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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−0.0088%/8h= −9.6% APRnext payment −$0.11 per $10,000 · paid last 24h +0.028%
Price spread now: dYdX against Coinbase International−0.013%7-day average −0.013% · you buy dearer than you sell
Net, funding: paid 7d − costs−$18as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$270.272% of the position
Long on Coinbase InternationalShort on dYdX
What this pair did over the last
the charts below follow
Funding, last 7 days+0.089%+$9 on $10k
Price spread, last 3 days (all we have)−0.007%−$1 · spread now −0.013%, 7d avg −0.013%
Together, before fees+0.082%+$8 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.013%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.089%, so the current rate has only just turned against you.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongCoinbase International ETH-PERP-INTX2,7750.0088pay 0.0011% / 1h31m 31s$60.0M$4.60B50x
ShortdYdX ETH-USD2,774.60get 0.0000% / 1h31m 31s$12.7M$45.9M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

dYdX against Coinbase International. 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
−$18.48
Price spread: −0.013% → −0.013%
−$0.04
Slippage, 4 orders
−$7.24
Fee Coinbase International: 5 bp × 2 orders
−$10
Fee dYdX: 5 bp × 2 orders
−$10
Net
−$45.77
Costs to cover
0.272%
Break-even
never at this rate
Slippage from Coinbase International: live order book, 3 min ago; dYdX: 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 Coinbase International live order book, 3 min ago0.02 bp5.0 bp −$55.0 bp −$507.1 bp −$70619.4 bp −$9,725
Sell dYdX live order book, 3 min ago3.60 bp8.6 bp −$913.2 bp −$13217.6 bp −$1,75952.1 bp −$26.1K

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%43m2,773.7−0.048%$286K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0206%1h2,773.8−0.044%$5.6M$11.9M25xas long as short
Injective ETH/USDC PERP−0.0088%1h2,781.9+0.248%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,774.2−0.029%$5K$2K50xas long as short
ApeX Omni ETHUSDT−0.0044%1h2,774.2−0.030%$8.9M$32.8M100xas long as short
01 Exchange ETHUSD−0.0008%1h2,774.7−0.011%$168K$1.2M50xas long as short
dYdX ETH-USDshort0.0000%1h2,774.6−0.013%$12.7M$45.9M50x
Phoenix ETH+0.0003%1h2,775.6+0.021%$878K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,775.3+0.012%$22.4M—200xas long as short
Aftermath Perps ETHUSD+0.0011%1h2,777.2+0.078%$29K$22K20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDT+0.0016%8h2,773.6−0.050%—$1.21B—as long as short
OKX ETH-USDT-SWAP+0.0020%8h2,773.7−0.049%$1.70B$11.87B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0026% / S +0.0009%1h2,775.2+0.007%$12.9M—200xas long as short
Phemex ETHUSDT+0.0031%8h2,774.5−0.019%$270.5M$69.0M150xas long as short
Aster ETHUSDT+0.0034%8h2,774.2−0.028%$256.5M$1.00B200xas long as short
SoDEX ETH-USD+0.0048%1h2,773.5−0.054%$55.2M$229.1M40xas long as short
Bullet ETH-USD+0.0049%1h2,773.7−0.047%$183K$1.7M20xas long as short
MEXC ETH_USDT+0.0061%8h2,773.5−0.054%$1.60B$2.64B500xas long as short
Binance ETHUSDT+0.0062%8h2,773.6−0.051%$6.45B$17.28B150xas long as short
Aevo ETH-PERP+0.0064%1h2,771.4−0.130%$5.0M$636K20xas long as short
Bitget ETHUSDT+0.0067%8h2,773.8−0.045%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0072%8h2,773.8−0.043%$3.29B$9.64B200xas long as short
Deribit ETH-PERPETUAL+0.0078%1h2,775.3+0.010%$259.0M$222.2M50xas long as short
KuCoin ETHUSDTM+0.0087%8h2,773.7−0.048%$421.5M$739.2M100xas long as short
Coinbase International ETH-PERP-INTXlong+0.0088%1h2,775long leg$60.0M$4.60B50x
Bybit ETHUSDT+0.0091%8h2,773.8−0.043%$2.51B$4.62B150xas long as short
Vest ETH-PERP+0.0095%1h2,774.3−0.025%—$1.1M50xas long as short
HTX ETH-USDT+0.0095%8h2,774−0.036%$1.08B$1.32B200xas long as short
Lighter ETH+0.0096%1h2,774.4−0.023%$116.0M$497.6M50xas long as short
Lighter RH ETH+0.0096%1h2,775.6+0.023%$25.3M$121.3M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,774.8−0.006%—$42.0M500xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,773.2−0.064%$15.9M$10.2M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,773.9−0.040%$478K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,773.6−0.050%$14.3M$118.1M50xas long as short
Hyperliquid ETH+0.0100%1h2,776.3+0.046%$3.19B$2.35B25xas long as short
Pacifica ETH+0.0100%1h2,774.1−0.033%$31.2M$310.5M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,773.5−0.054%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,774.9−0.005%$2.8M$17.2M25xas long as short
Bulk ETH-USD+0.0100%1h2,777.9+0.103%$167.7M$256.4M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,774−0.036%$15.1M$44.5M50xas long as short
Variational Omni ETH+0.0100%8h2,775.8+0.027%$147.4M$335.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,773.6−0.052%$182.1M$784.0M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,774.2−0.030%$161.3M$89.3M50xas long as short
StandX ETH-USD+0.0100%1h2,775.9+0.032%$21.5M$58.7M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,774−0.036%$10.7M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,775.1+0.003%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,776.4+0.049%$42.7M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,774.3−0.027%$972K$13.9M100xas long as short
Extended ETH-USD+0.0104%1h2,773.1−0.069%$32.7M$78.0M50xas long as short
Kalshi KXETHPERP+0.0117%8h2,775.2+0.007%$8.3M$684.9M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0123%1h2,774.7−0.011%$86.5M$333.5M100xas long as short
Orderly PERP_ETH_USDC+0.0140%8h2,777+0.072%$32.6M$12.1M100xas long as short
BloFin ETH-USDT+0.0182%8h2,774−0.037%$286.4M$194.2M150xas long as short
Reya ETHRUSDPERP+0.0201%1h2,773.6−0.053%$7.4M$1.1M25xas long as short
Hibachi ETH/USDT-P+0.0240%1h2,775.5+0.019%$252K$1.6M20xas long as short