Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0003%/8h= +0.3% APRpaid last 24h +0.007%

Price spread now: Pacifica against MEXC+0.029%7-day average +0.010% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$110.115% of the position

Long on MEXC Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 on $10k

Price spread, last 7 days−0.032%−$3 · spread now +0.029%, 7d avg +0.010%

Together, before fees+0.011%+ Points / potential airdropPacifica: Active · farm board+$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ETH_USDT	2,732.8	0.0097	pay 0.0097% / 8h	2h 15m	$1.54B	$2.60B	500x
Short	Pacifica ETH	2,733.6	0.0100	get 0.0013% / 1h	15m 31s	$32.0M	$333.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.029%Rate

Funding earned: $0.63
Price spread: +0.029% → +0.010%: $1.86
Slippage, 4 orders: −$1.46
Fee MEXC: 1 bp × 2 orders: −$2
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$8.97
Costs to cover: 0.115%
Break-even: 106.7 days

Slippage from MEXC: live order book, 4 min ago; Pacifica: live order book, 4 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 MEXC live order book, 4 min ago	0.02 bp	1.0 bp −$1	1.0 bp −$10	1.6 bp −$156	4.0 bp −$1,987
Sell Pacifica live order book, 4 min ago	0.18 bp	5.2 bp −$5	5.5 bp −$55	doesn't fit	doesn't fit

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	2,731.5	−0.046%	$281K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,733.2	+0.016%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,732.5	−0.011%	$12.0M	—	200x	as long as short
Phoenix ETH	−0.0009%	1h	2,725.4	−0.269%	$815K	$3.0M	25x	as long as short
HTX ETH-USDT	−0.0001%	8h	2,732.3	−0.018%	$1.05B	$1.22B	200x	as long as short
dYdX ETH-USD	+0.0007%	1h	2,732.3	−0.017%	$10.4M	$42.6M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,732.7	−0.001%	$33.0M	—	200x	as long as short
Injective ETH/USDC PERP	+0.0009%	1h	2,730.8	−0.072%	$117K	$22.5M	52x	as long as short
BingX ETH-USDC	+0.0034%	8h	2,731.9	−0.033%	—	$18.5M	—	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,733.2	+0.016%	$193K	$850K	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0043%	8h	2,732.5	−0.010%	$2.35B	$4.41B	150x	as long as short
Aftermath Perps ETHUSD	+0.0077%	1h	2,727.9	−0.177%	$30K	$20K	20x	as long as short
KuCoin ETHUSDTM	+0.0079%	8h	2,732.7	−0.002%	$375.2M	$578.0M	100x	as long as short
SunX ETH-USDT	+0.0080%	8h	2,731.4	−0.050%	$957K	$11.1M	100x	as long as short
Bullet ETH-USD	+0.0081%	1h	2,732.3	−0.015%	$181K	$1.7M	20x	as long as short
Aster ETHUSDT	+0.0092%	8h	2,732.7	−0.003%	$252.4M	$846.2M	200x	as long as short
Phemex ETHUSDT	+0.0093%	8h	2,732.2	−0.022%	$263.4M	$65.0M	150x	as long as short
Lighter ETH	+0.0096%	1h	2,733.3	+0.019%	$112.7M	$436.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,734.4	+0.059%	$23.5M	$104.0M	50x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,729.7	−0.110%	$4.9M	$155K	20x	as long as short
MEXC ETH_USDTlong	+0.0097%	8h	2,732.8	long leg	$1.54B	$2.60B	500x
OKX ETH-USDT-SWAP	+0.0098%	8h	2,732.3	−0.015%	$1.66B	$10.88B	100x	as long as short
Binance ETHUSDT	+0.0098%	8h	2,732.6	−0.006%	$6.34B	$16.12B	150x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,732.3	−0.017%	$505K	$3.5M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,736.5	+0.138%	$15.2M	$8.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,732.6	−0.004%	$14.1M	$105.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,735	+0.082%	$3.10B	$2.05B	25x	as long as short
Pacifica ETHshort	+0.0100%	1h	2,733.6	+0.029%	$32.0M	$333.8M	50x
Ondo Perps ETH-USD.P	+0.0100%	1h	2,732.2	−0.020%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,733.3	+0.019%	$1.5M	$16.2M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,722.5	−0.375%	$160.0M	$319.3M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,732.5	−0.010%	$3.29B	$9.05B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,732.6	−0.007%	$2.09B	$2.79B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,731.8	−0.034%	$15.0M	$42.2M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,731.7	−0.040%	$134.3M	$327.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,731.2	−0.059%	$185.1M	$680.5M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,731.6	−0.043%	$158.9M	$87.4M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,732.2	−0.022%	$8.7M	$31.4M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,732.2	−0.020%	$21.0M	$70.0M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,733.8	+0.037%	—	$875K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,734	+0.045%	$11.2M	$9.5M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,732.3	−0.016%	$22K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,733.4	+0.025%	$41.0M	$30.2M	15x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,731.9	−0.031%	$54.4M	$187.7M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,731.9	−0.032%	$30.4M	$74.2M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,732.8	+0.001%	—	$31.3M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,733.3	+0.019%	$49.7M	$4.32B	50x	as long as short
RISEx ETH/USDC	+0.0108%	1h	2,733.2	+0.017%	$5.6M	$11.8M	25x	as long as short
Deribit ETH-PERPETUAL	+0.0138%	1h	2,733.1	+0.012%	$259.3M	$207.7M	50x	as long as short
Kalshi KXETHPERP	+0.0146%	8h	2,732.2	−0.020%	$6.9M	$692.5M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0176%	1h	2,732.6	−0.006%	$83.2M	$311.6M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0188%	8h	2,734.4	+0.060%	$32.1M	$11.5M	100x	as long as short
Reya ETHRUSDPERP	+0.0198%	1h	2,732	−0.028%	$7.3M	$1.3M	25x	as long as short
Hibachi ETH/USDT-P	+0.0280%	1h	2,733	+0.009%	$250K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0382%	8h	2,731.9	−0.033%	$281.6M	$174.8M	150x	as long as short