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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 12:00 UTC−0.0090%/8h= −9.9% APRnext payment −$0.90 per $10,000 · paid last 24h +0.002%
Price spread now: Kalshi against Binance−0.003%51s7-day average −0.008% · you buy dearer than you sell
Net, funding: paid 7d − costs−$26as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$210.213% of the position
Long on BinanceShort on Kalshi
What this pair did over the last
the charts below follow
Funding, last 7 days−0.052%−$5 on $10k
Price spread, last 7 days+0.016%+$2 · spread now −0.003%, 7d avg −0.008%
Together, before fees−0.035%−$4 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.008%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBinance ETHUSDT2,749.90.0090pay 0.0090% / 8h5h 58m$6.41B$14.12B150x
ShortKalshi KXETHPERP2,749.80get 0.0000% / 8h1h 58m$7.3M$661.3M4.9x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kalshi against Binance. 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
−$18.96
Price spread: −0.003% → −0.008%
$0.58
Slippage, 4 orders
−$1.3
Fee Binance: 5 bp × 2 orders
−$10
Fee Kalshi: 5 bp × 2 orders
−$10
Net
−$39.69
Costs to cover
0.213%
Break-even
never at this rate
Slippage from Binance: live order book, 9 min ago; Kalshi: 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 Binance live order book, 9 min ago0.02 bp5.0 bp −$55.4 bp −$546.8 bp −$6839.3 bp −$4,658
Sell Kalshi live order book, 4 min ago0.36 bp5.7 bp −$67.0 bp −$7010.1 bp −$1,01016.4 bp −$8,221

ETH on 54 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi ETH/USDT-P−0.0120%1h2,750.1+0.007%$235K$1.2M20xas long as short
Hotstuff ETH-PERP−0.0080%1h2,749.4−0.017%$5K$1K50xas long as short
Phoenix ETH−0.0023%1h2,748.5−0.050%$808K$2.8M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,749.4−0.019%$12.0M—200xas long as short
Bybit ETHUSDT0.0000%8h2,749.9+0.001%$2.37B$3.83B150xas long as short
Kalshi KXETHPERPshort0.0000%8h2,749.8−0.003%$7.3M$661.3M4.9x
Perpl ETH0.0000%43m2,749.9+0.001%$269K$5.0M8.3xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,748.8−0.039%$33.2M—200xas long as short
ApeX Omni ETHUSDT+0.0020%1h2,748.6−0.046%$8.3M$25.3M100xas long as short
dYdX ETH-USD+0.0067%1h2,750.6+0.027%$15.3M$42.8M50xas long as short
Show all 54 exchanges
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0068%8h2,749.6−0.010%$1.67B$9.27B100xas long as short
01 Exchange ETHUSD+0.0072%1h2,750+0.005%$183K$951K50xas long as short
Gate ETH_USDT+0.0082%8h2,749.5−0.012%$3.27B$7.67B200xas long as short
Aster ETHUSDT+0.0084%8h2,749.7−0.005%$257.6M$723.8M200xas long as short
KuCoin ETHUSDTM+0.0088%8h2,749.4−0.017%$365.3M$443.3M100xas long as short
Aevo ETH-PERP+0.0088%1h2,748.9−0.035%$4.9M$213K20xas long as short
MEXC ETH_USDT+0.0090%8h2,749.5−0.013%$1.60B$2.33B500xas long as short
Binance ETHUSDTlong+0.0090%8h2,749.9long leg$6.41B$14.12B150x
Lighter ETH+0.0096%1h2,750.6+0.026%$114.3M$382.1M50xas long as short
Lighter RH ETH+0.0096%1h2,751.6+0.064%$23.8M$93.6M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,749.7−0.005%—$23.6M500xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,750.6+0.027%$46.2M$3.91B50xas long as short
Aftermath Perps ETHUSD+0.0098%1h2,748.7−0.041%$30K$8K20xas long as short
Katana Perps ETH-USD+0.0100%8h2,749−0.032%$508K$3.4M50xas long as short
Nado ETH-PERP+0.0100%1h2,750.4+0.020%$14.6M$96.2M50xas long as short
Pacifica ETH+0.0100%1h2,750.8+0.033%$32.4M$325.1M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,749.2−0.024%$2.8M$14.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,750.6+0.027%$1.5M$14.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,748.6−0.047%$165.1M$334.7M25xas long as short
Bitget ETHUSDT+0.0100%8h2,749.5−0.012%$2.11B$2.31B150xas long as short
BingX ETH-USDT+0.0100%8h2,749.7−0.006%—$945.4M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,749.1−0.029%$14.9M$36.4M50xas long as short
Variational Omni ETH+0.0100%8h2,747.4−0.088%$132.5M$292.4M—as long as short
edgeX ETHUSDC+0.0100%4h2,747.4−0.091%$185.1M$624.7M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,747.8−0.075%$159.8M$68.6M50xas long as short
StandX ETH-USD+0.0100%1h2,749.9+0.001%$21.1M$75.7M40xas long as short
Vest ETH-PERP+0.0100%1h2,751+0.042%—$352K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,750.9+0.037%$11.3M$8.6M50xas long as short
Bullet ETH-USD+0.0100%1h2,749.6−0.010%$177K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,750.2+0.011%$20K$14K25xas long as short
SunX ETH-USDT+0.0100%8h2,749.2−0.023%$948K$8.7M100xas long as short
SoDEX ETH-USD+0.0100%1h2,749.7−0.006%$61.9M$121.9M40xas long as short
HTX ETH-USDT+0.0100%8h2,749.8−0.002%$1.05B$1.05B200xas long as short
Phemex ETHUSDT+0.0100%8h2,749.6−0.010%$264.3M$57.5M150xas long as short
Extended ETH-USD+0.0104%1h2,748.7−0.044%$30.5M$65.4M50xas long as short
Kraken Futures PF_ETHUSD+0.0105%1h2,750+0.003%$82.5M$275.4M100xas long as short
Deribit ETH-PERPETUAL+0.0106%1h2,750.8+0.032%$266.7M$186.1M50xas long as short
Reya ETHRUSDPERP+0.0157%1h2,748.1−0.066%$7.3M$837K25xas long as short
Orderly PERP_ETH_USDC+0.0174%8h2,752.2+0.085%$32.5M$10.0M100xas long as short
RISEx ETH/USDC+0.0206%1h2,750.3+0.017%$5.7M$10.6M25xas long as short
Hyperliquid ETH+0.0238%1h2,752.6+0.099%$3.16B$1.75B25xas long as short
BloFin ETH-USDT+0.0361%8h2,749.6−0.009%$283.3M$150.4M150xas long as short
Injective ETH/USDC PERP+0.0461%1h2,751.5+0.059%$118K$21.7M52xas long as short
Paradex ETH-USD-PERP+0.0500%8h2,754.2+0.157%$15.9M$6.2M50xas long as short