0.028%	$469K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,751.3	+0.080%	$14.0M	$113.4M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,754.7	+0.203%	$3.13B	$2.14B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,750	+0.032%	$31.6M	$333.7M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,752.4	+0.120%	$2.47B	$4.36B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,749	−0.005%	$2.8M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,750.7	+0.058%	$2.8M	$16.8M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,751.4	+0.082%	$167.5M	$300.9M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,752.2	+0.111%	$15.0M	$42.3M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,750	+0.031%	$133.2M	$346.7M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,750.8	+0.062%	$184.4M	$736.1M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,753.1	+0.145%	$160.1M	$82.7M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,749	−0.005%	$21.3M	$66.6M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,751.2	+0.074%	—	$871K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,750.4	+0.046%	$10.4M	$8.0M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,751.4	+0.083%	$184K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,752.8	+0.133%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,754.6	+0.200%	$42.0M	$28.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,748.8	−0.012%	$964K	$12.6M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,752.8	+0.134%	$54.8M	$187.6M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,752.7	+0.130%	$267.8M	$66.3M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,752.3	+0.117%	$30.9M	$74.9M	50x	as long as short
Kalshi KXETHPERP	+0.0135%	8h	2,750.6	+0.054%	$7.7M	$674.1M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0162%	8h	2,755.2	+0.220%	$32.4M	$11.3M	100x	as long as short
Hibachi ETH/USDT-P	+0.0176%	1h	2,749.1	0.000%	$250K	$1.5M	20x	as long as short
BloFin ETH-USDT	+0.0180%	8h	2,752.8	+0.135%	$285.0M	$179.1M	150x	as long as short
Injective ETH/USDC PERP	+0.0209%	1h	2,747.6	−0.055%	$118K	$22.5M	52x	as long as short
Reya ETHRUSDPERP	+0.0218%	1h	2,750	+0.030%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0353%	1h	2,753.8	+0.168%	$93.0M	$316.0M	100x	as long as short