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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 00:00 UTC−0.0035%/8h= −3.8% APRpaid last 24h −0.016%
Price spread now: Bitget against Backpack+0.025%7-day average +0.006% · you sell dearer than you buy
Net, funding: paid 7d − costs−$31as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$220.221% of the position
Long on BackpackShort on Bitget
What this pair did over the last
the charts below follow
Funding, last 7 days−0.085%−$8 on $10k
Price spread, last 7 days+0.711%+$71 · spread now +0.025%, 7d avg +0.006%
Together, before fees+0.626%+$63 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.006%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack ETH_USDC_PERP2,772.10.0100pay 0.0013% / 1h16m 38s$15.1M$44.3M50x
ShortBitget ETHUSDT2,772.80.0065get 0.0065% / 8h16m 38s$2.10B$3.10B150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bitget 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
−$7.35
Price spread: +0.025% → +0.006%
$1.83
Slippage, 4 orders
−$0.09
Fee Backpack: 5 bp × 2 orders
−$10
Fee Bitget: 6 bp × 2 orders
−$12
Net
−$27.61
Costs to cover
0.221%
Break-even
never at this rate
Slippage from Backpack: live order book, 3 min ago; Bitget: live order book, 3 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, 3 min ago0.02 bp5.0 bp −$56.2 bp −$6227.4 bp −$2,738doesn't fit
Sell Bitget live order book, 3 min ago0.02 bp6.0 bp −$66.0 bp −$608.0 bp −$79910.3 bp −$5,163

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−0.0223%43m2,772.4+0.011%$286K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0206%1h2,773+0.030%$5.6M$11.9M25xas long as short
Injective ETH/USDC PERP−0.0088%1h2,762.1−0.361%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,772.9+0.028%$5K$2K50xas long as short
ApeX Omni ETHUSDT−0.0026%1h2,773+0.032%$8.8M$32.9M100xas long as short
01 Exchange ETHUSD−0.0008%1h2,773.4+0.046%$168K$1.2M50xas long as short
dYdX ETH-USD0.0000%1h2,773.5+0.049%$12.7M$45.9M50xas long as short
Phoenix ETH+0.0003%1h2,769.9−0.080%$876K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,771.5−0.022%$22.4M—200xas long as short
OKX ETH-USDT-SWAP+0.0022%8h2,772.6+0.016%$1.70B$11.89B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aftermath Perps ETHUSD+0.0025%1h2,772−0.005%$29K$22K20xas long as short
GMX ETH/USD [ETH-USDC]L +0.0026% / S +0.0009%1h2,771.4−0.027%$12.8M—200xas long as short
Phemex ETHUSDT+0.0032%8h2,772.2+0.001%$270.3M$68.9M150xas long as short
Aster ETHUSDT+0.0033%8h2,773+0.032%$256.0M$1.00B200xas long as short
SoDEX ETH-USD+0.0040%1h2,772.1−0.001%$55.2M$229.0M40xas long as short
Bullet ETH-USD+0.0044%1h2,770.6−0.054%$182K$1.7M20xas long as short
Aevo ETH-PERP+0.0056%1h2,771.8−0.010%$5.0M$636K20xas long as short
MEXC ETH_USDT+0.0057%8h2,772.8+0.024%$1.62B$2.66B500xas long as short
Binance ETHUSDT+0.0058%8h2,773+0.032%$6.46B$17.31B150xas long as short
Bitget ETHUSDTshort+0.0065%8h2,772.8+0.025%$2.10B$3.10B150x
Gate ETH_USDT+0.0068%8h2,772.9+0.028%$3.29B$9.68B200xas long as short
Deribit ETH-PERPETUAL+0.0075%1h2,773.8+0.060%$259.0M$222.5M50xas long as short
KuCoin ETHUSDTM+0.0081%8h2,773.3+0.041%$421.3M$739.1M100xas long as short
BingX ETH-USDT+0.0088%8h2,772.8+0.025%—$1.24B—as long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,773.3+0.043%$60.2M$4.60B50xas long as short
Bybit ETHUSDT+0.0088%8h2,773+0.030%$2.51B$4.63B150xas long as short
Vest ETH-PERP+0.0094%1h2,771.8−0.010%—$1.1M50xas long as short
HTX ETH-USDT+0.0095%8h2,771.2−0.033%$1.08B$1.32B200xas long as short
Lighter ETH+0.0096%1h2,773.4+0.048%$115.2M$500.1M50xas long as short
Lighter RH ETH+0.0096%1h2,775.1+0.107%$25.3M$121.8M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,773.3+0.041%—$43.4M500xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,773+0.033%$15.9M$10.1M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,772.6+0.017%$476K$2.8M50xas long as short
Nado ETH-PERP+0.0100%1h2,771.1−0.038%$14.3M$118.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,775.5+0.122%$3.17B$2.36B25xas long as short
Pacifica ETH+0.0100%1h2,773.6+0.052%$31.3M$315.2M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,772.8+0.025%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,773.9+0.063%$2.7M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,773+0.030%$170.1M$265.7M25xas long as short
Backpack ETH_USDC_PERPlong+0.0100%1h2,772.1long leg$15.1M$44.3M50x
Variational Omni ETH+0.0100%8h2,769−0.114%$147.5M$336.1M—as long as short
edgeX ETHUSDC+0.0100%4h2,771.2−0.034%$181.9M$784.7M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,773+0.031%$161.2M$89.9M50xas long as short
StandX ETH-USD+0.0100%1h2,773+0.032%$21.5M$58.5M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,771−0.040%$10.6M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,772−0.003%$21K$24K25xas long as short
SunX ETH-USDT+0.0100%8h2,772−0.004%$972K$13.9M100xas long as short
Derive ETH-PERP+0.0100%1h2,773.2+0.040%$42.7M$29.4M15xas long as short
Extended ETH-USD+0.0104%1h2,772.10.000%$32.5M$78.2M50xas long as short
Kalshi KXETHPERP+0.0113%8h2,773+0.032%$8.3M$687.6M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0123%1h2,773.5+0.049%$89.1M$337.3M100xas long as short
Orderly PERP_ETH_USDC+0.0142%8h2,773.4+0.046%$32.6M$12.2M100xas long as short
BloFin ETH-USDT+0.0178%8h2,772.1−0.001%$286.4M$194.7M150xas long as short
Reya ETHRUSDPERP+0.0204%1h2,770.5−0.058%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0216%1h2,774.4+0.082%$252K$1.6M20xas long as short