Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0043%/8h= +4.7% APRpaid last 24h +0.013%

Price spread now: KuCoin against 01 Exchange−0.086%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$270.274% of the position

Long on 01 Exchange Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.010%+$1 on $10k

Price spread, last 7 days+0.114%+$11 · spread now −0.086%, 7d avg +0.007%

Together, before fees+0.123%+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.092% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.086% now, against its 7-day average of +0.007%). If the spread goes back, that is −$9 on $10k: about 7.2 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.010% in total) that is about 35 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange ETHUSD	2,721.5	0.0032	pay 0.0004% / 1h	29m 17s	$190K	$791K	50x
Short	KuCoin ETHUSDTM	2,719.2	0.0075	get 0.0075% / 8h	2h 29m	$374.6M	$577.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.086%Rate

Funding earned: $9.03
Price spread: −0.086% → +0.007%: −$9.24
Slippage, 4 orders: −$8.41
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$27.62
Costs to cover: 0.274%
Break-even: 28.4 days

Slippage from 01 Exchange: live order book, 20 min ago; KuCoin: live order book, 5 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, 20 min ago	0.18 bp	6.6 bp −$7	10.4 bp −$104	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	0.02 bp	9.2 bp −$9	10.7 bp −$107	12.3 bp −$1,234	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
Perpl ETH	−0.0447%	43m	2,720.2	−0.049%	$282K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,719.9	−0.059%	$5K	$1K	50x	as long as short
HTX ETH-USDT	−0.0011%	8h	2,718.5	−0.112%	$1.05B	$1.21B	200x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,720.3	−0.043%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0009%	1h	2,719.7	−0.066%	$814K	$3.0M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,720.6	−0.034%	$30.9M	—	200x	as long as short
Injective ETH/USDC PERP	+0.0009%	1h	2,719.1	−0.088%	$117K	$22.5M	52x	as long as short
dYdX ETH-USD	+0.0010%	1h	2,720.4	−0.041%	$10.7M	$42.0M	50x	as long as short
01 Exchange ETHUSDlong	+0.0032%	1h	2,721.5	long leg	$190K	$791K	50x
BingX ETH-USDT	+0.0033%	8h	2,719.1	−0.088%	—	$1.14B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0042%	8h	2,719.1	−0.089%	$2.35B	$4.41B	150x	as long as short
Deribit ETH-PERPETUAL	+0.0062%	1h	2,721	−0.017%	$258.8M	$206.5M	50x	as long as short
SunX ETH-USDT	+0.0067%	8h	2,720.3	−0.046%	$955K	$11.2M	100x	as long as short
ApeX Omni ETHUSDT	+0.0069%	1h	2,717.6	−0.145%	$8.6M	$31.3M	100x	as long as short
Bullet ETH-USD	+0.0072%	1h	2,720	−0.054%	$180K	$1.7M	20x	as long as short
KuCoin ETHUSDTMshort	+0.0075%	8h	2,719.2	−0.086%	$374.6M	$577.7M	100x
Aftermath Perps ETHUSD	+0.0075%	1h	2,720.8	−0.027%	$30K	$20K	20x	as long as short
Aster ETHUSDT	+0.0084%	8h	2,719	−0.093%	$251.6M	$843.6M	200x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,717.5	−0.147%	$4.9M	$155K	20x	as long as short
MEXC ETH_USDT	+0.0091%	8h	2,719	−0.092%	$1.56B	$2.58B	500x	as long as short
Binance ETHUSDT	+0.0091%	8h	2,719.2	−0.085%	$6.29B	$16.07B	150x	as long as short
OKX ETH-USDT-SWAP	+0.0093%	8h	2,719.3	−0.082%	$1.66B	$10.78B	100x	as long as short
Phemex ETHUSDT	+0.0095%	8h	2,719.8	−0.064%	$262.6M	$64.4M	150x	as long as short
Lighter ETH	+0.0096%	1h	2,719.4	−0.079%	$111.5M	$433.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,720.5	−0.038%	$23.3M	$103.3M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,720.8	−0.026%	$497K	$3.4M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,721.9	+0.015%	$15.1M	$8.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,720.5	−0.037%	$13.8M	$105.0M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,723	+0.055%	$3.08B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,720.1	−0.051%	$31.9M	$333.8M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,720.9	−0.022%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,721.8	+0.009%	$1.5M	$16.2M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,719	−0.093%	$161.7M	$327.3M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,720.2	−0.046%	$3.30B	$8.96B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,718.9	−0.096%	$2.07B	$2.77B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,718.6	−0.108%	$14.9M	$43.2M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,716.7	−0.175%	$132.7M	$328.5M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,717.4	−0.151%	$184.0M	$676.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,718.2	−0.120%	$158.2M	$87.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,718.7	−0.103%	$20.9M	$70.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,721.7	+0.008%	—	$876K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,722.3	+0.029%	$11.2M	$9.6M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,720.5	−0.039%	$22K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,721.1	−0.014%	$40.8M	$30.1M	15x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,719.1	−0.088%	$54.1M	$187.8M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,719.2	−0.085%	$30.5M	$74.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,720.8	−0.027%	—	$31.3M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,720	−0.055%	$49.8M	$4.28B	50x	as long as short
RISEx ETH/USDC	+0.0108%	1h	2,721.7	+0.008%	$5.6M	$11.8M	25x	as long as short
Kalshi KXETHPERP	+0.0156%	8h	2,720.6	−0.033%	$6.4M	$692.0M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0177%	1h	2,719.6	−0.071%	$82.7M	$315.7M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0189%	8h	2,722.2	+0.025%	$32.0M	$11.4M	100x	as long as short
Reya ETHRUSDPERP	+0.0201%	1h	2,720.3	−0.044%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0256%	1h	2,720.9	−0.021%	$248K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0334%	8h	2,718.8	−0.098%	$280.7M	$173.9M	150x	as long as short