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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 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%
Price spread now: Backpack against edgeX+0.081%7-day average +0.023% · you sell dearer than you buy
Net, funding: paid 7d − costs−$22as in the Funding arb table
Net, price: spread back to 7d avg − costs−$15as in the Price arb table
costs, in and out, $10k−$200.205% of the position
Long on edgeXShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 7 days−0.016%−$2 on $10k
Price spread, last 7 days−0.688%−$69 · spread now +0.081%, 7d avg +0.023%
Together, before fees−0.703%+ Points / potential airdropedgeX: Active · farm board−$70 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.058% dearer against edgeX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.023%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongedgeX ETHUSDC2,774.20.0100pay 0.0050% / 4h1h 02m$181.6M$781.0M100x
ShortBackpack ETH_USDC_PERP2,776.40.0100get 0.0013% / 1h2m 51s$15.1M$44.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against edgeX. 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
$0
Price spread: +0.081% → +0.023%
$5.78
Slippage, 4 orders
−$1.45
Fee edgeX: 4.5 bp × 2 orders
−$9
Fee Backpack: 5 bp × 2 orders
−$10
Net
−$14.67
Costs to cover
0.205%
Break-even
never at this rate
Slippage from edgeX: live order book, 1 min ago; Backpack: live order book, 1 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 edgeX live order book, 1 min ago0.25 bp5.3 bp −$55.3 bp −$535.5 bp −$5476.9 bp −$3,434
Sell Backpack live order book, 1 min ago0.02 bp5.4 bp −$57.1 bp −$7128.9 bp −$2,892doesn't fit

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
Perpl ETH−0.0447%43m2,777.3+0.113%$288K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,777.6+0.122%$5.7M$11.9M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,777.3+0.112%$5K$2K50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,771.7−0.090%$119K$22.5M52xas long as short
01 Exchange ETHUSD−0.0040%1h2,777.4+0.115%$169K$1.2M50xas long as short
dYdX ETH-USD0.0000%1h2,778.6+0.158%$12.7M$45.7M50xas long as short
Phoenix ETH0.0000%1h2,775.6+0.051%$885K$3.7M25xas long as short
Aftermath Perps ETHUSD+0.0003%1h2,775.3+0.041%$29K$22K20xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,777.4+0.114%$22.4M—200xas long as short
OKX ETH-USDT-SWAP+0.0017%8h2,776.4+0.080%$1.70B$11.87B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phemex ETHUSDT+0.0022%8h2,776.9+0.096%$270.5M$68.8M150xas long as short
Bullet ETH-USD+0.0023%1h2,776.4+0.079%$183K$1.7M20xas long as short
GMX ETH/USD [ETH-USDC]L +0.0027% / S +0.0009%1h2,777.2+0.109%$12.9M—200xas long as short
Aster ETHUSDT+0.0032%8h2,776.4+0.080%$255.9M$995.2M200xas long as short
ApeX Omni ETHUSDT+0.0047%1h2,770.8−0.123%$8.7M$32.6M100xas long as short
Nado ETH-PERP+0.0055%1h2,776.9+0.099%$14.3M$118.2M50xas long as short
Aevo ETH-PERP+0.0056%1h2,774.5+0.009%$5.0M$636K20xas long as short
MEXC ETH_USDT+0.0059%8h2,776.4+0.080%$1.60B$2.68B500xas long as short
Binance ETHUSDT+0.0060%8h2,776.3+0.074%$6.44B$17.23B150xas long as short
SoDEX ETH-USD+0.0062%1h2,776.5+0.083%$55.3M$229.0M40xas long as short
Bitget ETHUSDT+0.0066%8h2,776.3+0.074%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0073%8h2,776.3+0.077%$3.30B$9.69B200xas long as short
HTX ETH-USDT+0.0088%8h2,776.6+0.086%$1.08B$1.32B200xas long as short
Bybit ETHUSDT+0.0092%8h2,776.5+0.084%$2.52B$4.62B150xas long as short
BingX ETH-USDC+0.0092%8h2,776.1+0.067%—$17.4M—as long as short
Deribit ETH-PERPETUAL+0.0092%1h2,778.3+0.149%$258.7M$222.7M50xas long as short
KuCoin ETHUSDTM+0.0095%8h2,776.3+0.076%$422.2M$739.3M100xas long as short
Lighter ETH+0.0096%1h2,776.7+0.091%$115.2M$503.5M50xas long as short
Lighter RH ETH+0.0096%1h2,778.3+0.147%$25.5M$122.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,777.8+0.129%—$41.6M500xas long as short
Vest ETH-PERP+0.0098%1h2,777.2+0.110%—$1.1M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,778+0.136%$16.0M$10.5M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,777.4+0.115%$477K$2.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,779.1+0.177%$3.19B$2.35B25xas long as short
Pacifica ETH+0.0100%1h2,778.1+0.142%$31.2M$303.9M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,777.2+0.108%$2.8M$17.1M25xas long as short
Arcus ETH-USD+0.0100%1h2,779.2+0.180%$2.7M$17.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,770.8−0.122%$166.1M$253.0M25xas long as short
Backpack ETH_USDC_PERPshort+0.0100%1h2,776.4+0.081%$15.1M$44.2M50x
Variational Omni ETH+0.0100%8h2,773.7−0.018%$147.3M$337.0M—as long as short
edgeX ETHUSDClong+0.0100%4h2,774.2long leg$181.6M$781.0M100x
GRVT ETH_USDT_Perp+0.0100%8h2,775.7+0.054%$161.4M$90.8M50xas long as short
StandX ETH-USD+0.0100%1h2,776.9+0.097%$21.4M$58.2M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,777.8+0.130%$10.8M$7.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,777.3+0.111%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,778.9+0.169%$42.8M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,776.6+0.087%$973K$14.0M100xas long as short
Extended ETH-USD+0.0104%1h2,775.9+0.062%$32.6M$77.5M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,778+0.136%$59.9M$4.61B50xas long as short
Kalshi KXETHPERP+0.0127%8h2,778+0.137%$8.4M$681.5M4.9xas long as short
Orderly PERP_ETH_USDC+0.0135%8h2,779.4+0.187%$32.6M$12.0M100xas long as short
Kraken Futures PF_ETHUSD+0.0169%1h2,777.8+0.131%$86.4M$332.5M100xas long as short
BloFin ETH-USDT+0.0180%8h2,776.5+0.084%$284.8M$194.9M150xas long as short
Reya ETHRUSDPERP+0.0195%1h2,776.5+0.083%$7.4M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0280%1h2,778.1+0.141%$270K$1.5M20xas long as short