ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0353%/8h= +38.7% APRnext payment +$0.44 per $10,000 · paid last 24h −0.020%

Price spread now: Kraken Futures against dYdX+0.017%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$260.259% of the position

Long on dYdX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.056%−$6 on $10k

Price spread, last 3 days (all we have)−0.025%−$2 · spread now +0.017%, 7d avg −0.011%

Together, before fees−0.080%−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Kraken Futures is 0.029% dearer against dYdX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.011%. Mind the row above: over the last 7 days funding on this pair cost −0.056%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.056% in total (about -2.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.44 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ETH-USD	2,753.5	0	get 0.0000% / 1h	49m 38s	$10.9M	$41.9M	50x
Short	Kraken Futures PF_ETHUSD	2,754	0.0353	get 0.0044% / 1h	49m 38s	$93.2M	$316.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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

Position, each leg$Hold fordaysFee dYdXbpFee Kraken FuturesbpOrdersPrice spread, now +0.017%Rate

Funding earned: $74.2
Price spread: +0.017% → −0.011%: $2.85
Slippage, 4 orders: −$5.92
Fee dYdX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $51.13
Costs to cover: 0.259%
Break-even: 2.2 days

Slippage from dYdX: live order book, 5 min ago; Kraken Futures: live order book, 5 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 dYdX live order book, 5 min ago	2.19 bp	7.2 bp −$7	8.4 bp −$84	10.9 bp −$1,091	34.5 bp −$17.2K
Sell Kraken Futures live order book, 5 min ago	0.18 bp	5.7 bp −$6	6.6 bp −$66	8.2 bp −$821	12.5 bp −$6,266

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	2,753.3	−0.007%	$319K	$6.2M	8.3x	as long as short
ApeX Omni ETHUSDT	−0.0323%	1h	2,750	−0.128%	$8.8M	$31.6M	100x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,749.7	−0.137%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,753.9	+0.016%	$5.5M	$11.3M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,752.1	−0.050%	$12.0M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,749.5	−0.145%	$863K	$3.1M	25x	as long as short
dYdX ETH-USDlong	0.0000%	1h	2,753.5	long leg	$10.9M	$41.9M	50x
01 Exchange ETHUSD	0.0000%	1h	2,754.3	+0.030%	$181K	$1.1M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,752.1	−0.050%	$22.2M	—	200x	as long as short
BingX ETH-USDC	+0.0027%	8h	2,753.4	−0.005%	—	$17.4M	—	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	+0.0035%	8h	2,754.3	+0.029%	$1.68B	$11.10B	100x	as long as short
HTX ETH-USDT	+0.0049%	8h	2,752.1	−0.050%	$1.07B	$1.23B	200x	as long as short
Aster ETHUSDT	+0.0049%	8h	2,753.9	+0.015%	$256.2M	$855.6M	200x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,750.6	−0.103%	$4.9M	$165K	20x	as long as short
MEXC ETH_USDT	+0.0059%	8h	2,753.8	+0.010%	$1.58B	$2.53B	500x	as long as short
Binance ETHUSDT	+0.0060%	8h	2,753.4	−0.002%	$6.36B	$16.32B	150x	as long as short
Gate ETH_USDT	+0.0068%	8h	2,754.2	+0.026%	$3.33B	$8.73B	200x	as long as short
KuCoin ETHUSDTM	+0.0081%	8h	2,754	+0.018%	$385.5M	$606.6M	100x	as long as short
Bitget ETHUSDT	+0.0084%	8h	2,753.6	+0.005%	$2.08B	$2.86B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,753.5	+0.001%	$59.6M	$4.40B	50x	as long as short
Deribit ETH-PERPETUAL	+0.0095%	1h	2,754.1	+0.021%	$258.8M	$202.4M	50x	as long as short
Aftermath Perps ETHUSD	+0.0096%	1h	2,750.8	−0.098%	$30K	$21K	20x	as long as short
Lighter ETH	+0.0096%	1h	2,753.4	−0.005%	$113.4M	$439.1M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,754.6	+0.041%	$25.1M	$106.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,752.2	−0.048%	—	$35.6M	500x	as long as short
Variational Omni ETH	+0.0097%	8h	2,750.3	−0.116%	$133.4M	$346.5M	—	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,756.6	+0.114%	$15.9M	$8.2M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,753.1	−0.014%	$469K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,753	−0.018%	$14.0M	$113.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,756.5	+0.110%	$3.13B	$2.14B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,753.9	+0.016%	$31.6M	$333.7M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,754.2	+0.026%	$2.47B	$4.36B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,753.3	−0.007%	$2.8M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,754.3	+0.030%	$2.8M	$16.8M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,752.6	−0.031%	$169.2M	$297.0M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,753	−0.019%	$15.0M	$42.4M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,743.2	−0.372%	$183.8M	$733.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,747.1	−0.232%	$159.8M	$82.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,750.2	−0.119%	$21.3M	$66.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,752.3	−0.041%	—	$871K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,752.1	−0.050%	$10.4M	$8.0M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,751.7	−0.065%	$183K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,752.3	−0.043%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,754.5	+0.035%	$42.0M	$29.0M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,752.2	−0.047%	$964K	$12.7M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,752.7	−0.028%	$54.8M	$187.6M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,753	−0.016%	$267.7M	$66.2M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,753.1	−0.014%	$30.6M	$74.7M	50x	as long as short
Kalshi KXETHPERP	+0.0132%	8h	2,752.9	−0.021%	$7.7M	$671.3M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0160%	8h	2,755.1	+0.058%	$32.4M	$11.2M	100x	as long as short
Hibachi ETH/USDT-P	+0.0168%	1h	2,750	−0.125%	$250K	$1.5M	20x	as long as short
BloFin ETH-USDT	+0.0178%	8h	2,751.2	−0.083%	$286.2M	$179.0M	150x	as long as short
Injective ETH/USDC PERP	+0.0209%	1h	2,749.9	−0.130%	$118K	$22.5M	52x	as long as short
Reya ETHRUSDPERP	+0.0217%	1h	2,751.5	−0.073%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSDshort	+0.0353%	1h	2,754	+0.017%	$93.2M	$316.2M	100x