Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0011%/8h= −1.2% APRpaid last 24h +0.004%

Price spread now: KuCoin against RISEx−0.028%7-day average −0.005% · 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−$190.194% of the position

Long on RISEx Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.059%−$6 on $10k

Price spread, last 7 days+0.029%+$3 · spread now −0.028%, 7d avg −0.005%

Together, before fees−0.030%−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and KuCoin is 0.023% cheaper against RISEx than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.005%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx ETH/USDC	2,740.6	0.0077	pay 0.0010% / 1h	27m 13s	$5.6M	$11.2M	25x
Short	KuCoin ETHUSDTM	2,739.8	0.0066	get 0.0066% / 8h	5h 27m	$381.7M	$578.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.028%Rate

Funding earned: −$2.25
Price spread: −0.028% → −0.005%: −$2.32
Slippage, 4 orders: −$1.41
Fee RISEx: 3 bp × 2 orders: −$6
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$23.98
Costs to cover: 0.194%
Break-even: never at this rate

Slippage from RISEx: live order book, 2 min ago; KuCoin: live order book, 2 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, 2 min ago	0.02 bp	3.0 bp −$3	3.6 bp −$36	288.7 bp −$28.9K	doesn't fit
Sell KuCoin live order book, 2 min ago	0.02 bp	6.0 bp −$6	7.3 bp −$73	11.4 bp −$1,142	doesn't fit

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
Hotstuff ETH-PERP	−0.0080%	1h	2,741.2	+0.023%	$5K	$1K	50x	as long as short
Injective ETH/USDC PERP	−0.0044%	1h	2,742.7	+0.077%	$118K	$22.5M	52x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,739.2	−0.051%	$12.0M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,740.7	+0.004%	$10.8M	$41.8M	50x	as long as short
Perpl ETH	0.0000%	43m	2,739.6	−0.037%	$304K	$5.6M	8.3x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0008%	1h	2,739.3	−0.046%	$24.6M	—	200x	as long as short
Phoenix ETH	+0.0017%	1h	2,745.3	+0.172%	$848K	$2.9M	25x	as long as short
01 Exchange ETHUSD	+0.0032%	1h	2,741	+0.015%	$182K	$876K	50x	as long as short
ApeX Omni ETHUSDT	+0.0045%	1h	2,746.4	+0.211%	$8.9M	$30.9M	100x	as long as short
BingX ETH-USDT	+0.0052%	8h	2,738.6	−0.072%	—	$1.15B	—	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	+0.0064%	8h	2,739.5	−0.041%	$1.70B	$10.55B	100x	as long as short
KuCoin ETHUSDTMshort	+0.0066%	8h	2,739.8	−0.028%	$381.7M	$578.3M	100x
RISEx ETH/USDClong	+0.0077%	1h	2,740.6	long leg	$5.6M	$11.2M	25x
Bullet ETH-USD	+0.0078%	1h	2,739	−0.058%	$181K	$1.7M	20x	as long as short
Aster ETHUSDT	+0.0084%	8h	2,739.7	−0.033%	$252.4M	$841.1M	200x	as long as short
MEXC ETH_USDT	+0.0094%	8h	2,739.3	−0.048%	$1.56B	$2.54B	500x	as long as short
Binance ETHUSDT	+0.0095%	8h	2,738.9	−0.062%	$6.37B	$15.67B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,738.9	−0.063%	$112.6M	$434.1M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,740.6	0.000%	$24.6M	$103.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,740.5	−0.003%	—	$30.7M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,736.1	−0.164%	$4.9M	$155K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0096%	1h	2,739.7	−0.031%	$58.5M	$4.26B	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,744.4	+0.140%	$16.0M	$7.9M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,740.2	−0.014%	$469K	$3.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,740	−0.022%	$13.9M	$105.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,741.8	+0.045%	$3.11B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,740.9	+0.012%	$31.6M	$334.4M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,739	−0.056%	$2.45B	$4.17B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,740.3	−0.010%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,740.6	+0.002%	$2.7M	$16.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,741.5	+0.034%	$164.1M	$300.8M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,739	−0.059%	$3.38B	$8.73B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,738.8	−0.067%	$2.08B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,740.3	−0.012%	$15.0M	$40.8M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,745.6	+0.184%	$132.9M	$330.9M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,743.5	+0.105%	$182.3M	$671.8M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,743.8	+0.116%	$159.6M	$84.1M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,744.8	+0.154%	$21.2M	$67.8M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,740.9	+0.013%	—	$819K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,740.8	+0.008%	$11.0M	$8.8M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,740.6	−0.001%	$41.4M	$29.6M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,739.7	−0.033%	$960K	$11.5M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,738.4	−0.080%	$54.5M	$187.5M	40x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,738.5	−0.076%	$1.06B	$1.18B	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,739.4	−0.044%	$266.4M	$64.8M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,737.8	−0.103%	$30.6M	$72.1M	50x	as long as short
Aftermath Perps ETHUSD	+0.0128%	1h	2,743	+0.087%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0159%	8h	2,740.4	−0.007%	$7.4M	$669.9M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0191%	8h	2,741.1	+0.020%	$32.2M	$11.3M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0222%	1h	2,739.6	−0.037%	$86.8M	$309.9M	100x	as long as short
Reya ETHRUSDPERP	+0.0227%	1h	2,739.2	−0.052%	$7.3M	$1.1M	25x	as long as short
Deribit ETH-PERPETUAL	+0.0247%	1h	2,740.4	−0.008%	$259.7M	$197.8M	50x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,745.1	+0.164%	$252K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0378%	8h	2,738.9	−0.062%	$284.0M	$181.3M	150x	as long as short
Bluefin ETH-PERP	+0.0413%	1h	2,739.6	−0.037%	$21K	$20K	25x	as long as short