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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 02:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h −0.022%
Price spread now: Backpack against dYdX+0.023%7-day average +0.012% · you sell dearer than you buy
Net, funding: paid 7d − costs−$35as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$280.280% of the position
Long on dYdXShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 7 days−0.074%−$7 on $10k
Price spread, last 7 days−0.526%−$53 · spread now +0.023%, 7d avg +0.012%
Together, before fees−0.600%−$60 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.012%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.074%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongdYdX ETH-USD2,745.20get 0.0000% / 1h11m 32s$10.8M$42.1M50x
ShortBackpack ETH_USDC_PERP2,745.90.0100get 0.0013% / 1h11m 32s$15.0M$41.7M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against dYdX. 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

Funding earned
$21
Price spread: +0.023% → +0.012%
$1.14
Slippage, 4 orders
−$8.04
Fee dYdX: 5 bp × 2 orders
−$10
Fee Backpack: 5 bp × 2 orders
−$10
Net
−$5.9
Costs to cover
0.280%
Break-even
9.0 days
Slippage from dYdX: live order book, 3 min ago; Backpack: live order book, 3 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 dYdX live order book, 3 min ago4.00 bp9.0 bp −$99.3 bp −$9317.9 bp −$1,79051.7 bp −$25.9K
Sell Backpack live order book, 3 min ago0.02 bp5.0 bp −$56.2 bp −$6229.4 bp −$2,945doesn't fit

ETH on 54 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
Perpl ETH−0.0112%43m2,746.8+0.056%$310K$5.9M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,746.1+0.031%$5K$1K50xas long as short
RISEx ETH/USDC−0.0071%1h2,745.1−0.003%$5.7M$11.4M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0009% / S +0.0043%1h2,747+0.063%$12.2M—200xas long as short
Phoenix ETH−0.0006%1h2,748.5+0.119%$848K$3.1M25xas long as short
dYdX ETH-USDlong0.0000%1h2,745.2long leg$10.8M$42.1M50x
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,747.3+0.074%$22.2M—200xas long as short
BingX ETH-USDC+0.0038%8h2,744.8−0.016%—$18.5M—as long as short
01 Exchange ETHUSD+0.0040%1h2,746+0.028%$182K$1.1M50xas long as short
OKX ETH-USDT-SWAP+0.0051%8h2,745−0.009%$1.69B$10.92B100xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
ApeX Omni ETHUSDT+0.0062%1h2,748+0.101%$8.8M$31.5M100xas long as short
HTX ETH-USDT+0.0066%8h2,746.6+0.049%$1.06B$1.20B200xas long as short
KuCoin ETHUSDTM+0.0067%8h2,745.6+0.012%$371.2M$609.4M100xas long as short
Aster ETHUSDT+0.0070%8h2,745.6+0.013%$253.6M$858.2M200xas long as short
Aevo ETH-PERP+0.0080%1h2,745.1−0.006%$4.9M$168K20xas long as short
MEXC ETH_USDT+0.0081%8h2,744.8−0.015%$1.57B$2.57B500xas long as short
Binance ETHUSDT+0.0082%8h2,744.9−0.014%$6.38B$16.20B150xas long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,747.4+0.077%$58.7M$4.33B50xas long as short
Gate ETH_USDT+0.0090%8h2,744.8−0.016%$3.39B$8.93B200xas long as short
Aftermath Perps ETHUSD+0.0096%1h2,748.5+0.119%$30K$20K20xas long as short
Lighter ETH+0.0096%1h2,745.4+0.004%$112.9M$444.5M50xas long as short
Lighter RH ETH+0.0096%1h2,747.1+0.069%$24.8M$107.8M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,747+0.062%—$35.6M500xas long as short
Bitget ETHUSDT+0.0098%8h2,744.7−0.019%$2.08B$2.83B150xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,749.3+0.147%$16.3M$8.1M50xas long as short
Bullet ETH-USD+0.0100%1h2,746.6+0.050%$182K$1.7M20xas long as short
Katana Perps ETH-USD+0.0100%8h2,744.4−0.031%$477K$2.9M50xas long as short
Nado ETH-PERP+0.0100%1h2,744.8−0.018%$14.0M$112.2M50xas long as short
Hyperliquid ETH+0.0100%1h2,747.5+0.084%$3.13B$2.11B25xas long as short
Pacifica ETH+0.0100%1h2,745.6+0.013%$31.7M$334.3M50xas long as short
Bybit ETHUSDT+0.0100%8h2,745.1−0.004%$2.46B$4.31B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,744.8−0.016%$2.7M$17.0M25xas long as short
Arcus ETH-USD+0.0100%1h2,745.5+0.010%$2.8M$16.4M25xas long as short
Backpack ETH_USDC_PERPshort+0.0100%1h2,745.9+0.023%$15.0M$41.7M50x
Variational Omni ETH+0.0100%8h2,747.1+0.067%$133.1M$345.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,746.2+0.036%$181.6M$705.1M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,747.1+0.069%$159.8M$82.9M50xas long as short
StandX ETH-USD+0.0100%1h2,747.8+0.093%$21.3M$69.2M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,747.2+0.071%$10.7M$8.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,747.1+0.068%$21K$21K25xas long as short
Derive ETH-PERP+0.0100%1h2,748.2+0.109%$41.7M$29.5M15xas long as short
SunX ETH-USDT+0.0100%8h2,746.8+0.058%$963K$12.3M100xas long as short
SoDEX ETH-USD+0.0100%1h2,746.3+0.039%$54.7M$187.7M40xas long as short
Phemex ETHUSDT+0.0100%8h2,746.5+0.046%$267.3M$66.1M150xas long as short
Bulk ETH-USD+0.0100%1h2,747.7+0.088%$164.0M$301.0M25xas long as short
Vest ETH-PERP+0.0100%1h2,747.7+0.090%—$865K50xas long as short
Extended ETH-USD+0.0104%1h2,743.9−0.050%$30.5M$73.4M50xas long as short
Kalshi KXETHPERP+0.0146%8h2,747.5+0.082%$7.7M$672.7M4.9xas long as short
Orderly PERP_ETH_USDC+0.0175%8h2,749.4+0.152%$32.3M$11.2M100xas long as short
Deribit ETH-PERPETUAL+0.0176%1h2,747.9+0.095%$258.6M$200.0M50xas long as short
Injective ETH/USDC PERP+0.0209%1h2,746.5+0.046%$118K$22.5M52xas long as short
Hibachi ETH/USDT-P+0.0216%1h2,748.1+0.106%$250K$1.5M20xas long as short
Reya ETHRUSDPERP+0.0222%1h2,746.4+0.043%$7.3M$1.1M25xas long as short
Kraken Futures PF_ETHUSD+0.0354%1h2,747+0.064%$88.6M$317.0M100xas long as short