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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 04:00 UTC−0.0180%/8h= −19.7% APRnext payment −$0.23 per $10,000 · paid last 24h −0.050%
Price spread now: Hotstuff against Bulk+0.265%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on BulkShort on Hotstuff
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories
The price spread pays, funding is against you. Hotstuff is 0.265% dearer against Bulk than usual: you sell high and buy low (spread +0.265% now, against zero (this spread has no 7-day history yet)): +$27 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 4.9 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBulk ETH-USD2,728.70.0100pay 0.0013% / 1h32m 29s$166.6M$310.3M25x
ShortHotstuff ETH-PERP2,735.9−0.0080pay 0.0010% / 1h32m 29s$5K$1K50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hotstuff 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
−$37.8
Price spread: +0.265% → 0.000%
$26.51
Slippage, 4 orders
no order book: not counted
Fee Bulk: 3.5 bp × 2 orders
−$7
Fee Hotstuff: 2.5 bp × 2 orders
−$5
Net
−$23.29
Costs to cover
0.120%
Break-even
from the start
Slippage unknown: Bulk: live order book, 2 min ago; Hotstuff: 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 Bulk live order book, 2 min ago0.02 bp3.5 bp −$43.5 bp −$354.1 bp −$4125.4 bp −$2,688
Sell Hotstuff no order-book sample—————
Hotstuff: 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%43m2,735.2+0.240%$298K$5.6M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,730.9+0.082%$117K$22.5M52xas long as short
Hotstuff ETH-PERPshort−0.0080%1h2,735.9+0.265%$5K$1K50x
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,734.4+0.211%$11.9M—200xas long as short
dYdX ETH-USD0.0000%1h2,736+0.268%$10.8M$41.7M50xas long as short
01 Exchange ETHUSD0.0000%1h2,736.3+0.280%$188K$821K50xas long as short
Phoenix ETH0.0000%1h2,732+0.122%$829K$2.9M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,734.6+0.216%$27.5M—200xas long as short
Bullet ETH-USD+0.0007%1h2,734+0.196%$178K$1.7M20xas long as short
ApeX Omni ETHUSDT+0.0044%1h2,731.3+0.098%$8.9M$31.3M100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDT+0.0058%8h2,735.3+0.243%—$1.14B—as long as short
HTX ETH-USDT+0.0064%8h2,733.4+0.173%$1.06B$1.20B200xas long as short
KuCoin ETHUSDTM+0.0067%8h2,735.2+0.239%$380.1M$575.5M100xas long as short
SoDEX ETH-USD+0.0068%1h2,734.3+0.207%$54.5M$187.7M40xas long as short
OKX ETH-USDT-SWAP+0.0070%8h2,735.7+0.259%$1.67B$10.72B100xas long as short
Bybit ETHUSDT+0.0073%8h2,735.6+0.255%$2.39B$4.35B150xas long as short
Phemex ETHUSDT+0.0074%8h2,734.1+0.200%$265.7M$65.4M150xas long as short
Aevo ETH-PERP+0.0080%1h2,731.6+0.106%$4.9M$155K20xas long as short
Aster ETHUSDT+0.0082%8h2,735.5+0.250%$251.6M$844.2M200xas long as short
MEXC ETH_USDT+0.0087%8h2,735.6+0.253%$1.53B$2.56B500xas long as short
Binance ETHUSDT+0.0088%8h2,736+0.268%$6.35B$15.87B150xas long as short
Lighter ETH+0.0096%1h2,735.8+0.260%$113.0M$438.0M50xas long as short
Lighter RH ETH+0.0096%1h2,736.9+0.302%$23.3M$106.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,733.5+0.177%—$30.8M500xas long as short
Paradex ETH-USD-PERP+0.0098%8h2,739.3+0.390%$15.5M$8.1M50xas long as short
RISEx ETH/USDC+0.0099%1h2,736.4+0.283%$5.6M$11.5M25xas long as short
Katana Perps ETH-USD+0.0100%8h2,735.4+0.247%$500K$3.2M50xas long as short
Nado ETH-PERP+0.0100%1h2,735.4+0.248%$13.8M$104.4M50xas long as short
Hyperliquid ETH+0.0100%1h2,738.4+0.357%$3.11B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,736.3+0.280%$32.0M$334.3M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,732.3+0.133%$2.7M$17.0M25xas long as short
Arcus ETH-USD+0.0100%1h2,736.2+0.277%$1.6M$16.3M25xas long as short
Bulk ETH-USDlong+0.0100%1h2,728.7long leg$166.6M$310.3M25x
Gate ETH_USDT+0.0100%8h2,735.4+0.246%$3.35B$8.87B200xas long as short
Bitget ETHUSDT+0.0100%8h2,736+0.269%$2.07B$2.74B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,734.4+0.210%$15.0M$39.7M50xas long as short
Variational Omni ETH+0.0100%8h2,726.6−0.077%$133.1M$325.4M—as long as short
edgeX ETHUSDC+0.0100%4h2,729.6+0.036%$183.6M$671.6M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,730.3+0.059%$158.8M$86.8M50xas long as short
StandX ETH-USD+0.0100%1h2,730.8+0.078%$21.1M$68.7M40xas long as short
Vest ETH-PERP+0.0100%1h2,736.2+0.278%—$843K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,737.6+0.327%$11.2M$9.1M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,734.5+0.214%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,735.9+0.265%$41.3M$29.8M15xas long as short
SunX ETH-USDT+0.0100%8h2,733.4+0.175%$957K$11.4M100xas long as short
Extended ETH-USD+0.0104%1h2,734.7+0.222%$30.3M$72.7M50xas long as short
Deribit ETH-PERPETUAL+0.0108%1h2,735.8+0.261%$260.2M$196.8M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,735.8+0.261%$51.3M$4.27B50xas long as short
Aftermath Perps ETHUSD+0.0120%1h2,731.6+0.108%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0146%8h2,733.5+0.177%$6.5M$678.7M4.9xas long as short
Orderly PERP_ETH_USDC+0.0193%8h2,736.5+0.286%$32.2M$11.6M100xas long as short
Reya ETHRUSDPERP+0.0221%1h2,735.2+0.240%$7.3M$1.2M25xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,735.1+0.237%$83.5M$315.0M100xas long as short
Hibachi ETH/USDT-P+0.0256%1h2,734.9+0.230%$253K$1.4M20xas long as short
BloFin ETH-USDT+0.0350%8h2,734+0.196%$283.4M$175.7M150xas long as short