ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0208%/8h= +22.8% APRnext payment +$0.26 per $10,000 · paid last 24h +0.025%

Price spread now: Hibachi against Deribit+0.200%7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$3as in the Price arb table

costs, in and out, $10k−$240.243% of the position

Long on Deribit Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.277%−$28 on $10k

Price spread, last 4 days (all we have)−0.151%−$15 · spread now +0.200%, 7d avg −0.010%

Together, before fees−0.428%+ Points / potential airdropHibachi: Active · farm board−$43 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Hibachi is 0.209% dearer against Deribit than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of −0.010%. Mind the row above: over the last 7 days funding on this pair cost −0.277%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ETH-PERPETUAL	2,726.7	0.0040	pay 0.0005% / 1h	48m 16s	$260.1M	$196.7M	50x
Short	Hibachi ETH/USDT-P	2,732.1	0.0248	get 0.0031% / 1h	48m 16s	$254K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi 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 HibachibpOrdersPrice spread, now +0.200%Rate

Funding earned: $43.68
Price spread: +0.200% → −0.010%: $20.94
Slippage, 4 orders: −$8.34
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: $40.28
Costs to cover: 0.243%
Break-even: 0.5 days

Slippage from Deribit: live order book, 1 min ago; Hibachi: live order book, 1 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, 1 min ago	0.09 bp	3.7 bp −$4	4.5 bp −$45	9.9 bp −$991	29.4 bp −$14.7K
Sell Hibachi live order book, 1 min ago	0.02 bp	10.6 bp −$11	17.4 bp −$174	doesn't fit	doesn't fit

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
Perpl ETH	−0.0447%	43m	2,727.7	+0.037%	$301K	$5.6M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,735.5	+0.323%	$117K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,732.1	+0.198%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,727.8	+0.042%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,727.6	+0.034%	$10.7M	$41.7M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,727.9	+0.044%	$181K	$834K	50x	as long as short
Phoenix ETH	0.0000%	1h	2,741.2	+0.532%	$834K	$2.9M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,727.9	+0.043%	$25.7M	—	200x	as long as short
Bullet ETH-USD	+0.0029%	1h	2,727.1	+0.014%	$180K	$1.7M	20x	as long as short
SoDEX ETH-USD	+0.0034%	1h	2,725.3	−0.051%	$54.3M	$187.6M	40x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ETH-PERPETUALlong	+0.0040%	1h	2,726.7	long leg	$260.1M	$196.7M	50x
BingX ETH-USDC	+0.0056%	8h	2,727.1	+0.014%	—	$18.4M	—	as long as short
KuCoin ETHUSDTM	+0.0071%	8h	2,727.9	+0.045%	$379.6M	$573.8M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0072%	8h	2,726.8	+0.005%	$1.67B	$10.64B	100x	as long as short
Aster ETHUSDT	+0.0082%	8h	2,728	+0.048%	$252.2M	$842.3M	200x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,726.6	−0.005%	$4.9M	$154K	20x	as long as short
Binance ETHUSDT	+0.0089%	8h	2,727.3	+0.024%	$6.33B	$15.79B	150x	as long as short
MEXC ETH_USDT	+0.0090%	8h	2,727.7	+0.038%	$1.53B	$2.54B	500x	as long as short
Lighter ETH	+0.0096%	1h	2,726	−0.025%	$111.9M	$434.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,728.7	+0.073%	$23.9M	$104.4M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,727.8	+0.040%	—	$30.4M	500x	as long as short
RISEx ETH/USDC	+0.0099%	1h	2,729.8	+0.113%	$5.6M	$11.5M	25x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,731.9	+0.191%	$15.8M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,728.3	+0.059%	$497K	$3.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,727.6	+0.033%	$13.8M	$104.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,730.2	+0.127%	$3.09B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,728.4	+0.062%	$31.6M	$333.8M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,726.6	−0.005%	$2.39B	$4.30B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,728.4	+0.062%	$2.7M	$16.9M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,729.9	+0.118%	$2.8M	$16.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,740.8	+0.516%	$166.9M	$306.7M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,727.6	+0.033%	$3.35B	$8.73B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,725.2	−0.055%	$2.07B	$2.74B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,727.7	+0.036%	$15.0M	$39.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,734.9	+0.301%	$133.1M	$324.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,738	+0.413%	$182.0M	$665.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,739	+0.450%	$159.4M	$84.4M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,735.3	+0.315%	$8.7M	$30.7M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,732.1	+0.198%	$21.1M	$69.6M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,729.8	+0.112%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,729	+0.084%	$10.9M	$8.8M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,727.4	+0.026%	$41.2M	$29.7M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,725.4	−0.049%	$955K	$11.4M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,724.7	−0.075%	$1.05B	$1.19B	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,725.8	−0.032%	$265.0M	$65.3M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,725.9	−0.028%	$30.4M	$72.5M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,726.7	−0.002%	$52.0M	$4.25B	50x	as long as short
Aftermath Perps ETHUSD	+0.0120%	1h	2,736.2	+0.348%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0155%	8h	2,729	+0.084%	$6.5M	$676.0M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0194%	8h	2,729.7	+0.109%	$32.1M	$11.5M	100x	as long as short
BloFin ETH-USDT	+0.0211%	8h	2,728	+0.048%	$284.8M	$173.9M	150x	as long as short
Kraken Futures PF_ETHUSD	+0.0223%	1h	2,726	−0.027%	$84.5M	$313.3M	100x	as long as short
Reya ETHRUSDPERP	+0.0224%	1h	2,726.7	0.000%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-Pshort	+0.0248%	1h	2,732.1	+0.200%	$254K	$1.4M	20x
Bluefin ETH-PERP	+0.0895%	1h	2,728	+0.046%	$21K	$20K	25x	as long as short