Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0089%/8h= +9.7% APRpaid last 24h +0.023%

Price spread now: Orderly against StandX+0.045%7-day average +0.066% · you sell dearer than you buy

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

Long on StandX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.180%+$18 on $10k

Price spread, last 4 days (all we have)+0.004%$0 · spread now +0.045%, 7d avg +0.066%

Together, before fees+0.184%+ Points / potential airdropStandX: Active · farm board+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. Orderly is 0.021% cheaper against StandX than usual: you would sell low and buy high (spread +0.045% now, against its 7-day average of +0.066%). If the spread goes back, that is −$2 on $10k: about 19 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	StandX ETH-USD	2,740.6	0.0100	pay 0.0013% / 1h	49m 57s	$21.0M	$76.3M	40x
Short	Orderly PERP_ETH_USDC	2,741.8	0.0189	get 0.0189% / 8h	4h 49m	$32.4M	$9.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against StandX. 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 StandXbpFee OrderlybpOrdersPrice spread, now +0.045%Rate

Funding earned: $18.68
Price spread: +0.045% → +0.066%: −$2.12
Slippage, 4 orders: no order book: not counted
Fee StandX: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: $2.57
Costs to cover: 0.140%
Break-even: 6.0 days

Slippage unknown: StandX: live order book, 2 min ago; Orderly: no order-book sample. 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 StandX live order book, 2 min ago	0.91 bp	5.3 bp −$5	5.8 bp −$58	6.7 bp −$673	10.4 bp −$5,188
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 exchanges

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	2,742.5	+0.069%	$5K	$1K	50x	as long as short
Hibachi ETH/USDT-P	−0.0056%	1h	2,740	−0.023%	$231K	$1.2M	20x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0009% / S +0.0043%	1h	2,741.9	+0.048%	$12.2M	—	200x	as long as short
Phoenix ETH	−0.0009%	1h	2,742.6	+0.073%	$819K	$2.8M	25x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,739.9	−0.026%	$7.4M	$656.1M	4.9x	as long as short
Perpl ETH	0.0000%	43m	2,741	+0.014%	$269K	$4.9M	8.3x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,742	+0.050%	$33.1M	—	200x	as long as short
Bybit ETHUSDT	+0.0046%	8h	2,737.9	−0.100%	$2.37B	$3.77B	150x	as long as short
01 Exchange ETHUSD	+0.0048%	1h	2,741.4	+0.029%	$182K	$907K	50x	as long as short
OKX ETH-USDT-SWAP	+0.0072%	8h	2,737.3	−0.119%	$1.67B	$9.01B	100x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX ETH-USD	+0.0083%	1h	2,739.6	−0.038%	$15.2M	$42.4M	50x	as long as short
ApeX Omni ETHUSDT	+0.0085%	1h	2,743.8	+0.117%	$8.2M	$25.0M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0086%	1h	2,740.4	−0.007%	$267.1M	$180.4M	50x	as long as short
KuCoin ETHUSDTM	+0.0092%	8h	2,737.9	−0.098%	$378.0M	$433.6M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,738.4	−0.079%	$113.6M	$381.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,737.9	−0.100%	$23.5M	$93.3M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,741.5	+0.034%	—	$23.3M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,739.6	−0.037%	$4.9M	$247K	20x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,739.7	−0.033%	$516K	$3.5M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,739.2	−0.050%	$14.9M	$93.5M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,740.1	−0.018%	$3.14B	$1.67B	25x	as long as short
Aster ETHUSDT	+0.0100%	8h	2,738.5	−0.075%	$254.8M	$700.4M	200x	as long as short
Pacifica ETH	+0.0100%	1h	2,740	−0.021%	$32.0M	$320.6M	50x	as long as short
Binance ETHUSDT	+0.0100%	8h	2,738.5	−0.077%	$6.41B	$13.68B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,739.7	−0.033%	$2.8M	$14.0M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,741.4	+0.027%	$1.6M	$14.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,743.8	+0.117%	$163.0M	$315.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,737.8	−0.104%	$3.26B	$7.60B	200x	as long as short
MEXC ETH_USDT	+0.0100%	8h	2,736.9	−0.136%	$1.59B	$2.29B	500x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,737	−0.131%	$2.11B	$2.26B	150x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,737.5	−0.114%	—	$936.3M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,737.3	−0.120%	$15.0M	$35.0M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,738.7	−0.069%	$133.6M	$273.6M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,742.3	+0.060%	$184.5M	$556.8M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,743.7	+0.113%	$159.5M	$69.7M	50x	as long as short
StandX ETH-USDlong	+0.0100%	1h	2,740.6	long leg	$21.0M	$76.3M	40x
Vest ETH-PERP	+0.0100%	1h	2,742	+0.050%	—	$316K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,742.6	+0.073%	$11.2M	$8.6M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,741.8	+0.042%	$176K	$1.6M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,739.1	−0.056%	$20K	$7K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,741.2	+0.021%	$40.9M	$25.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,737.6	−0.111%	$943K	$8.2M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,739.6	−0.036%	$61.7M	$121.7M	40x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,737.9	−0.100%	$1.05B	$993.1M	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,737.2	−0.123%	$262.6M	$56.2M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,736	−0.167%	$30.2M	$63.7M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,738.5	−0.077%	$47.6M	$3.86B	50x	as long as short
Aftermath Perps ETHUSD	+0.0114%	1h	2,741.8	+0.045%	$30K	$8K	20x	as long as short
Kraken Futures PF_ETHUSD	+0.0120%	1h	2,738.4	−0.081%	$82.5M	$265.1M	100x	as long as short
Reya ETHRUSDPERP	+0.0145%	1h	2,740.4	−0.008%	$7.3M	$854K	25x	as long as short
Orderly PERP_ETH_USDCshort	+0.0189%	8h	2,741.8	+0.045%	$32.4M	$9.9M	100x
RISEx ETH/USDC	+0.0342%	1h	2,741.3	+0.026%	$5.7M	$10.4M	25x	as long as short
BloFin ETH-USDT	+0.0400%	8h	2,739	−0.058%	$285.1M	$146.9M	150x	as long as short
Paradex ETH-USD-PERP	+0.0451%	8h	2,741.4	+0.030%	$15.8M	$6.1M	50x	as long as short
Injective ETH/USDC PERP	+0.0477%	1h	2,743.8	+0.117%	$118K	$25.0M	52x	as long as short