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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 00:00 UTC−0.0006%/8h= −0.7% APRpaid last 24h −0.005%
Price spread now: Phemex against Bullet+0.014%7-day average +0.002% · 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−$22as in the Price arb table
costs, in and out, $10k−$240.236% of the position
Long on BulletShort on Phemex
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.010%+$1 on $10k
Price spread, last 3 days (all we have)−0.043%−$4 · spread now +0.014%, 7d avg +0.002%
Together, before fees−0.033%−$3 on $10k · with fees, hour by hour
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBullet ETH-USD2,769.80.0036pay 0.0005% / 1h6m 53s$181K$1.7M20x
ShortPhemex ETHUSDT2,770.20.0030get 0.0030% / 8h6m 53s$270.0M$68.8M150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex 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
−$1.34
Price spread: +0.014% → +0.002%
$1.15
Slippage, 4 orders
−$3.56
Fee Bullet: 4 bp × 2 orders
−$8
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$23.75
Costs to cover
0.236%
Break-even
never at this rate
Slippage from Bullet: live order book, 2 min ago; Phemex: live order book, 2 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, 2 min ago0.36 bp6.5 bp −$69.2 bp −$92doesn't fitdoesn't fit
Sell Phemex live order book, 2 min ago0.02 bp6.0 bp −$66.6 bp −$669.7 bp −$96814.6 bp −$7,324

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%43m2,769.3−0.018%$285K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0206%1h2,768.9−0.033%$5.6M$11.9M25xas long as short
Injective ETH/USDC PERP−0.0088%1h2,762.1−0.277%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,771.1+0.048%$5K$2K50xas long as short
ApeX Omni ETHUSDT−0.0016%1h2,769.8+0.001%$8.7M$32.9M100xas long as short
01 Exchange ETHUSD−0.0008%1h2,769.3−0.017%$168K$1.2M50xas long as short
dYdX ETH-USD0.0000%1h2,771.2+0.051%$12.7M$45.9M50xas long as short
Phoenix ETH+0.0003%1h2,771.5+0.062%$876K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,770.9+0.040%$22.4M—200xas long as short
OKX ETH-USDT-SWAP+0.0021%8h2,769.7−0.004%$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%1h2,770.6+0.031%$12.8M—200xas long as short
Aftermath Perps ETHUSD+0.0028%1h2,771.4+0.060%$29K$22K20xas long as short
Phemex ETHUSDTshort+0.0030%8h2,770.2+0.014%$270.0M$68.8M150x
SoDEX ETH-USD+0.0030%1h2,770.2+0.015%$55.2M$228.8M40xas long as short
Aster ETHUSDT+0.0031%8h2,770.6+0.029%$255.7M$1.00B200xas long as short
Bullet ETH-USDlong+0.0036%1h2,769.8long leg$181K$1.7M20x
MEXC ETH_USDT+0.0055%8h2,770.5+0.026%$1.62B$2.66B500xas long as short
Binance ETHUSDT+0.0055%8h2,770.4+0.021%$6.45B$17.30B150xas long as short
Aevo ETH-PERP+0.0056%1h2,769.3−0.018%$5.0M$636K20xas long as short
Bitget ETHUSDT+0.0065%8h2,769.9+0.005%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0067%8h2,770.5+0.027%$3.29B$9.69B200xas long as short
KuCoin ETHUSDTM+0.0081%8h2,770.7+0.034%$421.1M$738.6M100xas long as short
Bybit ETHUSDT+0.0088%8h2,770.2+0.016%$2.50B$4.62B150xas long as short
BingX ETH-USDT+0.0088%8h2,770.3+0.019%—$1.24B—as long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,772.1+0.082%$60.3M$4.59B50xas long as short
HTX ETH-USDT+0.0093%8h2,769.8+0.001%$1.08B$1.32B200xas long as short
Nado ETH-PERP+0.0096%1h2,770.5+0.027%$14.3M$118.2M50xas long as short
Lighter ETH+0.0096%1h2,770.8+0.038%$115.1M$501.8M50xas long as short
Lighter RH ETH+0.0096%1h2,772.3+0.089%$25.3M$122.1M50xas long as short
Deribit ETH-PERPETUAL+0.0096%1h2,772.1+0.083%$259.0M$222.2M50xas long as short
Vest ETH-PERP+0.0096%1h2,770.4+0.021%—$1.1M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,769.9+0.005%$15.9M$10.1M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,769−0.028%$475K$2.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,773+0.117%$3.17B$2.36B25xas long as short
Pacifica ETH+0.0100%1h2,770.8+0.038%$31.2M$316.9M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,769.3−0.017%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,770.2+0.017%$2.7M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,769.4−0.014%$169.4M$262.8M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,770.6+0.029%$15.1M$44.2M50xas long as short
Variational Omni ETH+0.0100%8h2,768.4−0.049%$147.1M$335.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,769.4−0.014%$181.8M$784.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,770.9+0.042%$161.1M$89.5M50xas long as short
StandX ETH-USD+0.0100%1h2,771.1+0.048%$21.4M$58.6M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,769.8+0.001%$10.6M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,770.8+0.038%$21K$24K25xas long as short
SunX ETH-USDT+0.0100%8h2,769.5−0.010%$971K$13.9M100xas long as short
Derive ETH-PERP+0.0100%1h2,772.8+0.108%$42.7M$29.4M15xas long as short
Kalshi KXETHPERP+0.0104%8h2,771.2+0.051%$8.2M$688.2M4.9xas long as short
Extended ETH-USD+0.0104%1h2,769.9+0.006%$32.5M$78.4M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,771.9+0.075%—$43.8M500xas long as short
Kraken Futures PF_ETHUSD+0.0123%1h2,771.9+0.077%$90.4M$338.5M100xas long as short
Orderly PERP_ETH_USDC+0.0143%8h2,773.1+0.119%$32.6M$12.2M100xas long as short
BloFin ETH-USDT+0.0175%8h2,770.1+0.013%$286.5M$194.4M150xas long as short
Reya ETHRUSDPERP+0.0205%1h2,770.2+0.016%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0208%1h2,773+0.116%$252K$1.6M20xas long as short