Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0108%/8h= +11.8% APRpaid last 24h +0.011%

Price spread now: Katana Perps against 01 Exchange−0.004%7-day average −0.023% · you buy dearer than you sell

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

Long on 01 Exchange Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.057%+$6 on $10k

Price spread, last 4 days (all we have)−0.035%−$4 · spread now −0.004%, 7d avg −0.023%

Together, before fees+0.022%+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.023%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange ETHUSD	2,770.5	−0.0008	get 0.0001% / 1h	26m 48s	$168K	$1.2M	50x
Short	Katana Perps ETH-USD	2,770.4	0.0100	get 0.0100% / 8h	26m 48s	$477K	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps 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 Katana PerpsbpOrdersPrice spread, now −0.004%Rate

Funding earned: $22.64
Price spread: −0.004% → −0.023%: $1.93
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $13.76
Costs to cover: 0.108%
Break-even: 2.7 days

Slippage unknown: 01 Exchange: live order book, 2 min ago; Katana Perps: 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 01 Exchange live order book, 2 min ago	0.18 bp	5.9 bp −$6	12.1 bp −$121	doesn't fit	doesn't fit
Sell Katana Perps no order-book sample	—	—	—	—	—

Katana Perps: 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	−0.0223%	43m	2,770.2	−0.012%	$286K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0206%	1h	2,770	−0.017%	$5.6M	$11.9M	25x	as long as short
Injective ETH/USDC PERP	−0.0088%	1h	2,781.9	+0.411%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,771	+0.018%	$5K	$2K	50x	as long as short
ApeX Omni ETHUSDT	−0.0032%	1h	2,772.4	+0.067%	$8.8M	$32.9M	100x	as long as short
01 Exchange ETHUSDlong	−0.0008%	1h	2,770.5	long leg	$168K	$1.2M	50x
dYdX ETH-USD	0.0000%	1h	2,769.9	−0.021%	$12.7M	$45.9M	50x	as long as short
Phoenix ETH	+0.0003%	1h	2,773.6	+0.112%	$877K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,772	+0.053%	$22.4M	—	200x	as long as short
Aftermath Perps ETHUSD	+0.0015%	1h	2,774.4	+0.141%	$29K	$22K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDT	+0.0016%	8h	2,771.4	+0.032%	—	$1.21B	—	as long as short
OKX ETH-USDT-SWAP	+0.0020%	8h	2,771.4	+0.034%	$1.70B	$11.86B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0026% / S +0.0009%	1h	2,771.6	+0.040%	$12.9M	—	200x	as long as short
Aster ETHUSDT	+0.0032%	8h	2,772	+0.054%	$256.3M	$1.00B	200x	as long as short
Phemex ETHUSDT	+0.0035%	8h	2,772.4	+0.070%	$270.3M	$69.0M	150x	as long as short
SoDEX ETH-USD	+0.0036%	1h	2,770.7	+0.007%	$55.2M	$229.0M	40x	as long as short
Bullet ETH-USD	+0.0049%	1h	2,770.3	−0.007%	$183K	$1.7M	20x	as long as short
MEXC ETH_USDT	+0.0060%	8h	2,771.6	+0.040%	$1.60B	$2.65B	500x	as long as short
Binance ETHUSDT	+0.0060%	8h	2,771.5	+0.036%	$6.45B	$17.30B	150x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,768.4	−0.075%	$5.0M	$636K	20x	as long as short
Deribit ETH-PERPETUAL	+0.0064%	1h	2,772.3	+0.066%	$259.0M	$222.4M	50x	as long as short
Bitget ETHUSDT	+0.0066%	8h	2,771.7	+0.044%	$2.10B	$3.10B	150x	as long as short
Gate ETH_USDT	+0.0071%	8h	2,771.8	+0.046%	$3.29B	$9.65B	200x	as long as short
KuCoin ETHUSDTM	+0.0084%	8h	2,772.4	+0.068%	$420.8M	$739.6M	100x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,772.5	+0.071%	$60.0M	$4.59B	50x	as long as short
Bybit ETHUSDT	+0.0090%	8h	2,771.4	+0.032%	$2.50B	$4.63B	150x	as long as short
Vest ETH-PERP	+0.0094%	1h	2,770.8	+0.011%	—	$1.1M	50x	as long as short
HTX ETH-USDT	+0.0096%	8h	2,771.5	+0.036%	$1.08B	$1.32B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,772.8	+0.081%	$115.2M	$499.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,773.1	+0.095%	$25.3M	$121.5M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,771.4	+0.032%	—	$42.0M	500x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,769.5	−0.036%	$15.9M	$10.2M	50x	as long as short
Katana Perps ETH-USDshort	+0.0100%	8h	2,770.4	−0.004%	$477K	$2.7M	50x
Nado ETH-PERP	+0.0100%	1h	2,769.7	−0.027%	$14.3M	$118.2M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,773.9	+0.123%	$3.19B	$2.35B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,770.3	−0.007%	$31.2M	$312.6M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,769.1	−0.051%	$2.8M	$17.2M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,770.8	+0.011%	$2.7M	$17.3M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,772.9	+0.087%	$167.0M	$259.0M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,772.6	+0.074%	$15.1M	$44.4M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,773.3	+0.100%	$147.8M	$336.1M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,772.2	+0.060%	$182.0M	$782.8M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,774.1	+0.131%	$161.3M	$89.3M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,772.8	+0.083%	$21.5M	$58.7M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,770.4	−0.004%	$10.7M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,771.5	+0.035%	$21K	$24K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,773.4	+0.105%	$42.7M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,770.7	+0.005%	$972K	$13.9M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,771.4	+0.031%	$32.5M	$78.0M	50x	as long as short
Kalshi KXETHPERP	+0.0115%	8h	2,771.8	+0.047%	$8.3M	$685.9M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0123%	1h	2,772	+0.054%	$86.4M	$333.7M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0141%	8h	2,774.1	+0.130%	$32.6M	$12.1M	100x	as long as short
BloFin ETH-USDT	+0.0180%	8h	2,770.9	+0.014%	$287.2M	$194.1M	150x	as long as short
Reya ETHRUSDPERP	+0.0202%	1h	2,770.1	−0.013%	$7.3M	$1.1M	25x	as long as short
Hibachi ETH/USDT-P	+0.0240%	1h	2,773.8	+0.119%	$252K	$1.6M	20x	as long as short