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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.019%
Price spread now: Phemex against dYdX−0.036%7-day average −0.023% · you buy dearer than you sell
Net, funding: paid 7d − costs−$50as in the Funding arb table
Net, price: spread back to 7d avg − costs−$33as in the Price arb table
costs, in and out, $10k−$320.320% of the position
Long on dYdXShort on Phemex
What this pair did over the last
the charts below follow
Funding, last 7 days−0.182%−$18 on $10k
Price spread, last 4 days (all we have)−0.002%$0 · spread now −0.036%, 7d avg −0.023%
Together, before fees−0.184%−$18 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.023%, 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 −0.182%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongdYdX ETH-USD2,732.90get 0.0000% / 1h45m 12s$10.5M$42.6M50x
ShortPhemex ETHUSDT2,7320.0100get 0.0100% / 8h45m 12s$263.3M$64.4M150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex 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
$20.91
Price spread: −0.036% → −0.023%
−$1.34
Slippage, 4 orders
−$9.99
Fee dYdX: 5 bp × 2 orders
−$10
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$12.43
Costs to cover
0.320%
Break-even
11.2 days
Slippage from dYdX: live order book, 4 min ago; Phemex: live order book, 4 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, 4 min ago4.94 bp9.9 bp −$1023.8 bp −$23832.6 bp −$3,26265.6 bp −$32.8K
Sell Phemex live order book, 4 min ago0.02 bp6.0 bp −$66.8 bp −$689.9 bp −$99014.4 bp −$7,224

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
BloFin ETH-USDT−0.0175%8h2,731.1−0.067%$281.2M$177.9M150xas long as short
Hotstuff ETH-PERP−0.0080%1h2,732−0.034%$5K$1K50xas long as short
Phoenix ETH−0.0015%1h2,730.5−0.089%$811K$3.0M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,731.9−0.037%$11.9M—200xas long as short
dYdX ETH-USDlong0.0000%1h2,732.9long leg$10.5M$42.6M50x
Kalshi KXETHPERP0.0000%8h2,732.2−0.027%$6.5M$680.5M4.9xas long as short
Perpl ETH0.0000%43m2,731.6−0.051%$286K$5.7M8.3xas long as short
Deribit ETH-PERPETUAL0.0000%1h2,732.3−0.022%$262.4M$211.9M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,731.8−0.042%$33.0M—200xas long as short
BingX ETH-USDC+0.0019%8h2,731.4−0.057%—$18.6M—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit ETHUSDT+0.0024%8h2,732.1−0.032%$2.33B$4.36B150xas long as short
HTX ETH-USDT+0.0029%8h2,730.7−0.081%$1.05B$1.22B200xas long as short
01 Exchange ETHUSD+0.0032%1h2,732.2−0.027%$191K$890K50xas long as short
ApeX Omni ETHUSDT+0.0045%1h2,732.1−0.032%$8.6M$31.6M100xas long as short
Injective ETH/USDC PERP+0.0050%1h2,732.8−0.005%$117K$20.2M52xas long as short
Kraken Futures PF_ETHUSD+0.0060%1h2,731.9−0.037%$82.0M$309.3M100xas long as short
KuCoin ETHUSDTM+0.0071%8h2,731.7−0.045%$385.1M$576.8M100xas long as short
Hibachi ETH/USDT-P+0.0072%1h2,733.2+0.011%$242K$1.4M20xas long as short
OKX ETH-USDT-SWAP+0.0075%8h2,732−0.034%$1.65B$10.85B100xas long as short
Aster ETHUSDT+0.0082%8h2,731.8−0.042%$253.0M$849.4M200xas long as short
MEXC ETH_USDT+0.0094%8h2,732−0.033%$1.56B$2.56B500xas long as short
Binance ETHUSDT+0.0094%8h2,732−0.033%$6.32B$16.14B150xas long as short
Lighter ETH+0.0096%1h2,732.1−0.032%$112.6M$429.4M50xas long as short
Lighter RH ETH+0.0096%1h2,733.3+0.012%$23.5M$101.9M50xas long as short
Aevo ETH-PERP+0.0096%1h2,729.2−0.138%$4.9M$181K20xas long as short
Phemex ETHUSDTshort+0.0100%8h2,732−0.036%$263.3M$64.4M150x
Katana Perps ETH-USD+0.0100%8h2,731.2−0.063%$500K$3.5M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,736+0.111%$15.4M$7.8M50xas long as short
Nado ETH-PERP+0.0100%1h2,731.3−0.061%$14.0M$104.9M50xas long as short
Hyperliquid ETH+0.0100%1h2,734.1+0.043%$3.11B$2.04B25xas long as short
Pacifica ETH+0.0100%1h2,732.4−0.021%$32.1M$333.6M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,731−0.071%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,732.3−0.024%$1.5M$15.9M25xas long as short
Bulk ETH-USD+0.0100%1h2,729.5−0.125%$162.7M$356.9M25xas long as short
Gate ETH_USDT+0.0100%8h2,731.7−0.047%$3.31B$8.85B200xas long as short
Bitget ETHUSDT+0.0100%8h2,732.2−0.029%$2.10B$2.77B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,732−0.036%$15.0M$41.2M50xas long as short
Variational Omni ETH+0.0100%8h2,731.6−0.048%$134.1M$318.3M—as long as short
edgeX ETHUSDC+0.0100%4h2,731.7−0.044%$185.7M$684.0M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,732.8−0.005%$158.8M$83.6M50xas long as short
StandX ETH-USD+0.0100%1h2,732.7−0.009%$21.0M$70.6M40xas long as short
Vest ETH-PERP+0.0100%1h2,733.3+0.015%—$445K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,732.8−0.005%$11.2M$9.4M50xas long as short
Bullet ETH-USD+0.0100%1h2,731.4−0.057%$185K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,732.2−0.026%$22K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,734.2+0.048%$41.0M$30.1M15xas long as short
SunX ETH-USDT+0.0100%8h2,731−0.072%$957K$10.9M100xas long as short
SoDEX ETH-USD+0.0100%1h2,731.1−0.067%$54.4M$187.1M40xas long as short
Aftermath Perps ETHUSD+0.0101%1h2,731.9−0.039%$30K$20K20xas long as short
Extended ETH-USD+0.0104%1h2,730.3−0.096%$30.4M$72.7M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0056%1h2,732.1−0.032%—$30.4M500xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,733.3+0.012%$46.6M$4.30B50xas long as short
RISEx ETH/USDC+0.0114%1h2,732.3−0.025%$5.6M$11.7M25xas long as short
Reya ETHRUSDPERP+0.0184%1h2,730.8−0.080%$7.3M$975K25xas long as short
Orderly PERP_ETH_USDC+0.0184%8h2,733.5+0.021%$32.2M$11.3M100xas long as short