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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 08:00 UTC+0.0015%/8h= +1.6% APRnext payment +$0.15 per $10,000 · paid last 24h +0.007%
Price spread now: Bybit against BingX+0.016%7-day average +0.041% · you sell dearer than you buy
Net, funding: paid 7d − costs−$22as in the Funding arb table
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$220.221% of the position
Long on BingXShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days−0.003%$0 on $10k
Price spread, last 7 days0.000%$0 · spread now +0.016%, 7d avg +0.041%
Together, before fees−0.003%$0 on $10k · with fees, hour by hour
Funding pays, the price is against you. Bybit is 0.024% cheaper against BingX than usual: you would sell low and buy high (spread +0.016% now, against its 7-day average of +0.041%). If the spread goes back, that is −$2 on $10k: about 5.5 days of funding at the current rate ($0 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBingX ETH-USDC2,735.40.0058pay 0.0058% / 8h4h 32m—$18.4M—
ShortBybit ETHUSDT2,735.80.0073get 0.0073% / 8h4h 32m$2.39B$4.35B150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit against BingX. 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
$3.06
Price spread: +0.016% → +0.041%
−$2.43
Slippage, 4 orders
−$1.11
Fee BingX: 5 bp × 2 orders
−$10
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$21.48
Costs to cover
0.221%
Break-even
56.1 days
Slippage from BingX: live order book, 6 min ago; Bybit: 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 BingX live order book, 6 min ago0.22 bp5.9 bp −$66.3 bp −$638.3 bp −$82911.5 bp −$5,760
Sell Bybit live order book, 2 min ago0.02 bp5.5 bp −$65.5 bp −$557.5 bp −$74510.2 bp −$5,113

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%43m2,735.2−0.006%$298K$5.6M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,730.9−0.163%$117K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,735.9+0.019%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,736.4+0.039%$12.0M—200xas long as short
dYdX ETH-USD0.0000%1h2,736+0.023%$10.8M$41.7M50xas long as short
01 Exchange ETHUSD0.0000%1h2,736.3+0.034%$188K$821K50xas long as short
Phoenix ETH0.0000%1h2,732−0.123%$829K$2.9M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,736.5+0.042%$27.9M—200xas long as short
Bullet ETH-USD+0.0007%1h2,735.8+0.017%$179K$1.7M20xas long as short
ApeX Omni ETHUSDT+0.0044%1h2,731.3−0.147%$8.9M$31.3M100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDClong+0.0058%8h2,735.4long leg—$18.4M—
HTX ETH-USDT+0.0063%8h2,735−0.014%$1.06B$1.19B200xas long as short
KuCoin ETHUSDTM+0.0067%8h2,735.7+0.012%$380.1M$575.5M100xas long as short
OKX ETH-USDT-SWAP+0.0070%8h2,735.9+0.019%$1.67B$10.72B100xas long as short
Phemex ETHUSDT+0.0071%8h2,736.2+0.029%$265.9M$65.4M150xas long as short
SoDEX ETH-USD+0.0072%1h2,736.1+0.027%$54.5M$187.7M40xas long as short
Bybit ETHUSDTshort+0.0073%8h2,735.8+0.016%$2.39B$4.35B150x
Aster ETHUSDT+0.0082%8h2,735.9+0.020%$251.0M$844.3M200xas long as short
MEXC ETH_USDT+0.0087%8h2,736+0.023%$1.53B$2.56B500xas long as short
Aevo ETH-PERP+0.0088%1h2,733.3−0.075%$4.9M$155K20xas long as short
Binance ETHUSDT+0.0088%8h2,736+0.023%$6.35B$15.88B150xas long as short
Lighter ETH+0.0096%1h2,736.4+0.039%$113.2M$438.4M50xas long as short
Lighter RH ETH+0.0096%1h2,736.9+0.056%$23.3M$106.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,736.2+0.032%—$30.8M500xas long as short
Paradex ETH-USD-PERP+0.0098%8h2,739.3+0.143%$15.5M$8.1M50xas long as short
RISEx ETH/USDC+0.0099%1h2,736.4+0.037%$5.6M$11.5M25xas long as short
Katana Perps ETH-USD+0.0100%8h2,735.4+0.001%$500K$3.2M50xas long as short
Nado ETH-PERP+0.0100%1h2,735.4+0.002%$13.8M$104.4M50xas long as short
Hyperliquid ETH+0.0100%1h2,738.4+0.111%$3.11B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,736.3+0.034%$32.0M$334.3M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,732.3−0.112%$2.7M$17.0M25xas long as short
Arcus ETH-USD+0.0100%1h2,736.2+0.031%$1.6M$16.3M25xas long as short
Bulk ETH-USD+0.0100%1h2,728.7−0.245%$166.6M$310.3M25xas long as short
Gate ETH_USDT+0.0100%8h2,735.9+0.019%$3.35B$8.87B200xas long as short
Bitget ETHUSDT+0.0100%8h2,736+0.024%$2.07B$2.74B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,734.4−0.035%$15.0M$39.7M50xas long as short
Variational Omni ETH+0.0100%8h2,726.6−0.322%$133.1M$325.4M—as long as short
edgeX ETHUSDC+0.0100%4h2,729.6−0.209%$183.6M$671.6M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,730.3−0.186%$158.8M$86.8M50xas long as short
StandX ETH-USD+0.0100%1h2,730.8−0.167%$21.1M$68.7M40xas long as short
Vest ETH-PERP+0.0100%1h2,736.2+0.032%—$843K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,737.6+0.082%$11.2M$9.1M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,736.1+0.026%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,737.6+0.083%$41.3M$29.8M15xas long as short
SunX ETH-USDT+0.0100%8h2,735.1−0.009%$958K$11.4M100xas long as short
Deribit ETH-PERPETUAL+0.0101%1h2,737.5+0.078%$260.2M$196.6M50xas long as short
Extended ETH-USD+0.0104%1h2,735.2−0.005%$30.3M$72.7M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,737.7+0.087%$51.3M$4.27B50xas long as short
Aftermath Perps ETHUSD+0.0120%1h2,732.4−0.107%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0146%8h2,733.5−0.068%$6.5M$678.7M4.9xas long as short
Orderly PERP_ETH_USDC+0.0193%8h2,738.6+0.117%$32.2M$11.5M100xas long as short
Reya ETHRUSDPERP+0.0221%1h2,735.2−0.005%$7.3M$1.2M25xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,737+0.059%$83.5M$314.8M100xas long as short
Hibachi ETH/USDT-P+0.0256%1h2,734.9−0.016%$253K$1.4M20xas long as short
BloFin ETH-USDT+0.0350%8h2,734−0.050%$283.4M$175.7M150xas long as short