Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0132%/8h= +14.5% APRpaid last 24h +0.012%

Price spread now: edgeX against 01 Exchange+0.236%57s7-day average −0.021% · 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—prices read too far apart to compare

costs, in and out, $10k−$220.222% of the position

Long on 01 Exchange Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.062%+$6 on $10k

Price spread, last 4 days (all we have)+0.051%+$5 · spread now +0.236%, 7d avg −0.021%

Together, before fees+0.113%+ Points / potential airdropedgeX: Active · farm board+$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and edgeX is 0.257% dearer against 01 Exchange than usual: you sell high and buy low: +$26 more if the spread goes back to its 7-day average of −0.021%. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange ETHUSD	2,766.7	−0.0032	get 0.0004% / 1h	5m 40s	$169K	$1.1M	50x
Short	edgeX ETHUSDC	2,773.2	0.0100	get 0.0050% / 4h	3h 05m	$184.0M	$750.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against 01 Exchange. 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 01 ExchangebpFee edgeXbpOrdersPrice spread, now +0.236%Rate

Funding earned: $27.72
Price spread: +0.236% → −0.021%: $25.68
Slippage, 4 orders: −$6.19
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $31.21
Costs to cover: 0.222%
Break-even: from the start

Slippage from 01 Exchange: live order book, 4 min ago; edgeX: live order book, 4 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 01 Exchange live order book, 4 min ago	0.18 bp	6.2 bp −$6	12.5 bp −$125	doesn't fit	doesn't fit
Sell edgeX live order book, 4 min ago	0.04 bp	6.0 bp −$6	6.2 bp −$62	6.3 bp −$628	7.5 bp −$3,742

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
Injective ETH/USDC PERP	−0.0752%	1h	2,773.8	+0.257%	$119K	$22.5M	52x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,767.3	+0.022%	$5.6M	$11.2M	25x	as long as short
Perpl ETH	−0.0112%	43m	2,767.3	+0.021%	$322K	$6.2M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,769	+0.083%	$5K	$1K	50x	as long as short
01 Exchange ETHUSDlong	−0.0032%	1h	2,766.7	long leg	$169K	$1.1M	50x
Phoenix ETH	−0.0003%	1h	2,770.8	+0.148%	$872K	$3.7M	25x	as long as short
dYdX ETH-USD	+0.0001%	1h	2,767.1	+0.013%	$12.2M	$43.0M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,767.2	+0.020%	$22.4M	—	200x	as long as short
Bullet ETH-USD	+0.0016%	1h	2,766.6	−0.004%	$184K	$1.7M	20x	as long as short
OKX ETH-USDT-SWAP	+0.0033%	8h	2,767.1	+0.013%	$1.70B	$10.95B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex ETHUSDT	+0.0036%	8h	2,767.6	+0.032%	$269.3M	$65.8M	150x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0043% / S −0.0009%	1h	2,767	+0.012%	$12.7M	—	200x	as long as short
SoDEX ETH-USD	+0.0048%	1h	2,767.1	+0.014%	$55.1M	$187.7M	40x	as long as short
Aster ETHUSDT	+0.0049%	8h	2,767	+0.012%	$260.6M	$849.5M	200x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,765.3	−0.049%	$5.0M	$156K	20x	as long as short
Binance ETHUSDT	+0.0059%	8h	2,766.8	+0.003%	$6.47B	$16.03B	150x	as long as short
MEXC ETH_USDT	+0.0059%	8h	2,766.8	+0.003%	$1.61B	$2.66B	500x	as long as short
Aftermath Perps ETHUSD	+0.0072%	1h	2,771	+0.155%	$31K	$21K	20x	as long as short
HTX ETH-USDT	+0.0074%	8h	2,767.6	+0.033%	$1.07B	$1.22B	200x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,768.6	+0.069%	$60.3M	$4.40B	50x	as long as short
Bitget ETHUSDT	+0.0081%	8h	2,767.3	+0.020%	$2.10B	$2.82B	150x	as long as short
Gate ETH_USDT	+0.0082%	8h	2,767.2	+0.017%	$3.40B	$9.12B	200x	as long as short
Vest ETH-PERP	+0.0086%	1h	2,768	+0.048%	—	$870K	50x	as long as short
KuCoin ETHUSDTM	+0.0089%	8h	2,767.2	+0.016%	$419.8M	$589.3M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,767.5	+0.028%	$115.0M	$460.3M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,768.6	+0.069%	$25.5M	$112.2M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,771.7	+0.182%	$15.9M	$8.2M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,767	+0.011%	$486K	$2.8M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,766.7	−0.002%	$14.5M	$112.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,769.5	+0.101%	$3.16B	$2.10B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,767.5	+0.027%	$31.3M	$328.9M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,767.2	+0.018%	$2.50B	$4.27B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,766.5	−0.007%	$2.8M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,767.8	+0.038%	$2.8M	$16.7M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,771.7	+0.181%	$172.0M	$293.3M	25x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,766.5	−0.006%	—	$17.3M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,766.6	−0.003%	$15.0M	$42.3M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,766.4	−0.011%	$134.4M	$347.2M	—	as long as short
edgeX ETHUSDCshort	+0.0100%	4h	2,773.2	+0.236%	$184.0M	$750.7M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,772.6	+0.213%	$161.2M	$83.8M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,773.5	+0.247%	$8.9M	$31.4M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,771.4	+0.170%	$21.4M	$64.4M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,766.4	−0.011%	$10.5M	$7.9M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,767.2	+0.016%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,768.5	+0.065%	$42.5M	$28.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,766.1	−0.021%	$969K	$12.7M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,766.4	−0.010%	$30.9M	$74.4M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,770.3	+0.129%	—	$35.9M	500x	as long as short
Kalshi KXETHPERP	+0.0119%	8h	2,768.7	+0.072%	$8.1M	$673.3M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,769	+0.083%	$97.8M	$314.5M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0157%	8h	2,769	+0.082%	$32.6M	$11.0M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0158%	1h	2,768.9	+0.079%	$259.1M	$201.5M	50x	as long as short
Hibachi ETH/USDT-P	+0.0160%	1h	2,771.8	+0.184%	$253K	$1.5M	20x	as long as short
BloFin ETH-USDT	+0.0180%	8h	2,770.2	+0.128%	$287.4M	$175.1M	150x	as long as short
Reya ETHRUSDPERP	+0.0215%	1h	2,766.6	−0.003%	$7.3M	$1.1M	25x	as long as short