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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h −0.013%
Price spread now: Derive against dYdX−0.026%7-day average +0.037% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on dYdXShort on Derive
What this pair did over the last
the charts below follow
Funding, last 7 days−0.025%−$2 on $10k
Price spread, last 3 days (all we have)+0.066%+$7 · spread now −0.026%, 7d avg +0.037%
Together, before fees+0.041%+$4 on $10k · with fees, hour by hour
Funding pays, the price is against you. Derive is 0.064% cheaper against dYdX than usual: you would sell low and buy high (spread −0.026% now, against its 7-day average of +0.037%). If the spread goes back, that is −$6 on $10k: about 2.1 days of funding at the current rate (+$3 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongdYdX ETH-USD2,767.80get 0.0000% / 1h19m 12s$12.2M$43.2M50x
ShortDerive ETH-PERP2,767.10.0100get 0.0013% / 1h19m 12s$42.5M$28.9M15x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Derive 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: −0.026% → +0.037%
−$6.36
Slippage, 4 orders
no order book: not counted
Fee dYdX: 5 bp × 2 orders
−$10
Fee Derive: 3 bp × 2 orders
−$6
Net
−$1.36
Costs to cover
0.160%
Break-even
7.5 days
Slippage unknown: dYdX: live order book, 5 min ago; Derive: 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
LegHalf-spread$10k$100k$1M$5M
Buy dYdX live order book, 5 min ago1.62 bp6.6 bp −$78.0 bp −$8010.5 bp −$1,04733.4 bp −$16.7K
Sell Derive no order-book sample—————
Derive: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective ETH/USDC PERP−0.0752%1h2,776.9+0.328%$119K$22.5M52xas long as short
RISEx ETH/USDC−0.0128%1h2,766.7−0.040%$5.6M$11.2M25xas long as short
Perpl ETH−0.0112%43m2,767.1−0.027%$326K$6.2M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,767.2−0.022%$5K$1K50xas long as short
01 Exchange ETHUSD−0.0032%1h2,767.1−0.026%$169K$1.1M50xas long as short
Phoenix ETH−0.0003%1h2,772+0.151%$873K$3.7M25xas long as short
dYdX ETH-USDlong0.0000%1h2,767.8long leg$12.2M$43.2M50x
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,767.2−0.022%$22.4M—200xas long as short
Bullet ETH-USD+0.0019%1h2,766.7−0.040%$184K$1.7M20xas long as short
OKX ETH-USDT-SWAP+0.0028%8h2,763.8−0.146%$1.70B$11.12B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX ETH-USD+0.0028%1h2,763.7−0.149%$55.0M$188.0M40xas long as short
GMX ETH/USD [ETH-USDC]L +0.0043% / S −0.0009%1h2,767.4−0.016%$12.7M—200xas long as short
Aster ETHUSDT+0.0047%8h2,767.1−0.026%$255.9M$885.7M200xas long as short
Gate ETH_USDT+0.0056%8h2,767.1−0.025%$3.37B$9.05B200xas long as short
Aevo ETH-PERP+0.0056%1h2,764.6−0.118%$5.0M$165K20xas long as short
MEXC ETH_USDT+0.0059%8h2,767.5−0.013%$1.61B$2.65B500xas long as short
Binance ETHUSDT+0.0060%8h2,763.2−0.168%$6.46B$16.26B150xas long as short
Deribit ETH-PERPETUAL+0.0061%1h2,765.2−0.095%$259.1M$204.5M50xas long as short
Aftermath Perps ETHUSD+0.0072%1h2,771.1+0.118%$31K$21K20xas long as short
Bitget ETHUSDT+0.0075%8h2,764.2−0.130%$2.09B$2.87B150xas long as short
Coinbase International ETH-PERP-INTX+0.0080%1h2,765−0.104%$60.2M$4.41B50xas long as short
Vest ETH-PERP+0.0082%1h2,767.80.000%—$876K50xas long as short
KuCoin ETHUSDTM+0.0085%8h2,766.9−0.032%$420.4M$619.7M100xas long as short
HTX ETH-USDT+0.0088%8h2,762.4−0.198%$1.07B$1.25B200xas long as short
Lighter ETH+0.0096%1h2,763.9−0.142%$114.7M$458.7M50xas long as short
Lighter RH ETH+0.0096%1h2,765.5−0.083%$25.5M$111.7M50xas long as short
ApeX Omni ETHUSDT+0.0098%1h2,768.2+0.013%$8.7M$32.1M100xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,769.1+0.045%$15.9M$8.6M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,766.9−0.033%$488K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,766.1−0.064%$14.6M$113.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,770.2+0.086%$3.17B$2.18B25xas long as short
Pacifica ETH+0.0100%1h2,767.6−0.008%$31.2M$328.0M50xas long as short
Bybit ETHUSDT+0.0100%8h2,763.8−0.145%$2.51B$4.32B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,766.1−0.062%$2.8M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,767.3−0.019%$2.8M$16.8M25xas long as short
Bulk ETH-USD+0.0100%1h2,772.8+0.182%$170.3M$276.6M25xas long as short
BingX ETH-USDT+0.0100%8h2,766.8−0.036%—$1.21B—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,767.6−0.010%$15.1M$42.1M50xas long as short
Variational Omni ETH+0.0100%8h2,768.5+0.026%$137.0M$344.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,768.1+0.010%$181.7M$785.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,768.8+0.034%$161.1M$85.1M50xas long as short
StandX ETH-USD+0.0100%1h2,767.8−0.001%$21.4M$64.0M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,767.6−0.008%$10.5M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,766.4−0.051%$21K$22K25xas long as short
Derive ETH-PERPshort+0.0100%1h2,767.1−0.026%$42.5M$28.9M15x
SunX ETH-USDT+0.0100%8h2,766.3−0.055%$969K$13.1M100xas long as short
Phemex ETHUSDT+0.0100%8h2,763.8−0.145%$269.0M$67.4M150xas long as short
Extended ETH-USD+0.0104%1h2,765.1−0.098%$30.9M$74.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,769+0.044%—$36.1M500xas long as short
Kalshi KXETHPERP+0.0109%8h2,767.4−0.015%$8.1M$678.7M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0134%1h2,765.4−0.086%$97.7M$320.7M100xas long as short
Hibachi ETH/USDT-P+0.0152%1h2,769.3+0.052%$252K$1.5M20xas long as short
Orderly PERP_ETH_USDC+0.0154%8h2,768.6+0.030%$32.6M$11.1M100xas long as short
BloFin ETH-USDT+0.0180%8h2,763.6−0.154%$287.3M$178.3M150xas long as short
Reya ETHRUSDPERP+0.0213%1h2,767.6−0.007%$7.3M$1.1M25xas long as short