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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 03:00 UTC+0.0079%/8h= +8.6% APRpaid last 24h −0.010%
Price spread now: Kalshi against Bullet+0.077%7-day average −0.020% · 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−$13as in the Price arb table
costs, in and out, $10k−$220.224% of the position
Long on BulletShort on Kalshi
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.006%−$1 on $10k
Price spread, last 7 days−0.049%−$5 · spread now +0.077%, 7d avg −0.020%
Together, before fees−0.055%−$5 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 Kalshi is 0.097% dearer against Bullet than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.020%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBullet ETH-USD2,738.40.0077pay 0.0010% / 1h38m 42s$181K$1.7M20x
ShortKalshi KXETHPERP2,740.50.0156get 0.0156% / 8h1h 38m$7.7M$668.6M4.9x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kalshi 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
$16.58
Price spread: +0.077% → −0.020%
$9.7
Slippage, 4 orders
−$4.38
Fee Bullet: 4 bp × 2 orders
−$8
Fee Kalshi: 5 bp × 2 orders
−$10
Net
$3.9
Costs to cover
0.224%
Break-even
5.4 days
Slippage from Bullet: live order book, just now; Kalshi: 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, just now0.18 bp5.5 bp −$58.9 bp −$89doesn't fitdoesn't fit
Sell Kalshi live order book, 5 min ago0.55 bp6.1 bp −$67.6 bp −$7612.1 bp −$1,20719.2 bp −$9,607

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−0.0112%43m2,740.3+0.069%$304K$5.6M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,741.3+0.106%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,743.1+0.172%$118K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,738.7+0.010%$12.0M—200xas long as short
dYdX ETH-USD0.0000%1h2,738.9+0.018%$10.8M$41.8M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,738.8+0.016%$22.1M—200xas long as short
Phoenix ETH+0.0017%1h2,744.7+0.230%$846K$2.9M25xas long as short
01 Exchange ETHUSD+0.0040%1h2,739.7+0.047%$182K$916K50xas long as short
BingX ETH-USDT+0.0049%8h2,738.9+0.017%—$1.15B—as long as short
KuCoin ETHUSDTM+0.0063%8h2,738.4−0.001%$383.0M$597.9M100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0063%8h2,738.7+0.011%$1.70B$10.56B100xas long as short
RISEx ETH/USDC+0.0077%1h2,739.7+0.046%$5.6M$11.2M25xas long as short
Bullet ETH-USDlong+0.0077%1h2,738.4long leg$181K$1.7M20x
Aster ETHUSDT+0.0080%8h2,738.9+0.017%$252.0M$841.2M200xas long as short
Aevo ETH-PERP+0.0088%1h2,735.6−0.102%$4.9M$155K20xas long as short
MEXC ETH_USDT+0.0089%8h2,738.9+0.018%$1.56B$2.53B500xas long as short
Binance ETHUSDT+0.0090%8h2,738.8+0.016%$6.37B$15.72B150xas long as short
HTX ETH-USDT+0.0095%8h2,738.1−0.012%$1.06B$1.18B200xas long as short
Lighter ETH+0.0096%1h2,739.4+0.036%$112.6M$432.7M50xas long as short
Lighter RH ETH+0.0096%1h2,740.5+0.078%$24.6M$103.7M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,741.2+0.101%—$30.8M500xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,739.3+0.032%$58.7M$4.26B50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,742.8+0.160%$16.0M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,739.2+0.029%$468K$3.0M50xas long as short
Nado ETH-PERP+0.0100%1h2,739.2+0.029%$13.9M$106.2M50xas long as short
Hyperliquid ETH+0.0100%1h2,740.8+0.088%$3.11B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,739.3+0.033%$31.6M$335.1M50xas long as short
Bybit ETHUSDT+0.0100%8h2,738.8+0.014%$2.45B$4.18B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,738.3−0.004%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,739.5+0.042%$2.7M$16.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,743.5+0.187%$165.1M$304.9M25xas long as short
Gate ETH_USDT+0.0100%8h2,738.8+0.014%$3.39B$8.71B200xas long as short
Bitget ETHUSDT+0.0100%8h2,739.2+0.028%$2.08B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,738.5+0.002%$14.9M$40.9M50xas long as short
Variational Omni ETH+0.0100%8h2,736.2−0.080%$132.4M$335.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,739.2+0.030%$182.0M$689.8M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,743.5+0.187%$159.5M$82.5M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,742.5+0.148%$8.9M$31.0M100xas long as short
StandX ETH-USD+0.0100%1h2,740.8+0.088%$21.2M$68.9M40xas long as short
Vest ETH-PERP+0.0100%1h2,740.6+0.081%—$819K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,740.2+0.066%$11.0M$8.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,739.1+0.025%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,740.2+0.065%$41.5M$29.5M15xas long as short
SunX ETH-USDT+0.0100%8h2,738.3−0.003%$960K$11.5M100xas long as short
SoDEX ETH-USD+0.0100%1h2,738.2−0.007%$54.5M$187.5M40xas long as short
Phemex ETHUSDT+0.0100%8h2,738.2−0.006%$266.3M$65.1M150xas long as short
Extended ETH-USD+0.0104%1h2,737.8−0.020%$30.6M$72.4M50xas long as short
Deribit ETH-PERPETUAL+0.0126%1h2,739.7+0.046%$258.7M$196.1M50xas long as short
Aftermath Perps ETHUSD+0.0136%1h2,742.2+0.138%$30K$20K20xas long as short
Kalshi KXETHPERPshort+0.0156%8h2,740.5+0.077%$7.7M$668.6M4.9x
Orderly PERP_ETH_USDC+0.0189%8h2,740.6+0.080%$32.2M$11.4M100xas long as short
BloFin ETH-USDT+0.0210%8h2,738.40.000%$284.3M$177.3M150xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,739+0.023%$87.0M$310.4M100xas long as short
Reya ETHRUSDPERP+0.0226%1h2,739+0.021%$7.3M$1.1M25xas long as short
Hibachi ETH/USDT-P+0.0240%1h2,742+0.130%$250K$1.4M20xas long as short