ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0017%/8h= +1.8% APRnext payment +$0.02 per $10,000 · paid last 24h −0.019%

Price spread now: Backpack against Aftermath Perps−0.065%7-day average — · you buy dearer than you sell

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

Long on Aftermath Perps Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Backpack is 0.065% cheaper against Aftermath Perps than usual: you would sell low and buy high (spread −0.065% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 13 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps ETHUSD	2,750.1	0.0083	pay 0.0010% / 1h	52m 47s	$30K	$21K	20x
Short	Backpack ETH_USDC_PERP	2,748.3	0.0100	get 0.0013% / 1h	52m 47s	$14.9M	$42.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Aftermath Perps. 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 Aftermath PerpsbpFee BackpackbpOrdersPrice spread, now −0.065%Rate

Funding earned: $3.52
Price spread: −0.065% → 0.000%: −$6.51
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$21.99
Costs to cover: 0.190%
Break-even: 50.7 days

Slippage unknown: Aftermath Perps: no order-book sample; Backpack: live order book, 1 min ago. 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Backpack live order book, 1 min ago	0.02 bp	5.0 bp −$5	6.8 bp −$68	31.1 bp −$3,110	doesn't fit

Aftermath 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
ApeX Omni ETHUSDT	−0.0865%	1h	2,751.3	+0.046%	$8.8M	$31.4M	100x	as long as short
Perpl ETH	−0.0447%	43m	2,745.6	−0.163%	$323K	$6.2M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,739.2	−0.395%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,750.7	+0.024%	$5.5M	$11.3M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,747.1	−0.107%	$12.0M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,756.1	+0.220%	$865K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,750.6	+0.018%	$10.9M	$41.8M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,745.1	−0.180%	$180K	$1.1M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,747.4	−0.095%	$22.2M	—	200x	as long as short
BingX ETH-USDC	+0.0027%	8h	2,749.9	−0.005%	—	$17.3M	—	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	+0.0033%	8h	2,746.7	−0.124%	$1.07B	$1.23B	200x	as long as short
OKX ETH-USDT-SWAP	+0.0035%	8h	2,750.3	+0.007%	$1.67B	$11.08B	100x	as long as short
Aster ETHUSDT	+0.0043%	8h	2,750.1	+0.002%	$255.9M	$854.5M	200x	as long as short
MEXC ETH_USDT	+0.0055%	8h	2,750	−0.001%	$1.58B	$2.52B	500x	as long as short
Binance ETHUSDT	+0.0055%	8h	2,749.6	−0.015%	$6.37B	$16.31B	150x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,745.5	−0.167%	$4.9M	$163K	20x	as long as short
Gate ETH_USDT	+0.0065%	8h	2,750.5	+0.016%	$3.33B	$8.70B	200x	as long as short
KuCoin ETHUSDTM	+0.0083%	8h	2,749.5	−0.021%	$384.4M	$607.0M	100x	as long as short
Bitget ETHUSDT	+0.0083%	8h	2,750	−0.003%	$2.07B	$2.86B	150x	as long as short
Aftermath Perps ETHUSDlong	+0.0083%	1h	2,750.1	long leg	$30K	$21K	20x
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,748.6	−0.053%	$59.5M	$4.39B	50x	as long as short
Variational Omni ETH	+0.0095%	8h	2,741.6	−0.309%	$132.7M	$345.8M	—	as long as short
Lighter ETH	+0.0096%	1h	2,749.7	−0.012%	$113.3M	$438.5M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,751.1	+0.039%	$25.1M	$105.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,743.9	−0.225%	—	$35.6M	500x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,753.4	+0.120%	$15.9M	$8.2M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,744.2	−0.213%	$468K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,745.4	−0.169%	$14.0M	$113.2M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,751.7	+0.060%	$3.13B	$2.14B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,750.3	+0.009%	$31.2M	$332.2M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,750	−0.001%	$2.46B	$4.37B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,749.2	−0.031%	$2.8M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,751.2	+0.040%	$2.8M	$16.8M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,752.6	+0.094%	$169.2M	$297.0M	25x	as long as short
Backpack ETH_USDC_PERPshort	+0.0100%	1h	2,748.3	−0.065%	$14.9M	$42.5M	50x
edgeX ETHUSDC	+0.0100%	4h	2,751.5	+0.052%	$183.7M	$729.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,739.9	−0.368%	$159.3M	$81.8M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,741.2	−0.322%	$21.2M	$65.6M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,746	−0.148%	—	$871K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,746.3	−0.137%	$10.3M	$8.0M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,746.9	−0.115%	$182K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,747.1	−0.106%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,749.1	−0.036%	$42.0M	$29.0M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,747	−0.111%	$963K	$12.7M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,747.2	−0.104%	$54.7M	$187.6M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,747.8	−0.084%	$267.2M	$66.1M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,749.4	−0.022%	$30.5M	$74.5M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0125%	1h	2,748.4	−0.061%	$258.8M	$202.3M	50x	as long as short
Kalshi KXETHPERP	+0.0130%	8h	2,745	−0.184%	$7.7M	$671.4M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0159%	8h	2,750.2	+0.004%	$32.4M	$11.2M	100x	as long as short
Hibachi ETH/USDT-P	+0.0168%	1h	2,741.7	−0.305%	$250K	$1.5M	20x	as long as short
BloFin ETH-USDT	+0.0175%	8h	2,747.3	−0.099%	$286.1M	$178.5M	150x	as long as short
Injective ETH/USDC PERP	+0.0209%	1h	2,744.5	−0.202%	$118K	$22.5M	52x	as long as short
Reya ETHRUSDPERP	+0.0217%	1h	2,746.4	−0.133%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0354%	1h	2,748.3	−0.064%	$93.0M	$319.6M	100x	as long as short