Settings8H · net · $10k
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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+0.0062%/8h= +6.8% APRnext payment +$0.08 per $10,000 · paid last 24h +0.016%
Price spread now: Derive against Bullet+0.084%7-day average +0.062% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on BulletShort on Derive
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.076%+$8 on $10k
Price spread, last 3 days (all we have)−0.051%−$5 · spread now +0.084%, 7d avg +0.062%
Together, before fees+0.024%+$2 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Derive is 0.022% dearer against Bullet than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.062%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBullet ETH-USD2,768.90.0038pay 0.0005% / 1h10m 35s$181K$1.7M20x
ShortDerive ETH-PERP2,771.20.0100get 0.0013% / 1h10m 35s$42.7M$29.4M15x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Derive 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
$13.08
Price spread: +0.084% → +0.062%
$2.17
Slippage, 4 orders
no order book: not counted
Fee Bullet: 4 bp × 2 orders
−$8
Fee Derive: 3 bp × 2 orders
−$6
Net
$1.24
Costs to cover
0.140%
Break-even
6.3 days
Slippage unknown: Bullet: live order book, 4 min ago; Derive: 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, 4 min ago0.18 bp5.4 bp −$59.4 bp −$94doesn't fitdoesn't fit
Sell Derive no order-book sample—————
Derive: 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%43m2,770+0.039%$286K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0206%1h2,772.2+0.117%$5.6M$11.9M25xas long as short
Injective ETH/USDC PERP−0.0088%1h2,762.1−0.246%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,769.5+0.022%$5K$2K50xas long as short
ApeX Omni ETHUSDT−0.0023%1h2,770.5+0.057%$8.7M$32.9M100xas long as short
01 Exchange ETHUSD−0.0008%1h2,772.2+0.119%$168K$1.2M50xas long as short
dYdX ETH-USD0.0000%1h2,770.9+0.074%$12.7M$45.9M50xas long as short
Phoenix ETH+0.0003%1h2,771.8+0.105%$876K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,769.5+0.023%$22.4M—200xas long as short
OKX ETH-USDT-SWAP+0.0022%8h2,771.4+0.091%$1.71B$11.88B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX ETH/USD [ETH-USDC]L +0.0026% / S +0.0009%1h2,769.6+0.024%$12.8M—200xas long as short
Phemex ETHUSDT+0.0029%8h2,768.5−0.014%$269.9M$68.9M150xas long as short
Aftermath Perps ETHUSD+0.0030%1h2,771.6+0.098%$29K$22K20xas long as short
Aster ETHUSDT+0.0031%8h2,771.1+0.078%$255.8M$1.00B200xas long as short
SoDEX ETH-USD+0.0031%1h2,768.4−0.018%$55.1M$228.9M40xas long as short
Bullet ETH-USDlong+0.0038%1h2,768.9long leg$181K$1.7M20x
Deribit ETH-PERPETUAL+0.0053%1h2,770.2+0.046%$259.0M$222.1M50xas long as short
MEXC ETH_USDT+0.0056%8h2,771.6+0.096%$1.62B$2.66B500xas long as short
Aevo ETH-PERP+0.0056%1h2,766.9−0.073%$5.0M$636K20xas long as short
Binance ETHUSDT+0.0056%8h2,771.6+0.096%$6.45B$17.29B150xas long as short
Bitget ETHUSDT+0.0065%8h2,772.3+0.121%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0068%8h2,772+0.112%$3.29B$9.69B200xas long as short
KuCoin ETHUSDTM+0.0081%8h2,771.4+0.091%$420.8M$738.5M100xas long as short
Bybit ETHUSDT+0.0088%8h2,771.5+0.094%$2.51B$4.62B150xas long as short
BingX ETH-USDT+0.0088%8h2,772+0.113%—$1.24B—as long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,769.9+0.034%$60.1M$4.59B50xas long as short
HTX ETH-USDT+0.0094%8h2,768.6−0.010%$1.08B$1.32B200xas long as short
Lighter ETH+0.0096%1h2,771.9+0.107%$115.1M$500.6M50xas long as short
Lighter RH ETH+0.0096%1h2,773.6+0.168%$25.3M$122.0M50xas long as short
Vest ETH-PERP+0.0096%1h2,769.7+0.027%—$1.1M50xas long as short
Nado ETH-PERP+0.0099%1h2,768.9−0.001%$14.3M$118.2M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,771.2+0.082%$15.9M$10.1M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,771.4+0.090%$475K$2.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,772.4+0.126%$3.17B$2.36B25xas long as short
Pacifica ETH+0.0100%1h2,771.8+0.105%$31.2M$315.2M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,769.6+0.025%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,772.8+0.141%$2.7M$17.3M25xas long as short
Bulk ETH-USD+0.0100%1h2,773+0.147%$170.1M$265.7M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,768.7−0.006%$15.1M$44.2M50xas long as short
Variational Omni ETH+0.0100%8h2,768.4−0.017%$147.1M$335.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,770+0.039%$181.8M$783.7M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,770.4+0.054%$161.1M$89.8M50xas long as short
StandX ETH-USD+0.0100%1h2,771.4+0.090%$21.4M$58.5M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,769.1+0.007%$10.6M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,769.9+0.035%$21K$24K25xas long as short
SunX ETH-USDT+0.0100%8h2,768.1−0.030%$971K$13.9M100xas long as short
Derive ETH-PERPshort+0.0100%1h2,771.2+0.084%$42.7M$29.4M15x
Extended ETH-USD+0.0104%1h2,771.5+0.093%$32.5M$78.3M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,771.1+0.080%—$43.7M500xas long as short
Kalshi KXETHPERP+0.0107%8h2,770.1+0.043%$8.2M$687.5M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0123%1h2,770+0.040%$90.3M$338.3M100xas long as short
Orderly PERP_ETH_USDC+0.0143%8h2,771.3+0.087%$32.6M$12.2M100xas long as short
BloFin ETH-USDT+0.0176%8h2,768.4−0.017%$286.2M$194.2M150xas long as short
Reya ETHRUSDPERP+0.0204%1h2,768.7−0.008%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0208%1h2,771.6+0.098%$252K$1.6M20xas long as short