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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 01:00 UTC−0.0106%/8h= −11.6% APRpaid last 24h −0.014%
Price spread now: Phoenix against edgeX+0.074%7-day average +0.125% · 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−$24as in the Price arb table
costs, in and out, $10k−$180.185% of the position
Long on edgeXShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days−0.034%−$3 on $10k
Price spread, last 7 days+0.033%+$3 · spread now +0.074%, 7d avg +0.125%
Together, before fees−0.001%+ Points / potential airdropedgeX: Active · farm board$0 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phoenix is 0.050% cheaper against edgeX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.125%). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongedgeX ETHUSDC2,744.40.0100pay 0.0050% / 4h2h 33m$181.5M$729.2M100x
ShortPhoenix ETH2,746.4−0.0006pay 0.0001% / 1h33m 00s$848K$3.1M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix 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
−$22.22
Price spread: +0.074% → +0.125%
−$5.04
Slippage, 4 orders
−$2.48
Fee edgeX: 4.5 bp × 2 orders
−$9
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$45.74
Costs to cover
0.185%
Break-even
never at this rate
Slippage from edgeX: live order book, 1 min ago; Phoenix: live order book, 6 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 ago0.07 bp5.1 bp −$55.1 bp −$515.5 bp −$5467.6 bp −$3,793
Sell Phoenix live order book, 6 min ago0.18 bp4.3 bp −$47.9 bp −$7918.2 bp −$1,817doesn't fit

ETH on 54 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%43m2,745.8+0.052%$310K$6.0M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,748.2+0.140%$5K$1K50xas long as short
RISEx ETH/USDC−0.0071%1h2,744.8+0.016%$5.5M$11.2M25xas long as short
ApeX Omni ETHUSDT−0.0042%1h2,744.9+0.021%$8.7M$31.8M100xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,746.1+0.064%$11.9M—200xas long as short
Phoenix ETHshort−0.0006%1h2,746.4+0.074%$848K$3.1M25x
dYdX ETH-USD0.0000%1h2,745.8+0.053%$10.8M$42.0M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,746.3+0.069%$22.2M—200xas long as short
01 Exchange ETHUSD+0.0016%1h2,745.3+0.034%$180K$1.1M50xas long as short
BingX ETH-USDC+0.0032%8h2,745.1+0.028%—$17.3M—as long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0042%8h2,747.6+0.119%$1.69B$11.08B100xas long as short
HTX ETH-USDT+0.0042%8h2,745.1+0.025%$1.06B$1.22B200xas long as short
Aster ETHUSDT+0.0061%8h2,746.6+0.082%$253.4M$863.0M200xas long as short
Deribit ETH-PERPETUAL+0.0067%1h2,746.6+0.080%$258.5M$202.0M50xas long as short
MEXC ETH_USDT+0.0070%8h2,745.1+0.028%$1.56B$2.56B500xas long as short
Binance ETHUSDT+0.0072%8h2,746.3+0.069%$6.35B$16.34B150xas long as short
Aevo ETH-PERP+0.0072%1h2,743.7−0.023%$4.9M$168K20xas long as short
KuCoin ETHUSDTM+0.0073%8h2,745+0.023%$381.1M$608.1M100xas long as short
Gate ETH_USDT+0.0080%8h2,745.3+0.036%$3.39B$8.85B200xas long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,746.2+0.067%$58.8M$4.38B50xas long as short
Bitget ETHUSDT+0.0089%8h2,746.2+0.068%$2.07B$2.86B150xas long as short
Lighter ETH+0.0096%1h2,745.3+0.033%$112.7M$442.0M50xas long as short
Lighter RH ETH+0.0096%1h2,746.5+0.078%$24.8M$106.8M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,745.9+0.056%—$35.5M500xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,749.5+0.187%$15.9M$8.2M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,743.8−0.021%$467K$2.9M50xas long as short
Nado ETH-PERP+0.0100%1h2,745.8+0.054%$14.0M$113.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,747.2+0.105%$3.13B$2.12B25xas long as short
Pacifica ETH+0.0100%1h2,745.5+0.041%$31.5M$333.7M50xas long as short
Bybit ETHUSDT+0.0100%8h2,747.4+0.112%$2.46B$4.35B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,743.6−0.028%$2.8M$16.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,745.1+0.028%$2.8M$16.7M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,744.6+0.010%$15.0M$41.8M50xas long as short
Variational Omni ETH+0.0100%8h2,744.6+0.007%$133.0M$346.7M—as long as short
edgeX ETHUSDClong+0.0100%4h2,744.4long leg$181.5M$729.2M100x
GRVT ETH_USDT_Perp+0.0100%8h2,745.5+0.041%$159.7M$84.8M50xas long as short
StandX ETH-USD+0.0100%1h2,745+0.023%$21.2M$67.3M40xas long as short
Vest ETH-PERP+0.0100%1h2,747.1+0.099%—$870K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,745.2+0.030%$10.3M$8.0M50xas long as short
Bullet ETH-USD+0.0100%1h2,745.8+0.051%$183K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,746.2+0.068%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,747.3+0.105%$41.7M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,744.9+0.018%$963K$12.5M100xas long as short
SoDEX ETH-USD+0.0100%1h2,745.6+0.045%$54.7M$187.6M40xas long as short
Phemex ETHUSDT+0.0100%8h2,744.7+0.014%$266.8M$66.5M150xas long as short
Bulk ETH-USD+0.0100%1h2,743.9−0.016%$165.5M$306.7M25xas long as short
Aftermath Perps ETHUSD+0.0102%1h2,746+0.060%$30K$21K20xas long as short
Extended ETH-USD+0.0104%1h2,745.1+0.027%$30.4M$74.9M50xas long as short
Kalshi KXETHPERP+0.0137%8h2,746.5+0.078%$7.8M$674.0M4.9xas long as short
Orderly PERP_ETH_USDC+0.0167%8h2,748.3+0.143%$32.3M$11.2M100xas long as short
Hibachi ETH/USDT-P+0.0192%1h2,748.4+0.147%$250K$1.5M20xas long as short
Injective ETH/USDC PERP+0.0209%1h2,746.7+0.085%$118K$22.5M52xas long as short
Reya ETHRUSDPERP+0.0219%1h2,745.5+0.040%$7.3M$1.1M25xas long as short
Kraken Futures PF_ETHUSD+0.0354%1h2,745.7+0.050%$89.9M$317.5M100xas long as short