Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0080%/8h= −8.8% APRpaid last 24h −0.026%

Price spread now: Jupiter Perps against OKX+0.101%7-day average +0.026% · you sell dearer than you buy

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

Long on OKX Short on Jupiter Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.100%−$10 on $10k

Price spread, last 3 days (all we have)−0.099%−$10 · spread now +0.101%, 7d avg +0.026%

Together, before fees−0.199%−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Jupiter Perps is 0.075% dearer against OKX than usual: you sell high and buy low (spread +0.101% now, against its 7-day average of +0.026%): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ETH-USDT-SWAP	2,768.8	0.0032	pay 0.0032% / 8h	7h 06m	$1.71B	$10.95B	100x
Short	Jupiter Perps ETH-PERP	2,771.6	L +0.0104% / S +0.0048%	pay 0.0006% / 1h	6m 58s	—	$36.0M	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Jupiter Perps against OKX. 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 OKXbpFee Jupiter PerpsbpOrdersPrice spread, now +0.101%Rate

Funding earned: −$16.9
Price spread: +0.101% → +0.026%: $7.48
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Net: −$31.43
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 2 min ago; Jupiter 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 OKX live order book, 2 min ago	0.02 bp	5.0 bp −$5	5.0 bp −$50	5.9 bp −$588	8.0 bp −$4,023
Sell Jupiter Perps no order-book sample	—	—	—	—	—

Jupiter 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 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
Injective ETH/USDC PERP	−0.0752%	1h	2,773.8	+0.182%	$119K	$22.5M	52x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,770.3	+0.055%	$5.6M	$11.1M	25x	as long as short
Perpl ETH	−0.0112%	43m	2,770.3	+0.055%	$322K	$6.2M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,771.6	+0.102%	$5K	$1K	50x	as long as short
01 Exchange ETHUSD	−0.0032%	1h	2,770.3	+0.055%	$169K	$1.1M	50x	as long as short
Phoenix ETH	−0.0003%	1h	2,770.8	+0.073%	$872K	$3.7M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,771.7	+0.106%	$12.3M	$42.9M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,770.8	+0.074%	$22.4M	—	200x	as long as short
Bullet ETH-USD	+0.0015%	1h	2,770.4	+0.058%	$185K	$1.7M	20x	as long as short
Phemex ETHUSDT	+0.0017%	8h	2,770.1	+0.049%	$269.6M	$65.8M	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAPlong	+0.0032%	8h	2,768.8	long leg	$1.71B	$10.95B	100x
GMX ETH/USD [ETH-USDC]	L +0.0043% / S −0.0009%	1h	2,771	+0.079%	$12.7M	—	200x	as long as short
SoDEX ETH-USD	+0.0048%	1h	2,770	+0.044%	$55.2M	$187.7M	40x	as long as short
Aster ETHUSDT	+0.0051%	8h	2,770.1	+0.050%	$260.9M	$850.2M	200x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,768.4	−0.012%	$5.0M	$156K	20x	as long as short
Binance ETHUSDT	+0.0060%	8h	2,768.6	−0.007%	$6.47B	$16.04B	150x	as long as short
MEXC ETH_USDT	+0.0060%	8h	2,768.7	−0.003%	$1.62B	$2.66B	500x	as long as short
Aftermath Perps ETHUSD	+0.0070%	1h	2,771.4	+0.097%	$31K	$21K	20x	as long as short
HTX ETH-USDT	+0.0079%	8h	2,770	+0.044%	$1.07B	$1.23B	200x	as long as short
Bitget ETHUSDT	+0.0080%	8h	2,768.9	+0.005%	$2.10B	$2.82B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,771.3	+0.091%	$60.3M	$4.40B	50x	as long as short
Gate ETH_USDT	+0.0085%	8h	2,768.7	−0.002%	$3.38B	$9.11B	200x	as long as short
Vest ETH-PERP	+0.0086%	1h	2,771.1	+0.083%	—	$870K	50x	as long as short
KuCoin ETHUSDTM	+0.0088%	8h	2,769.1	+0.012%	$419.5M	$589.6M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,770.2	+0.052%	$115.1M	$460.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,771.9	+0.112%	$25.6M	$112.2M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,775.8	+0.254%	$16.0M	$8.2M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,770.3	+0.055%	$486K	$2.8M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,770.2	+0.050%	$14.5M	$112.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,772.3	+0.127%	$3.16B	$2.10B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,771.5	+0.099%	$31.4M	$328.9M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,769	+0.010%	$2.51B	$4.27B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,771.5	+0.099%	$2.8M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,770.7	+0.069%	$2.8M	$16.7M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,771.7	+0.106%	$172.0M	$293.3M	25x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,768.8	+0.003%	—	$1.20B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,769.6	+0.030%	$15.1M	$42.1M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,769.2	+0.014%	$134.1M	$347.1M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,773.2	+0.161%	$184.0M	$750.7M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,772.6	+0.139%	$161.2M	$83.8M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,773.5	+0.172%	$8.9M	$31.4M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,772.6	+0.138%	$21.4M	$64.4M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,770.2	+0.052%	$10.5M	$7.9M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,770.8	+0.074%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,772.3	+0.126%	$42.5M	$28.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,769.6	+0.029%	$971K	$12.7M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,767.9	−0.033%	$30.9M	$74.5M	50x	as long as short
Jupiter Perps ETH-PERPshort	L +0.0104% / S +0.0048%	1h	2,771.6	+0.101%	—	$36.0M	500x
Kalshi KXETHPERP	+0.0118%	8h	2,771.8	+0.109%	$8.2M	$672.9M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,771.3	+0.091%	$97.9M	$314.4M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0157%	8h	2,773.2	+0.159%	$32.7M	$11.0M	100x	as long as short
Hibachi ETH/USDT-P	+0.0160%	1h	2,774.3	+0.198%	$253K	$1.5M	20x	as long as short
Deribit ETH-PERPETUAL	+0.0172%	1h	2,771.5	+0.100%	$259.1M	$201.5M	50x	as long as short
BloFin ETH-USDT	+0.0180%	8h	2,770.2	+0.053%	$287.4M	$175.1M	150x	as long as short
Reya ETHRUSDPERP	+0.0214%	1h	2,770.2	+0.051%	$7.3M	$1.1M	25x	as long as short