Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0011%/8h= +1.2% APRpaid last 24h +0.007%

Price spread now: Ondo Perps against MEXC+0.057%7-day average −0.011% · you sell dearer than you buy

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

Long on MEXC Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.095%+$10 on $10k

Price spread, last 7 days−0.520%−$52 · spread now +0.057%, 7d avg −0.011%

Together, before fees−0.425%+ Points / potential airdropOndo Perps: Active · farm board−$42 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Ondo Perps is 0.068% dearer against MEXC than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ETH_USDT	2,746.2	0.0089	pay 0.0089% / 8h	5h 52m	$1.60B	$2.34B	500x
Short	Ondo Perps ETH-USD.P	2,747.8	0.0100	get 0.0013% / 1h	52m 45s	$2.8M	$14.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against MEXC. 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 MEXCbpFee Ondo PerpsbpOrdersPrice spread, now +0.057%Rate

Funding earned: $2.31
Price spread: +0.057% → −0.011%: $6.76
Slippage, 4 orders: no order book: not counted
Fee MEXC: 1 bp × 2 orders: −$2
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $2.07
Costs to cover: 0.070%
Break-even: 0.7 days

Slippage unknown: MEXC: live order book, 4 min ago; Ondo Perps: 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 MEXC live order book, 4 min ago	0.02 bp	1.0 bp −$1	1.0 bp −$10	1.5 bp −$154	3.8 bp −$1,887
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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 54 exchanges

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
Hibachi ETH/USDT-P	−0.0120%	1h	2,748.2	+0.071%	$235K	$1.2M	20x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,749.4	+0.115%	$5K	$1K	50x	as long as short
ApeX Omni ETHUSDT	−0.0045%	1h	2,748.4	+0.078%	$8.3M	$25.3M	100x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0009% / S +0.0043%	1h	2,747.5	+0.047%	$12.2M	—	200x	as long as short
Phoenix ETH	−0.0009%	1h	2,750	+0.137%	$809K	$2.8M	25x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,748.2	+0.071%	$7.2M	$661.1M	4.9x	as long as short
Perpl ETH	0.0000%	43m	2,748	+0.062%	$269K	$5.0M	8.3x	as long as short
Bybit ETHUSDT	+0.0005%	8h	2,745.9	−0.013%	$2.37B	$3.82B	150x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,747.4	+0.042%	$33.2M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0068%	8h	2,745.5	−0.025%	$1.67B	$9.23B	100x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ETHUSD	+0.0072%	1h	2,748	+0.064%	$182K	$929K	50x	as long as short
Gate ETH_USDT	+0.0082%	8h	2,746	−0.011%	$3.27B	$7.69B	200x	as long as short
Aster ETHUSDT	+0.0084%	8h	2,746.3	+0.003%	$257.8M	$720.8M	200x	as long as short
KuCoin ETHUSDTM	+0.0088%	8h	2,747.2	+0.034%	$365.1M	$441.2M	100x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,745.1	−0.041%	$4.9M	$214K	20x	as long as short
MEXC ETH_USDTlong	+0.0089%	8h	2,746.2	long leg	$1.60B	$2.34B	500x
Binance ETHUSDT	+0.0090%	8h	2,746.1	−0.007%	$6.41B	$14.03B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,746.9	+0.023%	$113.8M	$384.1M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,749.1	+0.102%	$23.7M	$94.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,747.7	+0.055%	—	$23.6M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0096%	1h	2,748.8	+0.092%	$46.2M	$3.90B	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,746.9	+0.024%	$506K	$3.5M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,747.5	+0.047%	$14.6M	$95.9M	50x	as long as short
Pacifica ETH	+0.0100%	1h	2,748.9	+0.097%	$32.4M	$325.1M	50x	as long as short
Ondo Perps ETH-USD.Pshort	+0.0100%	1h	2,747.8	+0.057%	$2.8M	$14.2M	25x
Arcus ETH-USD	+0.0100%	1h	2,748.4	+0.078%	$1.5M	$14.3M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,749.3	+0.110%	$164.5M	$330.2M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,745.5	−0.027%	$2.11B	$2.30B	150x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,745.4	−0.032%	—	$18.4M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,746.7	+0.017%	$14.9M	$36.1M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,747.8	+0.058%	$132.6M	$290.9M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,748.3	+0.075%	$185.2M	$607.0M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,749.4	+0.114%	$159.9M	$69.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,748.5	+0.082%	$21.1M	$75.6M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,749.1	+0.104%	—	$348K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,748.9	+0.097%	$11.3M	$8.6M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,747.6	+0.051%	$177K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,747.9	+0.060%	$20K	$14K	25x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,748	+0.062%	$947K	$8.6M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,747.7	+0.053%	$61.9M	$121.8M	40x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,747.4	+0.042%	$1.05B	$1.05B	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,747.5	+0.044%	$264.0M	$56.4M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,745.6	−0.024%	$30.5M	$65.1M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0105%	1h	2,748	+0.065%	$82.5M	$273.6M	100x	as long as short
Aftermath Perps ETHUSD	+0.0107%	1h	2,748.6	+0.085%	$30K	$8K	20x	as long as short
Deribit ETH-PERPETUAL	+0.0121%	1h	2,748.8	+0.093%	$266.8M	$185.2M	50x	as long as short
Reya ETHRUSDPERP	+0.0156%	1h	2,746.6	+0.014%	$7.3M	$832K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0174%	8h	2,749.9	+0.133%	$32.4M	$9.9M	100x	as long as short
dYdX ETH-USD	+0.0204%	1h	2,747.8	+0.057%	$15.2M	$42.7M	50x	as long as short
RISEx ETH/USDC	+0.0206%	1h	2,748.6	+0.084%	$5.7M	$10.6M	25x	as long as short
Hyperliquid ETH	+0.0248%	1h	2,749	+0.101%	$3.15B	$1.73B	25x	as long as short
BloFin ETH-USDT	+0.0360%	8h	2,747.7	+0.054%	$283.3M	$149.7M	150x	as long as short
Injective ETH/USDC PERP	+0.0461%	1h	2,751.5	+0.192%	$118K	$21.7M	52x	as long as short
Paradex ETH-USD-PERP	+0.0538%	8h	2,752.3	+0.220%	$16.0M	$6.2M	50x	as long as short