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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 04:00 UTC+0.0095%/8h= +10.4% APRpaid last 24h +0.043%
Price spread now: Orderly against ApeX Omni+0.223%7-day average +0.084% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on ApeX OmniShort on Orderly
What this pair did over the last
the charts below follow
Funding, last 7 days+0.354%+$35 on $10k
Price spread, last 4 days (all we have)−0.480%−$48 · spread now +0.223%, 7d avg +0.084%
Together, before fees−0.126%−$13 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Orderly is 0.139% dearer against ApeX Omni than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.084%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongApeX Omni ETHUSDT2,734.90.0100pay 0.0013% / 1h52m 44s$8.7M$30.7M100x
ShortOrderly PERP_ETH_USDC2,7410.0195get 0.0195% / 8h4h 52m$32.2M$11.5M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Orderly 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
$19.85
Price spread: +0.223% → +0.084%
$13.86
Slippage, 4 orders
no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders
−$10
Fee Orderly: 3 bp × 2 orders
−$6
Net
$17.71
Costs to cover
0.160%
Break-even
0.8 days
Slippage unknown: ApeX Omni: live order book, 1 min ago; Orderly: 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
LegHalf-spread$10k$100k$1M$5M
Buy ApeX Omni live order book, 1 min ago0.07 bp5.1 bp −$56.5 bp −$6523.1 bp −$2,30953.4 bp −$26.7K
Sell Orderly no order-book sample—————
Orderly: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl ETH−0.0447%43m2,738.4+0.128%$300K$5.5M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,740.3+0.196%$118K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,739.1+0.152%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,739+0.148%$12.0M—200xas long as short
dYdX ETH-USD0.0000%1h2,737.7+0.102%$10.8M$41.7M50xas long as short
01 Exchange ETHUSD0.0000%1h2,739+0.148%$182K$834K50xas long as short
Phoenix ETH0.0000%1h2,741.2+0.229%$832K$2.9M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,739.2+0.155%$25.4M—200xas long as short
BingX ETH-USDC+0.0055%8h2,737.9+0.107%—$18.4M—as long as short
Bullet ETH-USD+0.0059%1h2,738.3+0.124%$180K$1.7M20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX ETH-USD+0.0062%1h2,738.5+0.130%$54.5M$187.6M40xas long as short
OKX ETH-USDT-SWAP+0.0070%8h2,735.9+0.034%$1.68B$10.60B100xas long as short
KuCoin ETHUSDTM+0.0072%8h2,736.2+0.046%$380.3M$573.4M100xas long as short
Aster ETHUSDT+0.0084%8h2,738.3+0.122%$253.2M$840.3M200xas long as short
Aevo ETH-PERP+0.0088%1h2,736.3+0.049%$4.9M$154K20xas long as short
MEXC ETH_USDT+0.0091%8h2,735.2+0.009%$1.55B$2.52B500xas long as short
Binance ETHUSDT+0.0092%8h2,735.9+0.035%$6.35B$15.70B150xas long as short
Lighter ETH+0.0096%1h2,736.5+0.055%$112.5M$431.5M50xas long as short
Lighter RH ETH+0.0096%1h2,737.8+0.103%$24.5M$102.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,739.3+0.158%—$30.5M500xas long as short
RISEx ETH/USDC+0.0099%1h2,739.1+0.150%$5.6M$11.4M25xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,739.8+0.176%$15.8M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,737.9+0.108%$499K$3.2M50xas long as short
Nado ETH-PERP+0.0100%1h2,738.5+0.131%$13.9M$104.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,740+0.184%$3.11B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,737+0.075%$31.6M$335.1M50xas long as short
Bybit ETHUSDT+0.0100%8h2,735.6+0.024%$2.43B$4.18B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,738.7+0.137%$2.7M$16.9M25xas long as short
Arcus ETH-USD+0.0100%1h2,738.9+0.145%$2.8M$16.0M25xas long as short
Bulk ETH-USD+0.0100%1h2,740.8+0.213%$166.9M$306.7M25xas long as short
Gate ETH_USDT+0.0100%8h2,738.1+0.116%$3.39B$8.68B200xas long as short
Bitget ETHUSDT+0.0100%8h2,737.9+0.107%$2.08B$2.72B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,738.5+0.128%$15.0M$39.6M50xas long as short
Variational Omni ETH+0.0100%8h2,741+0.220%$133.2M$324.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,739.9+0.180%$182.1M$665.1M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,737.4+0.088%$159.2M$83.8M50xas long as short
ApeX Omni ETHUSDTlong+0.0100%1h2,734.9long leg$8.7M$30.7M100x
StandX ETH-USD+0.0100%1h2,740.7+0.211%$21.2M$69.6M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,740+0.185%$11.0M$8.8M50xas long as short
Derive ETH-PERP+0.0100%1h2,740.5+0.204%$41.4M$29.7M15xas long as short
SunX ETH-USDT+0.0100%8h2,737.8+0.105%$961K$11.4M100xas long as short
HTX ETH-USDT+0.0100%8h2,738.4+0.126%$1.06B$1.18B200xas long as short
Phemex ETHUSDT+0.0100%8h2,738.4+0.128%$266.1M$65.1M150xas long as short
Vest ETH-PERP+0.0100%1h2,739.5+0.168%—$843K50xas long as short
Extended ETH-USD+0.0104%1h2,737.6+0.098%$30.6M$72.3M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,740.3+0.197%$51.1M$4.26B50xas long as short
Aftermath Perps ETHUSD+0.0126%1h2,740.1+0.189%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0157%8h2,739.2+0.156%$7.7M$672.7M4.9xas long as short
Orderly PERP_ETH_USDCshort+0.0195%8h2,741+0.223%$32.2M$11.5M100x
Deribit ETH-PERPETUAL+0.0195%1h2,740.3+0.196%$260.0M$194.8M50xas long as short
BloFin ETH-USDT+0.0211%8h2,738.4+0.127%$285.5M$172.8M150xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,739.4+0.164%$86.0M$309.6M100xas long as short
Reya ETHRUSDPERP+0.0224%1h2,738.2+0.119%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,740.3+0.198%$252K$1.4M20xas long as short
Bluefin ETH-PERP+0.1989%1h2,739.3+0.160%$21K$20K25xas long as short