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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 23:00 UTC+0.0008%/8h= +0.9% APRpaid last 24h −0.001%
Price spread now: Bulk against Bybit−0.214%7-day average +0.009% · 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−$41as in the Price arb table
costs, in and out, $10k−$190.189% of the position
Long on BybitShort on Bulk
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.015%+$2 on $10k
Price spread, last 7 days+0.215%+$21 · spread now −0.214%, 7d avg +0.009%
Together, before fees+0.230%+$23 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 0.223% cheaper against Bybit than usual: you would sell low and buy high, −$22 on $10k if it goes back to its 7-day average of +0.009%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit ETHUSDT2,776.80.0092pay 0.0092% / 8h1h 01m$2.52B$4.62B150x
ShortBulk ETH-USD2,770.80.0100get 0.0013% / 1h1m 19s$166.1M$253.0M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bulk against Bybit. 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
$1.72
Price spread: −0.214% → +0.009%
−$22.3
Slippage, 4 orders
−$0.92
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Bulk: 3.5 bp × 2 orders
−$7
Net
−$39.5
Costs to cover
0.189%
Break-even
167.8 days
Slippage from Bybit: live order book, 3 min ago; Bulk: 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 Bybit live order book, 3 min ago0.02 bp5.5 bp −$65.5 bp −$556.5 bp −$6459.0 bp −$4,480
Sell Bulk live order book, 3 min ago0.02 bp3.5 bp −$43.5 bp −$354.6 bp −$4555.4 bp −$2,688

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%43m2,776.6−0.006%$288K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,775.7−0.040%$5.7M$11.9M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,776.6−0.006%$5K$2K50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,771.7−0.183%$119K$22.5M52xas long as short
01 Exchange ETHUSD−0.0040%1h2,776.7−0.003%$169K$1.2M50xas long as short
dYdX ETH-USD0.0000%1h2,777.1+0.010%$12.7M$45.8M50xas long as short
Phoenix ETH0.0000%1h2,775.6−0.042%$885K$3.7M25xas long as short
Aftermath Perps ETHUSD0.0000%1h2,775.9−0.031%$29K$22K20xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,777.5+0.026%$22.4M—200xas long as short
BingX ETH-USDT+0.0014%8h2,776.6−0.008%—$1.21B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Deribit ETH-PERPETUAL+0.0016%1h2,777.7+0.032%$258.7M$222.7M50xas long as short
OKX ETH-USDT-SWAP+0.0018%8h2,776.6−0.005%$1.70B$11.87B100xas long as short
Bullet ETH-USD+0.0022%1h2,776.2−0.021%$182K$1.7M20xas long as short
Phemex ETHUSDT+0.0023%8h2,776.3−0.015%$270.5M$68.9M150xas long as short
GMX ETH/USD [ETH-USDC]L +0.0027% / S +0.0009%1h2,777.2+0.017%$12.9M—200xas long as short
Aster ETHUSDT+0.0033%8h2,776.5−0.012%$254.7M$995.4M200xas long as short
Nado ETH-PERP+0.0056%1h2,776.1−0.025%$14.3M$118.2M50xas long as short
Aevo ETH-PERP+0.0056%1h2,774.2−0.093%$5.0M$636K20xas long as short
ApeX Omni ETHUSDT+0.0058%1h2,777.6+0.028%$8.8M$32.7M100xas long as short
MEXC ETH_USDT+0.0060%8h2,776.1−0.023%$1.60B$2.68B500xas long as short
Binance ETHUSDT+0.0061%8h2,776.5−0.008%$6.44B$17.23B150xas long as short
SoDEX ETH-USD+0.0061%1h2,776.1−0.024%$55.3M$229.0M40xas long as short
Bitget ETHUSDT+0.0065%8h2,776.5−0.010%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0072%8h2,776.6−0.008%$3.30B$9.69B200xas long as short
HTX ETH-USDT+0.0088%8h2,775.8−0.033%$1.08B$1.32B200xas long as short
Bybit ETHUSDTlong+0.0092%8h2,776.8long leg$2.52B$4.62B150x
KuCoin ETHUSDTM+0.0093%8h2,776.2−0.021%$422.3M$739.2M100xas long as short
Lighter ETH+0.0096%1h2,776.8+0.002%$115.2M$503.5M50xas long as short
Lighter RH ETH+0.0096%1h2,778.1+0.046%$25.5M$122.0M50xas long as short
Vest ETH-PERP+0.0096%1h2,776.7−0.001%—$1.1M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,776.1−0.023%$16.0M$10.5M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,776.5−0.010%$477K$2.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,778.9+0.077%$3.19B$2.35B25xas long as short
Pacifica ETH+0.0100%1h2,776.80.000%$31.2M$303.9M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,775.6−0.042%$2.8M$17.1M25xas long as short
Arcus ETH-USD+0.0100%1h2,777.1+0.012%$2.7M$17.2M25xas long as short
Bulk ETH-USDshort+0.0100%1h2,770.8−0.214%$166.1M$253.0M25x
Backpack ETH_USDC_PERP+0.0100%1h2,776.4−0.014%$15.1M$44.1M50xas long as short
Variational Omni ETH+0.0100%8h2,773.7−0.110%$147.3M$337.0M—as long as short
edgeX ETHUSDC+0.0100%4h2,777+0.010%$181.7M$781.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,775.7−0.039%$161.4M$90.8M50xas long as short
StandX ETH-USD+0.0100%1h2,776.3−0.017%$21.4M$58.2M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,777.4+0.023%$10.8M$7.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,777.3+0.019%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,778.9+0.078%$42.8M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,775.3−0.053%$974K$14.0M100xas long as short
Extended ETH-USD+0.0104%1h2,775.2−0.057%$32.6M$77.5M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,777+0.007%—$41.8M500xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,777.5+0.024%$60.0M$4.60B50xas long as short
Kalshi KXETHPERP+0.0127%8h2,777.1+0.012%$8.4M$681.4M4.9xas long as short
Orderly PERP_ETH_USDC+0.0135%8h2,779.4+0.094%$32.6M$12.0M100xas long as short
Kraken Futures PF_ETHUSD+0.0169%1h2,777.3+0.020%$86.4M$332.5M100xas long as short
BloFin ETH-USDT+0.0180%8h2,776.5−0.008%$284.8M$194.9M150xas long as short
Reya ETHRUSDPERP+0.0196%1h2,776−0.029%$7.4M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0288%1h2,777.7+0.034%$270K$1.5M20xas long as short