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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 04:00 UTC−0.0039%/8h= −4.3% APRpaid last 24h −0.015%
Price spread now: Phemex against edgeX+0.033%7-day average +0.020% · you sell dearer than you buy
Net, funding: paid 7d − costs−$36as in the Funding arb table
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$230.230% of the position
Long on edgeXShort on Phemex
What this pair did over the last
the charts below follow
Funding, last 7 days−0.127%−$13 on $10k
Price spread, last 4 days (all we have)−0.148%−$15 · spread now +0.033%, 7d avg +0.020%
Together, before fees−0.275%+ Points / potential airdropedgeX: Active · farm board−$27 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.020%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongedgeX ETHUSDC2,736.50.0100pay 0.0050% / 4h29m 01s$184.1M$672.4M100x
ShortPhemex ETHUSDT2,737.40.0061get 0.0061% / 8h4h 29m$266.2M$65.6M150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex 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
−$8.25
Price spread: +0.033% → +0.020%
$1.29
Slippage, 4 orders
−$1.98
Fee edgeX: 4.5 bp × 2 orders
−$9
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$29.93
Costs to cover
0.230%
Break-even
never at this rate
Slippage from edgeX: live order book, 5 min ago; Phemex: live order book, 5 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, 5 min ago0.04 bp4.5 bp −$54.5 bp −$454.7 bp −$4676.3 bp −$3,127
Sell Phemex live order book, 5 min ago0.02 bp7.0 bp −$710.7 bp −$10715.6 bp −$1,56319.6 bp −$9,808

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%43m2,738.2+0.060%$298K$5.6M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,730.9−0.205%$117K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,738.3+0.066%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,738.3+0.065%$12.0M—200xas long as short
dYdX ETH-USD0.0000%1h2,739+0.092%$10.8M$41.6M50xas long as short
01 Exchange ETHUSD0.0000%1h2,737.8+0.047%$188K$822K50xas long as short
Phoenix ETH0.0000%1h2,738.5+0.073%$831K$2.9M25xas long as short
Bullet ETH-USD+0.0006%1h2,738+0.056%$179K$1.7M20xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,738.3+0.067%$28.1M—200xas long as short
ApeX Omni ETHUSDT+0.0036%1h2,732.9−0.131%$8.7M$31.3M100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0056%8h2,736.4−0.003%—$18.5M—as long as short
Phemex ETHUSDTshort+0.0061%8h2,737.4+0.033%$266.2M$65.6M150x
HTX ETH-USDT+0.0062%8h2,737+0.018%$1.06B$1.20B200xas long as short
KuCoin ETHUSDTM+0.0066%8h2,737.7+0.043%$380.5M$575.0M100xas long as short
Bybit ETHUSDT+0.0069%8h2,734.6−0.071%$2.39B$4.35B150xas long as short
OKX ETH-USDT-SWAP+0.0069%8h2,735−0.054%$1.67B$10.72B100xas long as short
SoDEX ETH-USD+0.0078%1h2,737.6+0.040%$54.5M$187.6M40xas long as short
Deribit ETH-PERPETUAL+0.0079%1h2,739+0.092%$260.2M$196.1M50xas long as short
Aster ETHUSDT+0.0087%8h2,738+0.054%$251.2M$843.7M200xas long as short
Aevo ETH-PERP+0.0088%1h2,735.4−0.040%$4.9M$155K20xas long as short
MEXC ETH_USDT+0.0090%8h2,736.6+0.004%$1.53B$2.56B500xas long as short
Binance ETHUSDT+0.0093%8h2,735.8−0.025%$6.35B$15.87B150xas long as short
Lighter ETH+0.0096%1h2,737.6+0.040%$113.2M$438.7M50xas long as short
Lighter RH ETH+0.0096%1h2,739.3+0.101%$23.4M$106.1M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,738+0.055%—$30.9M500xas long as short
Paradex ETH-USD-PERP+0.0098%8h2,742.9+0.235%$15.5M$8.0M50xas long as short
RISEx ETH/USDC+0.0099%1h2,738+0.055%$5.6M$11.6M25xas long as short
Katana Perps ETH-USD+0.0100%8h2,737.4+0.033%$500K$3.2M50xas long as short
Nado ETH-PERP+0.0100%1h2,737.7+0.044%$13.8M$104.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,738.3+0.066%$3.11B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,738.6+0.077%$31.9M$334.7M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,738.2+0.062%$2.7M$17.0M25xas long as short
Arcus ETH-USD+0.0100%1h2,738.2+0.062%$1.6M$16.2M25xas long as short
Bulk ETH-USD+0.0100%1h2,728.7−0.286%$166.6M$310.3M25xas long as short
Gate ETH_USDT+0.0100%8h2,736−0.018%$3.34B$8.88B200xas long as short
Bitget ETHUSDT+0.0100%8h2,736−0.018%$2.07B$2.74B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,735.9−0.024%$15.0M$39.6M50xas long as short
Variational Omni ETH+0.0100%8h2,736.1−0.015%$133.6M$325.4M—as long as short
edgeX ETHUSDClong+0.0100%4h2,736.5long leg$184.1M$672.4M100x
GRVT ETH_USDT_Perp+0.0100%8h2,737.2+0.025%$159.2M$86.8M50xas long as short
StandX ETH-USD+0.0100%1h2,737.2+0.025%$21.1M$68.5M40xas long as short
Vest ETH-PERP+0.0100%1h2,738.9+0.088%—$843K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,739.7+0.117%$11.2M$9.1M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,738.4+0.069%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,739.5+0.109%$41.4M$29.8M15xas long as short
SunX ETH-USDT+0.0100%8h2,737.2+0.024%$959K$11.4M100xas long as short
Extended ETH-USD+0.0104%1h2,736.9+0.013%$30.3M$72.6M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,738.8+0.084%$51.5M$4.28B50xas long as short
Aftermath Perps ETHUSD+0.0124%1h2,735.3−0.043%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0144%8h2,738.6+0.077%$6.6M$678.1M4.9xas long as short
Orderly PERP_ETH_USDC+0.0193%8h2,740.4+0.142%$32.2M$11.5M100xas long as short
Reya ETHRUSDPERP+0.0221%1h2,737.4+0.033%$7.3M$1.2M25xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,738.3+0.065%$83.5M$314.8M100xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,739.3+0.100%$254K$1.4M20xas long as short
BloFin ETH-USDT+0.0371%8h2,737.3+0.029%$282.5M$175.6M150xas long as short