Settings8H · net · $10k
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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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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.

Funding you earn now, next payment 00:00 UTC+0.0054%/8h= +6.0% APRnext payment +$0.07 per $10,000 · paid last 24h +0.009%
Price spread now: Derive against Deribit+0.038%7-day average +0.015% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on DeribitShort on Derive
What this pair did over the last
the charts below follow
Funding, last 7 days+0.109%+$11 on $10k
Price spread, last 3 days (all we have)−0.020%−$2 · spread now +0.038%, 7d avg +0.015%
Together, before fees+0.089%+$9 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Derive is 0.022% dearer against Deribit than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.015%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongDeribit ETH-PERPETUAL2,7710.0046pay 0.0006% / 1h11m 45s$259.0M$222.2M50x
ShortDerive ETH-PERP2,7720.0100get 0.0013% / 1h11m 45s$42.7M$29.4M15x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Derive against Deribit. 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: +0.038% → +0.015%
$2.24
Slippage, 4 orders
no order book: not counted
Fee Deribit: 3.5 bp × 2 orders
−$7
Fee Derive: 3 bp × 2 orders
−$6
Net
$0.68
Costs to cover
0.130%
Break-even
6.6 days
Slippage unknown: Deribit: live order book, 2 min ago; Derive: 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 Deribit live order book, 2 min ago0.36 bp5.1 bp −$55.6 bp −$569.0 bp −$89816.6 bp −$8,311
Sell Derive no order-book sample—————
Derive: 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−0.0223%43m2,771.4+0.015%$286K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0206%1h2,770.7−0.009%$5.6M$11.9M25xas long as short
Injective ETH/USDC PERP−0.0088%1h2,762.1−0.320%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,770.5−0.017%$5K$2K50xas long as short
ApeX Omni ETHUSDT−0.0022%1h2,771.4+0.016%$8.7M$33.0M100xas long as short
01 Exchange ETHUSD−0.0008%1h2,770.9−0.002%$168K$1.2M50xas long as short
dYdX ETH-USD0.0000%1h2,770.8−0.005%$12.7M$45.9M50xas long as short
Phoenix ETH+0.0003%1h2,771.8+0.030%$876K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,770.8−0.006%$22.4M—200xas long as short
OKX ETH-USDT-SWAP+0.0022%8h2,768.8−0.077%$1.70B$11.87B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX ETH/USD [ETH-USDC]L +0.0026% / S +0.0009%1h2,770.9−0.003%$12.8M—200xas long as short
Phemex ETHUSDT+0.0029%8h2,770.2−0.028%$270.0M$68.9M150xas long as short
Aftermath Perps ETHUSD+0.0030%1h2,772+0.036%$29K$22K20xas long as short
Aster ETHUSDT+0.0032%8h2,769.5−0.052%$255.6M$1.00B200xas long as short
SoDEX ETH-USD+0.0035%1h2,769.3−0.060%$55.1M$228.9M40xas long as short
Bullet ETH-USD+0.0039%1h2,770−0.033%$182K$1.7M20xas long as short
Deribit ETH-PERPETUALlong+0.0046%1h2,771long leg$259.0M$222.2M50x
Aevo ETH-PERP+0.0056%1h2,767.8−0.114%$5.0M$636K20xas long as short
Binance ETHUSDT+0.0056%8h2,769−0.072%$6.45B$17.30B150xas long as short
MEXC ETH_USDT+0.0057%8h2,768.8−0.080%$1.62B$2.66B500xas long as short
Bitget ETHUSDT+0.0065%8h2,768.9−0.074%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0068%8h2,769.7−0.045%$3.29B$9.68B200xas long as short
KuCoin ETHUSDTM+0.0081%8h2,769.3−0.059%$420.7M$739.3M100xas long as short
Bybit ETHUSDT+0.0088%8h2,769−0.070%$2.50B$4.62B150xas long as short
BingX ETH-USDC+0.0088%8h2,768.8−0.080%—$17.4M—as long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,771.1+0.005%$60.2M$4.59B50xas long as short
HTX ETH-USDT+0.0094%8h2,770.5−0.016%$1.08B$1.32B200xas long as short
Lighter ETH+0.0096%1h2,769.3−0.058%$115.1M$500.4M50xas long as short
Lighter RH ETH+0.0096%1h2,770.7−0.008%$25.3M$122.0M50xas long as short
Vest ETH-PERP+0.0096%1h2,771.1+0.007%—$1.1M50xas long as short
Nado ETH-PERP+0.0098%1h2,770.6−0.012%$14.3M$118.2M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,768.5−0.088%$15.9M$10.1M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,770.2−0.027%$475K$2.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,771.7+0.027%$3.17B$2.36B25xas long as short
Pacifica ETH+0.0100%1h2,769.5−0.053%$31.2M$315.2M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,768.8−0.078%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,769.9−0.038%$2.7M$17.3M25xas long as short
Bulk ETH-USD+0.0100%1h2,773+0.072%$170.1M$265.7M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,769.7−0.047%$15.1M$44.2M50xas long as short
Variational Omni ETH+0.0100%8h2,772.7+0.064%$147.4M$335.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,771.6+0.023%$182.0M$785.1M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,771.1+0.006%$161.1M$90.0M50xas long as short
StandX ETH-USD+0.0100%1h2,771.4+0.016%$21.4M$58.5M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,770.9−0.002%$10.6M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,770.7−0.011%$21K$24K25xas long as short
SunX ETH-USDT+0.0100%8h2,7710.000%$972K$13.9M100xas long as short
Derive ETH-PERPshort+0.0100%1h2,772+0.038%$42.7M$29.4M15x
Extended ETH-USD+0.0104%1h2,769.4−0.055%$32.5M$78.3M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,770.5−0.016%—$43.7M500xas long as short
Kalshi KXETHPERP+0.0108%8h2,771+0.001%$8.1M$687.2M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0123%1h2,770.7−0.009%$90.3M$338.3M100xas long as short
Orderly PERP_ETH_USDC+0.0143%8h2,772.2+0.045%$32.6M$12.2M100xas long as short
BloFin ETH-USDT+0.0178%8h2,770−0.035%$286.1M$194.7M150xas long as short
Reya ETHRUSDPERP+0.0204%1h2,770.3−0.024%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0208%1h2,772.1+0.040%$252K$1.6M20xas long as short