Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: edgeX against Katana Perps+0.046%7-day average +0.006% · you sell dearer than you buy

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

Long on Katana Perps Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.005%+$1 on $10k

Price spread, last 7 days−0.025%−$2 · spread now +0.046%, 7d avg +0.006%

Together, before fees−0.020%+ Points / potential airdropedgeX: Active · farm board−$2 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: edgeX is 0.040% dearer against Katana Perps than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps ETH-USD	2,769.3	0.0100	pay 0.0100% / 8h	1h 58m	$481K	$2.7M	50x
Short	edgeX ETHUSDC	2,770.6	0.0100	get 0.0050% / 4h	1h 58m	$179.5M	$783.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Katana 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 Katana PerpsbpFee edgeXbpOrdersPrice spread, now +0.046%Rate

Funding earned: $0.04
Price spread: +0.046% → +0.006%: $3.98
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$8.77
Costs to cover: 0.128%
Break-even: 1399.3 days

Slippage unknown: Katana Perps: no order-book sample; edgeX: live order book, 5 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 Katana Perps no order-book sample	—	—	—	—	—
Sell edgeX live order book, 5 min ago	0.02 bp	4.9 bp −$5	4.9 bp −$49	5.0 bp −$501	5.8 bp −$2,910

Katana 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
Nado ETH-PERP	−0.0243%	1h	2,770.3	+0.036%	$14.3M	$118.9M	50x	as long as short
Perpl ETH	−0.0112%	43m	2,769.5	+0.006%	$290K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,769	−0.011%	$5.8M	$12.1M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,768	−0.047%	$5K	$2K	50x	as long as short
01 Exchange ETHUSD	−0.0064%	1h	2,770	+0.025%	$169K	$1.2M	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,769.5	+0.007%	$119K	$22.5M	52x	as long as short
Phoenix ETH	−0.0023%	1h	2,770.5	+0.043%	$884K	$3.6M	25x	as long as short
Aftermath Perps ETHUSD	−0.0002%	1h	2,771	+0.061%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,768.5	−0.030%	$12.7M	$45.5M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,771.2	+0.068%	$22.4M	—	200x	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	+0.0017%	8h	2,769.3	−0.001%	—	$1.19B	—	as long as short
OKX ETH-USDT-SWAP	+0.0023%	8h	2,769	−0.010%	$1.71B	$11.86B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,771	+0.061%	$13.2M	—	200x	as long as short
Aster ETHUSDT	+0.0032%	8h	2,769.4	+0.002%	$256.1M	$995.5M	200x	as long as short
ApeX Omni ETHUSDT	+0.0034%	1h	2,770.6	+0.047%	$8.7M	$32.6M	100x	as long as short
Phemex ETHUSDT	+0.0037%	8h	2,771.3	+0.072%	$267.0M	$66.0M	150x	as long as short
Aevo ETH-PERP	+0.0048%	1h	2,768.1	−0.043%	$5.0M	$636K	20x	as long as short
MEXC ETH_USDT	+0.0052%	8h	2,769.3	+0.001%	$1.59B	$2.62B	500x	as long as short
Binance ETHUSDT	+0.0053%	8h	2,769.5	+0.006%	$6.43B	$17.23B	150x	as long as short
Bullet ETH-USD	+0.0059%	1h	2,770.2	+0.032%	$183K	$1.8M	20x	as long as short
Bitget ETHUSDT	+0.0074%	8h	2,768.9	−0.014%	$2.10B	$3.12B	150x	as long as short
Gate ETH_USDT	+0.0077%	8h	2,769.2	−0.002%	$3.28B	$9.52B	200x	as long as short
HTX ETH-USDT	+0.0095%	8h	2,770.2	+0.032%	$1.08B	$1.32B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,770.9	+0.057%	$114.7M	$493.8M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,772.4	+0.111%	$25.4M	$120.4M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,769.5	+0.008%	—	$41.8M	500x	as long as short
Variational Omni ETH	+0.0099%	8h	2,770.9	+0.057%	$140.8M	$321.1M	—	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,767.2	−0.077%	$15.9M	$10.8M	50x	as long as short
Katana Perps ETH-USDlong	+0.0100%	8h	2,769.3	long leg	$481K	$2.7M	50x
Hyperliquid ETH	+0.0100%	1h	2,772.9	+0.130%	$3.19B	$2.40B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,767.9	−0.050%	$31.2M	$293.6M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,769.2	−0.005%	$2.51B	$4.63B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,768.1	−0.043%	$2.8M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,770.4	+0.040%	$2.8M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,771	+0.060%	$164.2M	$249.6M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,769.4	+0.003%	$422.1M	$742.1M	100x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,771.4	+0.075%	$15.2M	$43.0M	50x	as long as short
edgeX ETHUSDCshort	+0.0100%	4h	2,770.6	+0.046%	$179.5M	$783.0M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,771.5	+0.079%	$161.2M	$96.5M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,772.1	+0.101%	$21.4M	$57.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,770.1	+0.030%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,771.8	+0.090%	$10.8M	$7.7M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,771	+0.060%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,772.5	+0.114%	$42.6M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,767.9	−0.051%	$971K	$14.1M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,770.3	+0.036%	$55.2M	$228.6M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,768.4	−0.033%	$31.5M	$75.4M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0104%	1h	2,771.8	+0.090%	$258.4M	$225.3M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,771.6	+0.083%	$59.9M	$4.62B	50x	as long as short
Kalshi KXETHPERP	+0.0108%	8h	2,771.5	+0.079%	$8.5M	$673.6M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0137%	8h	2,773.1	+0.136%	$32.5M	$12.1M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0170%	1h	2,770.5	+0.045%	$86.0M	$331.8M	100x	as long as short
BloFin ETH-USDT	+0.0173%	8h	2,771	+0.060%	$285.9M	$195.0M	150x	as long as short
Reya ETHRUSDPERP	+0.0186%	1h	2,770.5	+0.043%	$7.3M	$1.1M	25x	as long as short
Hibachi ETH/USDT-P	+0.0472%	1h	2,771.3	+0.074%	$280K	$1.5M	20x	as long as short