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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 01:00 UTC−0.0852%/8h= −93.3% APRnext payment −$1.07 per $10,000 · paid last 24h −0.027%
Price spread now: Injective against Arcus+0.304%7-day average +0.030% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$650.647% of the position
Long on ArcusShort on Injective
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.053%−$5 on $10k
Price spread, last 3 days (all we have)−0.435%−$43 · spread now +0.304%, 7d avg +0.030%
Together, before fees−0.488%−$49 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Injective is 0.274% dearer against Arcus than usual: you sell high and buy low (spread +0.304% now, against its 7-day average of +0.030%): +$27 on $10k if it goes back. Holding the pair costs −$26 a day in funding at the current rate, which eats that in about 26 hours. At the pace of the last 3 days (−0.053% in total) that is about 18 days.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.053% in total (about -5.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.07 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongArcus ETH-USD2,768.50.0100pay 0.0013% / 1h20m 37s$2.8M$16.9M25x
ShortInjective ETH/USDC PERP2,776.9−0.0752pay 0.0094% / 1h20m 37s$119K$22.5M52x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Injective 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
−$178.93
Price spread: +0.304% → +0.030%
$27.42
Slippage, 4 orders
−$60.19
Fee Arcus: 2.25 bp × 2 orders
−$4.5
Fee Injective: 0.01 bp × 2 orders
−$0.02
Net
−$216.21
Costs to cover
0.647%
Break-even
never at this rate
Slippage from Arcus: live order book, 4 min ago; Injective: live order book, 4 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, 4 min ago0.04 bp3.0 bp −$33.5 bp −$3513.0 bp −$1,297doesn't fit
Sell Injective live order book, 4 min ago7.02 bp52.4 bp −$5254.0 bp −$54054.3 bp −$5,433doesn't fit

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
Injective ETH/USDC PERPshort−0.0752%1h2,776.9+0.304%$119K$22.5M52x
RISEx ETH/USDC−0.0128%1h2,767.9−0.022%$5.6M$11.1M25xas long as short
Perpl ETH−0.0112%43m2,768.3−0.008%$322K$6.2M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,769.6+0.040%$5K$1K50xas long as short
01 Exchange ETHUSD−0.0040%1h2,767.9−0.021%$169K$1.1M50xas long as short
Phoenix ETH−0.0003%1h2,772+0.127%$873K$3.7M25xas long as short
dYdX ETH-USD0.0000%1h2,769.2+0.026%$12.2M$43.3M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,769+0.019%$22.4M—200xas long as short
Bullet ETH-USD+0.0020%1h2,768.2−0.010%$185K$1.7M20xas long as short
OKX ETH-USDT-SWAP+0.0028%8h2,767.3−0.041%$1.71B$11.12B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX ETH-USD+0.0034%1h2,768.7+0.008%$55.2M$188.0M40xas long as short
GMX ETH/USD [ETH-USDC]L +0.0043% / S −0.0009%1h2,768.8+0.013%$12.7M—200xas long as short
Aster ETHUSDT+0.0049%8h2,768.5+0.001%$256.0M$885.0M200xas long as short
Gate ETH_USDT+0.0054%8h2,768−0.019%$3.37B$9.04B200xas long as short
Binance ETHUSDT+0.0060%8h2,767.1−0.051%$6.47B$16.29B150xas long as short
MEXC ETH_USDT+0.0061%8h2,766.9−0.059%$1.62B$2.64B500xas long as short
Phemex ETHUSDT+0.0062%8h2,768.1−0.014%$269.4M$67.4M150xas long as short
Aevo ETH-PERP+0.0064%1h2,768.4−0.004%$5.0M$165K20xas long as short
Aftermath Perps ETHUSD+0.0071%1h2,772.5+0.146%$31K$21K20xas long as short
Bitget ETHUSDT+0.0075%8h2,767.9−0.020%$2.10B$2.87B150xas long as short
Coinbase International ETH-PERP-INTX+0.0080%1h2,770+0.056%$60.3M$4.42B50xas long as short
Vest ETH-PERP+0.0083%1h2,769+0.019%—$876K50xas long as short
KuCoin ETHUSDTM+0.0085%8h2,767.4−0.039%$420.0M$619.9M100xas long as short
Lighter ETH+0.0096%1h2,767.8−0.023%$114.9M$458.5M50xas long as short
Lighter RH ETH+0.0096%1h2,769.5+0.036%$25.6M$111.7M50xas long as short
Deribit ETH-PERPETUAL+0.0097%1h2,770.3+0.065%$259.1M$204.8M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,769.9+0.052%$15.9M$8.6M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,767.9−0.021%$488K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,768−0.016%$14.6M$113.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,770.2+0.062%$3.17B$2.18B25xas long as short
Pacifica ETH+0.0100%1h2,767.8−0.026%$31.2M$325.2M50xas long as short
Bybit ETHUSDT+0.0100%8h2,767.4−0.040%$2.51B$4.35B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,766.8−0.061%$2.8M$16.8M25xas long as short
Arcus ETH-USDlong+0.0100%1h2,768.5long leg$2.8M$16.9M25x
Bulk ETH-USD+0.0100%1h2,772.8+0.158%$170.3M$276.6M25xas long as short
BingX ETH-USDT+0.0100%8h2,767.8−0.026%—$1.21B—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,768.1−0.013%$15.2M$42.0M50xas long as short
Variational Omni ETH+0.0100%8h2,768.5+0.002%$137.0M$344.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,771.9+0.122%$182.0M$784.8M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,775.8+0.263%$161.4M$84.7M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,771.6+0.114%$8.7M$32.1M100xas long as short
StandX ETH-USD+0.0100%1h2,770.8+0.084%$21.4M$64.0M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,768.5+0.001%$10.5M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,768.9+0.014%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,770.7+0.082%$42.6M$28.9M15xas long as short
SunX ETH-USDT+0.0100%8h2,768.5−0.001%$970K$13.1M100xas long as short
HTX ETH-USDT+0.0100%8h2,768.3−0.008%$1.08B$1.25B200xas long as short
Extended ETH-USD+0.0104%1h2,767.2−0.046%$31.0M$74.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,769.8+0.046%—$36.2M500xas long as short
Kalshi KXETHPERP+0.0110%8h2,769.8+0.048%$8.1M$679.5M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0134%1h2,770.3+0.066%$95.9M$319.0M100xas long as short
Hibachi ETH/USDT-P+0.0152%1h2,771+0.091%$252K$1.5M20xas long as short
Orderly PERP_ETH_USDC+0.0154%8h2,771.3+0.100%$32.6M$11.1M100xas long as short
BloFin ETH-USDT+0.0182%8h2,768.7+0.008%$287.1M$181.1M150xas long as short
Reya ETHRUSDPERP+0.0212%1h2,768.3−0.007%$7.3M$1.1M25xas long as short