Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h −0.005%

Price spread now: Aevo against KuCoin−0.106%7-day average −0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$450.454% of the position

Long on KuCoin Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)+0.004%$0 · spread now −0.106%, 7d avg −0.060%

Together, before fees+0.013%+$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aevo is 0.046% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.106% now, against its 7-day average of −0.060%). If the spread goes back, that is −$5 on $10k: about 4.8 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.009% in total) that is about 35 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ETHUSDTM	2,733	0.0064	pay 0.0064% / 8h	4h 20m	$380.3M	$574.5M	100x
Short	Aevo ETH-PERP	2,730.1	0.0096	get 0.0012% / 1h	20m 04s	$4.9M	$155K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against KuCoin. 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 KuCoinbpFee AevobpOrdersPrice spread, now −0.106%Rate

Funding earned: $6.72
Price spread: −0.106% → −0.060%: −$4.59
Slippage, 4 orders: −$17.38
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$43.25
Costs to cover: 0.454%
Break-even: 52.1 days

Slippage from KuCoin: live order book, 4 min ago; Aevo: live order book, 4 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 KuCoin live order book, 4 min ago	0.02 bp	6.6 bp −$7	7.6 bp −$76	10.1 bp −$1,006	doesn't fit
Sell Aevo live order book, 4 min ago	4.57 bp	19.4 bp −$19	30.4 bp −$304	49.3 bp −$4,930	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	2,733.5	+0.015%	$297K	$5.6M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,734.2	+0.043%	$117K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,732.8	−0.008%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,733	0.000%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,733	−0.002%	$10.8M	$41.6M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,733	−0.001%	$187K	$823K	50x	as long as short
Phoenix ETH	0.0000%	1h	2,735	+0.072%	$830K	$2.9M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,733.1	+0.001%	$28.1M	—	200x	as long as short
Bullet ETH-USD	+0.0009%	1h	2,732.5	−0.019%	$179K	$1.7M	20x	as long as short
ApeX Omni ETHUSDT	+0.0043%	1h	2,735	+0.070%	$8.7M	$31.3M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX ETH-USDT	+0.0044%	8h	2,731.5	−0.057%	$1.06B	$1.20B	200x	as long as short
BingX ETH-USDT	+0.0052%	8h	2,732.4	−0.024%	—	$1.15B	—	as long as short
Bybit ETHUSDT	+0.0061%	8h	2,732.5	−0.018%	$2.38B	$4.35B	150x	as long as short
KuCoin ETHUSDTMlong	+0.0064%	8h	2,733	long leg	$380.3M	$574.5M	100x
OKX ETH-USDT-SWAP	+0.0071%	8h	2,733.1	+0.001%	$1.67B	$10.71B	100x	as long as short
Phemex ETHUSDT	+0.0072%	8h	2,732.7	−0.012%	$265.7M	$65.3M	150x	as long as short
Aster ETHUSDT	+0.0086%	8h	2,732.6	−0.016%	$250.9M	$842.5M	200x	as long as short
SoDEX ETH-USD	+0.0091%	1h	2,732.7	−0.012%	$54.4M	$187.6M	40x	as long as short
Binance ETHUSDT	+0.0095%	8h	2,732.7	−0.012%	$6.35B	$15.87B	150x	as long as short
MEXC ETH_USDT	+0.0095%	8h	2,732.4	−0.022%	$1.55B	$2.56B	500x	as long as short
Lighter ETH	+0.0096%	1h	2,733	−0.001%	$112.8M	$440.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,734.2	+0.042%	$23.4M	$106.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,732.7	−0.012%	—	$30.9M	500x	as long as short
Aevo ETH-PERPshort	+0.0096%	1h	2,730.1	−0.106%	$4.9M	$155K	20x
Paradex ETH-USD-PERP	+0.0099%	8h	2,737.6	+0.166%	$15.5M	$8.0M	50x	as long as short
RISEx ETH/USDC	+0.0099%	1h	2,734.1	+0.040%	$5.5M	$11.6M	25x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,732.6	−0.016%	$500K	$3.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,733.5	+0.018%	$13.7M	$104.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,734.7	+0.061%	$3.10B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,734.4	+0.050%	$31.9M	$334.7M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,732.6	−0.016%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,734.1	+0.041%	$1.6M	$16.2M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,732.5	−0.020%	$3.34B	$8.91B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,732.9	−0.004%	$2.07B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,732	−0.036%	$15.0M	$39.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,731.5	−0.057%	$133.7M	$325.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,734.1	+0.040%	$183.9M	$671.3M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,734.9	+0.067%	$159.1M	$86.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,734.3	+0.046%	$21.1M	$68.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,733.5	+0.016%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,734.2	+0.043%	$11.2M	$9.2M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,733.2	+0.005%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,734.3	+0.046%	$41.3M	$29.8M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,732.5	−0.018%	$959K	$11.3M	100x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,734.8	+0.066%	$164.8M	$300.4M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,732	−0.039%	$30.3M	$72.6M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,733.7	+0.026%	$51.3M	$4.27B	50x	as long as short
Aftermath Perps ETHUSD	+0.0114%	1h	2,734.4	+0.050%	$30K	$20K	20x	as long as short
Deribit ETH-PERPETUAL	+0.0131%	1h	2,734	+0.037%	$259.7M	$196.2M	50x	as long as short
Kalshi KXETHPERP	+0.0139%	8h	2,733.1	+0.003%	$6.8M	$678.5M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0194%	8h	2,734.9	+0.068%	$32.2M	$11.6M	100x	as long as short
Reya ETHRUSDPERP	+0.0219%	1h	2,731.7	−0.048%	$7.3M	$1.2M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0222%	1h	2,733.3	+0.010%	$83.3M	$314.7M	100x	as long as short
Hibachi ETH/USDT-P	+0.0264%	1h	2,735.3	+0.082%	$253K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0381%	8h	2,732.1	−0.033%	$282.3M	$175.5M	150x	as long as short