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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 22:00 UTC+0.0023%/8h= +2.5% APRnext payment +$0.03 per $10,000 · paid last 24h +0.007%
Price spread now: Nado against Bullet+0.024%7-day average +0.003% · 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−$18as in the Price arb table
costs, in and out, $10k−$200.198% of the position
Long on BulletShort on Nado
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.043%+$4 on $10k
Price spread, last 7 days−0.031%−$3 · spread now +0.024%, 7d avg +0.003%
Together, before fees+0.012%+ Points / potential airdropNado: Active · farm board+$1 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Nado is 0.020% dearer against Bullet than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.003%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBullet ETH-USD2,7700.0077pay 0.0010% / 1h46m 01s$187K$1.8M20x
ShortNado ETH-PERP2,770.70.0100get 0.0012% / 1h46m 01s$16.1M$114.9M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Nado 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
$4.81
Price spread: +0.024% → +0.003%
$2.04
Slippage, 4 orders
−$4.82
Fee Bullet: 4 bp × 2 orders
−$8
Fee Nado: 3.5 bp × 2 orders
−$7
Net
−$12.96
Costs to cover
0.198%
Break-even
25.9 days
Slippage from Bullet: live order book, 3 min ago; Nado: live order book, 3 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, 3 min ago0.36 bp6.0 bp −$68.9 bp −$89doesn't fitdoesn't fit
Sell Nado live order book, 3 min ago0.18 bp3.7 bp −$43.7 bp −$374.9 bp −$48512.8 bp −$6,384

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%43m2,770.6+0.023%$289K$6.9M8.3xas long as short
ApeX Omni ETHUSDT−0.0178%1h2,769.3−0.026%$10.5M$31.0M100xas long as short
Injective ETH/USDC PERP−0.0107%1h2,770.7+0.025%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,772.8+0.101%$5K$2K50xas long as short
01 Exchange ETHUSD−0.0072%1h2,771.1+0.039%$172K$1.2M50xas long as short
Phoenix ETH−0.0023%1h2,771.8+0.065%$796K$3.7M25xas long as short
RISEx ETH/USDC−0.0011%1h2,771.1+0.039%$5.8M$11.9M25xas long as short
dYdX ETH-USD0.0000%1h2,772.5+0.090%$12.9M$45.2M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,771.1+0.038%$22.4M—200xas long as short
Phemex ETHUSDT+0.0019%8h2,769.8−0.007%$266.5M$65.9M150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0022%8h2,769.5−0.017%$1.70B$11.84B100xas long as short
Aftermath Perps ETHUSD+0.0025%1h2,772.5+0.089%$29K$21K20xas long as short
GMX ETH/USD [ETH-USDC]L +0.0027% / S +0.0009%1h2,771+0.036%$13.1M—200xas long as short
Aevo ETH-PERP+0.0040%1h2,768−0.073%$5.0M$636K20xas long as short
MEXC ETH_USDT+0.0043%8h2,769.8−0.007%$1.59B$2.63B500xas long as short
Aster ETHUSDT+0.0043%8h2,769.7−0.010%$255.9M$995.6M200xas long as short
Binance ETHUSDT+0.0044%8h2,770−0.001%$6.44B$17.18B150xas long as short
Gate ETH_USDT+0.0058%8h2,769.9−0.005%$3.29B$9.56B200xas long as short
Bitget ETHUSDT+0.0074%8h2,770−0.002%$2.09B$3.13B150xas long as short
Bullet ETH-USDlong+0.0077%1h2,770long leg$187K$1.8M20x
Variational Omni ETH+0.0091%8h2,769.8−0.006%$141.1M$319.9M—as long as short
SoDEX ETH-USD+0.0092%1h2,769.7−0.011%$55.2M$228.6M40xas long as short
Lighter ETH+0.0096%1h2,770.4+0.015%$115.1M$508.9M50xas long as short
Lighter RH ETH+0.0096%1h2,771.8+0.065%$25.3M$121.8M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,771.4+0.051%—$41.9M500xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,770.8+0.028%$15.9M$10.9M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,771.4+0.050%$480K$2.7M50xas long as short
Nado ETH-PERPshort+0.0100%1h2,770.7+0.024%$16.1M$114.9M50x
Hyperliquid ETH+0.0100%1h2,772.5+0.090%$3.20B$2.38B25xas long as short
Pacifica ETH+0.0100%1h2,771.4+0.049%$31.3M$283.2M50xas long as short
Bybit ETHUSDT+0.0100%8h2,769.7−0.011%$2.51B$4.63B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,770.2+0.007%$2.9M$16.5M25xas long as short
Arcus ETH-USD+0.0100%1h2,773.2+0.114%$2.8M$17.5M25xas long as short
Bulk ETH-USD+0.0100%1h2,770.8+0.030%$164.5M$255.4M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,770.3+0.010%$424.9M$743.2M100xas long as short
BingX ETH-USDC+0.0100%8h2,769.5−0.019%—$17.3M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,770.1+0.003%$15.4M$42.4M50xas long as short
edgeX ETHUSDC+0.0100%4h2,769.4−0.023%$178.2M$790.5M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,769.5−0.017%$161.1M$97.4M50xas long as short
StandX ETH-USD+0.0100%1h2,771.2+0.043%$21.4M$57.5M40xas long as short
Vest ETH-PERP+0.0100%1h2,771.5+0.053%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,771.6+0.058%$10.8M$7.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,771.4+0.051%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,772.3+0.081%$42.8M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,769.4−0.021%$970K$14.3M100xas long as short
HTX ETH-USDT+0.0100%8h2,769.5−0.019%$1.08B$1.32B200xas long as short
Extended ETH-USD+0.0104%1h2,769.4−0.021%$31.4M$76.1M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,771.6+0.056%$60.0M$4.64B50xas long as short
Kalshi KXETHPERP+0.0120%8h2,772+0.072%$8.6M$670.6M4.9xas long as short
Orderly PERP_ETH_USDC+0.0129%8h2,773.1+0.113%$32.5M$11.8M100xas long as short
Deribit ETH-PERPETUAL+0.0143%1h2,771.7+0.063%$259.0M$223.0M50xas long as short
BloFin ETH-USDT+0.0164%8h2,771.7+0.060%$287.0M$195.7M150xas long as short
Reya ETHRUSDPERP+0.0190%1h2,769.4−0.023%$7.5M$998K25xas long as short
Kraken Futures PF_ETHUSD+0.0240%1h2,771.2+0.042%$88.4M$329.8M100xas long as short
Hibachi ETH/USDT-P+0.0392%1h2,773.5+0.127%$273K$1.5M20xas long as short