Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.014%

Price spread now: 01 Exchange against SunX+0.086%7-day average +0.042% · 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−$22as in the Price arb table

costs, in and out, $10k−$260.261% of the position

Long on SunX Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.048%−$5 on $10k

Price spread, last 4 days (all we have)+0.183%+$18 · spread now +0.086%, 7d avg +0.042%

Together, before fees+0.135%+$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. 01 Exchange is 0.043% dearer against SunX than usual: you sell high and buy low (spread +0.086% now, against its 7-day average of +0.042%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ETH-USDT	2,744.9	0.0100	pay 0.0100% / 8h	5h 31m	$962K	$11.5M	100x
Short	01 Exchange ETHUSD	2,747.2	0.0032	get 0.0004% / 1h	31m 29s	$182K	$914K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange against SunX. 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 SunXbpFee 01 ExchangebpOrdersPrice spread, now +0.086%Rate

Funding earned: −$14.28
Price spread: +0.086% → +0.042%: $4.32
Slippage, 4 orders: −$11.07
Fee SunX: 4 bp × 2 orders: −$8
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$36.03
Costs to cover: 0.261%
Break-even: never at this rate

Slippage from SunX: live order book, 8 min ago; 01 Exchange: live order book, 33 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 SunX live order book, 8 min ago	0.93 bp	6.4 bp −$6	6.4 bp −$64	9.1 bp −$906	13.1 bp −$6,572
Sell 01 Exchange live order book, 33 min ago	0.18 bp	9.0 bp −$9	13.1 bp −$131	doesn't fit	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	2,745.8	+0.035%	$5K	$1K	50x	as long as short
Injective ETH/USDC PERP	−0.0044%	1h	2,743.1	−0.064%	$118K	$22.5M	52x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,746.3	+0.054%	$12.1M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,745.1	+0.009%	$10.8M	$41.8M	50x	as long as short
Perpl ETH	0.0000%	43m	2,746.5	+0.062%	$305K	$5.6M	8.3x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,746.5	+0.059%	$22.2M	—	200x	as long as short
Phoenix ETH	+0.0017%	1h	2,745.2	+0.013%	$848K	$2.9M	25x	as long as short
01 Exchange ETHUSDshort	+0.0032%	1h	2,747.2	+0.086%	$182K	$914K	50x
ApeX Omni ETHUSDT	+0.0046%	1h	2,741.3	−0.129%	$8.9M	$30.9M	100x	as long as short
BingX ETH-USDC	+0.0050%	8h	2,745.6	+0.027%	—	$18.4M	—	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	+0.0065%	8h	2,746.4	+0.055%	$1.70B	$10.58B	100x	as long as short
KuCoin ETHUSDTM	+0.0065%	8h	2,746.5	+0.061%	$383.6M	$583.9M	100x	as long as short
RISEx ETH/USDC	+0.0077%	1h	2,746.9	+0.074%	$5.7M	$11.2M	25x	as long as short
Bullet ETH-USD	+0.0081%	1h	2,745.9	+0.039%	$182K	$1.7M	20x	as long as short
Aster ETHUSDT	+0.0083%	8h	2,746.1	+0.047%	$252.5M	$840.9M	200x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,743.9	−0.034%	$4.9M	$155K	20x	as long as short
MEXC ETH_USDT	+0.0091%	8h	2,746.2	+0.048%	$1.56B	$2.54B	500x	as long as short
Binance ETHUSDT	+0.0091%	8h	2,746.1	+0.045%	$6.38B	$15.68B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,745.9	+0.040%	$112.8M	$433.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,747.3	+0.089%	$24.7M	$103.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,745.3	+0.018%	—	$30.7M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0096%	1h	2,745.8	+0.035%	$58.7M	$4.27B	50x	as long as short
HTX ETH-USDT	+0.0099%	8h	2,744.2	−0.024%	$1.06B	$1.18B	200x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,750.6	+0.211%	$16.0M	$7.9M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,745.8	+0.035%	$469K	$3.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,746.6	+0.066%	$13.9M	$105.4M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,748.5	+0.133%	$3.12B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,746.3	+0.052%	$31.7M	$335.1M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,746.2	+0.049%	$2.46B	$4.17B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,745.8	+0.035%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,746.8	+0.071%	$2.7M	$16.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,741.5	−0.121%	$164.1M	$300.8M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,746.3	+0.054%	$3.39B	$8.73B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,746.1	+0.047%	$2.08B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,743.8	−0.038%	$15.0M	$40.9M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,740.7	−0.152%	$132.6M	$333.6M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,743.5	−0.049%	$182.3M	$691.1M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,744.9	+0.002%	$159.6M	$84.1M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,744.8	−0.002%	$21.2M	$68.0M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,746.8	+0.072%	—	$819K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,747.4	+0.093%	$11.0M	$8.8M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,746.4	+0.058%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,746.1	+0.044%	$41.5M	$29.6M	15x	as long as short
SunX ETH-USDTlong	+0.0100%	8h	2,744.9	long leg	$962K	$11.5M	100x
SoDEX ETH-USD	+0.0100%	1h	2,744.3	−0.020%	$54.7M	$187.5M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,744.2	−0.022%	$266.9M	$65.1M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,745.1	+0.011%	$30.6M	$72.3M	50x	as long as short
Aftermath Perps ETHUSD	+0.0131%	1h	2,743.5	−0.051%	$30K	$20K	20x	as long as short
Deribit ETH-PERPETUAL	+0.0133%	1h	2,745.7	+0.030%	$258.8M	$195.9M	50x	as long as short
Kalshi KXETHPERP	+0.0159%	8h	2,745.6	+0.027%	$7.6M	$669.4M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0190%	8h	2,748.5	+0.132%	$32.3M	$11.3M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0221%	1h	2,745.4	+0.020%	$87.0M	$310.1M	100x	as long as short
Reya ETHRUSDPERP	+0.0227%	1h	2,745.7	+0.031%	$7.3M	$1.1M	25x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,746.5	+0.061%	$252K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0292%	8h	2,745.4	+0.020%	$285.2M	$182.1M	150x	as long as short