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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 03:00 UTC−0.0066%/8h= −7.2% APRnext payment −$0.08 per $10,000 · paid last 24h −0.015%
Price spread now: ApeX Omni against Backpack−0.076%7-day average −0.001% · you buy dearer than you sell
Net, funding: paid 7d − costs−$40as in the Funding arb table
Net, price: spread back to 7d avg − costs−$29as in the Price arb table
costs, in and out, $10k−$220.219% of the position
Long on BackpackShort on ApeX Omni
What this pair did over the last
the charts below follow
Funding, last 7 days−0.181%−$18 on $10k
Price spread, last 7 days+0.429%+$43 · spread now −0.076%, 7d avg −0.001%
Together, before fees+0.248%+$25 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and ApeX Omni is 0.074% cheaper against Backpack than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.001%). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack ETH_USDC_PERP2,744.30.0100pay 0.0013% / 1h22m 19s$15.0M$39.8M50x
ShortApeX Omni ETHUSDT2,742.20.0034get 0.0004% / 1h22m 19s$8.8M$30.8M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

ApeX Omni against Backpack. 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
−$13.88
Price spread: −0.076% → −0.001%
−$7.44
Slippage, 4 orders
−$1.93
Fee Backpack: 5 bp × 2 orders
−$10
Fee ApeX Omni: 5 bp × 2 orders
−$10
Net
−$43.25
Costs to cover
0.219%
Break-even
never at this rate
Slippage from Backpack: live order book, 2 min ago; ApeX Omni: 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 Backpack live order book, 2 min ago0.02 bp5.0 bp −$56.9 bp −$6930.5 bp −$3,047doesn't fit
Sell ApeX Omni live order book, 2 min ago0.24 bp5.9 bp −$66.3 bp −$6317.4 bp −$1,74082.5 bp −$41.2K

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+0.022%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,742.7−0.058%$118K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0009% / S +0.0043%1h2,747.9+0.133%$12.1M—200xas long as short
dYdX ETH-USD0.0000%1h2,746+0.061%$10.8M$41.7M50xas long as short
Perpl ETH0.0000%43m2,747.1+0.104%$305K$5.6M8.3xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,748+0.136%$25.0M—200xas long as short
Phoenix ETH+0.0017%1h2,742.3−0.073%$847K$2.9M25xas long as short
01 Exchange ETHUSD+0.0032%1h2,747.9+0.132%$182K$863K50xas long as short
ApeX Omni ETHUSDTshort+0.0034%1h2,742.2−0.076%$8.8M$30.8M100x
BingX ETH-USDC+0.0051%8h2,748.3+0.145%—$18.4M—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0066%8h2,746.1+0.067%$1.71B$10.56B100xas long as short
KuCoin ETHUSDTM+0.0069%8h2,748+0.134%$382.6M$577.8M100xas long as short
Bullet ETH-USD+0.0075%1h2,747.5+0.117%$183K$1.7M20xas long as short
RISEx ETH/USDC+0.0077%1h2,747.9+0.132%$5.6M$11.4M25xas long as short
Aster ETHUSDT+0.0087%8h2,747.3+0.109%$253.5M$841.5M200xas long as short
MEXC ETH_USDT+0.0094%8h2,747.3+0.108%$1.55B$2.55B500xas long as short
Binance ETHUSDT+0.0095%8h2,747.7+0.125%$6.39B$15.66B150xas long as short
Lighter ETH+0.0096%1h2,747.8+0.127%$112.9M$434.6M50xas long as short
Lighter RH ETH+0.0096%1h2,748+0.133%$24.6M$104.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,745.4+0.039%—$30.5M500xas long as short
Aevo ETH-PERP+0.0096%1h2,745.3+0.037%$4.9M$154K20xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,749.4+0.186%$58.4M$4.26B50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,751.3+0.254%$16.0M$7.9M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,747.2+0.106%$471K$3.0M50xas long as short
Nado ETH-PERP+0.0100%1h2,747.5+0.117%$13.9M$105.1M50xas long as short
Hyperliquid ETH+0.0100%1h2,750.1+0.212%$3.12B$2.06B25xas long as short
Pacifica ETH+0.0100%1h2,747.6+0.121%$31.7M$334.4M50xas long as short
Bybit ETHUSDT+0.0100%8h2,746.6+0.083%$2.45B$4.17B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,745+0.026%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,747.8+0.128%$2.7M$16.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,742.3−0.072%$165.2M$299.1M25xas long as short
Gate ETH_USDT+0.0100%8h2,747.8+0.129%$3.39B$8.75B200xas long as short
Bitget ETHUSDT+0.0100%8h2,747.9+0.133%$2.09B$2.72B150xas long as short
Backpack ETH_USDC_PERPlong+0.0100%1h2,744.3long leg$15.0M$39.8M50x
Variational Omni ETH+0.0100%8h2,740−0.157%$132.7M$328.0M—as long as short
edgeX ETHUSDC+0.0100%4h2,741−0.120%$182.2M$672.4M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,738.9−0.195%$159.3M$84.0M50xas long as short
StandX ETH-USD+0.0100%1h2,745.1+0.030%$21.2M$67.7M40xas long as short
Vest ETH-PERP+0.0100%1h2,747.8+0.129%—$815K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,748.7+0.161%$11.0M$8.8M50xas long as short
Derive ETH-PERP+0.0100%1h2,749.5+0.188%$41.6M$29.7M15xas long as short
SunX ETH-USDT+0.0100%8h2,747.1+0.101%$963K$11.5M100xas long as short
SoDEX ETH-USD+0.0100%1h2,747.5+0.117%$54.7M$187.5M40xas long as short
HTX ETH-USDT+0.0100%8h2,746.9+0.095%$1.06B$1.18B200xas long as short
Phemex ETHUSDT+0.0100%8h2,747.7+0.122%$267.2M$64.8M150xas long as short
Extended ETH-USD+0.0104%1h2,747+0.100%$30.6M$71.9M50xas long as short
Aftermath Perps ETHUSD+0.0126%1h2,744.1−0.007%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0160%8h2,747.1+0.102%$7.5M$669.6M4.9xas long as short
Orderly PERP_ETH_USDC+0.0192%8h2,750.4+0.222%$32.3M$11.4M100xas long as short
Kraken Futures PF_ETHUSD+0.0221%1h2,748.5+0.155%$86.8M$310.1M100xas long as short
Reya ETHRUSDPERP+0.0228%1h2,747.2+0.108%$7.3M$1.1M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,746+0.063%$252K$1.4M20xas long as short
Deribit ETH-PERPETUAL+0.0252%1h2,749.4+0.186%$259.8M$196.7M50xas long as short
Bluefin ETH-PERP+0.0275%1h2,748.3+0.146%$21K$20K25xas long as short
BloFin ETH-USDT+0.0346%8h2,744.6+0.012%$285.8M$181.2M150xas long as short