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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Funding you earn now, next payment 08:00 UTC+0.0054%/8h= +6.0% APRnext payment +$0.54 per $10,000 · paid last 24h +0.030%
Price spread now: Orderly against Bybit+0.101%7-day average +0.082% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on BybitShort on Orderly
What this pair did over the last
the charts below follow
Funding, last 7 days+0.275%+$28 on $10k
Price spread, last 3 days (all we have)−0.037%−$4 · spread now +0.101%, 7d avg +0.082%
Together, before fees+0.239%+$24 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.082%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit ETHUSDT2,765.90.0100pay 0.0100% / 8h7h 19m$2.51B$4.32B150x
ShortOrderly PERP_ETH_USDC2,768.60.0154get 0.0154% / 8h7h 19m$32.6M$11.1M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Orderly 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
$11.44
Price spread: +0.101% → +0.082%
$1.93
Slippage, 4 orders
no order book: not counted
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Orderly: 3 bp × 2 orders
−$6
Net
−$3.64
Costs to cover
0.170%
Break-even
9.2 days
Slippage unknown: Bybit: live order book, 5 min ago; Orderly: no order-book sample. Net counts fees only.

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 −$65.5 bp −$557.3 bp −$73010.9 bp −$5,441
Sell Orderly no order-book sample—————
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Injective ETH/USDC PERP−0.0752%1h2,776.9+0.400%$119K$22.5M52xas long as short
RISEx ETH/USDC−0.0128%1h2,766.7+0.031%$5.6M$11.2M25xas long as short
Perpl ETH−0.0112%43m2,767.1+0.044%$326K$6.2M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,767.2+0.049%$5K$1K50xas long as short
01 Exchange ETHUSD−0.0032%1h2,767.1+0.045%$169K$1.1M50xas long as short
Phoenix ETH−0.0003%1h2,772+0.222%$873K$3.7M25xas long as short
dYdX ETH-USD0.0000%1h2,767.8+0.071%$12.2M$43.2M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,767.2+0.049%$22.4M—200xas long as short
Bullet ETH-USD+0.0019%1h2,766.7+0.031%$184K$1.7M20xas long as short
OKX ETH-USDT-SWAP+0.0028%8h2,765.6−0.009%$1.71B$11.11B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX ETH-USD+0.0032%1h2,768.2+0.085%$55.1M$188.0M40xas long as short
GMX ETH/USD [ETH-USDC]L +0.0043% / S −0.0009%1h2,768.7+0.102%$12.7M—200xas long as short
Aster ETHUSDT+0.0047%8h2,766.5+0.023%$255.8M$885.0M200xas long as short
Gate ETH_USDT+0.0056%8h2,767.1+0.046%$3.37B$9.05B200xas long as short
MEXC ETH_USDT+0.0059%8h2,767.5+0.058%$1.61B$2.65B500xas long as short
Binance ETHUSDT+0.0060%8h2,766.6+0.025%$6.47B$16.25B150xas long as short
Aevo ETH-PERP+0.0064%1h2,768.2+0.084%$5.0M$165K20xas long as short
Aftermath Perps ETHUSD+0.0072%1h2,771.1+0.190%$31K$21K20xas long as short
Bitget ETHUSDT+0.0075%8h2,767.9+0.073%$2.10B$2.87B150xas long as short
Coinbase International ETH-PERP-INTX+0.0080%1h2,769.4+0.127%$60.3M$4.42B50xas long as short
Phemex ETHUSDT+0.0081%8h2,768.3+0.087%$269.4M$67.4M150xas long as short
Vest ETH-PERP+0.0082%1h2,767.8+0.071%—$876K50xas long as short
KuCoin ETHUSDTM+0.0085%8h2,766.9+0.039%$420.4M$619.7M100xas long as short
Lighter ETH+0.0096%1h2,766.5+0.025%$114.8M$458.5M50xas long as short
Lighter RH ETH+0.0096%1h2,768.1+0.081%$25.6M$111.7M50xas long as short
Deribit ETH-PERPETUAL+0.0097%1h2,769.7+0.138%$259.1M$204.6M50xas long as short
ApeX Omni ETHUSDT+0.0098%1h2,768.2+0.085%$8.7M$32.1M100xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,769.1+0.116%$15.9M$8.6M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,766.9+0.038%$488K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,766.1+0.007%$14.6M$113.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,770.2+0.157%$3.17B$2.18B25xas long as short
Pacifica ETH+0.0100%1h2,767.6+0.063%$31.2M$328.0M50xas long as short
Bybit ETHUSDTlong+0.0100%8h2,765.9long leg$2.51B$4.32B150x
Ondo Perps ETH-USD.P+0.0100%1h2,766.1+0.009%$2.8M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,767.3+0.052%$2.8M$16.8M25xas long as short
Bulk ETH-USD+0.0100%1h2,772.8+0.253%$170.3M$276.6M25xas long as short
BingX ETH-USDT+0.0100%8h2,766.8+0.035%—$1.21B—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,767.6+0.061%$15.1M$42.1M50xas long as short
Variational Omni ETH+0.0100%8h2,768.5+0.098%$137.0M$344.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,768.1+0.081%$181.7M$785.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,768.8+0.106%$161.1M$85.1M50xas long as short
StandX ETH-USD+0.0100%1h2,767.8+0.071%$21.4M$64.0M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,767.6+0.063%$10.5M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,769.3+0.126%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,770.4+0.164%$42.6M$28.9M15xas long as short
SunX ETH-USDT+0.0100%8h2,767.3+0.052%$970K$13.1M100xas long as short
HTX ETH-USDT+0.0100%8h2,768+0.079%$1.08B$1.25B200xas long as short
Extended ETH-USD+0.0104%1h2,766+0.006%$30.9M$74.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,769+0.115%—$36.1M500xas long as short
Kalshi KXETHPERP+0.0109%8h2,768.8+0.107%$8.0M$679.1M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0134%1h2,769.6+0.136%$96.0M$318.8M100xas long as short
Hibachi ETH/USDT-P+0.0152%1h2,769.3+0.124%$252K$1.5M20xas long as short
Orderly PERP_ETH_USDCshort+0.0154%8h2,768.6+0.101%$32.6M$11.1M100x
BloFin ETH-USDT+0.0182%8h2,768.7+0.103%$287.1M$181.1M150xas long as short
Reya ETHRUSDPERP+0.0213%1h2,767.6+0.064%$7.3M$1.1M25xas long as short