Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0016%/8h= −1.8% APRpaid last 24h −0.011%

Price spread now: 01 Exchange against MEXC+0.031%7-day average −0.002% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$170.175% of the position

Long on MEXC Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.048%−$5 on $10k

Price spread, last 7 days−0.031%−$3 · spread now +0.031%, 7d avg −0.002%

Together, before fees−0.079%−$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. 01 Exchange is 0.032% dearer against MEXC than usual: you sell high and buy low (spread +0.031% now, against its 7-day average of −0.002%): +$3 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 6.7 days. At the pace of the last 4 days (−0.048% in total) that is about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ETH_USDT	2,746.5	0.0088	pay 0.0088% / 8h	5h 51m	$1.60B	$2.34B	500x
Short	01 Exchange ETHUSD	2,747.3	0.0072	get 0.0009% / 1h	51m 30s	$182K	$915K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.031%Rate

Funding earned: −$3.36
Price spread: +0.031% → −0.002%: $3.23
Slippage, 4 orders: −$8.5
Fee MEXC: 1 bp × 2 orders: −$2
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$17.63
Costs to cover: 0.175%
Break-even: never at this rate

Slippage from MEXC: live order book, 6 min ago; 01 Exchange: live order book, 60 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, 6 min ago	0.02 bp	1.0 bp −$1	1.0 bp −$10	1.5 bp −$154	3.8 bp −$1,887
Sell 01 Exchange live order book, 60 min ago	0.18 bp	8.7 bp −$9	11.6 bp −$116	doesn't fit	doesn't fit

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	−0.0112%	1h	2,747.4	+0.033%	$235K	$1.2M	20x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,749.4	+0.107%	$5K	$1K	50x	as long as short
ApeX Omni ETHUSDT	−0.0050%	1h	2,748.1	+0.059%	$8.3M	$25.3M	100x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0009% / S +0.0043%	1h	2,747.3	+0.030%	$12.2M	—	200x	as long as short
Phoenix ETH	−0.0009%	1h	2,748.5	+0.074%	$808K	$2.8M	25x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,746.8	+0.012%	$7.2M	$661.2M	4.9x	as long as short
Perpl ETH	0.0000%	43m	2,748	+0.054%	$269K	$5.0M	8.3x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,747.4	+0.034%	$33.2M	—	200x	as long as short
Bybit ETHUSDT	+0.0008%	8h	2,746.5	+0.003%	$2.37B	$3.80B	150x	as long as short
OKX ETH-USDT-SWAP	+0.0068%	8h	2,746.3	−0.006%	$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 ETHUSDshort	+0.0072%	1h	2,747.3	+0.031%	$182K	$915K	50x
Gate ETH_USDT	+0.0081%	8h	2,746.5	+0.002%	$3.27B	$7.69B	200x	as long as short
Aster ETHUSDT	+0.0083%	8h	2,746.8	+0.011%	$257.8M	$719.7M	200x	as long as short
MEXC ETH_USDTlong	+0.0088%	8h	2,746.5	long leg	$1.60B	$2.34B	500x
KuCoin ETHUSDTM	+0.0088%	8h	2,746.1	−0.015%	$365.0M	$440.8M	100x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,744.4	−0.074%	$4.9M	$214K	20x	as long as short
Binance ETHUSDT	+0.0089%	8h	2,746.6	+0.006%	$6.41B	$14.01B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,746.4	−0.003%	$113.7M	$384.3M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,747.5	+0.039%	$23.7M	$94.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,747.2	+0.026%	—	$23.6M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0096%	1h	2,748.4	+0.070%	$46.2M	$3.90B	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,746.1	−0.013%	$506K	$3.5M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,745.7	−0.028%	$14.6M	$95.9M	50x	as long as short
Pacifica ETH	+0.0100%	1h	2,747.1	+0.022%	$32.3M	$325.1M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,747.8	+0.049%	$2.8M	$14.2M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,747.8	+0.050%	$1.5M	$14.3M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,749.3	+0.102%	$164.5M	$330.2M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,746.5	+0.003%	$2.11B	$2.30B	150x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,746.7	+0.007%	—	$944.9M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,746.7	+0.007%	$14.9M	$36.1M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,747.8	+0.050%	$132.6M	$290.9M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,747	+0.020%	$185.1M	$607.8M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,748.2	+0.063%	$159.9M	$69.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,747.1	+0.023%	$21.1M	$75.6M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,747.8	+0.050%	—	$348K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,748.2	+0.063%	$11.3M	$8.6M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,747	+0.020%	$177K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,746.6	+0.005%	$20K	$14K	25x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,746.3	−0.005%	$946K	$8.6M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,747.1	+0.023%	$61.8M	$121.8M	40x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,746.8	+0.012%	$1.05B	$1.05B	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,747.3	+0.032%	$263.9M	$56.4M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,745.5	−0.036%	$30.5M	$65.2M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0105%	1h	2,747.6	+0.042%	$82.5M	$273.5M	100x	as long as short
Aftermath Perps ETHUSD	+0.0107%	1h	2,748.3	+0.066%	$30K	$8K	20x	as long as short
Deribit ETH-PERPETUAL	+0.0140%	1h	2,748	+0.056%	$266.8M	$184.9M	50x	as long as short
Reya ETHRUSDPERP	+0.0156%	1h	2,745.3	−0.044%	$7.3M	$832K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0174%	8h	2,749.2	+0.099%	$32.4M	$9.9M	100x	as long as short
dYdX ETH-USD	+0.0185%	1h	2,746.3	−0.006%	$15.2M	$42.6M	50x	as long as short
RISEx ETH/USDC	+0.0206%	1h	2,747.8	+0.047%	$5.7M	$10.6M	25x	as long as short
Hyperliquid ETH	+0.0253%	1h	2,749.9	+0.124%	$3.16B	$1.73B	25x	as long as short
BloFin ETH-USDT	+0.0360%	8h	2,747.7	+0.046%	$283.3M	$149.7M	150x	as long as short
Injective ETH/USDC PERP	+0.0461%	1h	2,751.5	+0.184%	$118K	$21.7M	52x	as long as short
Paradex ETH-USD-PERP	+0.0549%	8h	2,750.4	+0.143%	$16.0M	$6.2M	50x	as long as short