Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.010%

Price spread now: Polymarket Perps against SoDEX+0.044%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$170.173% of the position

Long on SoDEX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.029%+$3 on $10k

Price spread, last 4 days (all we have)−0.005%$0 · spread now +0.044%, 7d avg +0.027%

Together, before fees+0.024%+$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX ETH-USD	2,727	0.0100	pay 0.0013% / 1h	18m 42s	$54.3M	$182.7M	40x
Short	Polymarket Perps ETH-USD	2,728.2	0.0100	get 0.0013% / 1h	18m 42s	$11.2M	$9.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against SoDEX. 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 SoDEXbpFee Polymarket PerpsbpOrdersPrice spread, now +0.044%Rate

Funding earned: $0
Price spread: +0.044% → +0.027%: $1.74
Slippage, 4 orders: −$1.3
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$15.56
Costs to cover: 0.173%
Break-even: never at this rate

Slippage from SoDEX: live order book, 5 min ago; Polymarket Perps: live order book, 5 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 SoDEX live order book, 5 min ago	0.18 bp	4.2 bp −$4	4.2 bp −$42	5.5 bp −$553	28.5 bp −$14.2K
Sell Polymarket Perps live order book, 5 min ago	0.18 bp	4.5 bp −$4	4.9 bp −$49	13.3 bp −$1,325	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
Perpl ETH	−0.0447%	43m	2,725.5	−0.054%	$276K	$5.7M	8.3x	as long as short
BloFin ETH-USDT	−0.0177%	8h	2,726	−0.037%	$281.9M	$177.6M	150x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,724.2	−0.103%	$5K	$1K	50x	as long as short
Phoenix ETH	−0.0015%	1h	2,724.5	−0.092%	$808K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,727.1	+0.003%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,726.4	−0.022%	$10.5M	$41.9M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,725.9	−0.040%	$6.7M	$678.6M	4.9x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,727.7	+0.024%	$263.5M	$213.6M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,727.3	+0.012%	$32.9M	—	200x	as long as short
BingX ETH-USDT	+0.0017%	8h	2,726.2	−0.030%	—	$1.09B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0020%	8h	2,726.2	−0.028%	$2.32B	$4.34B	150x	as long as short
HTX ETH-USDT	+0.0031%	8h	2,726.5	−0.019%	$1.05B	$1.22B	200x	as long as short
01 Exchange ETHUSD	+0.0032%	1h	2,727.3	+0.011%	$190K	$884K	50x	as long as short
Injective ETH/USDC PERP	+0.0050%	1h	2,730.5	+0.128%	$166K	$21.6M	52x	as long as short
ApeX Omni ETHUSDT	+0.0051%	1h	2,722.5	−0.164%	$8.4M	$31.5M	100x	as long as short
Hibachi ETH/USDT-P	+0.0056%	1h	2,724.1	−0.105%	$241K	$1.4M	20x	as long as short
Kraken Futures PF_ETHUSD	+0.0060%	1h	2,727.5	+0.019%	$81.9M	$310.8M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0072%	8h	2,726.3	−0.025%	$1.65B	$10.79B	100x	as long as short
KuCoin ETHUSDTM	+0.0074%	8h	2,726.3	−0.028%	$382.1M	$577.5M	100x	as long as short
Aster ETHUSDT	+0.0077%	8h	2,726.1	−0.035%	$252.6M	$847.2M	200x	as long as short
MEXC ETH_USDT	+0.0088%	8h	2,726.3	−0.025%	$1.58B	$2.59B	500x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,724.9	−0.078%	$4.9M	$172K	20x	as long as short
Binance ETHUSDT	+0.0088%	8h	2,726.2	−0.031%	$6.30B	$16.12B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,726.5	−0.017%	$112.3M	$433.0M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,727.9	+0.033%	$23.4M	$102.4M	50x	as long as short
Phemex ETHUSDT	+0.0099%	8h	2,726.5	−0.018%	$262.7M	$64.5M	150x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,726.5	−0.018%	$500K	$3.6M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,730.9	+0.141%	$15.4M	$7.6M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,726.7	−0.010%	$14.0M	$104.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,728.6	+0.059%	$3.10B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,726.9	−0.003%	$32.1M	$333.3M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,726.3	−0.026%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,727.1	+0.003%	$1.6M	$16.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,726.5	−0.019%	$3.31B	$8.93B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,726.3	−0.026%	$2.11B	$2.77B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,726.3	−0.024%	$15.0M	$40.5M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,722.2	−0.175%	$133.6M	$316.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,721.7	−0.194%	$185.2M	$682.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,723.4	−0.131%	$158.3M	$81.9M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,724.1	−0.106%	$20.9M	$70.2M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,727.9	+0.033%	—	$445K	50x	as long as short
Polymarket Perps ETH-USDshort	+0.0100%	1h	2,728.2	+0.044%	$11.2M	$9.4M	50x
Bullet ETH-USD	+0.0100%	1h	2,726.9	−0.005%	$182K	$1.7M	20x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,728.4	+0.051%	$40.8M	$29.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,725.5	−0.054%	$956K	$10.8M	100x	as long as short
SoDEX ETH-USDlong	+0.0100%	1h	2,727	long leg	$54.3M	$182.7M	40x
Bulk ETH-USD	+0.0100%	1h	2,726.7	−0.010%	$161.2M	$356.8M	25x	as long as short
Aftermath Perps ETHUSD	+0.0100%	1h	2,725	−0.073%	$30K	$20K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,725.6	−0.050%	$30.4M	$71.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0056%	1h	2,727.3	+0.012%	—	$30.2M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,728.5	+0.053%	$46.6M	$4.28B	50x	as long as short
RISEx ETH/USDC	+0.0114%	1h	2,727.4	+0.015%	$5.6M	$11.7M	25x	as long as short
Reya ETHRUSDPERP	+0.0180%	1h	2,726.2	−0.031%	$7.3M	$972K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0184%	8h	2,729.3	+0.084%	$32.2M	$11.2M	100x	as long as short
Bluefin ETH-PERP	+0.0407%	1h	2,726.7	−0.012%	$20K	$23K	25x	as long as short