Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0029%/8h= +3.2% APRpaid last 24h +0.002%

Price spread now: Pacifica against KuCoin+0.123%46s7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$210.209% of the position

Long on KuCoin Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.046%+$5 on $10k

Price spread, last 7 days−0.126%−$13 · spread now +0.123%, 7d avg +0.006%

Together, before fees−0.079%+ Points / potential airdropPacifica: Active · farm board−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Pacifica is 0.118% dearer against KuCoin than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.006%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ETHUSDTM	2,749.8	0.0071	pay 0.0071% / 8h	6h 21m	$370.9M	$609.7M	100x
Short	Pacifica ETH	2,753.2	0.0100	get 0.0013% / 1h	21m 54s	$31.6M	$333.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.123%Rate

Funding earned: $6.09
Price spread: +0.123% → +0.006%: $11.76
Slippage, 4 orders: −$0.89
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$3.04
Costs to cover: 0.209%
Break-even: 10.5 days

Slippage from KuCoin: live order book, 2 min ago; Pacifica: live order book, 2 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, 2 min ago	0.02 bp	6.3 bp −$6	7.5 bp −$75	10.1 bp −$1,012	doesn't fit
Sell Pacifica live order book, 2 min ago	0.18 bp	4.2 bp −$4	4.4 bp −$44	doesn't fit	doesn't fit

ETH on 54 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	2,753.4	+0.132%	$311K	$6.0M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,752.1	+0.083%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,752.8	+0.109%	$5.7M	$11.4M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,752	+0.081%	$12.1M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,752.8	+0.109%	$849K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,753.4	+0.132%	$10.8M	$42.0M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,752	+0.079%	$22.2M	—	200x	as long as short
01 Exchange ETHUSD	+0.0024%	1h	2,753	+0.116%	$181K	$1.1M	50x	as long as short
ApeX Omni ETHUSDT	+0.0033%	1h	2,752.6	+0.103%	$8.7M	$31.5M	100x	as long as short
BingX ETH-USDC	+0.0036%	8h	2,750.2	+0.013%	—	$18.1M	—	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0047%	8h	2,749.6	−0.007%	$1.69B	$10.97B	100x	as long as short
HTX ETH-USDT	+0.0058%	8h	2,751	+0.042%	$1.07B	$1.20B	200x	as long as short
KuCoin ETHUSDTMlong	+0.0071%	8h	2,749.8	long leg	$370.9M	$609.7M	100x
Aster ETHUSDT	+0.0071%	8h	2,751.3	+0.056%	$253.0M	$857.8M	200x	as long as short
MEXC ETH_USDT	+0.0080%	8h	2,749.8	−0.001%	$1.57B	$2.56B	500x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,749.1	−0.025%	$4.9M	$168K	20x	as long as short
Binance ETHUSDT	+0.0081%	8h	2,749.9	+0.002%	$6.39B	$16.22B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,752.3	+0.091%	$59.1M	$4.35B	50x	as long as short
Gate ETH_USDT	+0.0092%	8h	2,750	+0.008%	$3.39B	$8.90B	200x	as long as short
Bitget ETHUSDT	+0.0094%	8h	2,749.9	+0.002%	$2.08B	$2.83B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,751.6	+0.065%	$113.0M	$443.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,752.8	+0.108%	$24.9M	$107.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,753.1	+0.120%	—	$35.5M	500x	as long as short
Phemex ETHUSDT	+0.0098%	8h	2,752.2	+0.085%	$267.6M	$66.0M	150x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,757.8	+0.290%	$16.3M	$8.2M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,751.5	+0.061%	$479K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,752.8	+0.108%	$14.0M	$112.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,753.5	+0.134%	$3.13B	$2.10B	25x	as long as short
Pacifica ETHshort	+0.0100%	1h	2,753.2	+0.123%	$31.6M	$333.9M	50x
Bybit ETHUSDT	+0.0100%	8h	2,750	+0.006%	$2.46B	$4.33B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,752.6	+0.101%	$2.8M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,753.3	+0.125%	$2.8M	$16.5M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,750.7	+0.031%	$15.1M	$41.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,753.3	+0.126%	$133.3M	$345.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,751.6	+0.066%	$181.9M	$701.5M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,753.9	+0.150%	$160.2M	$83.2M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,751.2	+0.051%	$21.3M	$67.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,753.5	+0.133%	—	$869K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,753.1	+0.120%	$10.8M	$8.6M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,752.1	+0.084%	$182K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,752.4	+0.096%	$21K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,753.2	+0.125%	$41.8M	$29.5M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,751.7	+0.070%	$964K	$12.3M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,751	+0.043%	$54.8M	$187.7M	40x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,751.8	+0.072%	$165.7M	$300.7M	25x	as long as short
Aftermath Perps ETHUSD	+0.0101%	1h	2,751.5	+0.062%	$30K	$20K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,749.2	−0.021%	$30.5M	$73.5M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0128%	1h	2,752.5	+0.097%	$258.5M	$200.0M	50x	as long as short
Kalshi KXETHPERP	+0.0142%	8h	2,753.2	+0.123%	$7.9M	$675.0M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0171%	8h	2,753.9	+0.150%	$32.4M	$11.1M	100x	as long as short
Hibachi ETH/USDT-P	+0.0208%	1h	2,751.7	+0.070%	$250K	$1.5M	20x	as long as short
Injective ETH/USDC PERP	+0.0209%	1h	2,753	+0.116%	$118K	$22.5M	52x	as long as short
Reya ETHRUSDPERP	+0.0220%	1h	2,752.3	+0.090%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0354%	1h	2,751.8	+0.074%	$89.5M	$316.6M	100x	as long as short