Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0089%/8h= −9.7% APRpaid last 24h −0.032%

Price spread now: Aster against Reya+0.023%7-day average +0.034% · you sell dearer than you buy

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

Long on Reya Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.067%−$7 on $10k

Price spread, last 7 days+0.012%+$1 · spread now +0.023%, 7d avg +0.034%

Together, before fees−0.055%+ Points / potential airdropReya: Active · Aster: Stage 5 · farm board−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.034%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ETHRUSDPERP	2,727.8	0.0175	pay 0.0022% / 1h	53m 26s	$7.3M	$972K	25x
Short	Aster ETHUSDT	2,728.4	0.0086	get 0.0086% / 8h	7h 53m	$252.1M	$849.2M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Reya. 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 ReyabpFee AsterbpOrdersPrice spread, now +0.023%Rate

Funding earned: −$18.7
Price spread: +0.023% → +0.034%: −$1.09
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Aster: 4 bp × 2 orders: −$8
Net: −$33.78
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Aster: live order book, 6 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Aster live order book, 6 min ago	0.02 bp	4.0 bp −$4	4.4 bp −$44	5.7 bp −$567	12.3 bp −$6,140

Reya: 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
Perpl ETH	−0.0112%	43m	2,728.6	+0.030%	$275K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,727.6	−0.007%	$5K	$1K	50x	as long as short
Phoenix ETH	−0.0012%	1h	2,728.7	+0.033%	$805K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,728.3	+0.019%	$11.9M	—	200x	as long as short
Phemex ETHUSDT	−0.0004%	8h	2,727.4	−0.014%	$262.8M	$64.0M	150x	as long as short
dYdX ETH-USD	0.0000%	1h	2,728.6	+0.030%	$10.5M	$41.8M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,729.1	+0.048%	$6.7M	$672.5M	4.9x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,728.2	+0.016%	$264.5M	$219.5M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,727.8	−0.001%	$32.9M	—	200x	as long as short
Bybit ETHUSDT	+0.0046%	8h	2,728.6	+0.028%	$2.32B	$4.32B	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX ETH-USDT	+0.0053%	8h	2,727	−0.028%	$1.05B	$1.22B	200x	as long as short
Gate ETH_USDT	+0.0065%	8h	2,727.5	−0.012%	$3.29B	$8.20B	200x	as long as short
OKX ETH-USDT-SWAP	+0.0079%	8h	2,728.6	+0.028%	$1.66B	$10.73B	100x	as long as short
01 Exchange ETHUSD	+0.0080%	1h	2,728.7	+0.033%	$191K	$884K	50x	as long as short
KuCoin ETHUSDTM	+0.0084%	8h	2,728.6	+0.030%	$383.8M	$576.6M	100x	as long as short
Aster ETHUSDTshort	+0.0086%	8h	2,728.4	+0.023%	$252.1M	$849.2M	200x
Hibachi ETH/USDT-P	+0.0088%	1h	2,727.2	−0.023%	$242K	$1.4M	20x	as long as short
SunX ETH-USDT	+0.0089%	8h	2,727.3	−0.017%	$954K	$10.7M	100x	as long as short
MEXC ETH_USDT	+0.0095%	8h	2,728.5	+0.027%	$1.56B	$2.54B	500x	as long as short
Binance ETHUSDT	+0.0095%	8h	2,728.3	+0.019%	$6.31B	$16.08B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,727.7	−0.005%	$112.2M	$400.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,729.2	+0.051%	$23.6M	$95.5M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,728.3	+0.018%	—	$30.5M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,725.9	−0.069%	$4.9M	$193K	20x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,727.8	0.000%	$500K	$3.6M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,731.1	+0.120%	$15.4M	$7.4M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,728	+0.006%	$14.1M	$103.0M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,730.9	+0.114%	$3.10B	$2.03B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,728.5	+0.024%	$32.1M	$332.5M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,728	+0.007%	$2.7M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,728.2	+0.015%	$1.6M	$16.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,727.1	−0.025%	$161.7M	$337.0M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,728.6	+0.028%	$2.11B	$2.76B	150x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,728	+0.008%	—	$1.05B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,727.6	−0.006%	$15.2M	$40.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,727.3	−0.018%	$131.3M	$315.9M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,725.6	−0.081%	$185.4M	$684.1M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,726.6	−0.045%	$158.5M	$80.6M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,724.6	−0.116%	$8.4M	$31.3M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,728.8	+0.037%	$21.0M	$70.4M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,730.1	+0.084%	—	$441K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,730	+0.081%	$11.2M	$9.4M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,728.5	+0.026%	$178K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,728.3	+0.017%	$20K	$23K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,731.7	+0.142%	$40.6M	$29.2M	15x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,727.4	−0.015%	$54.3M	$182.6M	40x	as long as short
Aftermath Perps ETHUSD	+0.0103%	1h	2,727.5	−0.013%	$30K	$20K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,726.7	−0.039%	$30.4M	$71.1M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0105%	1h	2,727.9	+0.004%	$81.9M	$310.5M	100x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,728.4	+0.022%	$46.6M	$4.24B	50x	as long as short
RISEx ETH/USDC	+0.0137%	1h	2,728.7	+0.034%	$5.6M	$11.6M	25x	as long as short
BloFin ETH-USDT	+0.0144%	8h	2,726.8	−0.037%	$282.7M	$177.5M	150x	as long as short
Reya ETHRUSDPERPlong	+0.0175%	1h	2,727.8	long leg	$7.3M	$972K	25x
Orderly PERP_ETH_USDC	+0.0187%	8h	2,730	+0.082%	$32.2M	$11.3M	100x	as long as short
Injective ETH/USDC PERP	+0.0253%	1h	2,725.2	−0.095%	$117K	$19.3M	52x	as long as short