Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0137%/8h= +15.0% APRpaid last 24h −0.004%

Price spread now: Binance against RISEx−0.037%7-day average −0.007% · 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−$22as in the Price arb table

costs, in and out, $10k−$190.187% of the position

Long on RISEx Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.028%−$3 on $10k

Price spread, last 7 days+0.033%+$3 · spread now −0.037%, 7d avg −0.007%

Together, before fees+0.004%$0 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.030% cheaper against RISEx than usual: you would sell low and buy high (spread −0.037% now, against its 7-day average of −0.007%). If the spread goes back, that is −$3 on $10k: about 18 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx ETH/USDC	2,750.7	−0.0071	get 0.0009% / 1h	46m 11s	$5.5M	$11.3M	25x
Short	Binance ETHUSDT	2,749.6	0.0066	get 0.0066% / 8h	6h 46m	$6.36B	$16.32B	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against RISEx. 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 RISExbpFee BinancebpOrdersPrice spread, now −0.037%Rate

Funding earned: $28.7
Price spread: −0.037% → −0.007%: −$3.01
Slippage, 4 orders: −$2.74
Fee RISEx: 3 bp × 2 orders: −$6
Fee Binance: 5 bp × 2 orders: −$10
Net: $6.95
Costs to cover: 0.187%
Break-even: 5.3 days

Slippage from RISEx: live order book, 3 min ago; Binance: live order book, 13 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 RISEx live order book, 3 min ago	0.02 bp	5.7 bp −$6	5.8 bp −$58	293.0 bp −$29.3K	doesn't fit
Sell Binance live order book, 13 min ago	0.02 bp	5.0 bp −$5	5.0 bp −$50	6.2 bp −$620	9.1 bp −$4,543

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	2,751.5	+0.032%	$315K	$6.2M	8.3x	as long as short
ApeX Omni ETHUSDT	−0.0175%	1h	2,753.4	+0.101%	$8.8M	$31.6M	100x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,751.5	+0.031%	$5K	$1K	50x	as long as short
RISEx ETH/USDClong	−0.0071%	1h	2,750.7	long leg	$5.5M	$11.3M	25x
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,749.8	−0.029%	$12.0M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,756.3	+0.205%	$865K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,752	+0.050%	$10.9M	$41.9M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,750	−0.023%	$22.2M	—	200x	as long as short
01 Exchange ETHUSD	+0.0008%	1h	2,750.6	−0.002%	$181K	$1.1M	50x	as long as short
BingX ETH-USDT	+0.0028%	8h	2,749	−0.061%	—	$1.20B	—	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-SWAP	+0.0036%	8h	2,749.4	−0.045%	$1.68B	$11.10B	100x	as long as short
Deribit ETH-PERPETUAL	+0.0037%	1h	2,750.6	−0.002%	$258.8M	$201.9M	50x	as long as short
Aster ETHUSDT	+0.0055%	8h	2,750.3	−0.014%	$255.8M	$856.9M	200x	as long as short
HTX ETH-USDT	+0.0057%	8h	2,749.3	−0.049%	$1.07B	$1.22B	200x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,746.8	−0.139%	$4.9M	$168K	20x	as long as short
MEXC ETH_USDT	+0.0065%	8h	2,749.3	−0.050%	$1.58B	$2.53B	500x	as long as short
Binance ETHUSDTshort	+0.0066%	8h	2,749.6	−0.037%	$6.36B	$16.32B	150x
Gate ETH_USDT	+0.0068%	8h	2,749.6	−0.040%	$3.33B	$8.75B	200x	as long as short
KuCoin ETHUSDTM	+0.0080%	8h	2,749.5	−0.041%	$383.8M	$606.8M	100x	as long as short
Bitget ETHUSDT	+0.0085%	8h	2,749	−0.059%	$2.07B	$2.86B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,750.6	−0.002%	$59.6M	$4.40B	50x	as long as short
Lighter ETH	+0.0096%	1h	2,749.8	−0.033%	$113.1M	$439.5M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,751.3	+0.023%	$25.0M	$106.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,750.7	+0.001%	—	$35.6M	500x	as long as short
Aftermath Perps ETHUSD	+0.0097%	1h	2,751.5	+0.030%	$30K	$21K	20x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,753.8	+0.115%	$15.9M	$8.2M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,749.8	−0.031%	$469K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,749.5	−0.042%	$14.0M	$113.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,751.6	+0.034%	$3.13B	$2.14B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,751.1	+0.017%	$31.6M	$333.7M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,749.6	−0.038%	$2.47B	$4.36B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,750.5	−0.006%	$2.8M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,751.2	+0.019%	$2.8M	$16.8M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,751.4	+0.026%	$167.5M	$300.9M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,748.4	−0.081%	$14.9M	$42.4M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,750	−0.024%	$133.2M	$346.7M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,752.9	+0.082%	$184.4M	$735.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,753.1	+0.089%	$160.1M	$82.7M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,752.3	+0.060%	$21.3M	$66.5M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,750.9	+0.008%	—	$871K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,749.2	−0.053%	$10.4M	$8.0M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,749.5	−0.043%	$183K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,750.6	−0.003%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,751.4	+0.027%	$42.0M	$29.0M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,750.3	−0.013%	$965K	$12.6M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,749.6	−0.038%	$54.8M	$187.6M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,749.6	−0.038%	$267.5M	$66.3M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,748.9	−0.063%	$30.8M	$74.6M	50x	as long as short
Kalshi KXETHPERP	+0.0135%	8h	2,751.2	+0.020%	$7.7M	$673.1M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0161%	8h	2,751.9	+0.044%	$32.4M	$11.3M	100x	as long as short
Hibachi ETH/USDT-P	+0.0176%	1h	2,752.2	+0.056%	$250K	$1.5M	20x	as long as short
BloFin ETH-USDT	+0.0180%	8h	2,752.8	+0.079%	$285.0M	$179.1M	150x	as long as short
Injective ETH/USDC PERP	+0.0209%	1h	2,750.5	−0.006%	$118K	$22.5M	52x	as long as short
Reya ETHRUSDPERP	+0.0217%	1h	2,749.3	−0.051%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0354%	1h	2,750.5	−0.004%	$92.9M	$315.9M	100x	as long as short