Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.007%

Price spread now: MEXC against Pacifica−0.014%7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$100.104% of the position

Long on Pacifica Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.037%−$4 on $10k

Price spread, last 7 days+0.013%+$1 · spread now −0.014%, 7d avg −0.010%

Together, before fees−0.023%+ Points / potential airdropPacifica: Active · farm board−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.010%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica ETH	2,774	0.0100	pay 0.0013% / 1h	10m 26s	$31.2M	$328.0M	50x
Short	MEXC ETH_USDT	2,773.7	0.0060	get 0.0060% / 8h	7h 10m	$1.61B	$2.66B	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Pacifica. 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 PacificabpFee MEXCbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$8.4
Price spread: −0.014% → −0.010%: −$0.46
Slippage, 4 orders: −$0.4
Fee Pacifica: 4 bp × 2 orders: −$8
Fee MEXC: 1 bp × 2 orders: −$2
Net: −$19.26
Costs to cover: 0.104%
Break-even: never at this rate

Slippage from Pacifica: live order book, 4 min ago; MEXC: 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 Pacifica live order book, 4 min ago	0.18 bp	4.2 bp −$4	4.6 bp −$46	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	0.02 bp	1.0 bp −$1	1.0 bp −$10	1.2 bp −$117	3.7 bp −$1,829

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	−0.009%	$119K	$22.5M	52x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,773.5	−0.021%	$5.6M	$11.1M	25x	as long as short
Perpl ETH	−0.0112%	43m	2,772.7	−0.049%	$322K	$6.2M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,773.9	−0.005%	$5K	$1K	50x	as long as short
01 Exchange ETHUSD	−0.0032%	1h	2,773.5	−0.020%	$170K	$1.1M	50x	as long as short
Phoenix ETH	−0.0003%	1h	2,770.5	−0.128%	$872K	$3.7M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,773	−0.038%	$12.3M	$42.8M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,769.8	−0.153%	$22.4M	—	200x	as long as short
Bullet ETH-USD	+0.0014%	1h	2,773.5	−0.020%	$185K	$1.7M	20x	as long as short
OKX ETH-USDT-SWAP	+0.0030%	8h	2,773.8	−0.009%	$1.71B	$10.99B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX ETH-USD	+0.0040%	1h	2,769.2	−0.175%	$55.2M	$187.7M	40x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0043% / S −0.0009%	1h	2,769.7	−0.157%	$12.7M	—	200x	as long as short
Aster ETHUSDT	+0.0049%	8h	2,773.5	−0.019%	$256.5M	$863.1M	200x	as long as short
Binance ETHUSDT	+0.0060%	8h	2,773.5	−0.021%	$6.48B	$16.07B	150x	as long as short
MEXC ETH_USDTshort	+0.0060%	8h	2,773.7	−0.014%	$1.61B	$2.66B	500x
Aevo ETH-PERP	+0.0064%	1h	2,766.5	−0.272%	$5.0M	$156K	20x	as long as short
HTX ETH-USDT	+0.0073%	8h	2,769	−0.180%	$1.07B	$1.23B	200x	as long as short
Bitget ETHUSDT	+0.0078%	8h	2,774	−0.002%	$2.10B	$2.82B	150x	as long as short
Aftermath Perps ETHUSD	+0.0079%	1h	2,770.4	−0.132%	$31K	$21K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,770.4	−0.132%	$60.3M	$4.40B	50x	as long as short
Vest ETH-PERP	+0.0084%	1h	2,773.3	−0.026%	—	$876K	50x	as long as short
KuCoin ETHUSDTM	+0.0089%	8h	2,774	−0.003%	$420.8M	$595.7M	100x	as long as short
Gate ETH_USDT	+0.0092%	8h	2,773.2	−0.031%	$3.39B	$9.10B	200x	as long as short
ApeX Omni ETHUSDT	+0.0094%	1h	2,769.3	−0.171%	$8.6M	$32.0M	100x	as long as short
Phemex ETHUSDT	+0.0095%	8h	2,769.3	−0.171%	$269.5M	$66.0M	150x	as long as short
Lighter ETH	+0.0096%	1h	2,774.1	+0.002%	$115.3M	$460.0M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,775.4	+0.049%	$25.6M	$112.1M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,777.8	+0.136%	$16.0M	$8.2M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,773.3	−0.027%	$486K	$2.8M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,773.4	−0.024%	$14.6M	$112.9M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,776.3	+0.081%	$3.17B	$2.19B	25x	as long as short
Pacifica ETHlong	+0.0100%	1h	2,774	long leg	$31.2M	$328.0M	50x
Bybit ETHUSDT	+0.0100%	8h	2,773.5	−0.020%	$2.52B	$4.28B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,773.4	−0.023%	$2.8M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,773.9	−0.006%	$2.8M	$16.8M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,763.5	−0.379%	$172.0M	$292.0M	25x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,773.2	−0.032%	—	$1.20B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,769.3	−0.170%	$15.2M	$41.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,769.2	−0.176%	$134.1M	$347.1M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,769	−0.183%	$181.8M	$786.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,771.4	−0.096%	$161.1M	$84.1M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,771.1	−0.106%	$21.4M	$64.2M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,773.8	−0.009%	$10.5M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,769.7	−0.157%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,771	−0.109%	$42.5M	$28.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,768.3	−0.206%	$971K	$12.8M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,772.3	−0.063%	$30.9M	$74.4M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,769.7	−0.157%	—	$36.1M	500x	as long as short
Kalshi KXETHPERP	+0.0113%	8h	2,770.3	−0.135%	$8.1M	$674.1M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,770.7	−0.120%	$97.9M	$314.5M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0156%	8h	2,771.8	−0.082%	$32.7M	$11.0M	100x	as long as short
Hibachi ETH/USDT-P	+0.0160%	1h	2,770.4	−0.132%	$253K	$1.5M	20x	as long as short
BloFin ETH-USDT	+0.0180%	8h	2,769.1	−0.177%	$287.7M	$177.7M	150x	as long as short
Deribit ETH-PERPETUAL	+0.0183%	1h	2,770.6	−0.123%	$259.1M	$202.3M	50x	as long as short
Reya ETHRUSDPERP	+0.0214%	1h	2,773.8	−0.008%	$7.4M	$1.1M	25x	as long as short