ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0102%/8h= −11.2% APRnext payment −$0.13 per $10,000 · paid last 24h −0.012%

Price spread now: Phoenix against Aevo+0.183%7-day average +0.134% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$380.377% of the position

Long on Aevo Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.072%+$7 on $10k

Price spread, last 4 days (all we have)−0.025%−$3 · spread now +0.183%, 7d avg +0.134%

Together, before fees+0.047%+$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phoenix is 0.049% dearer against Aevo than usual: you sell high and buy low (spread +0.183% now, against its 7-day average of +0.134%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 38 hours. Mind the row above: over the last 7 days funding on this pair paid +0.072%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo ETH-PERP	2,724.8	0.0096	pay 0.0012% / 1h	50m 49s	$4.9M	$161K	20x
Short	Phoenix ETH	2,729.8	−0.0006	pay 0.0001% / 1h	50m 49s	$815K	$3.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Aevo. 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 AevobpFee PhoenixbpOrdersPrice spread, now +0.183%Rate

Funding earned: −$21.39
Price spread: +0.183% → +0.134%: $4.89
Slippage, 4 orders: −$14.74
Fee Aevo: 8 bp × 2 orders: −$16
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$54.24
Costs to cover: 0.377%
Break-even: never at this rate

Slippage from Aevo: live order book, 3 min ago; Phoenix: live order book, 3 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 Aevo live order book, 3 min ago	2.92 bp	11.2 bp −$11	28.0 bp −$280	42.2 bp −$4,221	doesn't fit
Sell Phoenix live order book, 3 min ago	0.18 bp	4.2 bp −$4	7.6 bp −$76	16.9 bp −$1,690	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	−0.0112%	43m	2,725.6	+0.029%	$287K	$5.8M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,726.4	+0.058%	$5K	$1K	50x	as long as short
ApeX Omni ETHUSDT	−0.0072%	1h	2,727.4	+0.095%	$8.6M	$31.5M	100x	as long as short
Injective ETH/USDC PERP	−0.0040%	1h	2,729.2	+0.161%	$117K	$22.5M	52x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,727.3	+0.090%	$11.9M	—	200x	as long as short
Phoenix ETHshort	−0.0006%	1h	2,729.8	+0.183%	$815K	$3.0M	25x
dYdX ETH-USD	0.0000%	1h	2,726.9	+0.077%	$10.5M	$42.9M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,727	+0.080%	$6.7M	$692.1M	4.9x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,728.1	+0.120%	$261.8M	$213.2M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,727.3	+0.092%	$32.9M	—	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX ETH-USDT	+0.0009%	8h	2,727.2	+0.088%	$1.05B	$1.23B	200x	as long as short
01 Exchange ETHUSD	+0.0032%	1h	2,726.4	+0.058%	$191K	$892K	50x	as long as short
BingX ETH-USDC	+0.0034%	8h	2,728	+0.119%	—	$18.6M	—	as long as short
Bybit ETHUSDT	+0.0039%	8h	2,729.3	+0.164%	$2.35B	$4.42B	150x	as long as short
Aftermath Perps ETHUSD	+0.0077%	1h	2,730.2	+0.198%	$30K	$20K	20x	as long as short
KuCoin ETHUSDTM	+0.0078%	8h	2,728.8	+0.148%	$375.3M	$576.1M	100x	as long as short
SunX ETH-USDT	+0.0087%	8h	2,725.3	+0.019%	$955K	$11.1M	100x	as long as short
SoDEX ETH-USD	+0.0090%	1h	2,727.3	+0.091%	$54.3M	$187.5M	40x	as long as short
Aster ETHUSDT	+0.0090%	8h	2,729	+0.155%	$252.2M	$849.5M	200x	as long as short
OKX ETH-USDT-SWAP	+0.0093%	8h	2,729.4	+0.169%	$1.66B	$10.94B	100x	as long as short
Lighter ETH	+0.0096%	1h	2,728.4	+0.131%	$112.1M	$432.1M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,729.1	+0.157%	$23.4M	$102.7M	50x	as long as short
Aevo ETH-PERPlong	+0.0096%	1h	2,724.8	long leg	$4.9M	$161K	20x
Binance ETHUSDT	+0.0098%	8h	2,729.4	+0.170%	$6.33B	$16.18B	150x	as long as short
MEXC ETH_USDT	+0.0099%	8h	2,729.1	+0.158%	$1.52B	$2.58B	500x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,725.8	+0.036%	$507K	$3.5M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,730.2	+0.199%	$15.3M	$8.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,726.4	+0.058%	$14.0M	$105.5M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,732.2	+0.271%	$3.10B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,727.1	+0.083%	$31.9M	$334.2M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,725.8	+0.036%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,726.7	+0.068%	$1.5M	$16.2M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,725.9	+0.040%	$161.8M	$340.3M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,729.4	+0.170%	$3.27B	$8.93B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,729.8	+0.182%	$2.08B	$2.79B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,728.7	+0.142%	$15.0M	$42.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,727	+0.082%	$133.2M	$326.3M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,727.6	+0.104%	$184.9M	$681.8M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,727.8	+0.110%	$158.5M	$87.7M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,727.5	+0.099%	$21.0M	$70.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,727.8	+0.111%	—	$879K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,728.2	+0.124%	$11.2M	$9.5M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,727	+0.079%	$180K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,727.2	+0.088%	$22K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,729	+0.154%	$40.9M	$30.2M	15x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,728.1	+0.122%	$263.0M	$65.1M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,728.1	+0.121%	$30.3M	$74.2M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,726.7	+0.070%	—	$30.6M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,729	+0.152%	$50.2M	$4.32B	50x	as long as short
RISEx ETH/USDC	+0.0115%	1h	2,726.6	+0.067%	$5.6M	$11.8M	25x	as long as short
Orderly PERP_ETH_USDC	+0.0187%	8h	2,729.4	+0.167%	$32.1M	$11.6M	100x	as long as short
Reya ETHRUSDPERP	+0.0194%	1h	2,725.9	+0.042%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0211%	1h	2,728.4	+0.131%	$83.3M	$311.2M	100x	as long as short
Hibachi ETH/USDT-P	+0.0272%	1h	2,728.4	+0.130%	$245K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0392%	8h	2,728.3	+0.128%	$282.1M	$175.1M	150x	as long as short