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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 01:00 UTC+0.0007%/8h= +0.8% APRnext payment +$0.01 per $10,000 · paid last 24h +0.001%
Price spread now: Extended against Deribit−0.132%7-day average −0.076% · 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−$20as in the Price arb table
costs, in and out, $10k−$150.146% of the position
Long on DeribitShort on Extended
What this pair did over the last
the charts below follow
Funding, last 7 days+0.053%+$5 on $10k
Price spread, last 3 days (all we have)+0.079%+$8 · spread now −0.132%, 7d avg −0.076%
Together, before fees+0.132%+ Points / potential airdropExtended: Active · farm board+$13 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.056% cheaper against Deribit than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.076%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongDeribit ETH-PERPETUAL2,769.70.0097pay 0.0012% / 1h19m 21s$259.1M$204.6M50x
ShortExtended ETH-USD2,7660.0104get 0.0013% / 1h19m 21s$30.9M$74.9M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Extended against Deribit. 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
$1.47
Price spread: −0.132% → −0.076%
−$5.61
Slippage, 4 orders
−$2.59
Fee Deribit: 3.5 bp × 2 orders
−$7
Fee Extended: 2.5 bp × 2 orders
−$5
Net
−$18.73
Costs to cover
0.146%
Break-even
96.2 days
Slippage from Deribit: live order book, 5 min ago; Extended: live order book, 5 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 Deribit live order book, 5 min ago0.09 bp4.7 bp −$55.6 bp −$5612.0 bp −$1,20424.1 bp −$12.1K
Sell Extended live order book, 5 min ago0.18 bp2.7 bp −$32.7 bp −$274.7 bp −$47013.4 bp −$6,714

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+0.261%$119K$22.5M52xas long as short
RISEx ETH/USDC−0.0128%1h2,766.7−0.107%$5.6M$11.2M25xas long as short
Perpl ETH−0.0112%43m2,767.1−0.094%$326K$6.2M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,767.2−0.090%$5K$1K50xas long as short
01 Exchange ETHUSD−0.0032%1h2,767.1−0.093%$169K$1.1M50xas long as short
Phoenix ETH−0.0003%1h2,772+0.084%$873K$3.7M25xas long as short
dYdX ETH-USD0.0000%1h2,767.8−0.067%$12.2M$43.2M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,767.2−0.089%$22.4M—200xas long as short
Bullet ETH-USD+0.0019%1h2,766.7−0.108%$184K$1.7M20xas long as short
OKX ETH-USDT-SWAP+0.0028%8h2,765.6−0.147%$1.71B$11.11B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX ETH-USD+0.0032%1h2,768.2−0.053%$55.1M$188.0M40xas long as short
GMX ETH/USD [ETH-USDC]L +0.0043% / S −0.0009%1h2,768.7−0.036%$12.7M—200xas long as short
Aster ETHUSDT+0.0047%8h2,766.5−0.115%$255.8M$885.0M200xas long as short
Gate ETH_USDT+0.0056%8h2,767.1−0.092%$3.37B$9.05B200xas long as short
MEXC ETH_USDT+0.0059%8h2,767.5−0.081%$1.61B$2.65B500xas long as short
Binance ETHUSDT+0.0060%8h2,766.6−0.113%$6.47B$16.25B150xas long as short
Aevo ETH-PERP+0.0064%1h2,768.2−0.054%$5.0M$165K20xas long as short
Aftermath Perps ETHUSD+0.0072%1h2,771.1+0.051%$31K$21K20xas long as short
Bitget ETHUSDT+0.0075%8h2,767.9−0.065%$2.10B$2.87B150xas long as short
Coinbase International ETH-PERP-INTX+0.0080%1h2,769.4−0.012%$60.3M$4.42B50xas long as short
Phemex ETHUSDT+0.0081%8h2,768.3−0.051%$269.4M$67.4M150xas long as short
Vest ETH-PERP+0.0082%1h2,767.8−0.067%—$876K50xas long as short
KuCoin ETHUSDTM+0.0085%8h2,766.9−0.099%$420.4M$619.7M100xas long as short
Lighter ETH+0.0096%1h2,766.5−0.114%$114.8M$458.5M50xas long as short
Lighter RH ETH+0.0096%1h2,768.1−0.057%$25.6M$111.7M50xas long as short
Deribit ETH-PERPETUALlong+0.0097%1h2,769.7long leg$259.1M$204.6M50x
ApeX Omni ETHUSDT+0.0098%1h2,768.2−0.054%$8.7M$32.1M100xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,769.1−0.022%$15.9M$8.6M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,766.9−0.100%$488K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,766.1−0.131%$14.6M$113.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,770.2+0.019%$3.17B$2.18B25xas long as short
Pacifica ETH+0.0100%1h2,767.6−0.075%$31.2M$328.0M50xas long as short
Bybit ETHUSDT+0.0100%8h2,765.9−0.138%$2.51B$4.32B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,766.1−0.129%$2.8M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,767.3−0.086%$2.8M$16.8M25xas long as short
Bulk ETH-USD+0.0100%1h2,772.8+0.114%$170.3M$276.6M25xas long as short
BingX ETH-USDT+0.0100%8h2,766.8−0.103%—$1.21B—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,767.6−0.077%$15.1M$42.1M50xas long as short
Variational Omni ETH+0.0100%8h2,768.5−0.041%$137.0M$344.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,768.1−0.057%$181.7M$785.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,768.8−0.033%$161.1M$85.1M50xas long as short
StandX ETH-USD+0.0100%1h2,767.8−0.068%$21.4M$64.0M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,767.6−0.075%$10.5M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,769.3−0.012%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,770.4+0.026%$42.6M$28.9M15xas long as short
SunX ETH-USDT+0.0100%8h2,767.3−0.086%$970K$13.1M100xas long as short
HTX ETH-USDT+0.0100%8h2,768−0.060%$1.08B$1.25B200xas long as short
Extended ETH-USDshort+0.0104%1h2,766−0.132%$30.9M$74.9M50x
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,769−0.024%—$36.1M500xas long as short
Kalshi KXETHPERP+0.0109%8h2,768.8−0.032%$8.0M$679.1M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0134%1h2,769.6−0.002%$96.0M$318.8M100xas long as short
Hibachi ETH/USDT-P+0.0152%1h2,769.3−0.015%$252K$1.5M20xas long as short
Orderly PERP_ETH_USDC+0.0154%8h2,768.6−0.038%$32.6M$11.1M100xas long as short
BloFin ETH-USDT+0.0182%8h2,768.7−0.035%$287.1M$181.1M150xas long as short
Reya ETHRUSDPERP+0.0213%1h2,767.6−0.074%$7.3M$1.1M25xas long as short