Funding arb · Price arb / Crypto

ETH

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LONGDerive▾Perpl −0.0335%Hibachi −0.0280%Derive −0.0272%HTX −0.0081%Phemex −0.0057%Bullet −0.0016%Phoenix −0.0012%Gate −0.0007%Kalshi 0.0000%Deribit 0.0000%N1 +0.0008%KuCoin +0.0019%SunX +0.0029%Injective +0.0033%MEXC +0.0046%Binance +0.0046%Aevo +0.0048%Aster +0.0062%gTrade (Gains Network) +0.0066%GMX +0.0066%Bybit +0.0068%Variational Omni +0.0085%OKX +0.0086%Nado +0.0088%Lighter +0.0096%Lighter RH +0.0096%Popdex +0.0096%Kraken Futures +0.0097%Paradex +0.0098%Katana Perps +0.0100%Hyperliquid +0.0100%Pacifica +0.0100%Ondo Perps +0.0100%Arcus +0.0100%Bulk +0.0100%Bitget +0.0100%BingX +0.0100%Backpack +0.0100%edgeX +0.0100%GRVT +0.0100%ApeX Omni +0.0100%StandX +0.0100%Vest Markets +0.0100%Polymarket Perps +0.0100%Reya +0.0100%Bluefin +0.0100%SoDEX +0.0100%Extended +0.0104%Jupiter Perps +0.0104%BloFin +0.0164%RISEx +0.0172%Orderly +0.0220%dYdX +0.0265%Aftermath Perps +0.0392%Coinbase International +0.0592%

⇄⇅

SHORTAvantis▾Coinbase International +0.0592%Aftermath Perps +0.0392%dYdX +0.0265%Orderly +0.0220%RISEx +0.0172%BloFin +0.0164%Extended +0.0104%Hyperliquid +0.0100%Pacifica +0.0100%Ondo Perps +0.0100%Arcus +0.0100%Bulk +0.0100%Bitget +0.0100%BingX +0.0100%Backpack +0.0100%edgeX +0.0100%GRVT +0.0100%ApeX Omni +0.0100%StandX +0.0100%Vest Markets +0.0100%Polymarket Perps +0.0100%Reya +0.0100%Bluefin +0.0100%SoDEX +0.0100%Katana Perps +0.0100%Paradex +0.0098%Kraken Futures +0.0097%Avantis −0.0096%Popdex +0.0096%Lighter +0.0096%Lighter RH +0.0096%Nado +0.0088%OKX +0.0086%Variational Omni +0.0085%Bybit +0.0068%Aster +0.0062%Aevo +0.0048%Binance +0.0046%MEXC +0.0046%GMX −0.0035%Injective +0.0033%SunX +0.0029%gTrade (Gains Network) −0.0021%KuCoin +0.0019%N1 +0.0008%Kalshi 0.0000%Deribit 0.0000%Gate −0.0007%Phoenix −0.0012%Bullet −0.0016%Jupiter Perps +0.0048%Phemex −0.0057%HTX −0.0081%Hibachi −0.0280%Perpl −0.0335%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	DeriveETH-PERP	2,702.3	−0.0272	get 0.0034% / 1h	10m 12s	$42.5M	$49.8M	15x	Long Derive
SHORT	AvantisETH/USD	2,705.6	L +0.0096S −0.0096	get 0.0012% / 1h	10m 12s	$3.5M	—	50x	Short Avantis

Price gap+0.122%

Funding gap+0.0368% /8h

Both sides work: funding pays +$11 a day on $10k, and the gap is 0.120% above its 7d average: +$12 more if it goes back.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid −0.006% in total, about −0.0003%/8h on average.

Price and funding

Price spreadPricesFundingLeg ratesP&L

1m5m15m1h

1h · history

24H3D7D14D30D90D

Price spread?

Prices?

Funding?per 8h

PRICE SPREAD · 7D

Now+0.122%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

DeriveAvantis

ETH on 56 exchanges

lowest funding first

Before you open

4 ok · 1 to watch

• i
  Note: Order book unknown—

  No order-book sample for Derive and Avantis: its slippage is not counted.
• i
  Note: Margin at max leverage$660 + $200

  Derive 15x, Avantis 50x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• ✓
  OK: Same payment interval1h / 1h

  Both legs pay at the same time.

  Long Derive · 1h+$8.15

  Short Avantis · 1h+$2.88

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: +$11.03Long Derive: 24 payments, +$8.15; short Avantis: 24 payments, +$2.88.
• ✓
  OK: Entry gap works for you+0.122% vs +0.002%

  You short the dearer leg. If the gap goes back to average, the short gains.
• !
  Watch: Short leg is thinner$3.5M vs $42.5M OI

  Avantis sets your exit cost. Check its book before closing.
• ✓
  OK: Points on a legAvantis Season 3

  Volume here counts toward the points program.
• ✓
  OK: No KYC on either legDerive No · Avantis No

  Both exchanges let you trade without ID.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned−0.0003%/8h × 21 periods−$0.58

Price spread+0.122% → +0.002% (7d avg)+$11.98

Slippage, 4 ordersno data for Derive and Avantis—

Fee Derive bp × 2 orders−$6.00

Fee Avantis bp × 2 orders−$9.00

Net, fees only · 7 days · $10k−$3.60

Costs to cover0.150%Break-evennever at this rate

Slippage: Derive: no order-book sample; Avantis: no order-book sample

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGDerive—————

SELL · SHORTAvantis—————

Closing costs about the same again.
Derive and Avantis: no data.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

ETH news

posts that mention ETH, from every exchangeSearch all news →

09-30 18:40	Hotstuff	Listing	ETH-PERP no longer reported ($ETH) seen by our collector
09-30 09:00	KuCoin	Other	📢 World Premiere:@ConcreteXYZ (CT) Listed on #KuCoin! Concrete (CT) is the full-stack institutional operating system for on-chain finance. From crypto to RWAs, it provides the infrastructure to launch products, embed yield, and unlock new assets on-chain. 📅 Trading starts: 10:00 on September 30, 2026 (UTC) 💰 Deposits: Open Now (ETH-ERC20) 🔁 Pair: CT/USDT Details: #KuListing #CT @kucoincom on X ↗
09-30 08:00	KuCoin	Other	Think Ethereum = crypto and nothing else? Think again! Behind the price chart sits a full ecosystem — thousands of apps, from lending platforms to games, all running on ETH. @kucoincom on X ↗
09-30 06:30	KuCoin	Other	📢 World Premiere: @ConcreteXYZ (CT) Listed on #KuCoin! Concrete (CT) is the full-stack institutional operating system for on-chain finance. From crypto to RWAs, it provides the infrastructure to launch products, embed yield, and unlock new assets on-chain. 📅 Trading starts: 10:00 on September 30, 2026 (UTC) 💰 Deposits: Open Now (ETH-ERC20) 🔁 Pair: CT/USDT Details: #KuListing #CT @kucoincom on X ↗
09-30 06:00	Gate	Other	Holding $ETH? Don’t just hold it. Put it to work. Long-term ETH doesn’t have to sit idle. With Gate ETH Staking, you can earn on-chain yield while keeping the flexibility to redeem anytime. Start with as little as 0.00000001 ETH, with an indicative APY of around 4%. Your ETH can do more than wait for the next pump. Read more: @Gate on X ↗
09-30 03:58	HTX	Token	10 trades. 3 alpha setups 👀 $ETH → ETF flows strong despite the chop $NVDA → Added $150B stock buyback plan $MU → Memory cycle heats up, earnings tonight which one has your eyes? Trade TradFi 24/7 on @HTXFutures @HTX_Global on X ↗