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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+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h +0.005%
Price spread now: Extended against Bulk+0.009%7-day average −0.059% · 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−$120.124% of the position
Long on BulkShort on Extended
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.008%+$1 on $10k
Price spread, last 7 days−0.037%−$4 · spread now +0.009%, 7d avg −0.059%
Together, before fees−0.029%+ Points / potential airdropExtended: Active · farm board−$3 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: Extended is 0.067% dearer against Bulk than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.059%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBulk ETH-USD2,739.70.0100pay 0.0013% / 1h55m 55s$165.8M$302.8M25x
ShortExtended ETH-USD2,7400.0104get 0.0013% / 1h55m 55s$30.6M$72.3M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Extended against Bulk. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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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: +0.009% → −0.059%
$6.72
Slippage, 4 orders
−$0.4
Fee Bulk: 3.5 bp × 2 orders
−$7
Fee Extended: 2.5 bp × 2 orders
−$5
Net
−$4.84
Costs to cover
0.124%
Break-even
47.3 days
Slippage from Bulk: live order book, 3 min ago; Extended: 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 −$353.5 bp −$3525.4 bp −$2,697
Sell Extended live order book, 3 min ago0.18 bp2.7 bp −$32.7 bp −$274.3 bp −$42913.3 bp −$6,669

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
Injective ETH/USDC PERP−0.0141%1h2,736.3−0.125%$117K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,739.6−0.004%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,741.8+0.078%$12.0M—200xas long as short
dYdX ETH-USD0.0000%1h2,741.3+0.057%$10.8M$41.7M50xas long as short
01 Exchange ETHUSD0.0000%1h2,742.5+0.101%$182K$834K50xas long as short
Perpl ETH0.0000%43m2,741.3+0.057%$300K$5.5M8.3xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,742+0.084%$25.3M—200xas long as short
Phoenix ETH+0.0017%1h2,739−0.026%$844K$2.9M25xas long as short
ApeX Omni ETHUSDT+0.0039%1h2,740.1+0.012%$8.8M$30.7M100xas long as short
BingX ETH-USDT+0.0055%8h2,741.6+0.069%—$1.14B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0069%8h2,741.1+0.049%$1.69B$10.61B100xas long as short
Bullet ETH-USD+0.0071%1h2,741.1+0.050%$180K$1.7M20xas long as short
KuCoin ETHUSDTM+0.0071%8h2,741+0.045%$380.8M$573.7M100xas long as short
SoDEX ETH-USD+0.0073%1h2,741.3+0.058%$54.6M$187.6M40xas long as short
Aster ETHUSDT+0.0082%8h2,741+0.047%$253.6M$840.6M200xas long as short
Aevo ETH-PERP+0.0088%1h2,738.8−0.032%$4.9M$154K20xas long as short
Binance ETHUSDT+0.0089%8h2,740.9+0.045%$6.37B$15.71B150xas long as short
MEXC ETH_USDT+0.0090%8h2,740+0.011%$1.56B$2.52B500xas long as short
Lighter ETH+0.0096%1h2,741.9+0.078%$112.4M$430.3M50xas long as short
Lighter RH ETH+0.0096%1h2,743.1+0.122%$24.6M$102.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,739.70.000%—$30.5M500xas long as short
RISEx ETH/USDC+0.0099%1h2,741.6+0.069%$5.6M$11.4M25xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,744.6+0.176%$15.8M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,740.1+0.014%$500K$3.1M50xas long as short
Nado ETH-PERP+0.0100%1h2,742.1+0.088%$13.9M$104.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,743.7+0.145%$3.11B$2.06B25xas long as short
Pacifica ETH+0.0100%1h2,741.1+0.050%$31.7M$335.1M50xas long as short
Bybit ETHUSDT+0.0100%8h2,740.8+0.039%$2.43B$4.19B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,740.6+0.032%$2.7M$16.9M25xas long as short
Arcus ETH-USD+0.0100%1h2,741.5+0.064%$2.8M$16.0M25xas long as short
Bulk ETH-USDlong+0.0100%1h2,739.7long leg$165.8M$302.8M25x
Gate ETH_USDT+0.0100%8h2,742.2+0.091%$3.38B$8.67B200xas long as short
Bitget ETHUSDT+0.0100%8h2,740.5+0.028%$2.08B$2.72B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,741.6+0.068%$15.0M$39.6M50xas long as short
Variational Omni ETH+0.0100%8h2,741+0.045%$133.2M$324.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,738.7−0.036%$182.0M$667.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,738.8−0.034%$159.2M$83.5M50xas long as short
StandX ETH-USD+0.0100%1h2,738.8−0.034%$21.2M$69.5M40xas long as short
Vest ETH-PERP+0.0100%1h2,741.7+0.072%—$843K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,742.7+0.109%$11.0M$8.8M50xas long as short
Derive ETH-PERP+0.0100%1h2,743.2+0.126%$41.4M$29.7M15xas long as short
SunX ETH-USDT+0.0100%8h2,740.9+0.044%$960K$11.4M100xas long as short
HTX ETH-USDT+0.0100%8h2,741.5+0.064%$1.06B$1.18B200xas long as short
Phemex ETHUSDT+0.0100%8h2,741.7+0.070%$266.4M$65.2M150xas long as short
Extended ETH-USDshort+0.0104%1h2,740+0.009%$30.6M$72.3M50x
Coinbase International ETH-PERP-INTX+0.0112%1h2,743.2+0.127%$53.1M$4.26B50xas long as short
Aftermath Perps ETHUSD+0.0132%1h2,740.3+0.021%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0158%8h2,740.7+0.036%$7.6M$672.6M4.9xas long as short
Deribit ETH-PERPETUAL+0.0191%1h2,743.1+0.124%$260.0M$194.9M50xas long as short
Orderly PERP_ETH_USDC+0.0195%8h2,743.8+0.150%$32.3M$11.5M100xas long as short
BloFin ETH-USDT+0.0210%8h2,737.7−0.076%$285.5M$175.3M150xas long as short
Kraken Futures PF_ETHUSD+0.0221%1h2,742.3+0.093%$86.0M$309.8M100xas long as short
Reya ETHRUSDPERP+0.0225%1h2,741.2+0.053%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,739.3−0.015%$251K$1.4M20xas long as short
Bluefin ETH-PERP+0.4134%1h2,742.4+0.098%$21K$20K25xas long as short