Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0037%/8h= +4.0% APRpaid last 24h +0.030%

Price spread now: Orderly against Vest+0.078%7-day average +0.061% · you sell dearer than you buy

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

Long on Vest Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.073%+$7 on $10k

Price spread, last 3 days (all we have)−0.038%−$4 · spread now +0.078%, 7d avg +0.061%

Together, before fees+0.035%+ Points / potential airdropVest: Active · farm board+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.061%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest ETH-PERP	2,777.6	0.0100	pay 0.0013% / 1h	17m 43s	—	$1.1M	50x
Short	Orderly PERP_ETH_USDC	2,779.8	0.0137	get 0.0137% / 8h	1h 17m	$32.6M	$12.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.078%Rate

Funding earned: $7.68
Price spread: +0.078% → +0.061%: $1.69
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Orderly: 3 bp × 2 orders: −$6
Net: $1.37
Costs to cover: 0.080%
Break-even: 5.8 days

Slippage unknown: Vest: no order-book sample; 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 Vest no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Vest and 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 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	2,776.6	−0.037%	$288K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,776.3	−0.048%	$5.7M	$12.1M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,778.6	+0.035%	$5K	$2K	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,779.6	+0.071%	$119K	$22.5M	52x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,777.3	−0.012%	$169K	$1.2M	50x	as long as short
Aftermath Perps ETHUSD	−0.0014%	1h	2,777.8	+0.007%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,777.1	−0.020%	$12.7M	$45.6M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,779.6	+0.071%	$886K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,777.9	+0.011%	$22.4M	—	200x	as long as short
BingX ETH-USDT	+0.0017%	8h	2,776.5	−0.042%	—	$1.18B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex ETHUSDT	+0.0019%	8h	2,777.3	−0.013%	$270.1M	$68.6M	150x	as long as short
OKX ETH-USDT-SWAP	+0.0019%	8h	2,775.7	−0.071%	$1.70B	$11.87B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0027% / S +0.0009%	1h	2,777.8	+0.008%	$13.0M	—	200x	as long as short
Bullet ETH-USD	+0.0039%	1h	2,777	−0.022%	$181K	$1.7M	20x	as long as short
Aster ETHUSDT	+0.0039%	8h	2,776.6	−0.036%	$256.6M	$991.8M	200x	as long as short
Nado ETH-PERP	+0.0059%	1h	2,776.8	−0.030%	$14.2M	$118.2M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0060%	1h	2,778.8	+0.043%	$258.4M	$222.3M	50x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,775.5	−0.075%	$5.0M	$636K	20x	as long as short
MEXC ETH_USDT	+0.0065%	8h	2,776	−0.060%	$1.62B	$2.67B	500x	as long as short
Binance ETHUSDT	+0.0066%	8h	2,776	−0.061%	$6.44B	$17.21B	150x	as long as short
Bitget ETHUSDT	+0.0069%	8h	2,775.9	−0.061%	$2.10B	$3.10B	150x	as long as short
ApeX Omni ETHUSDT	+0.0073%	1h	2,780.3	+0.094%	$8.8M	$32.6M	100x	as long as short
Gate ETH_USDT	+0.0073%	8h	2,776.6	−0.039%	$3.29B	$9.65B	200x	as long as short
SoDEX ETH-USD	+0.0078%	1h	2,777.3	−0.012%	$55.3M	$228.9M	40x	as long as short
Bybit ETHUSDT	+0.0093%	8h	2,775.9	−0.062%	$2.52B	$4.62B	150x	as long as short
HTX ETH-USDT	+0.0095%	8h	2,776.6	−0.037%	$1.08B	$1.32B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,776.4	−0.046%	$115.2M	$502.1M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,778	+0.012%	$25.4M	$121.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,779.1	+0.053%	—	$41.6M	500x	as long as short
KuCoin ETHUSDTM	+0.0098%	8h	2,775.8	−0.067%	$422.7M	$739.6M	100x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,775.5	−0.076%	$15.9M	$10.5M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,776.9	−0.026%	$478K	$2.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,778.7	+0.038%	$3.19B	$2.36B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,776.3	−0.048%	$31.3M	$302.0M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,777.1	−0.019%	$2.8M	$17.0M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,778	+0.013%	$2.7M	$17.5M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,778.9	+0.046%	$165.9M	$253.8M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,776.6	−0.037%	$15.2M	$44.3M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,778.6	+0.035%	$136.7M	$326.3M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,779.6	+0.072%	$181.9M	$783.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,780.8	+0.115%	$161.7M	$91.5M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,779	+0.049%	$21.5M	$58.1M	40x	as long as short
Vest ETH-PERPlong	+0.0100%	1h	2,777.6	long leg	—	$1.1M	50x
Polymarket Perps ETH-USD	+0.0100%	1h	2,778.2	+0.020%	$10.8M	$7.6M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,777.4	−0.009%	$21K	$24K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,779.3	+0.061%	$42.7M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,776	−0.060%	$974K	$14.0M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,775.6	−0.073%	$32.6M	$77.8M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,778.6	+0.035%	$60.0M	$4.61B	50x	as long as short
Kalshi KXETHPERP	+0.0126%	8h	2,778.1	+0.017%	$8.4M	$679.0M	4.9x	as long as short
Orderly PERP_ETH_USDCshort	+0.0137%	8h	2,779.8	+0.078%	$32.6M	$12.0M	100x
Kraken Futures PF_ETHUSD	+0.0169%	1h	2,778.4	+0.026%	$86.1M	$332.4M	100x	as long as short
BloFin ETH-USDT	+0.0185%	8h	2,776.9	−0.027%	$283.9M	$194.7M	150x	as long as short
Reya ETHRUSDPERP	+0.0193%	1h	2,776.7	−0.033%	$7.4M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0224%	1h	2,779.1	+0.053%	$271K	$1.5M	20x	as long as short