Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0097%/8h= −10.6% APRpaid last 24h −0.003%

Price spread now: BingX against RISEx−0.048%7-day average −0.009% · 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−$21as in the Price arb table

costs, in and out, $10k−$170.167% of the position

Long on RISEx Short on BingX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.064%−$6 on $10k

Price spread, last 7 days+0.055%+$5 · spread now −0.048%, 7d avg −0.009%

Together, before fees−0.009%−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and BingX is 0.039% cheaper against RISEx than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.009%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx ETH/USDC	2,724.3	0.0114	pay 0.0014% / 1h	20m 55s	$5.6M	$11.7M	25x
Short	BingX ETH-USDT	2,723	0.0017	get 0.0017% / 8h	20m 55s	—	$1.08B	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.048%Rate

Funding earned: −$20.28
Price spread: −0.048% → −0.009%: −$3.88
Slippage, 4 orders: −$0.73
Fee RISEx: 3 bp × 2 orders: −$6
Fee BingX: 5 bp × 2 orders: −$10
Net: −$40.89
Costs to cover: 0.167%
Break-even: never at this rate

Slippage from RISEx: live order book, 3 min ago; BingX: live order book, 8 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	3.0 bp −$3	4.2 bp −$42	279.7 bp −$28.0K	doesn't fit
Sell BingX live order book, 8 min ago	0.04 bp	5.0 bp −$5	5.4 bp −$54	5.9 bp −$592	6.9 bp −$3,461

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	2,723.7	−0.024%	$275K	$5.7M	8.3x	as long as short
BloFin ETH-USDT	−0.0176%	8h	2,722.4	−0.072%	$281.5M	$177.3M	150x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,723.7	−0.022%	$5K	$1K	50x	as long as short
Phoenix ETH	−0.0015%	1h	2,724.3	0.000%	$808K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,723.4	−0.033%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,723.6	−0.027%	$10.5M	$41.9M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,723.7	−0.022%	$6.7M	$679.5M	4.9x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,723.4	−0.034%	$262.7M	$212.5M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,723.4	−0.033%	$32.9M	—	200x	as long as short
BingX ETH-USDTshort	+0.0017%	8h	2,723	−0.048%	—	$1.08B	—

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0020%	8h	2,722.8	−0.055%	$2.31B	$4.34B	150x	as long as short
HTX ETH-USDT	+0.0031%	8h	2,722.4	−0.069%	$1.05B	$1.22B	200x	as long as short
01 Exchange ETHUSD	+0.0032%	1h	2,723.9	−0.015%	$190K	$884K	50x	as long as short
Injective ETH/USDC PERP	+0.0050%	1h	2,728.7	+0.161%	$200K	$21.5M	52x	as long as short
ApeX Omni ETHUSDT	+0.0051%	1h	2,722.5	−0.066%	$8.4M	$31.5M	100x	as long as short
Hibachi ETH/USDT-P	+0.0056%	1h	2,724.2	−0.003%	$241K	$1.4M	20x	as long as short
Kraken Futures PF_ETHUSD	+0.0060%	1h	2,723	−0.046%	$81.7M	$310.8M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0072%	8h	2,723.1	−0.045%	$1.65B	$10.78B	100x	as long as short
KuCoin ETHUSDTM	+0.0073%	8h	2,722.4	−0.071%	$381.6M	$577.6M	100x	as long as short
Aster ETHUSDT	+0.0077%	8h	2,722.9	−0.050%	$252.3M	$847.5M	200x	as long as short
MEXC ETH_USDT	+0.0088%	8h	2,723.2	−0.039%	$1.58B	$2.58B	500x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,720.8	−0.129%	$4.9M	$172K	20x	as long as short
Binance ETHUSDT	+0.0088%	8h	2,723	−0.047%	$6.30B	$16.13B	150x	as long as short
SoDEX ETH-USD	+0.0095%	1h	2,722.4	−0.070%	$54.2M	$182.7M	40x	as long as short
Lighter ETH	+0.0096%	1h	2,723.1	−0.044%	$112.0M	$432.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,724.3	0.000%	$23.4M	$102.4M	50x	as long as short
Aftermath Perps ETHUSD	+0.0099%	1h	2,724.4	+0.002%	$30K	$20K	20x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,723.7	−0.022%	$499K	$3.6M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,728.1	+0.141%	$15.3M	$7.6M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,723.5	−0.029%	$14.1M	$104.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,724.8	+0.018%	$3.10B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,724.6	+0.009%	$31.9M	$333.5M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,723.3	−0.037%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,724.1	−0.006%	$1.6M	$16.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,723.3	−0.038%	$3.31B	$8.93B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,723.3	−0.037%	$2.10B	$2.76B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,722.3	−0.075%	$14.9M	$40.5M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,722	−0.086%	$133.5M	$316.5M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,721.7	−0.095%	$185.2M	$682.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,722.8	−0.054%	$158.2M	$81.9M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,723.1	−0.044%	$20.9M	$70.2M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,724.9	+0.021%	—	$445K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,724.6	+0.011%	$11.2M	$9.4M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,723.1	−0.044%	$183K	$1.7M	20x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,724.6	+0.013%	$40.8M	$29.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,723.1	−0.045%	$955K	$10.8M	100x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,722.7	−0.060%	$262.3M	$64.4M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,727.2	+0.106%	$162.8M	$356.2M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,722.5	−0.065%	$30.4M	$71.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0056%	1h	2,723.5	−0.030%	—	$30.2M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,723.8	−0.018%	$46.6M	$4.27B	50x	as long as short
RISEx ETH/USDClong	+0.0114%	1h	2,724.3	long leg	$5.6M	$11.7M	25x
Reya ETHRUSDPERP	+0.0180%	1h	2,722.1	−0.081%	$7.3M	$972K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0184%	8h	2,725.2	+0.034%	$32.1M	$11.2M	100x	as long as short
Bluefin ETH-PERP	+0.0462%	1h	2,723.4	−0.032%	$20K	$23K	25x	as long as short