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Funding arb · Price arb /

ETH

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Alert: spread
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Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.004%
Price spread now: Bulk against Arcus−0.200%7-day average −0.016% · 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−$32as in the Price arb table
costs, in and out, $10k−$130.132% of the position
Long on ArcusShort on Bulk
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.004%$0 on $10k
Price spread, last 7 days+0.190%+$19 · spread now −0.200%, 7d avg −0.016%
Together, before fees+0.186%+$19 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 0.184% cheaper against Arcus than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of −0.016%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongArcus ETH-USD2,747.80.0100pay 0.0013% / 1h22m 26s$2.7M$16.1M25x
ShortBulk ETH-USD2,742.30.0100get 0.0013% / 1h22m 26s$165.2M$299.1M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bulk against Arcus. 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
$0
Price spread: −0.200% → −0.016%
−$18.43
Slippage, 4 orders
−$1.7
Fee Arcus: 2.25 bp × 2 orders
−$4.5
Fee Bulk: 3.5 bp × 2 orders
−$7
Net
−$31.63
Costs to cover
0.132%
Break-even
never at this rate
Slippage from Arcus: live order book, 2 min ago; Bulk: live order book, 2 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 Arcus live order book, 2 min ago0.02 bp2.3 bp −$22.5 bp −$25doesn't fitdoesn't fit
Sell Bulk live order book, 2 min ago0.02 bp3.5 bp −$43.5 bp −$354.7 bp −$4695.7 bp −$2,864

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
Hotstuff ETH-PERP−0.0080%1h2,744.9−0.106%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,742.7−0.186%$118K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0009% / S +0.0043%1h2,745.1−0.098%$12.1M—200xas long as short
dYdX ETH-USD0.0000%1h2,746−0.067%$10.8M$41.7M50xas long as short
Perpl ETH0.0000%43m2,747.1−0.024%$305K$5.6M8.3xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,748+0.008%$25.0M—200xas long as short
Phoenix ETH+0.0017%1h2,742.3−0.200%$847K$2.9M25xas long as short
01 Exchange ETHUSD+0.0032%1h2,747.9+0.004%$182K$863K50xas long as short
ApeX Omni ETHUSDT+0.0034%1h2,742.2−0.203%$8.8M$30.8M100xas long as short
BingX ETH-USDT+0.0051%8h2,747.5−0.010%—$1.15B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0066%8h2,747.8−0.001%$1.71B$10.56B100xas long as short
KuCoin ETHUSDTM+0.0069%8h2,748+0.006%$382.6M$577.8M100xas long as short
Bullet ETH-USD+0.0075%1h2,747.5−0.011%$183K$1.7M20xas long as short
RISEx ETH/USDC+0.0077%1h2,747.9+0.004%$5.6M$11.4M25xas long as short
Aster ETHUSDT+0.0087%8h2,747.4−0.016%$253.5M$841.2M200xas long as short
MEXC ETH_USDT+0.0094%8h2,747−0.029%$1.56B$2.55B500xas long as short
Binance ETHUSDT+0.0095%8h2,747.5−0.010%$6.39B$15.66B150xas long as short
Lighter ETH+0.0096%1h2,746.3−0.056%$112.8M$434.5M50xas long as short
Lighter RH ETH+0.0096%1h2,747.7−0.005%$24.7M$104.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,745.4−0.089%—$30.5M500xas long as short
Aevo ETH-PERP+0.0096%1h2,743.2−0.168%$4.9M$154K20xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,746.7−0.041%$58.4M$4.25B50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,751.3+0.126%$16.0M$7.9M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,747.2−0.022%$471K$3.0M50xas long as short
Nado ETH-PERP+0.0100%1h2,747.5−0.011%$13.9M$105.1M50xas long as short
Hyperliquid ETH+0.0100%1h2,750.1+0.084%$3.12B$2.06B25xas long as short
Pacifica ETH+0.0100%1h2,747.6−0.007%$31.7M$334.4M50xas long as short
Bybit ETHUSDT+0.0100%8h2,747.7−0.003%$2.46B$4.16B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,745−0.102%$2.7M$16.8M25xas long as short
Arcus ETH-USDlong+0.0100%1h2,747.8long leg$2.7M$16.1M25x
Bulk ETH-USDshort+0.0100%1h2,742.3−0.200%$165.2M$299.1M25x
Gate ETH_USDT+0.0100%8h2,747.8+0.001%$3.39B$8.75B200xas long as short
Bitget ETHUSDT+0.0100%8h2,748+0.006%$2.09B$2.72B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,744.3−0.128%$15.0M$39.8M50xas long as short
Variational Omni ETH+0.0100%8h2,740−0.284%$132.7M$328.0M—as long as short
edgeX ETHUSDC+0.0100%4h2,741−0.248%$182.2M$672.4M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,738.9−0.322%$159.3M$84.0M50xas long as short
StandX ETH-USD+0.0100%1h2,745.1−0.098%$21.2M$67.7M40xas long as short
Vest ETH-PERP+0.0100%1h2,747.8+0.001%—$815K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,748.7+0.033%$11.0M$8.8M50xas long as short
Derive ETH-PERP+0.0100%1h2,746.5−0.046%$41.5M$29.7M15xas long as short
SunX ETH-USDT+0.0100%8h2,744−0.139%$963K$11.5M100xas long as short
SoDEX ETH-USD+0.0100%1h2,744.9−0.106%$54.7M$187.5M40xas long as short
HTX ETH-USDT+0.0100%8h2,744.8−0.110%$1.06B$1.17B200xas long as short
Phemex ETHUSDT+0.0100%8h2,744.9−0.104%$266.9M$64.8M150xas long as short
Extended ETH-USD+0.0104%1h2,746.7−0.041%$30.6M$71.9M50xas long as short
Aftermath Perps ETHUSD+0.0126%1h2,744.1−0.134%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0160%8h2,745.1−0.098%$7.5M$669.2M4.9xas long as short
Orderly PERP_ETH_USDC+0.0192%8h2,747.4−0.013%$32.3M$11.4M100xas long as short
Kraken Futures PF_ETHUSD+0.0221%1h2,746−0.065%$86.7M$310.1M100xas long as short
Reya ETHRUSDPERP+0.0228%1h2,747.2−0.020%$7.3M$1.1M25xas long as short
Deribit ETH-PERPETUAL+0.0238%1h2,746.7−0.042%$259.8M$196.9M50xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,746−0.065%$252K$1.4M20xas long as short
Bluefin ETH-PERP+0.0299%1h2,744.8−0.108%$21K$20K25xas long as short
BloFin ETH-USDT+0.0346%8h2,744.6−0.115%$285.8M$181.2M150xas long as short