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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.12 per $10,000 · paid last 24h +0.021%
Price spread now: dYdX against Bulk−0.024%7-day average −0.016% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$270.265% of the position
Long on BulkShort on dYdX
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.213%+$21 on $10k
Price spread, last 7 days+0.090%+$9 · spread now −0.024%, 7d avg −0.016%
Together, before fees+0.303%+$30 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.016%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair paid +0.213%, so the current rate has only just turned against you.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBulk ETH-USD2,733.70.0100pay 0.0013% / 1h4m 28s$169.4M$313.3M25x
ShortdYdX ETH-USD2,7330.0000get 0.0000% / 1h4m 28s$10.7M$41.9M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

dYdX 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
−$20.96
Price spread: −0.024% → −0.016%
−$0.85
Slippage, 4 orders
−$9.55
Fee Bulk: 3.5 bp × 2 orders
−$7
Fee dYdX: 5 bp × 2 orders
−$10
Net
−$48.36
Costs to cover
0.265%
Break-even
never at this rate
Slippage from Bulk: live order book, 5 min ago; dYdX: live order book, 5 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, 5 min ago0.02 bp3.5 bp −$43.7 bp −$375.3 bp −$5306.4 bp −$3,181
Sell dYdX live order book, 5 min ago4.76 bp9.8 bp −$1014.7 bp −$14722.3 bp −$2,23326.0 bp −$13.0K

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%43m2,733−0.025%$297K$5.6M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,734.2+0.019%$117K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,733.8+0.005%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,733.6−0.003%$11.9M—200xas long as short
01 Exchange ETHUSD0.0000%1h2,734.2+0.019%$187K$821K50xas long as short
Phoenix ETH0.0000%1h2,733.9+0.008%$826K$2.9M25xas long as short
dYdX ETH-USDshort0.0000%1h2,733−0.024%$10.7M$41.9M50x
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,734.7+0.038%$28.1M—200xas long as short
Bullet ETH-USD+0.0014%1h2,734.2+0.020%$179K$1.7M20xas long as short
HTX ETH-USDT+0.0021%8h2,732.3−0.050%$1.06B$1.20B200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0044%8h2,733−0.024%—$18.5M—as long as short
Bybit ETHUSDT+0.0054%8h2,733.6−0.001%$2.38B$4.35B150xas long as short
ApeX Omni ETHUSDT+0.0063%1h2,732.3−0.052%$8.7M$31.3M100xas long as short
KuCoin ETHUSDTM+0.0066%8h2,733.8+0.003%$380.3M$573.5M100xas long as short
OKX ETH-USDT-SWAP+0.0075%8h2,734+0.012%$1.67B$10.71B100xas long as short
Phemex ETHUSDT+0.0081%8h2,733.2−0.017%$265.6M$65.2M150xas long as short
Aster ETHUSDT+0.0085%8h2,733.6−0.003%$251.0M$841.9M200xas long as short
MEXC ETH_USDT+0.0094%8h2,734.3+0.023%$1.55B$2.57B500xas long as short
Binance ETHUSDT+0.0095%8h2,733.8+0.006%$6.35B$15.87B150xas long as short
Lighter ETH+0.0096%1h2,733.7+0.003%$112.8M$441.9M50xas long as short
Lighter RH ETH+0.0096%1h2,734.9+0.043%$23.5M$106.8M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,733.1−0.019%—$30.9M500xas long as short
Aevo ETH-PERP+0.0096%1h2,730.8−0.104%$4.9M$155K20xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,737.1+0.125%$15.5M$8.0M50xas long as short
RISEx ETH/USDC+0.0099%1h2,734.4+0.027%$5.6M$11.7M25xas long as short
Katana Perps ETH-USD+0.0100%8h2,733.5−0.006%$500K$3.3M50xas long as short
Nado ETH-PERP+0.0100%1h2,733.4−0.009%$13.6M$104.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,736.6+0.107%$3.11B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,734.4+0.026%$32.0M$335.0M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,732.7−0.035%$2.7M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,734.4+0.026%$1.6M$16.0M25xas long as short
Bulk ETH-USDlong+0.0100%1h2,733.7long leg$169.4M$313.3M25x
Gate ETH_USDT+0.0100%8h2,733.8+0.004%$3.34B$8.93B200xas long as short
Bitget ETHUSDT+0.0100%8h2,734.4+0.027%$2.07B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,732.1−0.059%$15.0M$39.6M50xas long as short
Variational Omni ETH+0.0100%8h2,732−0.062%$133.7M$324.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,732.4−0.048%$183.8M$670.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,733.6−0.004%$159.0M$86.4M50xas long as short
StandX ETH-USD+0.0100%1h2,733.5−0.006%$21.1M$68.2M40xas long as short
Vest ETH-PERP+0.0100%1h2,734.8+0.041%—$843K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,736+0.085%$11.2M$9.3M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,733.5−0.006%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,735+0.047%$41.3M$29.8M15xas long as short
SunX ETH-USDT+0.0100%8h2,732.2−0.054%$958K$11.3M100xas long as short
SoDEX ETH-USD+0.0100%1h2,733.2−0.017%$54.4M$187.6M40xas long as short
Extended ETH-USD+0.0104%1h2,732.9−0.029%$30.4M$72.9M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,734.3+0.021%$51.3M$4.27B50xas long as short
Aftermath Perps ETHUSD+0.0117%1h2,734+0.013%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0131%8h2,733.4−0.010%$6.7M$678.6M4.9xas long as short
Deribit ETH-PERPETUAL+0.0149%1h2,734.7+0.036%$259.6M$196.3M50xas long as short
Orderly PERP_ETH_USDC+0.0197%8h2,735.6+0.070%$32.2M$11.7M100xas long as short
Reya ETHRUSDPERP+0.0216%1h2,733.6−0.002%$7.3M$1.2M25xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,733.9+0.008%$83.2M$314.8M100xas long as short
Hibachi ETH/USDT-P+0.0280%1h2,734.2+0.019%$249K$1.4M20xas long as short
BloFin ETH-USDT+0.0378%8h2,733.5−0.007%$283.3M$175.7M150xas long as short