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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 23:00 UTC−0.0013%/8h= −1.4% APRpaid last 24h −0.010%
Price spread now: HTX against Backpack+0.007%7-day average −0.010% · you sell dearer than you buy
Net, funding: paid 7d − costs−$29as in the Funding arb table
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$220.225% of the position
Long on BackpackShort on HTX
What this pair did over the last
the charts below follow
Funding, last 7 days−0.066%−$7 on $10k
Price spread, last 3 days (all we have)−0.069%−$7 · spread now +0.007%, 7d avg −0.010%
Together, before fees−0.135%−$14 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.010%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack ETH_USDC_PERP2,7780.0100pay 0.0013% / 1h59m 58s$15.1M$44.1M50x
ShortHTX ETH-USDT2,778.20.0087get 0.0087% / 8h59m 58s$1.08B$1.32B200x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

HTX 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
−$2.65
Price spread: +0.007% → −0.010%
$1.64
Slippage, 4 orders
−$0.45
Fee Backpack: 5 bp × 2 orders
−$10
Fee HTX: 6 bp × 2 orders
−$12
Net
−$23.47
Costs to cover
0.225%
Break-even
never at this rate
Slippage from Backpack: live order book, 4 min ago; HTX: 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 Backpack live order book, 4 min ago0.02 bp5.0 bp −$56.4 bp −$6426.0 bp −$2,604doesn't fit
Sell HTX live order book, 4 min ago0.02 bp6.0 bp −$66.0 bp −$607.2 bp −$72310.0 bp −$4,976

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%43m2,778.3+0.014%$288K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,778.3+0.011%$5.7M$11.9M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,779.3+0.048%$5K$2K50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,771.7−0.225%$119K$22.5M52xas long as short
01 Exchange ETHUSD−0.0040%1h2,778.3+0.012%$169K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0006%1h2,776.4−0.055%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,779.4+0.051%$12.7M$45.9M50xas long as short
Phoenix ETH0.0000%1h2,775.6−0.085%$885K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,779.2+0.045%$22.4M—200xas long as short
BingX ETH-USDC+0.0014%8h2,777.4−0.021%—$17.4M—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0018%8h2,777.9−0.004%$1.70B$11.88B100xas long as short
Phemex ETHUSDT+0.0021%8h2,7780.000%$270.6M$68.8M150xas long as short
Bullet ETH-USD+0.0022%1h2,778.3+0.011%$182K$1.7M20xas long as short
GMX ETH/USD [ETH-USDC]L +0.0027% / S +0.0009%1h2,779.2+0.043%$13.0M—200xas long as short
Aster ETHUSDT+0.0033%8h2,778.2+0.009%$254.8M$995.6M200xas long as short
Deribit ETH-PERPETUAL+0.0045%1h2,779.7+0.061%$258.7M$222.8M50xas long as short
Nado ETH-PERP+0.0054%1h2,778.4+0.016%$14.3M$118.2M50xas long as short
ApeX Omni ETHUSDT+0.0058%1h2,777.6−0.015%$8.8M$32.7M100xas long as short
MEXC ETH_USDT+0.0060%8h2,777.7−0.010%$1.60B$2.68B500xas long as short
SoDEX ETH-USD+0.0060%1h2,777.8−0.006%$55.3M$229.0M40xas long as short
Binance ETHUSDT+0.0061%8h2,777.8−0.007%$6.44B$17.24B150xas long as short
Aevo ETH-PERP+0.0064%1h2,776.1−0.067%$5.0M$636K20xas long as short
Bitget ETHUSDT+0.0065%8h2,777.8−0.006%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0071%8h2,777.9−0.001%$3.30B$9.69B200xas long as short
HTX ETH-USDTshort+0.0087%8h2,778.2+0.007%$1.08B$1.32B200x
Bybit ETHUSDT+0.0091%8h2,778.3+0.013%$2.52B$4.63B150xas long as short
KuCoin ETHUSDTM+0.0093%8h2,778.1+0.005%$423.5M$739.5M100xas long as short
Vest ETH-PERP+0.0096%1h2,778.5+0.020%—$1.1M50xas long as short
Lighter ETH+0.0096%1h2,778.3+0.013%$115.3M$503.7M50xas long as short
Lighter RH ETH+0.0096%1h2,779.7+0.064%$25.4M$122.1M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,777.5−0.017%$16.0M$10.5M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,778.4+0.016%$478K$2.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,780.8+0.102%$3.20B$2.35B25xas long as short
Pacifica ETH+0.0100%1h2,778.1+0.005%$31.2M$303.9M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,777.2−0.027%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,779.7+0.062%$2.7M$17.2M25xas long as short
Bulk ETH-USD+0.0100%1h2,777.9−0.001%$168.1M$250.4M25xas long as short
Backpack ETH_USDC_PERPlong+0.0100%1h2,778long leg$15.1M$44.1M50x
Variational Omni ETH+0.0100%8h2,775.9−0.073%$147.5M$336.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,777−0.033%$181.7M$781.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,775.7−0.082%$161.4M$90.8M50xas long as short
StandX ETH-USD+0.0100%1h2,776.3−0.060%$21.4M$58.2M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,779.8+0.066%$10.8M$7.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,778.8+0.030%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,780.7+0.099%$42.8M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,777.8−0.007%$973K$13.9M100xas long as short
Extended ETH-USD+0.0104%1h2,777.3−0.022%$32.6M$77.6M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,779.3+0.047%—$41.8M500xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,779.2+0.045%$60.1M$4.61B50xas long as short
Kalshi KXETHPERP+0.0126%8h2,778.3+0.012%$8.4M$681.5M4.9xas long as short
Orderly PERP_ETH_USDC+0.0135%8h2,781.2+0.116%$32.6M$12.0M100xas long as short
Kraken Futures PF_ETHUSD+0.0169%1h2,779.1+0.042%$86.6M$332.6M100xas long as short
BloFin ETH-USDT+0.0181%8h2,776.5−0.054%$284.8M$194.9M150xas long as short
Reya ETHRUSDPERP+0.0196%1h2,778.3+0.012%$7.4M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0288%1h2,777.5−0.016%$270K$1.5M20xas long as short