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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 22:00 UTC−0.0174%/8h= −19.0% APRpaid last 24h −0.067%
Price spread now: GMX against BloFin+0.021%51s7-day average +0.031% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on BloFinShort on GMX
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.109%−$11 on $10k
Price spread, last 3 days (all we have)+0.186%+$19 · spread now +0.021%, 7d avg +0.031%
Together, before fees+0.077%+$8 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.031%, so right now this pair is about funding alone: −$5 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
LongBloFin ETH-USDT2,767.90.0165pay 0.0165% / 8h2h 43m$286.6M$195.3M150x
ShortGMX ETH/USD [ETH-USDC]2,768.5L +0.0028% / S +0.0009%pay 0.0001% / 1h43m 33s$13.1M—200x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

GMX against BloFin. 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
−$36.47
Price spread: +0.021% → +0.031%
−$0.99
Slippage, 4 orders
no order book: not counted
Fee BloFin: 6 bp × 2 orders
−$12
Fee GMX: 6 bp × 2 orders
−$12
Net
−$61.45
Costs to cover
0.240%
Break-even
never at this rate
Slippage unknown: BloFin: live order book, 6 min ago; GMX: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy BloFin live order book, 6 min ago0.13 bp6.1 bp −$66.3 bp −$636.9 bp −$6898.2 bp −$4,087
Sell GMX no order-book sample—————
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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%43m2,768+0.004%$289K$6.9M8.3xas long as short
ApeX Omni ETHUSDT−0.0119%1h2,768.2+0.009%$10.5M$30.9M100xas long as short
Injective ETH/USDC PERP−0.0107%1h2,770.7+0.101%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,768.8+0.032%$5K$2K50xas long as short
01 Exchange ETHUSD−0.0064%1h2,768.6+0.025%$172K$1.2M50xas long as short
Phoenix ETH−0.0023%1h2,771.3+0.122%$795K$3.7M25xas long as short
RISEx ETH/USDC−0.0011%1h2,768.5+0.021%$5.8M$12.0M25xas long as short
dYdX ETH-USD0.0000%1h2,769.1+0.043%$12.9M$45.3M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,768.5+0.020%$22.4M—200xas long as short
Phemex ETHUSDT+0.0022%8h2,768.1+0.006%$266.3M$66.0M150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0022%8h2,767.7−0.009%$1.70B$11.83B100xas long as short
Aftermath Perps ETHUSD+0.0024%1h2,771.8+0.140%$29K$21K20xas long as short
GMX ETH/USD [ETH-USDC]shortL +0.0028% / S +0.0009%1h2,768.5+0.021%$13.1M—200x
Aster ETHUSDT+0.0041%8h2,767.9+0.001%$255.7M$995.4M200xas long as short
MEXC ETH_USDT+0.0044%8h2,768.3+0.015%$1.59B$2.63B500xas long as short
Binance ETHUSDT+0.0044%8h2,768.3+0.014%$6.43B$17.18B150xas long as short
Aevo ETH-PERP+0.0048%1h2,765.8−0.075%$5.0M$636K20xas long as short
Gate ETH_USDT+0.0061%8h2,768.5+0.020%$3.29B$9.57B200xas long as short
Bitget ETHUSDT+0.0074%8h2,768+0.004%$2.09B$3.13B150xas long as short
Bullet ETH-USD+0.0080%1h2,767.8−0.004%$185K$1.8M20xas long as short
Variational Omni ETH+0.0092%8h2,771.1+0.114%$141.1M$318.8M—as long as short
Lighter ETH+0.0096%1h2,768.8+0.031%$115.1M$509.3M50xas long as short
Lighter RH ETH+0.0096%1h2,770+0.077%$25.3M$121.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,768.9+0.037%—$41.8M500xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,768+0.004%$15.9M$10.9M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,768.5+0.021%$481K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,768.2+0.012%$15.1M$116.2M50xas long as short
Hyperliquid ETH+0.0100%1h2,770.9+0.108%$3.19B$2.39B25xas long as short
Pacifica ETH+0.0100%1h2,768.7+0.029%$31.3M$283.2M50xas long as short
Bybit ETHUSDT+0.0100%8h2,767.9−0.001%$2.50B$4.64B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,768.4+0.018%$2.9M$16.5M25xas long as short
Arcus ETH-USD+0.0100%1h2,770.5+0.094%$2.8M$17.5M25xas long as short
Bulk ETH-USD+0.0100%1h2,770.8+0.105%$164.5M$255.4M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,768.6+0.024%$424.9M$742.3M100xas long as short
BingX ETH-USDC+0.0100%8h2,768.1+0.008%—$17.3M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,768.5+0.021%$15.4M$42.4M50xas long as short
edgeX ETHUSDC+0.0100%4h2,769.1+0.043%$178.0M$791.4M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,768.5+0.023%$161.0M$97.4M50xas long as short
StandX ETH-USD+0.0100%1h2,769.3+0.050%$21.4M$57.7M40xas long as short
Vest ETH-PERP+0.0100%1h2,769.1+0.043%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,769.5+0.057%$10.8M$7.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,768.3+0.016%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,769.8+0.069%$42.8M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,767.6−0.010%$971K$14.3M100xas long as short
SoDEX ETH-USD+0.0100%1h2,767.3−0.022%$55.1M$228.6M40xas long as short
HTX ETH-USDT+0.0100%8h2,767−0.033%$1.08B$1.32B200xas long as short
Extended ETH-USD+0.0104%1h2,767.8−0.004%$31.4M$76.1M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,768.9+0.036%$60.0M$4.63B50xas long as short
Kalshi KXETHPERP+0.0120%8h2,768.9+0.036%$8.7M$671.3M4.9xas long as short
Orderly PERP_ETH_USDC+0.0129%8h2,770.3+0.085%$32.5M$11.8M100xas long as short
BloFin ETH-USDTlong+0.0165%8h2,767.9long leg$286.6M$195.3M150x
Deribit ETH-PERPETUAL+0.0173%1h2,769.4+0.053%$259.0M$223.4M50xas long as short
Reya ETHRUSDPERP+0.0189%1h2,766.7−0.045%$7.5M$989K25xas long as short
Kraken Futures PF_ETHUSD+0.0241%1h2,768.6+0.025%$88.4M$329.8M100xas long as short
Hibachi ETH/USDT-P+0.0392%1h2,770.3+0.086%$273K$1.5M20xas long as short