Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: edgeX against Vest−0.227%7-day average −0.046% · you buy dearer than you sell

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

Long on Vest Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.016%+$2 on $10k

Price spread, last 4 days (all we have)−0.058%−$6 · spread now −0.227%, 7d avg −0.046%

Together, before fees−0.042%+ Points / potential airdropVest: Active · edgeX: Active · farm board−$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: edgeX is 0.181% cheaper against Vest than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of −0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest ETH-PERP	2,727.9	0.0100	pay 0.0013% / 1h	19m 04s	—	$445K	50x
Short	edgeX ETHUSDC	2,721.7	0.0100	get 0.0050% / 4h	19m 04s	$185.2M	$682.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Vest. 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 VestbpFee edgeXbpOrdersPrice spread, now −0.227%Rate

Funding earned: $0
Price spread: −0.227% → −0.046%: −$18.1
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$29.1
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; edgeX: live order book, 5 min ago. 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 Vest no order-book sample	—	—	—	—	—
Sell edgeX live order book, 5 min ago	0.07 bp	4.9 bp −$5	4.9 bp −$49	5.0 bp −$504	6.3 bp −$3,139

Vest: 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 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	−0.087%	$276K	$5.7M	8.3x	as long as short
BloFin ETH-USDT	−0.0177%	8h	2,726	−0.070%	$281.9M	$177.6M	150x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,724.2	−0.136%	$5K	$1K	50x	as long as short
Phoenix ETH	−0.0015%	1h	2,724.5	−0.125%	$808K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,727.1	−0.031%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,725	−0.106%	$10.5M	$41.9M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,725.9	−0.074%	$6.7M	$678.6M	4.9x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,727.7	−0.009%	$263.5M	$213.6M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,727.3	−0.021%	$32.9M	—	200x	as long as short
BingX ETH-USDC	+0.0017%	8h	2,726.3	−0.059%	—	$18.7M	—	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	2,726.7	−0.043%	$2.32B	$4.34B	150x	as long as short
HTX ETH-USDT	+0.0031%	8h	2,726.5	−0.052%	$1.05B	$1.22B	200x	as long as short
01 Exchange ETHUSD	+0.0032%	1h	2,727.3	−0.022%	$190K	$884K	50x	as long as short
Injective ETH/USDC PERP	+0.0050%	1h	2,730.5	+0.095%	$166K	$21.6M	52x	as long as short
ApeX Omni ETHUSDT	+0.0051%	1h	2,722.5	−0.198%	$8.4M	$31.5M	100x	as long as short
Hibachi ETH/USDT-P	+0.0056%	1h	2,724.1	−0.139%	$241K	$1.4M	20x	as long as short
Kraken Futures PF_ETHUSD	+0.0060%	1h	2,727.5	−0.014%	$81.9M	$310.8M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0072%	8h	2,726.9	−0.038%	$1.65B	$10.80B	100x	as long as short
KuCoin ETHUSDTM	+0.0074%	8h	2,727	−0.034%	$382.3M	$577.5M	100x	as long as short
Aster ETHUSDT	+0.0076%	8h	2,726.5	−0.051%	$252.6M	$847.3M	200x	as long as short
MEXC ETH_USDT	+0.0088%	8h	2,727	−0.034%	$1.58B	$2.59B	500x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,724.9	−0.111%	$4.9M	$172K	20x	as long as short
Binance ETHUSDT	+0.0088%	8h	2,726.8	−0.042%	$6.31B	$16.12B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,727.4	−0.020%	$112.3M	$433.0M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,728.6	+0.026%	$23.4M	$102.4M	50x	as long as short
Phemex ETHUSDT	+0.0099%	8h	2,726.5	−0.051%	$262.7M	$64.5M	150x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,726.5	−0.052%	$500K	$3.6M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,729.8	+0.071%	$15.3M	$7.6M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,726.7	−0.043%	$14.0M	$104.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,729.1	+0.044%	$3.11B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,726.3	−0.058%	$32.1M	$333.3M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,725.6	−0.085%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,727.1	−0.030%	$1.6M	$16.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,727	−0.033%	$3.31B	$8.93B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,727	−0.033%	$2.11B	$2.77B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,726.3	−0.057%	$15.0M	$40.5M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,722.2	−0.208%	$133.6M	$316.4M	—	as long as short
edgeX ETHUSDCshort	+0.0100%	4h	2,721.7	−0.227%	$185.2M	$682.4M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,723.4	−0.164%	$158.3M	$81.9M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,724.1	−0.140%	$20.9M	$70.2M	40x	as long as short
Vest ETH-PERPlong	+0.0100%	1h	2,727.9	long leg	—	$445K	50x
Polymarket Perps ETH-USD	+0.0100%	1h	2,728.2	+0.011%	$11.2M	$9.4M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,726.9	−0.038%	$182K	$1.7M	20x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,724.6	−0.120%	$40.8M	$29.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,725.5	−0.087%	$956K	$10.8M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,727	−0.033%	$54.3M	$182.7M	40x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,726.7	−0.043%	$161.2M	$356.8M	25x	as long as short
Aftermath Perps ETHUSD	+0.0100%	1h	2,725	−0.106%	$30K	$20K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,726.1	−0.068%	$30.4M	$71.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0056%	1h	2,727.3	−0.021%	—	$30.2M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,728.5	+0.020%	$46.6M	$4.28B	50x	as long as short
RISEx ETH/USDC	+0.0114%	1h	2,727.4	−0.018%	$5.6M	$11.7M	25x	as long as short
Reya ETHRUSDPERP	+0.0180%	1h	2,726.2	−0.064%	$7.3M	$972K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0184%	8h	2,729.3	+0.051%	$32.2M	$11.2M	100x	as long as short
Bluefin ETH-PERP	+0.0407%	1h	2,726.7	−0.045%	$20K	$23K	25x	as long as short