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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 23:00 UTC+0.0102%/8h= +11.2% APRpaid last 24h +0.011%
Price spread now: Reya against Bybit−0.001%7-day average −0.026% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on BybitShort on Reya
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.055%+$6 on $10k
Price spread, last 7 days−0.015%−$1 · spread now −0.001%, 7d avg −0.026%
Together, before fees+0.041%+ Points / potential airdropReya: Active · farm board+$4 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Reya is 0.025% dearer against Bybit than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.026%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit ETHUSDT2,772.40.0092pay 0.0092% / 8h1h 12m$2.52B$4.62B150x
ShortReya ETHRUSDPERP2,772.30.0194get 0.0024% / 1h12m 11s$7.4M$1.2M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Reya against Bybit. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$21.42
Price spread: −0.001% → −0.026%
$2.47
Slippage, 4 orders
no order book: not counted
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Reya: 3 bp × 2 orders
−$6
Net
$6.89
Costs to cover
0.170%
Break-even
4.7 days
Slippage unknown: Bybit: live order book, 2 min ago; Reya: 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, 2 min ago0.02 bp5.5 bp −$65.5 bp −$557.1 bp −$7159.8 bp −$4,891
Sell Reya no order-book sample—————
Reya: 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
Perpl ETH−0.0447%43m2,772.9+0.020%$287K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,772.4+0.001%$5.7M$11.8M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,773.1+0.026%$5K$2K50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,779.6+0.261%$119K$22.5M52xas long as short
01 Exchange ETHUSD−0.0040%1h2,772.9+0.019%$169K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0002%1h2,775.7+0.119%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,774.2+0.066%$12.7M$45.6M50xas long as short
Phoenix ETH0.0000%1h2,775.9+0.127%$885K$3.7M25xas long as short
Deribit ETH-PERPETUAL+0.0002%1h2,774+0.058%$258.5M$222.4M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,773.4+0.036%$22.4M—200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0015%8h2,772.1−0.011%—$17.4M—as long as short
OKX ETH-USDT-SWAP+0.0018%8h2,771.3−0.038%$1.70B$11.84B100xas long as short
Phemex ETHUSDT+0.0024%8h2,772.5+0.005%$269.8M$68.6M150xas long as short
GMX ETH/USD [ETH-USDC]L +0.0027% / S +0.0009%1h2,773.2+0.031%$12.9M—200xas long as short
Bullet ETH-USD+0.0028%1h2,772.4+0.002%$181K$1.7M20xas long as short
Aster ETHUSDT+0.0035%8h2,772.40.000%$255.8M$992.4M200xas long as short
Nado ETH-PERP+0.0060%1h2,772.3−0.002%$14.2M$118.2M50xas long as short
MEXC ETH_USDT+0.0064%8h2,772.2−0.005%$1.61B$2.67B500xas long as short
Aevo ETH-PERP+0.0064%1h2,770.9−0.054%$5.0M$636K20xas long as short
Binance ETHUSDT+0.0064%8h2,772.40.000%$6.43B$17.21B150xas long as short
SoDEX ETH-USD+0.0065%1h2,772.4+0.001%$55.2M$228.9M40xas long as short
ApeX Omni ETHUSDT+0.0066%1h2,775.6+0.115%$8.8M$32.6M100xas long as short
Bitget ETHUSDT+0.0068%8h2,772.4+0.002%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0073%8h2,772.5+0.004%$3.29B$9.66B200xas long as short
HTX ETH-USDT+0.0092%8h2,772.5+0.004%$1.08B$1.32B200xas long as short
Bybit ETHUSDTlong+0.0092%8h2,772.4long leg$2.52B$4.62B150x
Lighter ETH+0.0096%1h2,772.8+0.016%$115.0M$502.4M50xas long as short
Lighter RH ETH+0.0096%1h2,774.3+0.069%$25.4M$121.7M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,773.4+0.038%—$41.6M500xas long as short
KuCoin ETHUSDTM+0.0097%8h2,772.4+0.001%$422.1M$739.0M100xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,772.1−0.010%$15.9M$10.5M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,773.1+0.026%$477K$2.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,775.1+0.098%$3.19B$2.36B25xas long as short
Pacifica ETH+0.0100%1h2,773.1+0.028%$31.2M$302.0M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,772.2−0.006%$2.8M$17.0M25xas long as short
Arcus ETH-USD+0.0100%1h2,774+0.057%$2.7M$17.5M25xas long as short
Bulk ETH-USD+0.0100%1h2,778.9+0.236%$165.9M$253.8M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,773+0.022%$15.1M$44.1M50xas long as short
Variational Omni ETH+0.0100%8h2,774.7+0.086%$141.6M$331.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,775.7+0.120%$181.7M$784.8M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,775.8+0.123%$161.4M$91.4M50xas long as short
StandX ETH-USD+0.0100%1h2,773.5+0.041%$21.4M$58.2M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,773.8+0.052%$10.8M$7.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,773.5+0.040%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,774.9+0.090%$42.7M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,771.9−0.016%$972K$14.0M100xas long as short
Vest ETH-PERP+0.0100%1h2,773.2+0.029%—$1.1M50xas long as short
Extended ETH-USD+0.0104%1h2,771.9−0.019%$32.6M$77.7M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,773.6+0.043%$59.7M$4.60B50xas long as short
Kalshi KXETHPERP+0.0125%8h2,773.4+0.037%$8.4M$680.5M4.9xas long as short
Orderly PERP_ETH_USDC+0.0136%8h2,775.2+0.101%$32.5M$12.0M100xas long as short
Kraken Futures PF_ETHUSD+0.0170%1h2,773.4+0.036%$86.0M$332.4M100xas long as short
BloFin ETH-USDT+0.0184%8h2,772.5+0.005%$283.9M$194.3M150xas long as short
Reya ETHRUSDPERPshort+0.0194%1h2,772.3−0.001%$7.4M$1.2M25x
Hibachi ETH/USDT-P+0.0248%1h2,773.9+0.056%$270K$1.5M20xas long as short