Settings8H · net · $10k
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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 07:00 UTC+0.0111%/8h= +12.1% APRnext payment +$0.14 per $10,000 · paid last 24h +0.017%
Price spread now: Kraken Futures against Backpack0.000%7-day average +0.018% · you buy dearer than you sell
Net, funding: paid 7d − costs−$19as in the Funding arb table
Net, price: spread back to 7d avg − costs−$23as in the Price arb table
costs, in and out, $10k−$220.216% of the position
Long on BackpackShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 7 days+0.026%+$3 on $10k
Price spread, last 4 days (all we have)−0.010%−$1 · spread now 0.000%, 7d avg +0.018%
Together, before fees+0.015%+$2 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.018%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack ETH_USDC_PERP2,731.10.0100pay 0.0013% / 1h4m 10s$15.1M$41.7M50x
ShortKraken Futures PF_ETHUSD2,731.10.0211get 0.0026% / 1h4m 10s$82.1M$309.7M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures 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
$23.22
Price spread: 0.000% → +0.018%
−$1.78
Slippage, 4 orders
−$1.55
Fee Backpack: 5 bp × 2 orders
−$10
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
−$0.11
Costs to cover
0.216%
Break-even
7.0 days
Slippage from Backpack: live order book, 5 min ago; Kraken Futures: live order book, 5 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, 5 min ago0.02 bp5.0 bp −$57.0 bp −$7029.8 bp −$2,976doesn't fit
Sell Kraken Futures live order book, 5 min ago0.18 bp6.0 bp −$67.1 bp −$718.5 bp −$85211.5 bp −$5,757

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%1h2,734.8+0.136%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0040%1h2,734.2+0.114%$117K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,731.2+0.003%$11.9M—200xas long as short
Phoenix ETH−0.0006%1h2,734.4+0.121%$814K$3.0M25xas long as short
dYdX ETH-USD0.0000%1h2,732.6+0.056%$10.5M$42.8M50xas long as short
Kalshi KXETHPERP0.0000%8h2,731.8+0.026%$6.6M$682.3M4.9xas long as short
Perpl ETH0.0000%43m2,731.6+0.019%$288K$5.8M8.3xas long as short
Deribit ETH-PERPETUAL0.0000%1h2,731.7+0.024%$262.5M$213.2M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,731.2+0.002%$33.0M—200xas long as short
01 Exchange ETHUSD+0.0016%1h2,731.6+0.019%$191K$890K50xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0022%8h2,730.3−0.028%—$18.6M—as long as short
ApeX Omni ETHUSDT+0.0025%1h2,731.9+0.031%$8.6M$31.5M100xas long as short
Bybit ETHUSDT+0.0027%8h2,730.8−0.011%$2.33B$4.38B150xas long as short
HTX ETH-USDT+0.0029%8h2,731−0.002%$1.05B$1.22B200xas long as short
KuCoin ETHUSDTM+0.0068%8h2,731.1+0.001%$385.9M$576.7M100xas long as short
SoDEX ETH-USD+0.0071%1h2,730.6−0.018%$54.4M$187.2M40xas long as short
OKX ETH-USDT-SWAP+0.0080%8h2,730.8−0.010%$1.65B$10.86B100xas long as short
Aster ETHUSDT+0.0083%8h2,731.1+0.001%$253.0M$846.9M200xas long as short
Phemex ETHUSDT+0.0091%8h2,730.8−0.010%$262.9M$64.5M150xas long as short
Bullet ETH-USD+0.0091%1h2,730.7−0.014%$188K$1.7M20xas long as short
MEXC ETH_USDT+0.0095%8h2,731−0.003%$1.54B$2.61B500xas long as short
Binance ETHUSDT+0.0095%8h2,730.9−0.007%$6.33B$16.11B150xas long as short
Lighter ETH+0.0096%1h2,731.7+0.022%$112.7M$439.2M50xas long as short
Lighter RH ETH+0.0096%1h2,732.6+0.056%$23.5M$103.5M50xas long as short
Aevo ETH-PERP+0.0096%1h2,728.5−0.095%$4.9M$171K20xas long as short
Katana Perps ETH-USD+0.0100%8h2,730.8−0.011%$502K$3.5M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,736.3+0.191%$15.4M$7.9M50xas long as short
Nado ETH-PERP+0.0100%1h2,731.3+0.008%$14.2M$104.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,733.4+0.085%$3.11B$2.04B25xas long as short
Pacifica ETH+0.0100%1h2,732.6+0.057%$32.0M$332.9M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,731.3+0.008%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,731.8+0.027%$1.5M$16.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,731.8+0.026%$164.2M$349.6M25xas long as short
Gate ETH_USDT+0.0100%8h2,731.1+0.001%$3.31B$9.05B200xas long as short
Bitget ETHUSDT+0.0100%8h2,731.1+0.001%$2.10B$2.77B150xas long as short
Backpack ETH_USDC_PERPlong+0.0100%1h2,731.1long leg$15.1M$41.7M50x
Variational Omni ETH+0.0100%8h2,732.5+0.053%$134.3M$320.4M—as long as short
edgeX ETHUSDC+0.0100%4h2,731.3+0.008%$185.7M$682.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,732.6+0.056%$158.8M$84.8M50xas long as short
StandX ETH-USD+0.0100%1h2,733.5+0.088%$21.0M$70.3M40xas long as short
Vest ETH-PERP+0.0100%1h2,732.8+0.064%—$445K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,732+0.033%$11.2M$9.5M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,731.9+0.029%$22K$21K25xas long as short
Derive ETH-PERP+0.0100%1h2,732.6+0.056%$40.9M$30.1M15xas long as short
SunX ETH-USDT+0.0100%8h2,730.5−0.021%$957K$10.9M100xas long as short
Aftermath Perps ETHUSD+0.0102%1h2,733.1+0.072%$30K$20K20xas long as short
Extended ETH-USD+0.0104%1h2,729.8−0.046%$30.4M$72.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0056%1h2,731.9+0.031%—$30.5M500xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,731.8+0.027%$46.5M$4.31B50xas long as short
RISEx ETH/USDC+0.0115%1h2,731.7+0.022%$5.6M$11.6M25xas long as short
Hibachi ETH/USDT-P+0.0128%1h2,734.7+0.130%$243K$1.4M20xas long as short
Orderly PERP_ETH_USDC+0.0185%8h2,732.9+0.068%$32.2M$11.3M100xas long as short
Reya ETHRUSDPERP+0.0187%1h2,729.9−0.042%$7.3M$975K25xas long as short
Kraken Futures PF_ETHUSDshort+0.0211%1h2,731.10.000%$82.1M$309.7M100x
BloFin ETH-USDT+0.0359%8h2,731.7+0.021%$281.4M$176.1M150xas long as short