Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0137%/8h= −15.0% APRpaid last 24h +0.006%

Price spread now: RISEx against MEXC−0.026%7-day average +0.009% · 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−$12as in the Price arb table

costs, in and out, $10k−$90.089% of the position

Long on MEXC Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.040%+$4 on $10k

Price spread, last 7 days+0.037%+$4 · spread now −0.026%, 7d avg +0.009%

Together, before fees+0.077%+$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and RISEx is 0.036% cheaper against MEXC than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.009%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ETH_USDT	2,774.1	0.0052	pay 0.0052% / 8h	1h 46m	$1.61B	$2.64B	500x
Short	RISEx ETH/USDC	2,773.4	−0.0085	pay 0.0011% / 1h	46m 30s	$5.8M	$12.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$28.79
Price spread: −0.026% → +0.009%: −$3.55
Slippage, 4 orders: −$0.92
Fee MEXC: 1 bp × 2 orders: −$2
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$41.27
Costs to cover: 0.089%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; RISEx: 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 MEXC live order book, 3 min ago	0.02 bp	1.0 bp −$1	1.0 bp −$10	1.0 bp −$102	1.4 bp −$701
Sell RISEx live order book, 3 min ago	0.02 bp	3.4 bp −$3	4.2 bp −$42	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	2,773.9	−0.006%	$289K	$6.9M	8.3x	as long as short
RISEx ETH/USDCshort	−0.0085%	1h	2,773.4	−0.026%	$5.8M	$12.0M	25x
Hotstuff ETH-PERP	−0.0080%	1h	2,775.3	+0.044%	$5K	$2K	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,762.7	−0.411%	$119K	$22.5M	52x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,773.8	−0.010%	$169K	$1.2M	50x	as long as short
Aftermath Perps ETHUSD	−0.0007%	1h	2,773.3	−0.029%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,774.5	+0.014%	$12.7M	$45.5M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,772.5	−0.057%	$884K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,775.1	+0.035%	$22.4M	—	200x	as long as short
Phemex ETHUSDT	+0.0016%	8h	2,772.8	−0.047%	$267.1M	$65.7M	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDT	+0.0017%	8h	2,774.2	+0.004%	—	$1.18B	—	as long as short
OKX ETH-USDT-SWAP	+0.0020%	8h	2,773.4	−0.026%	$1.71B	$11.81B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,775	+0.031%	$13.2M	—	200x	as long as short
Aster ETHUSDT	+0.0031%	8h	2,774.1	+0.001%	$256.5M	$991.2M	200x	as long as short
Bullet ETH-USD	+0.0035%	1h	2,774.1	0.000%	$181K	$1.8M	20x	as long as short
Nado ETH-PERP	+0.0038%	1h	2,773.6	−0.018%	$14.3M	$118.0M	50x	as long as short
Aevo ETH-PERP	+0.0048%	1h	2,771.4	−0.096%	$5.0M	$636K	20x	as long as short
MEXC ETH_USDTlong	+0.0052%	8h	2,774.1	long leg	$1.61B	$2.64B	500x
Binance ETHUSDT	+0.0054%	8h	2,774.4	+0.009%	$6.44B	$17.13B	150x	as long as short
Bitget ETHUSDT	+0.0073%	8h	2,773.6	−0.017%	$2.10B	$3.10B	150x	as long as short
Hibachi ETH/USDT-P	+0.0080%	1h	2,775.2	+0.038%	$287K	$1.5M	20x	as long as short
Gate ETH_USDT	+0.0081%	8h	2,774.2	+0.004%	$3.29B	$9.55B	200x	as long as short
SoDEX ETH-USD	+0.0085%	1h	2,772.9	−0.043%	$55.2M	$228.7M	40x	as long as short
HTX ETH-USDT	+0.0096%	8h	2,773.7	−0.013%	$1.08B	$1.32B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,773.9	−0.006%	$115.1M	$496.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,775.1	+0.037%	$25.4M	$120.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,774.9	+0.029%	—	$41.3M	500x	as long as short
Bybit ETHUSDT	+0.0099%	8h	2,773.5	−0.020%	$2.51B	$4.61B	150x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,773.5	−0.023%	$15.9M	$10.6M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,773.4	−0.025%	$480K	$2.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,776.2	+0.076%	$3.19B	$2.38B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,774	−0.003%	$31.2M	$295.5M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,773	−0.039%	$2.8M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,775.3	+0.044%	$2.8M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,770.6	−0.126%	$166.0M	$246.3M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,773.5	−0.020%	$424.4M	$738.0M	100x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,774.7	+0.021%	$15.3M	$44.0M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,770.1	−0.145%	$135.6M	$326.7M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,770.7	−0.123%	$179.6M	$779.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,771.6	−0.088%	$161.2M	$94.7M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,771	−0.112%	$8.7M	$32.7M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,774.6	+0.018%	$21.4M	$57.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,774.2	+0.004%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,775.2	+0.040%	$10.8M	$7.7M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,775.4	+0.048%	$42.7M	$29.3M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,772.4	−0.061%	$972K	$14.0M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,772.7	−0.049%	$31.4M	$74.8M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,774.4	+0.009%	$60.2M	$4.60B	50x	as long as short
Kalshi KXETHPERP	+0.0108%	8h	2,774.2	+0.004%	$8.6M	$673.5M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0111%	1h	2,774.8	+0.026%	$258.4M	$223.9M	50x	as long as short
Orderly PERP_ETH_USDC	+0.0139%	8h	2,775.8	+0.060%	$32.6M	$12.0M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0170%	1h	2,773.9	−0.008%	$86.1M	$330.6M	100x	as long as short
BloFin ETH-USDT	+0.0172%	8h	2,772.8	−0.045%	$285.2M	$194.7M	150x	as long as short
Reya ETHRUSDPERP	+0.0188%	1h	2,773.8	−0.011%	$7.4M	$1.1M	25x	as long as short
Bluefin ETH-PERP	+0.0342%	1h	2,774	−0.003%	$21K	$25K	25x	as long as short