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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 02:00 UTC+0.0142%/8h= +15.5% APRnext payment +$0.18 per $10,000 · paid last 24h +0.014%
Price spread now: Bulk against ApeX Omni−0.036%7-day average +0.005% · 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−$21as in the Price arb table
costs, in and out, $10k−$170.173% of the position
Long on ApeX OmniShort on Bulk
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.115%+$12 on $10k
Price spread, last 7 days+0.043%+$4 · spread now −0.036%, 7d avg +0.005%
Together, before fees+0.158%+$16 on $10k · with fees, hour by hour
Funding pays, the price is against you. Bulk is 0.042% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.036% now, against its 7-day average of +0.005%). If the spread goes back, that is −$4 on $10k: about 23 hours of funding at the current rate (+$4 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongApeX Omni ETHUSDT2,744.9−0.0042get 0.0005% / 1h32m 51s$8.7M$31.8M100x
ShortBulk ETH-USD2,743.90.0100get 0.0013% / 1h32m 51s$165.5M$306.7M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bulk against ApeX Omni. 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

Funding earned
$29.82
Price spread: −0.036% → +0.005%
−$4.15
Slippage, 4 orders
−$0.26
Fee ApeX Omni: 5 bp × 2 orders
−$10
Fee Bulk: 3.5 bp × 2 orders
−$7
Net
$8.41
Costs to cover
0.173%
Break-even
5.0 days
Slippage from ApeX Omni: live order book, 1 min ago; Bulk: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy ApeX Omni live order book, 1 min ago0.07 bp5.1 bp −$55.6 bp −$5616.7 bp −$1,66641.4 bp −$20.7K
Sell Bulk live order book, 1 min ago0.02 bp3.5 bp −$43.5 bp −$353.8 bp −$3815.0 bp −$2,481

ETH on 54 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl ETH−0.0447%43m2,745.8+0.031%$310K$6.0M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,748.2+0.119%$5K$1K50xas long as short
RISEx ETH/USDC−0.0071%1h2,744.8−0.004%$5.5M$11.2M25xas long as short
ApeX Omni ETHUSDTlong−0.0042%1h2,744.9long leg$8.7M$31.8M100x
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,746.1+0.044%$11.9M—200xas long as short
Phoenix ETH−0.0006%1h2,746.4+0.054%$848K$3.1M25xas long as short
dYdX ETH-USD0.0000%1h2,745.8+0.032%$10.8M$42.0M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,746.3+0.048%$22.2M—200xas long as short
01 Exchange ETHUSD+0.0016%1h2,745.3+0.013%$180K$1.1M50xas long as short
BingX ETH-USDC+0.0032%8h2,747.3+0.087%—$17.3M—as long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0042%8h2,748.5+0.130%$1.69B$11.08B100xas long as short
HTX ETH-USDT+0.0042%8h2,745.1+0.005%$1.06B$1.22B200xas long as short
Aster ETHUSDT+0.0061%8h2,747.2+0.081%$253.4M$863.0M200xas long as short
Deribit ETH-PERPETUAL+0.0067%1h2,746.6+0.059%$258.5M$202.0M50xas long as short
MEXC ETH_USDT+0.0070%8h2,747.6+0.097%$1.56B$2.56B500xas long as short
Binance ETHUSDT+0.0072%8h2,747.9+0.108%$6.35B$16.34B150xas long as short
Aevo ETH-PERP+0.0072%1h2,743.7−0.044%$4.9M$168K20xas long as short
KuCoin ETHUSDTM+0.0073%8h2,746+0.040%$381.2M$608.1M100xas long as short
Gate ETH_USDT+0.0080%8h2,748.2+0.120%$3.39B$8.85B200xas long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,746.2+0.046%$58.8M$4.38B50xas long as short
Bitget ETHUSDT+0.0089%8h2,747.8+0.103%$2.07B$2.86B150xas long as short
Lighter ETH+0.0096%1h2,745.3+0.012%$112.7M$442.0M50xas long as short
Lighter RH ETH+0.0096%1h2,746.5+0.058%$24.8M$106.8M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,745.9+0.036%—$35.5M500xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,749.5+0.166%$15.9M$8.2M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,743.8−0.041%$467K$2.9M50xas long as short
Nado ETH-PERP+0.0100%1h2,745.8+0.033%$14.0M$113.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,747.2+0.084%$3.13B$2.12B25xas long as short
Pacifica ETH+0.0100%1h2,745.5+0.020%$31.5M$333.7M50xas long as short
Bybit ETHUSDT+0.0100%8h2,748+0.111%$2.46B$4.35B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,743.6−0.048%$2.8M$16.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,745.1+0.007%$2.8M$16.7M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,744.6−0.011%$15.0M$41.8M50xas long as short
Variational Omni ETH+0.0100%8h2,744.6−0.013%$133.0M$346.7M—as long as short
edgeX ETHUSDC+0.0100%4h2,744.4−0.021%$181.5M$729.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,745.5+0.021%$159.7M$84.8M50xas long as short
StandX ETH-USD+0.0100%1h2,745+0.003%$21.2M$67.3M40xas long as short
Vest ETH-PERP+0.0100%1h2,747.1+0.078%—$870K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,745.2+0.010%$10.3M$8.0M50xas long as short
Bullet ETH-USD+0.0100%1h2,745.8+0.030%$183K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,746.2+0.047%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,747.3+0.085%$41.7M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,744.9−0.003%$963K$12.5M100xas long as short
SoDEX ETH-USD+0.0100%1h2,745.6+0.024%$54.7M$187.6M40xas long as short
Phemex ETHUSDT+0.0100%8h2,744.7−0.007%$266.8M$66.5M150xas long as short
Bulk ETH-USDshort+0.0100%1h2,743.9−0.036%$165.5M$306.7M25x
Aftermath Perps ETHUSD+0.0102%1h2,746+0.040%$30K$21K20xas long as short
Extended ETH-USD+0.0104%1h2,746.9+0.071%$30.4M$74.9M50xas long as short
Kalshi KXETHPERP+0.0137%8h2,746.5+0.057%$7.8M$674.0M4.9xas long as short
Orderly PERP_ETH_USDC+0.0167%8h2,748.3+0.122%$32.3M$11.2M100xas long as short
Hibachi ETH/USDT-P+0.0192%1h2,748.4+0.127%$250K$1.5M20xas long as short
Injective ETH/USDC PERP+0.0209%1h2,746.7+0.064%$118K$22.5M52xas long as short
Reya ETHRUSDPERP+0.0219%1h2,745.5+0.019%$7.3M$1.1M25xas long as short
Kraken Futures PF_ETHUSD+0.0354%1h2,745.7+0.030%$89.9M$317.5M100xas long as short