Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0019%/8h= +2.1% APRpaid last 24h +0.020%

Price spread now: Bluefin against KuCoin+0.004%7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs 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: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ETHUSDTM	2,770.2	0.0081	pay 0.0081% / 8h	7h 49m	$420.6M	$731.8M	100x
Short	Bluefin ETH-PERP	2,770.3	0.0100	get 0.0013% / 1h	49m 14s	$21K	$24K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin 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 BluefinbpOrdersPrice spread, now +0.004%Rate

Funding earned: $3.99
Price spread: +0.004% → 0.000%: $0.4
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$14.61
Costs to cover: 0.190%
Break-even: 32.6 days

Slippage unknown: KuCoin: live order book, 10 min ago; Bluefin: no order-book sample. 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 KuCoin live order book, 10 min ago	0.02 bp	6.0 bp −$6	8.1 bp −$81	10.6 bp −$1,065	doesn't fit
Sell Bluefin no order-book sample	—	—	—	—	—

Bluefin: 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
Injective ETH/USDC PERP	−0.0752%	1h	2,770.4	+0.007%	$119K	$22.5M	52x	as long as short
Perpl ETH	−0.0223%	43m	2,769.7	−0.019%	$285K	$6.6M	8.3x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,770.1	−0.003%	$5.7M	$11.9M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,770.4	+0.007%	$5K	$1K	50x	as long as short
01 Exchange ETHUSD	−0.0032%	1h	2,770	−0.007%	$168K	$1.2M	50x	as long as short
Phoenix ETH	−0.0003%	1h	2,772.4	+0.079%	$878K	$3.7M	25x	as long as short
Phemex ETHUSDT	−0.0003%	8h	2,770.5	+0.009%	$269.8M	$68.0M	150x	as long as short
dYdX ETH-USD	0.0000%	1h	2,770	−0.007%	$12.7M	$45.8M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,770.8	+0.022%	$8.2M	$689.2M	4.9x	as long as short
ApeX Omni ETHUSDT	0.0000%	1h	2,767.7	−0.089%	$8.7M	$32.8M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,770.5	+0.011%	$22.4M	—	200x	as long as short
Bullet ETH-USD	+0.0010%	1h	2,769.8	−0.014%	$183K	$1.7M	20x	as long as short
SoDEX ETH-USD	+0.0018%	1h	2,770.7	+0.018%	$55.2M	$228.8M	40x	as long as short
OKX ETH-USDT-SWAP	+0.0020%	8h	2,770.2	−0.002%	$1.71B	$11.72B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0025% / S +0.0009%	1h	2,770.4	+0.006%	$12.8M	—	200x	as long as short
Aftermath Perps ETHUSD	+0.0037%	1h	2,771	+0.028%	$31K	$24K	20x	as long as short
Aster ETHUSDT	+0.0039%	8h	2,770.1	−0.005%	$256.5M	$966.2M	200x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,771.3	+0.038%	$5.0M	$165K	20x	as long as short
Binance ETHUSDT	+0.0058%	8h	2,770.1	−0.004%	$6.47B	$17.08B	150x	as long as short
MEXC ETH_USDT	+0.0058%	8h	2,769.7	−0.017%	$1.62B	$2.62B	500x	as long as short
HTX ETH-USDT	+0.0063%	8h	2,770.3	+0.004%	$1.08B	$1.31B	200x	as long as short
BingX ETH-USDC	+0.0066%	8h	2,769.4	−0.028%	—	$17.5M	—	as long as short
Bitget ETHUSDT	+0.0067%	8h	2,770.9	+0.023%	$2.10B	$3.04B	150x	as long as short
Gate ETH_USDT	+0.0075%	8h	2,770	−0.009%	$3.30B	$8.92B	200x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,771.4	+0.042%	$60.5M	$4.55B	50x	as long as short
KuCoin ETHUSDTMlong	+0.0081%	8h	2,770.2	long leg	$420.6M	$731.8M	100x
Vest ETH-PERP	+0.0089%	1h	2,769.9	−0.012%	—	$1.1M	50x	as long as short
Lighter ETH	+0.0096%	1h	2,770.7	+0.017%	$115.2M	$456.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,772	+0.064%	$25.2M	$109.9M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,769.6	−0.022%	$15.9M	$9.7M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,769.8	−0.014%	$487K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,769.4	−0.028%	$14.5M	$117.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,772	+0.065%	$3.17B	$2.30B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,770.4	+0.009%	$31.2M	$322.6M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,770.3	+0.004%	$2.51B	$4.57B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,769.2	−0.036%	$2.8M	$17.2M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,770.7	+0.017%	$2.8M	$17.3M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,770.5	+0.012%	$170.6M	$266.1M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,768.7	−0.054%	$15.2M	$43.0M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,768.8	−0.050%	$151.4M	$343.1M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,771.1	+0.032%	$181.9M	$785.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,772.6	+0.086%	$161.3M	$87.3M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,769.8	−0.014%	$21.4M	$59.0M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,769.8	−0.014%	$10.6M	$8.1M	50x	as long as short
Bluefin ETH-PERPshort	+0.0100%	1h	2,770.3	+0.004%	$21K	$24K	25x
Derive ETH-PERP	+0.0100%	1h	2,772.7	+0.091%	$42.6M	$29.3M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,769.5	−0.027%	$972K	$13.7M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,770.2	+0.001%	$32.5M	$77.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,770.6	+0.014%	—	$41.7M	500x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,772.1	+0.069%	$93.4M	$331.4M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0147%	8h	2,773.2	+0.108%	$32.6M	$12.0M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0158%	1h	2,772.3	+0.074%	$259.1M	$216.6M	50x	as long as short
Hibachi ETH/USDT-P	+0.0168%	1h	2,771	+0.030%	$252K	$1.5M	20x	as long as short
BloFin ETH-USDT	+0.0178%	8h	2,770.7	+0.018%	$287.6M	$191.4M	150x	as long as short
Reya ETHRUSDPERP	+0.0208%	1h	2,769.7	−0.017%	$7.3M	$1.2M	25x	as long as short