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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 04:00 UTC−0.0035%/8h= −3.8% APRpaid last 24h −0.006%
Price spread now: Bullet against Bybit+0.023%7-day average +0.014% · 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−$21as in the Price arb table
costs, in and out, $10k−$220.221% of the position
Long on BybitShort on Bullet
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.029%−$3 on $10k
Price spread, last 7 days−0.022%−$2 · spread now +0.023%, 7d avg +0.014%
Together, before fees−0.050%−$5 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit ETHUSDT2,737.90.0100pay 0.0100% / 8h4h 53m$2.43B$4.18B150x
ShortBullet ETH-USD2,738.50.0065get 0.0008% / 1h53m 42s$181K$1.7M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bullet 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
−$7.37
Price spread: +0.023% → +0.014%
$0.89
Slippage, 4 orders
−$3.12
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Bullet: 4 bp × 2 orders
−$8
Net
−$28.59
Costs to cover
0.221%
Break-even
never at this rate
Slippage from Bybit: live order book, 5 min ago; Bullet: live order book, just now.

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, 5 min ago0.02 bp5.5 bp −$66.8 bp −$688.2 bp −$82310.6 bp −$5,319
Sell Bullet live order book, just now0.37 bp4.8 bp −$58.1 bp −$81doesn't fitdoesn'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−0.0447%43m2,741.2+0.121%$300K$5.5M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,740.1+0.081%$118K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,739.1+0.045%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,739.2+0.047%$12.0M—200xas long as short
dYdX ETH-USD0.0000%1h2,739.5+0.058%$10.8M$41.7M50xas long as short
01 Exchange ETHUSD0.0000%1h2,739+0.041%$182K$834K50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,739.4+0.055%$25.4M—200xas long as short
Phoenix ETH+0.0017%1h2,739+0.041%$832K$2.9M25xas long as short
BingX ETH-USDT+0.0055%8h2,738.2+0.011%—$1.14B—as long as short
SoDEX ETH-USD+0.0062%1h2,738.9+0.037%$54.6M$187.6M40xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bullet ETH-USDshort+0.0065%1h2,738.5+0.023%$181K$1.7M20x
OKX ETH-USDT-SWAP+0.0069%8h2,738.2+0.012%$1.68B$10.59B100xas long as short
KuCoin ETHUSDTM+0.0072%8h2,738.4+0.020%$380.6M$573.4M100xas long as short
Aster ETHUSDT+0.0084%8h2,738.5+0.022%$253.3M$840.3M200xas long as short
Aevo ETH-PERP+0.0088%1h2,735.9−0.072%$4.9M$154K20xas long as short
MEXC ETH_USDT+0.0091%8h2,737.8−0.003%$1.56B$2.52B500xas long as short
Binance ETHUSDT+0.0091%8h2,738.2+0.011%$6.36B$15.70B150xas long as short
Lighter ETH+0.0096%1h2,738.8+0.033%$112.5M$431.3M50xas long as short
Lighter RH ETH+0.0096%1h2,740.2+0.084%$24.5M$102.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,741.3+0.125%—$30.5M500xas long as short
RISEx ETH/USDC+0.0099%1h2,739.1+0.043%$5.6M$11.4M25xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,742.4+0.165%$15.8M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,737.9+0.001%$499K$3.2M50xas long as short
Nado ETH-PERP+0.0100%1h2,739.6+0.061%$13.9M$104.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,740.7+0.103%$3.11B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,739+0.041%$31.7M$335.1M50xas long as short
Bybit ETHUSDTlong+0.0100%8h2,737.9long leg$2.43B$4.18B150x
Ondo Perps ETH-USD.P+0.0100%1h2,738.7+0.030%$2.7M$16.9M25xas long as short
Arcus ETH-USD+0.0100%1h2,738.9+0.037%$2.8M$16.0M25xas long as short
Bulk ETH-USD+0.0100%1h2,740.8+0.105%$166.9M$306.7M25xas long as short
Gate ETH_USDT+0.0100%8h2,738.5+0.023%$3.39B$8.68B200xas long as short
Bitget ETHUSDT+0.0100%8h2,738.3+0.016%$2.08B$2.72B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,739.3+0.051%$15.0M$39.6M50xas long as short
Variational Omni ETH+0.0100%8h2,741+0.112%$133.2M$324.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,734.9−0.108%$181.8M$664.6M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,737.4−0.019%$159.2M$83.8M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,734.9−0.107%$8.7M$30.7M100xas long as short
StandX ETH-USD+0.0100%1h2,740.7+0.103%$21.2M$69.6M40xas long as short
Vest ETH-PERP+0.0100%1h2,740.8+0.106%—$843K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,740.9+0.110%$11.0M$8.8M50xas long as short
Derive ETH-PERP+0.0100%1h2,740.3+0.088%$41.4M$29.7M15xas long as short
SunX ETH-USDT+0.0100%8h2,739.1+0.045%$960K$11.4M100xas long as short
HTX ETH-USDT+0.0100%8h2,738.6+0.026%$1.06B$1.18B200xas long as short
Phemex ETHUSDT+0.0100%8h2,739.3+0.050%$266.2M$65.2M150xas long as short
Extended ETH-USD+0.0104%1h2,737.2−0.024%$30.6M$72.3M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,740.9+0.110%$52.2M$4.26B50xas long as short
Aftermath Perps ETHUSD+0.0133%1h2,740.3+0.089%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0157%8h2,740.5+0.096%$7.7M$672.7M4.9xas long as short
Deribit ETH-PERPETUAL+0.0170%1h2,740.5+0.096%$260.0M$194.8M50xas long as short
Orderly PERP_ETH_USDC+0.0195%8h2,740.7+0.104%$32.2M$11.5M100xas long as short
BloFin ETH-USDT+0.0211%8h2,740.1+0.080%$285.8M$175.4M150xas long as short
Kraken Futures PF_ETHUSD+0.0221%1h2,740+0.076%$86.0M$309.7M100xas long as short
Reya ETHRUSDPERP+0.0225%1h2,738.8+0.033%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,741.6+0.136%$252K$1.4M20xas long as short
Bluefin ETH-PERP+0.2440%1h2,739.2+0.047%$21K$20K25xas long as short