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Funding arb · Price arb /

ETH

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Alert: spread
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Funding you earn now, next payment 22:00 UTC+0.0023%/8h= +2.5% APRpaid last 24h 0.000%
Price spread now: KuCoin against Bullet+0.009%46s7-day average −0.011% · 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—prices read too far apart to compare
costs, in and out, $10k−$230.233% of the position
Long on BulletShort on KuCoin
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.011%−$1 on $10k
Price spread, last 7 days−0.015%−$1 · spread now +0.009%, 7d avg −0.011%
Together, before fees−0.026%−$3 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.011%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBullet ETH-USD2,768.30.0077pay 0.0010% / 1h29m 43s$185K$1.8M20x
ShortKuCoin ETHUSDTM2,768.60.0100get 0.0100% / 8h2h 29m$424.7M$740.7M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

KuCoin 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
$4.78
Price spread: +0.009% → −0.011%
$1.99
Slippage, 4 orders
−$3.32
Fee Bullet: 4 bp × 2 orders
−$8
Fee KuCoin: 6 bp × 2 orders
−$12
Net
−$16.55
Costs to cover
0.233%
Break-even
31.2 days
Slippage from Bullet: live order book, 4 min ago; KuCoin: live order book, 4 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, 4 min ago0.18 bp4.6 bp −$57.6 bp −$76doesn't fitdoesn't fit
Sell KuCoin live order book, 4 min ago0.02 bp6.0 bp −$67.2 bp −$7210.2 bp −$1,021doesn't fit

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%43m2,769.5+0.044%$289K$6.8M8.3xas long as short
Injective ETH/USDC PERP−0.0107%1h2,766.1−0.080%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,766.7−0.058%$5K$2K50xas long as short
01 Exchange ETHUSD−0.0056%1h2,769.4+0.039%$172K$1.2M50xas long as short
Phoenix ETH−0.0023%1h2,767−0.047%$794K$3.7M25xas long as short
ApeX Omni ETHUSDT−0.0011%1h2,766.3−0.073%$8.8M$32.5M100xas long as short
RISEx ETH/USDC−0.0011%1h2,769.4+0.040%$5.8M$11.8M25xas long as short
dYdX ETH-USD0.0000%1h2,769.3+0.037%$12.7M$45.5M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,769+0.025%$22.4M—200xas long as short
Aftermath Perps ETHUSD+0.0017%1h2,767.8−0.017%$29K$21K20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0020%8h2,768.1−0.007%$1.71B$11.86B100xas long as short
Phemex ETHUSDT+0.0021%8h2,767.9−0.016%$266.5M$66.1M150xas long as short
GMX ETH/USD [ETH-USDC]L +0.0028% / S +0.0009%1h2,769+0.025%$13.1M—200xas long as short
Aster ETHUSDT+0.0036%8h2,768.4+0.003%$255.8M$995.9M200xas long as short
MEXC ETH_USDT+0.0045%8h2,768.5+0.006%$1.61B$2.66B500xas long as short
Binance ETHUSDT+0.0046%8h2,768.4+0.004%$6.42B$17.21B150xas long as short
Aevo ETH-PERP+0.0048%1h2,766.1−0.081%$5.0M$636K20xas long as short
Gate ETH_USDT+0.0066%8h2,768.6+0.012%$3.29B$9.62B200xas long as short
Bitget ETHUSDT+0.0072%8h2,768.30.000%$2.09B$3.12B150xas long as short
Bullet ETH-USDlong+0.0077%1h2,768.3long leg$185K$1.8M20x
Variational Omni ETH+0.0091%8h2,768.2−0.003%$140.3M$320.2M—as long as short
Lighter ETH+0.0096%1h2,769+0.024%$115.4M$512.0M50xas long as short
Lighter RH ETH+0.0096%1h2,770.5+0.080%$25.4M$122.4M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,770+0.060%—$41.7M500xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,768.1−0.008%$15.9M$10.9M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,769.2+0.032%$479K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,769.1+0.029%$14.7M$116.9M50xas long as short
Hyperliquid ETH+0.0100%1h2,771+0.097%$3.19B$2.39B25xas long as short
Pacifica ETH+0.0100%1h2,769.1+0.029%$31.2M$287.3M50xas long as short
Bybit ETHUSDT+0.0100%8h2,768.4+0.003%$2.51B$4.64B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,768−0.011%$2.9M$16.5M25xas long as short
Arcus ETH-USD+0.0100%1h2,770.6+0.084%$2.7M$17.5M25xas long as short
Bulk ETH-USD+0.0100%1h2,765.9−0.086%$164.9M$256.3M25xas long as short
KuCoin ETHUSDTMshort+0.0100%8h2,768.6+0.009%$424.7M$740.7M100x
BingX ETH-USDT+0.0100%8h2,768.4+0.004%—$1.18B—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,768.7+0.012%$15.3M$42.4M50xas long as short
edgeX ETHUSDC+0.0100%4h2,766.1−0.081%$177.8M$792.6M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,765.8−0.092%$160.8M$97.1M50xas long as short
StandX ETH-USD+0.0100%1h2,768.6+0.011%$21.4M$57.7M40xas long as short
Vest ETH-PERP+0.0100%1h2,769.7+0.049%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,770.5+0.079%$10.8M$7.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,769.3+0.034%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,770.5+0.077%$42.6M$29.2M15xas long as short
SunX ETH-USDT+0.0100%8h2,768.2−0.004%$971K$14.2M100xas long as short
SoDEX ETH-USD+0.0100%1h2,767.9−0.015%$55.1M$228.6M40xas long as short
HTX ETH-USDT+0.0100%8h2,768.2−0.005%$1.08B$1.32B200xas long as short
Extended ETH-USD+0.0104%1h2,768.1−0.009%$31.4M$76.1M50xas long as short
Deribit ETH-PERPETUAL+0.0104%1h2,769.8+0.052%$258.4M$224.6M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,769.8+0.053%$60.1M$4.62B50xas long as short
Kalshi KXETHPERP+0.0117%8h2,770+0.061%$8.7M$672.5M4.9xas long as short
Orderly PERP_ETH_USDC+0.0131%8h2,770.9+0.092%$32.5M$12.0M100xas long as short
BloFin ETH-USDT+0.0165%8h2,768.8+0.017%$285.6M$194.9M150xas long as short
Reya ETHRUSDPERP+0.0183%1h2,767.9−0.016%$7.5M$992K25xas long as short
Kraken Futures PF_ETHUSD+0.0241%1h2,769+0.024%$87.1M$330.2M100xas long as short
Hibachi ETH/USDT-P+0.0424%1h2,770.9+0.094%$288K$1.5M20xas long as short