Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0016%/8h= +1.8% APRpaid last 24h +0.003%

Price spread now: Nado against KuCoin−0.027%7-day average +0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$200.197% of the position

Long on KuCoin Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.051%+$5 on $10k

Price spread, last 7 days+0.026%+$3 · spread now −0.027%, 7d avg +0.014%

Together, before fees+0.077%+ Points / potential airdropNado: Active · farm board+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.041% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.027% now, against its 7-day average of +0.014%). If the spread goes back, that is −$4 on $10k: about 8.6 days of funding at the current rate ($0 a day). At the pace of the last 4 days (+0.051% in total) that is about 2.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ETHUSDTM	2,730.4	0.0084	pay 0.0084% / 8h	7h 40m	$383.2M	$575.9M	100x
Short	Nado ETH-PERP	2,729.7	0.0100	get 0.0012% / 1h	40m 59s	$14.2M	$100.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.027%Rate

Funding earned: $3.36
Price spread: −0.027% → +0.014%: −$4.11
Slippage, 4 orders: −$0.69
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$20.44
Costs to cover: 0.197%
Break-even: 49.6 days

Slippage from KuCoin: live order book, 8 min ago; Nado: live order book, 3 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, 8 min ago	0.02 bp	6.0 bp −$6	6.9 bp −$69	10.1 bp −$1,008	doesn't fit
Sell Nado live order book, 3 min ago	0.18 bp	3.7 bp −$4	4.0 bp −$40	6.1 bp −$612	14.4 bp −$7,186

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
BloFin ETH-USDT	−0.0179%	8h	2,729.2	−0.043%	$280.4M	$177.6M	150x	as long as short
Perpl ETH	−0.0112%	43m	2,730.9	+0.018%	$277K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,731.3	+0.033%	$5K	$1K	50x	as long as short
HTX ETH-USDT	−0.0072%	8h	2,729.2	−0.043%	$1.05B	$1.21B	200x	as long as short
Bybit ETHUSDT	−0.0030%	8h	2,730.6	+0.006%	$2.32B	$4.30B	150x	as long as short
Phemex ETHUSDT	−0.0016%	8h	2,729.2	−0.045%	$263.0M	$63.8M	150x	as long as short
Phoenix ETH	−0.0012%	1h	2,733	+0.095%	$807K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,732.4	+0.072%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,731.2	+0.027%	$10.6M	$41.9M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,730.2	−0.008%	$6.7M	$671.4M	4.9x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ETH-PERPETUAL	0.0000%	1h	2,730.2	−0.009%	$264.6M	$218.8M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,729.9	−0.020%	$32.9M	—	200x	as long as short
SunX ETH-USDT	+0.0031%	8h	2,729.4	−0.038%	$940K	$10.7M	100x	as long as short
01 Exchange ETHUSD	+0.0048%	1h	2,730.5	+0.003%	$191K	$883K	50x	as long as short
Gate ETH_USDT	+0.0051%	8h	2,730.8	+0.015%	$3.28B	$8.24B	200x	as long as short
SoDEX ETH-USD	+0.0054%	1h	2,729.2	−0.044%	$54.4M	$182.5M	40x	as long as short
Hibachi ETH/USDT-P	+0.0064%	1h	2,732.8	+0.089%	$237K	$1.4M	20x	as long as short
ApeX Omni ETHUSDT	+0.0078%	1h	2,730.8	+0.016%	$8.4M	$31.2M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0078%	8h	2,730.4	−0.002%	$1.65B	$10.73B	100x	as long as short
Aster ETHUSDT	+0.0081%	8h	2,730.7	+0.011%	$252.1M	$849.5M	200x	as long as short
KuCoin ETHUSDTMlong	+0.0084%	8h	2,730.4	long leg	$383.2M	$575.9M	100x
Binance ETHUSDT	+0.0091%	8h	2,730.8	+0.013%	$6.32B	$16.06B	150x	as long as short
MEXC ETH_USDT	+0.0092%	8h	2,730.8	+0.015%	$1.57B	$2.55B	500x	as long as short
Lighter ETH	+0.0096%	1h	2,729.9	−0.018%	$112.5M	$401.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,731	+0.022%	$23.7M	$95.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,731.1	+0.027%	—	$30.4M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,726.9	−0.127%	$4.9M	$195K	20x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,729.5	−0.033%	$177K	$1.7M	20x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,729.9	−0.019%	$499K	$3.5M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,733.3	+0.105%	$15.4M	$7.2M	50x	as long as short
Nado ETH-PERPshort	+0.0100%	1h	2,729.7	−0.027%	$14.2M	$100.7M	50x
Hyperliquid ETH	+0.0100%	1h	2,731.9	+0.055%	$3.11B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,730.8	+0.014%	$32.0M	$332.0M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,728.8	−0.059%	$2.7M	$16.5M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,730.3	−0.006%	$1.6M	$15.8M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,731.1	+0.026%	$2.11B	$2.75B	150x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,730.1	−0.012%	—	$18.7M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,729.8	−0.023%	$15.2M	$39.9M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,731	+0.023%	$131.5M	$316.0M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,731.1	+0.025%	$185.8M	$686.3M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,730.9	+0.018%	$158.8M	$79.8M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,732.5	+0.077%	$21.0M	$70.8M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,731.5	+0.041%	—	$441K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,730.5	+0.003%	$11.2M	$9.3M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,731.1	+0.024%	$40.6M	$29.2M	15x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,730.8	+0.015%	$162.8M	$334.7M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,730	−0.014%	$30.5M	$71.2M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0105%	1h	2,730.1	−0.013%	$81.9M	$309.8M	100x	as long as short
Aftermath Perps ETHUSD	+0.0112%	1h	2,731.2	+0.030%	$30K	$20K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,730.5	+0.003%	$46.3M	$4.24B	50x	as long as short
RISEx ETH/USDC	+0.0137%	1h	2,730.6	+0.008%	$5.7M	$11.4M	25x	as long as short
Reya ETHRUSDPERP	+0.0173%	1h	2,728.7	−0.062%	$7.3M	$972K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0185%	8h	2,731.8	+0.049%	$32.2M	$11.3M	100x	as long as short
Injective ETH/USDC PERP	+0.0253%	1h	2,730	−0.015%	$117K	$20.2M	52x	as long as short
Bluefin ETH-PERP	+0.2783%	1h	2,730.4	+0.001%	$20K	$23K	25x	as long as short