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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 04:00 UTC+0.0090%/8h= +9.8% APRnext payment +$0.11 per $10,000 · paid last 24h +0.009%
Price spread now: Extended against Bullet−0.049%7-day average −0.061% · 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−$14as in the Price arb table
costs, in and out, $10k−$150.154% of the position
Long on BulletShort on Extended
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.052%+$5 on $10k
Price spread, last 7 days+0.017%+$2 · spread now −0.049%, 7d avg −0.061%
Together, before fees+0.069%+ Points / potential airdropExtended: Active · farm board+$7 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.061%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBullet ETH-USD2,734.20.0014pay 0.0002% / 1h4m 25s$179K$1.7M20x
ShortExtended ETH-USD2,732.90.0104get 0.0013% / 1h4m 25s$30.4M$72.9M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Extended 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
$18.81
Price spread: −0.049% → −0.061%
$1.18
Slippage, 4 orders
−$2.36
Fee Bullet: 4 bp × 2 orders
−$8
Fee Extended: 2.5 bp × 2 orders
−$5
Net
$4.64
Costs to cover
0.154%
Break-even
5.3 days
Slippage from Bullet: live order book, 5 min ago; Extended: 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 Bullet live order book, 5 min ago0.37 bp4.9 bp −$59.6 bp −$96doesn't fitdoesn't fit
Sell Extended live order book, 5 min ago0.18 bp2.7 bp −$32.7 bp −$274.6 bp −$46213.1 bp −$6,539

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%43m2,733−0.045%$297K$5.6M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,734.2−0.001%$117K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,733.8−0.015%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,733.6−0.023%$11.9M—200xas long as short
01 Exchange ETHUSD0.0000%1h2,734.2−0.001%$187K$821K50xas long as short
Phoenix ETH0.0000%1h2,733.9−0.012%$826K$2.9M25xas long as short
dYdX ETH-USD0.0000%1h2,733−0.045%$10.7M$41.9M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,734.7+0.018%$28.1M—200xas long as short
Bullet ETH-USDlong+0.0014%1h2,734.2long leg$179K$1.7M20x
HTX ETH-USDT+0.0021%8h2,732.3−0.070%$1.06B$1.20B200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0044%8h2,733−0.044%—$18.5M—as long as short
Bybit ETHUSDT+0.0054%8h2,733.6−0.021%$2.38B$4.35B150xas long as short
ApeX Omni ETHUSDT+0.0063%1h2,732.3−0.072%$8.7M$31.3M100xas long as short
KuCoin ETHUSDTM+0.0066%8h2,733.8−0.017%$380.3M$573.5M100xas long as short
OKX ETH-USDT-SWAP+0.0075%8h2,734−0.008%$1.67B$10.71B100xas long as short
Phemex ETHUSDT+0.0081%8h2,733.2−0.037%$265.6M$65.2M150xas long as short
Aster ETHUSDT+0.0085%8h2,733.6−0.023%$251.0M$841.9M200xas long as short
MEXC ETH_USDT+0.0094%8h2,734.3+0.003%$1.55B$2.57B500xas long as short
Binance ETHUSDT+0.0095%8h2,733.8−0.014%$6.35B$15.87B150xas long as short
Lighter ETH+0.0096%1h2,733.7−0.018%$112.8M$441.9M50xas long as short
Lighter RH ETH+0.0096%1h2,734.9+0.023%$23.5M$106.8M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,733.1−0.039%—$30.9M500xas long as short
Aevo ETH-PERP+0.0096%1h2,730.8−0.124%$4.9M$155K20xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,737.1+0.105%$15.5M$8.0M50xas long as short
RISEx ETH/USDC+0.0099%1h2,734.4+0.007%$5.6M$11.7M25xas long as short
Katana Perps ETH-USD+0.0100%8h2,733.5−0.026%$500K$3.3M50xas long as short
Nado ETH-PERP+0.0100%1h2,733.4−0.029%$13.6M$104.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,736.6+0.087%$3.11B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,734.4+0.006%$32.0M$335.0M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,732.7−0.056%$2.7M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,734.4+0.006%$1.6M$16.0M25xas long as short
Bulk ETH-USD+0.0100%1h2,733.7−0.020%$169.4M$313.3M25xas long as short
Gate ETH_USDT+0.0100%8h2,733.8−0.016%$3.34B$8.93B200xas long as short
Bitget ETHUSDT+0.0100%8h2,734.4+0.007%$2.07B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,732.1−0.079%$15.0M$39.6M50xas long as short
Variational Omni ETH+0.0100%8h2,732−0.082%$133.7M$324.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,732.4−0.068%$183.8M$670.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,733.6−0.024%$159.0M$86.4M50xas long as short
StandX ETH-USD+0.0100%1h2,733.5−0.026%$21.1M$68.2M40xas long as short
Vest ETH-PERP+0.0100%1h2,734.8+0.021%—$843K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,736+0.065%$11.2M$9.3M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,733.5−0.026%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,735+0.027%$41.3M$29.8M15xas long as short
SunX ETH-USDT+0.0100%8h2,732.2−0.074%$958K$11.3M100xas long as short
SoDEX ETH-USD+0.0100%1h2,733.2−0.037%$54.4M$187.6M40xas long as short
Extended ETH-USDshort+0.0104%1h2,732.9−0.049%$30.4M$72.9M50x
Coinbase International ETH-PERP-INTX+0.0112%1h2,734.3+0.001%$51.3M$4.27B50xas long as short
Aftermath Perps ETHUSD+0.0117%1h2,734−0.007%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0131%8h2,733.4−0.030%$6.7M$678.6M4.9xas long as short
Deribit ETH-PERPETUAL+0.0149%1h2,734.7+0.016%$259.6M$196.3M50xas long as short
Orderly PERP_ETH_USDC+0.0197%8h2,735.6+0.050%$32.2M$11.7M100xas long as short
Reya ETHRUSDPERP+0.0216%1h2,733.6−0.022%$7.3M$1.2M25xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,733.9−0.012%$83.2M$314.8M100xas long as short
Hibachi ETH/USDT-P+0.0280%1h2,734.2−0.001%$249K$1.4M20xas long as short
BloFin ETH-USDT+0.0378%8h2,733.5−0.027%$283.3M$175.7M150xas long as short