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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 02:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h −0.001%
Price spread now: Backpack against Extended+0.028%7-day average +0.049% · you sell dearer than you buy
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$17as in the Price arb table
costs, in and out, $10k−$150.154% of the position
Long on ExtendedShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 7 days+0.003%$0 on $10k
Price spread, last 7 days−0.686%−$69 · spread now +0.028%, 7d avg +0.049%
Together, before fees−0.682%+ Points / potential airdropExtended: Active · farm board−$68 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 0.020% cheaper against Extended than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.049%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongExtended ETH-USD2,7490.0104pay 0.0013% / 1h51m 23s$30.5M$74.2M50x
ShortBackpack ETH_USDC_PERP2,749.70.0100get 0.0013% / 1h51m 23s$14.9M$42.5M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against Extended. 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
−$0.84
Price spread: +0.028% → +0.049%
−$2.04
Slippage, 4 orders
−$0.42
Fee Extended: 2.5 bp × 2 orders
−$5
Fee Backpack: 5 bp × 2 orders
−$10
Net
−$18.3
Costs to cover
0.154%
Break-even
never at this rate
Slippage from Extended: live order book, 3 min ago; Backpack: live order book, 3 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 Extended live order book, 3 min ago0.18 bp2.7 bp −$32.7 bp −$276.0 bp −$59613.5 bp −$6,753
Sell Backpack live order book, 3 min ago0.02 bp5.0 bp −$56.8 bp −$6831.1 bp −$3,110doesn'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
ApeX Omni ETHUSDT−0.0449%1h2,745.8−0.114%$8.7M$31.5M100xas long as short
Perpl ETH−0.0447%43m2,749+0.003%$320K$6.2M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,749.7+0.027%$5K$1K50xas long as short
RISEx ETH/USDC−0.0071%1h2,750.2+0.045%$5.5M$11.3M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,749.1+0.005%$12.0M—200xas long as short
Phoenix ETH−0.0006%1h2,749.5+0.020%$863K$3.1M25xas long as short
dYdX ETH-USD0.0000%1h2,750.6+0.058%$10.9M$41.9M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,751.1+0.080%$22.2M—200xas long as short
01 Exchange ETHUSD+0.0008%1h2,750.2+0.045%$181K$1.1M50xas long as short
BingX ETH-USDC+0.0027%8h2,750.3+0.049%—$17.3M—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0035%8h2,751.1+0.079%$1.67B$11.09B100xas long as short
HTX ETH-USDT+0.0038%8h2,749.1+0.004%$1.07B$1.23B200xas long as short
Aster ETHUSDT+0.0046%8h2,750+0.039%$255.9M$854.8M200xas long as short
MEXC ETH_USDT+0.0055%8h2,750+0.036%$1.58B$2.53B500xas long as short
Aevo ETH-PERP+0.0056%1h2,747.3−0.061%$4.9M$163K20xas long as short
Binance ETHUSDT+0.0058%8h2,750.8+0.067%$6.37B$16.32B150xas long as short
Gate ETH_USDT+0.0058%8h2,751.3+0.085%$3.33B$8.72B200xas long as short
KuCoin ETHUSDTM+0.0081%8h2,749.6+0.023%$384.9M$607.1M100xas long as short
Bitget ETHUSDT+0.0083%8h2,749.7+0.026%$2.07B$2.86B150xas long as short
Deribit ETH-PERPETUAL+0.0088%1h2,751+0.073%$258.8M$202.4M50xas long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,751.2+0.083%$59.6M$4.39B50xas long as short
Variational Omni ETH+0.0095%8h2,741.6−0.268%$132.7M$345.8M—as long as short
Aftermath Perps ETHUSD+0.0096%1h2,750.4+0.051%$30K$21K20xas long as short
Lighter ETH+0.0096%1h2,749.1+0.007%$113.2M$438.9M50xas long as short
Lighter RH ETH+0.0096%1h2,750.9+0.072%$25.0M$105.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,751.1+0.077%—$35.7M500xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,751.7+0.100%$15.9M$8.2M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,749.3+0.013%$469K$2.9M50xas long as short
Nado ETH-PERP+0.0100%1h2,748.9−0.003%$14.0M$113.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,752+0.111%$3.13B$2.14B25xas long as short
Pacifica ETH+0.0100%1h2,749.3+0.014%$31.2M$332.2M50xas long as short
Bybit ETHUSDT+0.0100%8h2,751+0.075%$2.46B$4.35B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,749.1+0.005%$2.8M$16.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,750.7+0.063%$2.8M$16.8M25xas long as short
Bulk ETH-USD+0.0100%1h2,752.6+0.134%$169.2M$297.0M25xas long as short
Backpack ETH_USDC_PERPshort+0.0100%1h2,749.7+0.028%$14.9M$42.5M50x
edgeX ETHUSDC+0.0100%4h2,743.2−0.207%$183.8M$733.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,747.1−0.068%$159.8M$82.0M50xas long as short
StandX ETH-USD+0.0100%1h2,745.9−0.111%$21.2M$65.9M40xas long as short
Vest ETH-PERP+0.0100%1h2,750.3+0.049%—$871K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,749.4+0.016%$10.4M$8.0M50xas long as short
Bullet ETH-USD+0.0100%1h2,750.5+0.057%$183K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,749.3+0.014%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,751.2+0.082%$42.0M$29.0M15xas long as short
SunX ETH-USDT+0.0100%8h2,749.1+0.007%$963K$12.6M100xas long as short
SoDEX ETH-USD+0.0100%1h2,749.6+0.024%$54.7M$187.6M40xas long as short
Phemex ETHUSDT+0.0100%8h2,749.8+0.030%$267.4M$66.2M150xas long as short
Extended ETH-USDlong+0.0104%1h2,749long leg$30.5M$74.2M50x
Kalshi KXETHPERP+0.0130%8h2,750+0.038%$7.7M$671.3M4.9xas long as short
Orderly PERP_ETH_USDC+0.0160%8h2,753.9+0.180%$32.4M$11.2M100xas long as short
Hibachi ETH/USDT-P+0.0168%1h2,750+0.040%$250K$1.5M20xas long as short
BloFin ETH-USDT+0.0175%8h2,747.3−0.059%$286.1M$178.5M150xas long as short
Injective ETH/USDC PERP+0.0209%1h2,744.5−0.162%$118K$22.5M52xas long as short
Reya ETHRUSDPERP+0.0217%1h2,749.4+0.018%$7.3M$1.1M25xas long as short
Kraken Futures PF_ETHUSD+0.0354%1h2,751+0.074%$93.1M$319.7M100xas long as short