ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0116%/8h= −12.7% APRnext payment −$0.15 per $10,000 · paid last 24h −0.044%

Price spread now: GMX against Derive−0.073%7-day average −0.048% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Derive Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.054%−$5 on $10k

Price spread, last 3 days (all we have)+0.313%+$31 · spread now −0.073%, 7d avg −0.048%

Together, before fees+0.260%+$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and GMX is 0.025% cheaper against Derive than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.048%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive ETH-PERP	2,778.5	0.0106	pay 0.0013% / 1h	9m 07s	$43.1M	$30.0M	15x
Short	GMX ETH/USD [ETH-USDC]	2,776.5	L +0.0026% / S +0.0010%	pay 0.0001% / 1h	9m 07s	$13.1M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Derive. 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 DerivebpFee GMXbpOrdersPrice spread, now −0.073%Rate

Funding earned: −$24.43
Price spread: −0.073% → −0.048%: −$2.54
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: −$44.97
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; GMX: 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Derive no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Derive and GMX: 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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ETH	−0.0447%	43m	2,776.9	−0.058%	$291K	$6.9M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,777.1	−0.050%	$5K	$2K	50x	as long as short
Phoenix ETH	−0.0032%	1h	2,780	+0.054%	$795K	$3.5M	25x	as long as short
RISEx ETH/USDC	−0.0005%	1h	2,776.4	−0.076%	$5.8M	$12.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,777.1	−0.051%	$13.5M	$44.8M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,776.6	−0.068%	$173K	$1.2M	50x	as long as short
Injective ETH/USDC PERP	+0.0003%	1h	2,777.4	−0.039%	$119K	$22.5M	52x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,776.4	−0.074%	$22.4M	—	200x	as long as short
Phemex ETHUSDT	+0.0016%	8h	2,776.5	−0.071%	$267.3M	$65.8M	150x	as long as short
BingX ETH-USDT	+0.0018%	8h	2,776.7	−0.065%	—	$1.19B	—	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	+0.0022%	8h	2,776.3	−0.078%	$1.70B	$11.94B	100x	as long as short
GMX ETH/USD [ETH-USDC]short	L +0.0026% / S +0.0010%	1h	2,776.5	−0.073%	$13.1M	—	200x
Aftermath Perps ETHUSD	+0.0033%	1h	2,782.1	+0.129%	$29K	$22K	20x	as long as short
Binance ETHUSDT	+0.0047%	8h	2,776.8	−0.060%	$6.46B	$17.30B	150x	as long as short
MEXC ETH_USDT	+0.0047%	8h	2,776.3	−0.079%	$1.60B	$2.63B	500x	as long as short
Aevo ETH-PERP	+0.0048%	1h	2,774	−0.162%	$5.0M	$652K	20x	as long as short
Aster ETHUSDT	+0.0055%	8h	2,776.7	−0.063%	$257.2M	$1.00B	200x	as long as short
Gate ETH_USDT	+0.0056%	8h	2,776.7	−0.063%	$3.30B	$9.67B	200x	as long as short
Bitget ETHUSDT	+0.0073%	8h	2,776.9	−0.059%	$2.10B	$3.17B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,776.5	−0.071%	$115.5M	$526.0M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,778	−0.017%	$25.6M	$126.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,777.7	−0.030%	—	$46.3M	500x	as long as short
Variational Omni ETH	+0.0099%	8h	2,779.8	+0.046%	$141.0M	$320.2M	—	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,777.3	−0.043%	$493K	$2.7M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,779.9	+0.050%	$16.0M	$11.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,775.9	−0.092%	$16.9M	$115.0M	50x	as long as short
Pacifica ETH	+0.0100%	1h	2,776.8	−0.061%	$31.2M	$278.8M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,776.5	−0.072%	$2.52B	$4.66B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,775.3	−0.115%	$2.9M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,778.2	−0.011%	$2.9M	$17.6M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,776.2	−0.083%	$426.0M	$747.4M	100x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,776.8	−0.061%	$15.4M	$42.4M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,779.2	+0.025%	$177.8M	$784.8M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,779.2	+0.026%	$161.6M	$98.1M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,779.3	+0.029%	$10.6M	$30.7M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,780.9	+0.087%	$21.5M	$57.4M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,777.2	−0.045%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,777.8	−0.025%	$10.8M	$8.0M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,775.6	−0.104%	$189K	$1.8M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,776.6	−0.069%	$21K	$25K	25x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,775.6	−0.104%	$974K	$14.4M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,775.7	−0.100%	$55.3M	$228.5M	40x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,775.9	−0.095%	$1.08B	$1.32B	200x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,778.8	+0.011%	$165.9M	$263.4M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,775.3	−0.116%	$31.7M	$76.8M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,777.6	−0.031%	$60.3M	$4.67B	50x	as long as short
Derive ETH-PERPlong	+0.0106%	1h	2,778.5	long leg	$43.1M	$30.0M	15x
Kalshi KXETHPERP	+0.0113%	8h	2,777.2	−0.047%	$8.5M	$669.1M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0121%	1h	2,777.8	−0.025%	$259.0M	$223.6M	50x	as long as short
Orderly PERP_ETH_USDC	+0.0124%	8h	2,778.8	+0.011%	$32.6M	$11.5M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0135%	1h	2,777.4	−0.040%	$88.6M	$333.8M	100x	as long as short
Hyperliquid ETH	+0.0151%	1h	2,779.1	+0.020%	$3.22B	$2.38B	25x	as long as short
BloFin ETH-USDT	+0.0167%	8h	2,775.7	−0.100%	$287.6M	$197.8M	150x	as long as short
Reya ETHRUSDPERP	+0.0200%	1h	2,775.6	−0.103%	$7.5M	$1.0M	25x	as long as short
Hibachi ETH/USDT-P	+0.0304%	1h	2,781.2	+0.097%	$274K	$1.6M	20x	as long as short