ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0183%/8h= −20.0% APRnext payment −$0.23 per $10,000 · paid last 24h +0.019%

Price spread now: dYdX against Deribit−0.095%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$220.217% of the position

Long on Deribit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.129%+$13 on $10k

Price spread, last 4 days (all we have)+0.326%+$33 · spread now −0.095%, 7d avg −0.023%

Together, before fees+0.455%+$45 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and dYdX is 0.072% cheaper against Deribit than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.023%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.129%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ETH-PERPETUAL	2,748.6	0.0183	pay 0.0023% / 1h	15m 57s	$259.8M	$196.0M	50x
Short	dYdX ETH-USD	2,746	0	get 0.0000% / 1h	15m 57s	$10.8M	$41.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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

Position, each leg$Hold fordaysFee DeribitbpFee dYdXbpOrdersPrice spread, now −0.095%Rate

Funding earned: −$38.43
Price spread: −0.095% → −0.023%: −$7.18
Slippage, 4 orders: −$4.67
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$67.28
Costs to cover: 0.217%
Break-even: never at this rate

Slippage from Deribit: 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Deribit live order book, 3 min ago	0.09 bp	3.6 bp −$4	3.9 bp −$39	8.6 bp −$863	16.8 bp −$8,420
Sell dYdX live order book, 3 min ago	0.18 bp	6.3 bp −$6	13.9 bp −$139	26.2 bp −$2,616	69.0 bp −$34.5K

ETH on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff ETH-PERP	−0.0080%	1h	2,746.3	−0.083%	$5K	$1K	50x	as long as short
Injective ETH/USDC PERP	−0.0044%	1h	2,746.8	−0.065%	$118K	$22.5M	52x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,747.3	−0.045%	$12.1M	—	200x	as long as short
dYdX ETH-USDshort	0.0000%	1h	2,746	−0.095%	$10.8M	$41.7M	50x
Perpl ETH	0.0000%	43m	2,746.3	−0.084%	$305K	$5.6M	8.3x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,747.4	−0.044%	$25.1M	—	200x	as long as short
Phoenix ETH	+0.0017%	1h	2,747	−0.057%	$848K	$2.9M	25x	as long as short
01 Exchange ETHUSD	+0.0024%	1h	2,746.6	−0.072%	$182K	$849K	50x	as long as short
ApeX Omni ETHUSDT	+0.0033%	1h	2,747.3	−0.047%	$8.9M	$30.7M	100x	as long as short
BingX ETH-USDC	+0.0053%	8h	2,746.7	−0.068%	—	$18.4M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0067%	8h	2,745.9	−0.096%	$1.71B	$10.56B	100x	as long as short
KuCoin ETHUSDTM	+0.0070%	8h	2,746.9	−0.061%	$382.2M	$575.4M	100x	as long as short
Bullet ETH-USD	+0.0073%	1h	2,746.9	−0.061%	$184K	$1.7M	20x	as long as short
RISEx ETH/USDC	+0.0077%	1h	2,746.4	−0.078%	$5.6M	$11.4M	25x	as long as short
Aster ETHUSDT	+0.0089%	8h	2,747.2	−0.049%	$254.2M	$840.9M	200x	as long as short
SoDEX ETH-USD	+0.0095%	1h	2,746.9	−0.061%	$54.7M	$187.6M	40x	as long as short
Lighter ETH	+0.0096%	1h	2,747.2	−0.049%	$113.0M	$435.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,748.6	0.000%	$24.6M	$104.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,746.1	−0.090%	—	$30.5M	500x	as long as short
MEXC ETH_USDT	+0.0096%	8h	2,747.4	−0.041%	$1.56B	$2.55B	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,744.4	−0.153%	$4.9M	$154K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0096%	1h	2,749.5	+0.033%	$58.0M	$4.26B	50x	as long as short
Binance ETHUSDT	+0.0096%	8h	2,747.3	−0.048%	$6.39B	$15.67B	150x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,750.8	+0.080%	$16.1M	$7.9M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,745.7	−0.105%	$468K	$3.1M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,746	−0.095%	$13.9M	$104.9M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,749.3	+0.026%	$3.12B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,746.4	−0.079%	$31.7M	$334.5M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,746.1	−0.091%	$2.46B	$4.17B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,745.1	−0.127%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,746.3	−0.082%	$2.7M	$16.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,742.3	−0.228%	$165.2M	$299.1M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,747.5	−0.041%	$3.39B	$8.76B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,746.2	−0.085%	$2.08B	$2.72B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,746.6	−0.072%	$15.0M	$39.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,746.6	−0.072%	$133.5M	$325.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,744.5	−0.147%	$182.4M	$673.5M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,746.6	−0.071%	$159.7M	$83.5M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,746.9	−0.061%	$21.2M	$67.8M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,747	−0.056%	—	$815K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,747.6	−0.036%	$11.0M	$8.8M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,748.7	+0.004%	$41.6M	$29.6M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,746.6	−0.073%	$963K	$11.5M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,746.7	−0.069%	$1.06B	$1.17B	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,747	−0.057%	$267.0M	$64.8M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,746.1	−0.089%	$30.7M	$72.0M	50x	as long as short
Aftermath Perps ETHUSD	+0.0129%	1h	2,745.9	−0.096%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0160%	8h	2,747.1	−0.054%	$7.8M	$669.8M	4.9x	as long as short
Deribit ETH-PERPETUALlong	+0.0183%	1h	2,748.6	long leg	$259.8M	$196.0M	50x
Orderly PERP_ETH_USDC	+0.0194%	8h	2,749.3	+0.025%	$32.4M	$11.4M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0221%	1h	2,747.9	−0.023%	$86.7M	$310.3M	100x	as long as short
Reya ETHRUSDPERP	+0.0228%	1h	2,745.8	−0.102%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0256%	1h	2,747.9	−0.026%	$253K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0290%	8h	2,746.1	−0.091%	$286.1M	$181.2M	150x	as long as short
Bluefin ETH-PERP	+0.0505%	1h	2,747	−0.059%	$21K	$20K	25x	as long as short