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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+0.0141%/8h= +15.4% APRpaid last 24h 0.000%
Price spread now: Kraken Futures against Bybit+0.010%7-day average +0.007% · you sell dearer than you buy
Net, funding: paid 7d − costs−$10as in the Funding arb table
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$220.223% of the position
Long on BybitShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 7 days+0.121%+$12 on $10k
Price spread, last 3 days (all we have)−0.061%−$6 · spread now +0.010%, 7d avg +0.007%
Together, before fees+0.060%+$6 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.007%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit ETHUSDT2,766.70.0100pay 0.0100% / 8h2h 35m$2.50B$4.64B150x
ShortKraken Futures PF_ETHUSD2,7670.0241get 0.0030% / 1h35m 12s$87.9M$329.6M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures 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
$29.55
Price spread: +0.010% → +0.007%
$0.36
Slippage, 4 orders
−$1.31
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$7.61
Costs to cover
0.223%
Break-even
5.2 days
Slippage from Bybit: live order book, 4 min ago; Kraken Futures: 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 Bybit live order book, 4 min ago0.02 bp5.5 bp −$65.5 bp −$556.8 bp −$6839.4 bp −$4,680
Sell Kraken Futures live order book, 4 min ago0.36 bp5.7 bp −$67.0 bp −$709.0 bp −$90413.9 bp −$6,953

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%43m2,765.3−0.052%$288K$6.8M8.3xas long as short
Injective ETH/USDC PERP−0.0107%1h2,766.1−0.023%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,764.5−0.081%$5K$2K50xas long as short
01 Exchange ETHUSD−0.0064%1h2,765.4−0.048%$172K$1.2M50xas long as short
ApeX Omni ETHUSDT−0.0052%1h2,767.5+0.029%$8.8M$32.5M100xas long as short
Phoenix ETH−0.0023%1h2,767.2+0.017%$795K$3.7M25xas long as short
RISEx ETH/USDC−0.0011%1h2,765.2−0.057%$5.8M$11.8M25xas long as short
dYdX ETH-USD0.0000%1h2,765.6−0.040%$12.7M$45.5M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,765.9−0.030%$22.3M—200xas long as short
BingX ETH-USDC+0.0016%8h2,767.1+0.013%—$17.3M—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0021%8h2,766.9+0.007%$1.70B$11.85B100xas long as short
Aftermath Perps ETHUSD+0.0025%1h2,767.2+0.016%$29K$21K20xas long as short
GMX ETH/USD [ETH-USDC]L +0.0028% / S +0.0009%1h2,765.9−0.031%$13.1M—200xas long as short
Phemex ETHUSDT+0.0030%8h2,766.8+0.003%$266.3M$66.0M150xas long as short
Aster ETHUSDT+0.0037%8h2,766.2−0.018%$255.7M$995.1M200xas long as short
Deribit ETH-PERPETUAL+0.0039%1h2,767.1+0.014%$258.4M$224.5M50xas long as short
MEXC ETH_USDT+0.0046%8h2,767.3+0.021%$1.62B$2.65B500xas long as short
Binance ETHUSDT+0.0046%8h2,766.9+0.006%$6.42B$17.19B150xas long as short
Aevo ETH-PERP+0.0048%1h2,763.5−0.118%$5.0M$636K20xas long as short
Gate ETH_USDT+0.0063%8h2,767.9+0.041%$3.28B$9.61B200xas long as short
Bitget ETHUSDT+0.0074%8h2,767.2+0.018%$2.09B$3.13B150xas long as short
Bullet ETH-USD+0.0084%1h2,765.1−0.060%$184K$1.8M20xas long as short
Variational Omni ETH+0.0092%8h2,764−0.098%$140.6M$319.6M—as long as short
Lighter ETH+0.0096%1h2,765.9−0.030%$115.2M$511.4M50xas long as short
Lighter RH ETH+0.0096%1h2,767.7+0.036%$25.3M$122.1M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,765.8−0.035%—$41.7M500xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,764.9−0.068%$15.9M$10.9M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,765.5−0.045%$479K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,764.6−0.076%$14.7M$116.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,770.2+0.125%$3.19B$2.38B25xas long as short
Pacifica ETH+0.0100%1h2,765.5−0.046%$31.1M$285.6M50xas long as short
Bybit ETHUSDTlong+0.0100%8h2,766.7long leg$2.50B$4.64B150x
Ondo Perps ETH-USD.P+0.0100%1h2,764.4−0.085%$2.9M$16.5M25xas long as short
Arcus ETH-USD+0.0100%1h2,767+0.011%$2.8M$17.5M25xas long as short
Bulk ETH-USD+0.0100%1h2,765.5−0.044%$164.9M$254.7M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,765.5−0.046%$424.0M$741.2M100xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,768.1+0.049%$15.3M$42.4M50xas long as short
edgeX ETHUSDC+0.0100%4h2,763.9−0.103%$177.7M$791.0M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,767.6+0.031%$160.9M$97.1M50xas long as short
StandX ETH-USD+0.0100%1h2,765.2−0.056%$21.4M$57.7M40xas long as short
Vest ETH-PERP+0.0100%1h2,765.9−0.030%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,766.8+0.002%$10.8M$7.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,766−0.025%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,768+0.046%$42.6M$29.2M15xas long as short
SunX ETH-USDT+0.0100%8h2,764.2−0.090%$970K$14.3M100xas long as short
SoDEX ETH-USD+0.0100%1h2,765.2−0.056%$55.1M$228.6M40xas long as short
HTX ETH-USDT+0.0100%8h2,766.3−0.016%$1.08B$1.32B200xas long as short
Extended ETH-USD+0.0104%1h2,764.9−0.068%$31.4M$76.1M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,767.3+0.020%$60.1M$4.62B50xas long as short
Kalshi KXETHPERP+0.0120%8h2,766.1−0.023%$8.6M$671.9M4.9xas long as short
Orderly PERP_ETH_USDC+0.0131%8h2,768.2+0.051%$32.5M$11.9M100xas long as short
BloFin ETH-USDT+0.0166%8h2,766.1−0.023%$285.7M$194.8M150xas long as short
Reya ETHRUSDPERP+0.0185%1h2,764.2−0.091%$7.5M$998K25xas long as short
Kraken Futures PF_ETHUSDshort+0.0241%1h2,767+0.010%$87.9M$329.6M100x
Hibachi ETH/USDT-P+0.0416%1h2,766.2−0.020%$280K$1.5M20xas long as short