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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 00:00 UTC+0.0066%/8h= +7.2% APRnext payment +$0.08 per $10,000 · paid last 24h +0.024%
Price spread now: Bluefin against Bullet+0.026%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on BulletShort on Bluefin
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bluefin is 0.026% dearer against Bullet than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBullet ETH-USD2,775.50.0034pay 0.0004% / 1h2m 58s$182K$1.7M20x
ShortBluefin ETH-PERP2,776.20.0100get 0.0013% / 1h2m 58s$21K$24K25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bluefin against Bullet. 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
$13.82
Price spread: +0.026% → 0.000%
$2.59
Slippage, 4 orders
no order book: not counted
Fee Bullet: 4 bp × 2 orders
−$8
Fee Bluefin: 3.5 bp × 2 orders
−$7
Net
$1.41
Costs to cover
0.150%
Break-even
6.3 days
Slippage unknown: Bullet: live order book, 1 min ago; Bluefin: 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 Bullet live order book, 1 min ago0.36 bp6.5 bp −$78.9 bp −$89doesn't fitdoesn't fit
Sell Bluefin no order-book sample—————
Bluefin: 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−0.0223%43m2,775.8+0.010%$286K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0206%1h2,775.6+0.004%$5.6M$11.9M25xas long as short
Injective ETH/USDC PERP−0.0088%1h2,762.1−0.483%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,776+0.018%$5K$2K50xas long as short
ApeX Omni ETHUSDT−0.0026%1h2,769.6−0.213%$8.7M$32.9M100xas long as short
01 Exchange ETHUSD−0.0008%1h2,776.5+0.036%$168K$1.2M50xas long as short
dYdX ETH-USD0.0000%1h2,775.8+0.012%$12.7M$45.9M50xas long as short
Phoenix ETH+0.0003%1h2,774.3−0.043%$877K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,776.4+0.032%$22.4M—200xas long as short
OKX ETH-USDT-SWAP+0.0021%8h2,774.9−0.020%$1.71B$11.91B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phemex ETHUSDT+0.0023%8h2,774.4−0.038%$270.3M$68.7M150xas long as short
GMX ETH/USD [ETH-USDC]L +0.0026% / S +0.0009%1h2,776.1+0.022%$12.9M—200xas long as short
SoDEX ETH-USD+0.0030%1h2,774.5−0.036%$55.2M$228.7M40xas long as short
Aster ETHUSDT+0.0032%8h2,774.6−0.034%$256.1M$1.00B200xas long as short
Aftermath Perps ETHUSD+0.0032%1h2,772.8−0.097%$29K$22K20xas long as short
Bullet ETH-USDlong+0.0034%1h2,775.5long leg$182K$1.7M20x
MEXC ETH_USDT+0.0054%8h2,774.3−0.044%$1.62B$2.67B500xas long as short
Binance ETHUSDT+0.0054%8h2,774.3−0.042%$6.47B$17.29B150xas long as short
Aevo ETH-PERP+0.0056%1h2,772.3−0.116%$5.0M$636K20xas long as short
Deribit ETH-PERPETUAL+0.0060%1h2,776.5+0.034%$259.1M$222.1M50xas long as short
Bitget ETHUSDT+0.0066%8h2,774.3−0.043%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0067%8h2,774.8−0.026%$3.29B$9.71B200xas long as short
KuCoin ETHUSDTM+0.0080%8h2,774.6−0.031%$422.8M$738.7M100xas long as short
Bybit ETHUSDT+0.0087%8h2,775−0.019%$2.51B$4.62B150xas long as short
BingX ETH-USDT+0.0088%8h2,774.8−0.025%—$1.24B—as long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,776+0.019%$60.7M$4.60B50xas long as short
Nado ETH-PERP+0.0091%1h2,776+0.017%$14.3M$118.2M50xas long as short
HTX ETH-USDT+0.0093%8h2,775.1−0.014%$1.08B$1.32B200xas long as short
Lighter ETH+0.0096%1h2,774.8−0.025%$115.2M$502.0M50xas long as short
Lighter RH ETH+0.0096%1h2,776.5+0.036%$25.3M$122.2M50xas long as short
Vest ETH-PERP+0.0097%1h2,776.2+0.024%—$1.1M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,775.6+0.005%$15.9M$10.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,775.1−0.014%$483K$2.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,776.9+0.050%$3.17B$2.36B25xas long as short
Pacifica ETH+0.0100%1h2,776+0.018%$31.3M$316.9M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,775.3−0.007%$2.8M$17.3M25xas long as short
Arcus ETH-USD+0.0100%1h2,776.4+0.034%$2.7M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,769.4−0.220%$169.4M$262.8M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,774.5−0.038%$15.1M$44.2M50xas long as short
Variational Omni ETH+0.0100%8h2,768.5−0.251%$148.3M$337.3M—as long as short
edgeX ETHUSDC+0.0100%4h2,769.8−0.206%$181.8M$784.6M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,770.2−0.189%$161.1M$89.4M50xas long as short
StandX ETH-USD+0.0100%1h2,774.3−0.043%$21.5M$58.7M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,776.5+0.036%$10.6M$8.0M50xas long as short
Bluefin ETH-PERPshort+0.0100%1h2,776.2+0.026%$21K$24K25x
SunX ETH-USDT+0.0100%8h2,775−0.019%$974K$13.9M100xas long as short
Kalshi KXETHPERP+0.0100%8h2,776.4+0.032%$8.3M$688.6M4.9xas long as short
Derive ETH-PERP+0.0100%1h2,777.4+0.069%$42.8M$29.4M15xas long as short
Extended ETH-USD+0.0104%1h2,773.8−0.061%$32.5M$78.4M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,776.6+0.041%—$43.8M500xas long as short
Kraken Futures PF_ETHUSD+0.0123%1h2,775.7+0.008%$90.8M$338.3M100xas long as short
Orderly PERP_ETH_USDC+0.0144%8h2,777.9+0.085%$32.6M$12.1M100xas long as short
BloFin ETH-USDT+0.0174%8h2,774.5−0.035%$287.2M$193.8M150xas long as short
Hibachi ETH/USDT-P+0.0200%1h2,776.1+0.021%$253K$1.6M20xas long as short
Reya ETHRUSDPERP+0.0206%1h2,775.6+0.002%$7.4M$1.2M25xas long as short