Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0145%/8h= −15.9% APRpaid last 24h −0.052%

Price spread now: Hotstuff against KuCoin+0.033%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 Hotstuff

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 pays, funding is against you. Hotstuff is 0.033% dearer against KuCoin than usual: you sell high and buy low (spread +0.033% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ETHUSDTM	2,734	0.0065	pay 0.0065% / 8h	4h 22m	$380.3M	$574.6M	100x
Short	Hotstuff ETH-PERP	2,734.9	−0.0080	pay 0.0010% / 1h	22m 20s	$5K	$1K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$30.45
Price spread: +0.033% → 0.000%: $3.33
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$44.12
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 2 min ago; Hotstuff: 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, 2 min ago	0.02 bp	6.6 bp −$7	7.6 bp −$76	10.1 bp −$1,006	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

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	2,734.9	+0.033%	$297K	$5.6M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,735.3	+0.048%	$117K	$22.5M	52x	as long as short
Hotstuff ETH-PERPshort	−0.0080%	1h	2,734.9	+0.033%	$5K	$1K	50x
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,734	−0.001%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,735.1	+0.041%	$10.8M	$41.6M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,735.2	+0.044%	$187K	$823K	50x	as long as short
Phoenix ETH	0.0000%	1h	2,735	+0.037%	$830K	$2.9M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,734.1	+0.003%	$28.1M	—	200x	as long as short
Bullet ETH-USD	+0.0008%	1h	2,733.6	−0.014%	$179K	$1.7M	20x	as long as short
ApeX Omni ETHUSDT	+0.0043%	1h	2,735	+0.035%	$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	+0.0048%	8h	2,731.7	−0.084%	$1.06B	$1.20B	200x	as long as short
BingX ETH-USDT	+0.0052%	8h	2,733.5	−0.017%	—	$1.15B	—	as long as short
Bybit ETHUSDT	+0.0063%	8h	2,732	−0.072%	$2.39B	$4.35B	150x	as long as short
KuCoin ETHUSDTMlong	+0.0065%	8h	2,734	long leg	$380.3M	$574.6M	100x
OKX ETH-USDT-SWAP	+0.0071%	8h	2,732.4	−0.060%	$1.67B	$10.71B	100x	as long as short
Phemex ETHUSDT	+0.0071%	8h	2,733.6	−0.014%	$265.8M	$65.3M	150x	as long as short
SoDEX ETH-USD	+0.0085%	1h	2,733.7	−0.011%	$54.4M	$187.6M	40x	as long as short
Aster ETHUSDT	+0.0087%	8h	2,733.9	−0.003%	$250.9M	$842.7M	200x	as long as short
MEXC ETH_USDT	+0.0094%	8h	2,733.9	−0.002%	$1.55B	$2.56B	500x	as long as short
Binance ETHUSDT	+0.0095%	8h	2,732.8	−0.044%	$6.35B	$15.86B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,733.8	−0.008%	$112.9M	$440.1M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,734.3	+0.012%	$23.4M	$106.5M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,734.6	+0.022%	—	$30.9M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,731.3	−0.100%	$4.9M	$155K	20x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,738.6	+0.169%	$15.6M	$8.0M	50x	as long as short
RISEx ETH/USDC	+0.0099%	1h	2,735.1	+0.040%	$5.5M	$11.6M	25x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,734.7	+0.026%	$500K	$3.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,733.8	−0.007%	$13.8M	$104.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,736.5	+0.092%	$3.10B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,734.8	+0.030%	$31.9M	$334.7M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,734.1	+0.004%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,735.2	+0.044%	$1.6M	$16.2M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,733.8	−0.007%	$3.34B	$8.90B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,734	+0.001%	$2.07B	$2.74B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,734.4	+0.013%	$15.0M	$39.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,732.8	−0.045%	$133.6M	$325.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,733.7	−0.012%	$183.9M	$671.0M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,733.7	−0.011%	$159.0M	$86.6M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,734.3	+0.011%	$21.1M	$68.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,735.1	+0.040%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,735.8	+0.066%	$11.2M	$9.1M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,734.6	+0.021%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,735.6	+0.059%	$41.3M	$29.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,733.7	−0.010%	$958K	$11.3M	100x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,734.8	+0.031%	$164.8M	$300.4M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,733.4	−0.023%	$30.3M	$72.5M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0108%	1h	2,735	+0.036%	$260.1M	$195.7M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,734.9	+0.031%	$51.4M	$4.27B	50x	as long as short
Aftermath Perps ETHUSD	+0.0116%	1h	2,735	+0.037%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0139%	8h	2,734.4	+0.015%	$6.7M	$678.2M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0194%	8h	2,736.2	+0.080%	$32.2M	$11.6M	100x	as long as short
Reya ETHRUSDPERP	+0.0219%	1h	2,733.1	−0.034%	$7.3M	$1.2M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0222%	1h	2,734.3	+0.011%	$83.3M	$314.7M	100x	as long as short
Hibachi ETH/USDT-P	+0.0256%	1h	2,736	+0.075%	$253K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0379%	8h	2,735.3	+0.046%	$282.7M	$175.2M	150x	as long as short