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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+0.0096%/8h= +10.5% APRpaid last 24h +0.013%
Price spread now: Kraken Futures against Bitget+0.051%7-day average +0.009% · you sell dearer than you buy
Net, funding: paid 7d − costs−$14as in the Funding arb table
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$240.236% of the position
Long on BitgetShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 7 days+0.099%+$10 on $10k
Price spread, last 3 days (all we have)−0.091%−$9 · spread now +0.051%, 7d avg +0.009%
Together, before fees+0.008%+$1 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Kraken Futures is 0.042% dearer against Bitget than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.009%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBitget ETHUSDT2,775.40.0074pay 0.0074% / 8h1h 55m$2.10B$3.12B150x
ShortKraken Futures PF_ETHUSD2,776.80.0170get 0.0021% / 1h55m 14s$86.2M$331.6M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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
$20.06
Price spread: +0.051% → +0.009%
$4.2
Slippage, 4 orders
−$1.65
Fee Bitget: 6 bp × 2 orders
−$12
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$0.62
Costs to cover
0.236%
Break-even
6.8 days
Slippage from Bitget: live order book, 4 min ago; Kraken Futures: 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 Bitget live order book, 4 min ago0.02 bp6.0 bp −$66.9 bp −$698.2 bp −$824doesn't fit
Sell Kraken Futures live order book, 4 min ago0.18 bp5.7 bp −$69.2 bp −$9213.4 bp −$1,33823.3 bp −$11.7K

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%43m2,776+0.022%$290K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,775.1−0.012%$5.8M$12.1M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,775.3−0.004%$5K$2K50xas long as short
01 Exchange ETHUSD−0.0048%1h2,777.3+0.068%$169K$1.2M50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,773.8−0.058%$119K$22.5M52xas long as short
Phoenix ETH−0.0023%1h2,775.6+0.006%$886K$3.7M25xas long as short
Nado ETH-PERP−0.0011%1h2,776.7+0.047%$14.3M$118.9M50xas long as short
dYdX ETH-USD0.0000%1h2,775.6+0.007%$12.7M$45.5M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,776.9+0.052%$22.4M—200xas long as short
Aftermath Perps ETHUSD+0.0008%1h2,772.1−0.119%$29K$22K20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi ETH/USDT-P+0.0016%1h2,774.8−0.024%$279K$1.5M20xas long as short
BingX ETH-USDT+0.0018%8h2,776.1+0.023%—$1.19B—as long as short
OKX ETH-USDT-SWAP+0.0022%8h2,775.5+0.004%$1.71B$11.89B100xas long as short
Phemex ETHUSDT+0.0024%8h2,776.4+0.034%$267.4M$65.9M150xas long as short
GMX ETH/USD [ETH-USDC]L +0.0028% / S +0.0009%1h2,776.9+0.054%$13.2M—200xas long as short
Aster ETHUSDT+0.0033%8h2,776+0.021%$256.7M$993.7M200xas long as short
Bullet ETH-USD+0.0049%1h2,776.2+0.029%$183K$1.8M20xas long as short
MEXC ETH_USDT+0.0052%8h2,776.6+0.043%$1.60B$2.63B500xas long as short
Binance ETHUSDT+0.0053%8h2,776.6+0.041%$6.44B$17.20B150xas long as short
Aevo ETH-PERP+0.0056%1h2,776.9+0.054%$5.0M$636K20xas long as short
Bitget ETHUSDTlong+0.0074%8h2,775.4long leg$2.10B$3.12B150x
Gate ETH_USDT+0.0080%8h2,776.6+0.041%$3.29B$9.53B200xas long as short
Deribit ETH-PERPETUAL+0.0081%1h2,776.9+0.054%$258.4M$225.0M50xas long as short
Lighter ETH+0.0096%1h2,776.6+0.042%$115.2M$494.5M50xas long as short
Lighter RH ETH+0.0096%1h2,776.4+0.036%$25.4M$120.5M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,774.1−0.048%—$41.8M500xas long as short
HTX ETH-USDT+0.0098%8h2,775.7+0.011%$1.08B$1.32B200xas long as short
Variational Omni ETH+0.0098%8h2,772.1−0.118%$135.2M$326.5M—as long as short
Paradex ETH-USD-PERP+0.0100%8h2,775−0.015%$15.9M$10.7M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,775.8+0.014%$482K$2.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,779.2+0.136%$3.20B$2.40B25xas long as short
Pacifica ETH+0.0100%1h2,775.4−0.001%$31.3M$293.6M50xas long as short
Bybit ETHUSDT+0.0100%8h2,775.8+0.014%$2.52B$4.63B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,774.3−0.040%$2.8M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,776.8+0.049%$2.8M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,771−0.161%$164.2M$249.6M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,776.9+0.053%$423.1M$740.2M100xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,773.8−0.059%$15.2M$44.0M50xas long as short
edgeX ETHUSDC+0.0100%4h2,768.2−0.262%$179.4M$778.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,770.8−0.167%$161.2M$96.1M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,767.8−0.273%$8.7M$32.6M100xas long as short
StandX ETH-USD+0.0100%1h2,769.7−0.206%$21.4M$57.9M40xas long as short
Vest ETH-PERP+0.0100%1h2,776.2+0.030%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,778.4+0.107%$10.8M$7.7M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,776.5+0.039%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,777.6+0.079%$42.7M$29.3M15xas long as short
SunX ETH-USDT+0.0100%8h2,775.4+0.001%$972K$14.1M100xas long as short
SoDEX ETH-USD+0.0100%1h2,775.4−0.001%$55.3M$228.6M40xas long as short
Extended ETH-USD+0.0104%1h2,774.9−0.021%$31.5M$75.3M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,777+0.057%$60.0M$4.62B50xas long as short
Kalshi KXETHPERP+0.0109%8h2,774.3−0.040%$8.6M$673.3M4.9xas long as short
Orderly PERP_ETH_USDC+0.0137%8h2,778.3+0.105%$32.6M$12.0M100xas long as short
Kraken Futures PF_ETHUSDshort+0.0170%1h2,776.8+0.051%$86.2M$331.6M100x
BloFin ETH-USDT+0.0173%8h2,775.7+0.009%$286.5M$195.2M150xas long as short
Reya ETHRUSDPERP+0.0187%1h2,777.1+0.061%$7.4M$1.1M25xas long as short