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Funding arb · Price arb /

ETH

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Measured
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Alert: spread
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Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%
Price spread now: Coinbase International against Bulk+0.247%7-day average +0.013% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs+$6as in the Price arb table
costs, in and out, $10k−$170.171% of the position
Long on BulkShort on Coinbase International
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.006%+$1 on $10k
Price spread, last 3 days (all we have)−0.271%−$27 · spread now +0.247%, 7d avg +0.013%
Together, before fees−0.265%−$26 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Coinbase International is 0.234% dearer against Bulk than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of +0.013%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBulk ETH-USD2,770.80.0100pay 0.0013% / 1h1m 01s$166.1M$253.0M25x
ShortCoinbase International ETH-PERP-INTX2,777.70.0104get 0.0013% / 1h1m 01s$59.9M$4.60B50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Coinbase International against Bulk. 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
$0.84
Price spread: +0.247% → +0.013%
$23.36
Slippage, 4 orders
−$0.07
Fee Bulk: 3.5 bp × 2 orders
−$7
Fee Coinbase International: 5 bp × 2 orders
−$10
Net
$7.13
Costs to cover
0.171%
Break-even
from the start
Slippage from Bulk: live order book, 3 min ago; Coinbase International: live order book, 3 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 Bulk live order book, 3 min ago0.02 bp3.5 bp −$43.5 bp −$353.6 bp −$3574.7 bp −$2,345
Sell Coinbase International live order book, 3 min ago0.02 bp5.0 bp −$55.0 bp −$506.4 bp −$63719.2 bp −$9,621

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%43m2,776.6+0.208%$288K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,775.7+0.175%$5.7M$11.9M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,776.6+0.208%$5K$2K50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,771.7+0.032%$119K$22.5M52xas long as short
01 Exchange ETHUSD−0.0040%1h2,776.7+0.212%$169K$1.2M50xas long as short
dYdX ETH-USD0.0000%1h2,777.1+0.225%$12.7M$45.8M50xas long as short
Phoenix ETH0.0000%1h2,775.6+0.172%$885K$3.7M25xas long as short
Aftermath Perps ETHUSD0.0000%1h2,775.9+0.184%$29K$22K20xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,777.5+0.240%$22.4M—200xas long as short
OKX ETH-USDT-SWAP+0.0018%8h2,778.4+0.273%$1.70B$11.88B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bullet ETH-USD+0.0022%1h2,776.2+0.194%$182K$1.7M20xas long as short
Phemex ETHUSDT+0.0023%8h2,776.9+0.218%$270.5M$68.8M150xas long as short
GMX ETH/USD [ETH-USDC]L +0.0027% / S +0.0009%1h2,777.2+0.232%$12.9M—200xas long as short
Aster ETHUSDT+0.0033%8h2,778.5+0.277%$254.9M$995.5M200xas long as short
Deribit ETH-PERPETUAL+0.0034%1h2,778.1+0.261%$258.7M$222.7M50xas long as short
Nado ETH-PERP+0.0056%1h2,776.1+0.190%$14.3M$118.2M50xas long as short
Aevo ETH-PERP+0.0056%1h2,774.2+0.121%$5.0M$636K20xas long as short
ApeX Omni ETHUSDT+0.0058%1h2,777.6+0.243%$8.8M$32.7M100xas long as short
MEXC ETH_USDT+0.0060%8h2,778.6+0.279%$1.60B$2.68B500xas long as short
Binance ETHUSDT+0.0061%8h2,778.6+0.281%$6.44B$17.24B150xas long as short
SoDEX ETH-USD+0.0061%1h2,776.5+0.205%$55.3M$229.0M40xas long as short
Bitget ETHUSDT+0.0065%8h2,778+0.257%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0072%8h2,778.6+0.279%$3.31B$9.69B200xas long as short
BingX ETH-USDC+0.0076%8h2,778.1+0.263%—$17.4M—as long as short
HTX ETH-USDT+0.0088%8h2,776.4+0.200%$1.08B$1.32B200xas long as short
Bybit ETHUSDT+0.0092%8h2,778.5+0.278%$2.52B$4.63B150xas long as short
KuCoin ETHUSDTM+0.0093%8h2,776.5+0.205%$422.4M$739.2M100xas long as short
Lighter ETH+0.0096%1h2,776.9+0.220%$115.2M$503.6M50xas long as short
Lighter RH ETH+0.0096%1h2,778.5+0.278%$25.5M$122.0M50xas long as short
Vest ETH-PERP+0.0096%1h2,776.7+0.214%—$1.1M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,776.1+0.191%$16.0M$10.5M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,776.5+0.205%$477K$2.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,781.2+0.374%$3.20B$2.35B25xas long as short
Pacifica ETH+0.0100%1h2,776.8+0.215%$31.2M$303.9M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,775.6+0.172%$2.8M$17.1M25xas long as short
Arcus ETH-USD+0.0100%1h2,777.1+0.227%$2.7M$17.2M25xas long as short
Bulk ETH-USDlong+0.0100%1h2,770.8long leg$166.1M$253.0M25x
Backpack ETH_USDC_PERP+0.0100%1h2,778.6+0.282%$15.1M$44.1M50xas long as short
Variational Omni ETH+0.0100%8h2,773.7+0.104%$147.3M$337.0M—as long as short
edgeX ETHUSDC+0.0100%4h2,777+0.224%$181.7M$781.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,775.7+0.176%$161.4M$90.8M50xas long as short
StandX ETH-USD+0.0100%1h2,776.3+0.198%$21.4M$58.2M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,777.4+0.237%$10.8M$7.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,777.3+0.234%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,778.9+0.293%$42.8M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,775.5+0.167%$974K$14.0M100xas long as short
Extended ETH-USD+0.0104%1h2,777.5+0.240%$32.6M$77.5M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,777+0.221%—$41.8M500xas long as short
Coinbase International ETH-PERP-INTXshort+0.0104%1h2,777.7+0.247%$59.9M$4.60B50x
Kalshi KXETHPERP+0.0126%8h2,776.8+0.216%$8.4M$681.5M4.9xas long as short
Orderly PERP_ETH_USDC+0.0135%8h2,779.4+0.309%$32.6M$12.0M100xas long as short
Kraken Futures PF_ETHUSD+0.0169%1h2,777.6+0.245%$86.4M$332.5M100xas long as short
BloFin ETH-USDT+0.0181%8h2,776.5+0.203%$284.8M$194.9M150xas long as short
Reya ETHRUSDPERP+0.0196%1h2,776+0.185%$7.4M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0288%1h2,777.7+0.248%$270K$1.5M20xas long as short