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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 21:00 UTC−0.0102%/8h= −11.2% APRpaid last 24h −0.012%
Price spread now: Phemex against Extended+0.019%7-day average +0.031% · you sell dearer than you buy
Net, funding: paid 7d − costs−$28as in the Funding arb table
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$170.175% of the position
Long on ExtendedShort on Phemex
What this pair did over the last
the charts below follow
Funding, last 7 days−0.103%−$10 on $10k
Price spread, last 3 days (all we have)−0.188%−$19 · spread now +0.019%, 7d avg +0.031%
Together, before fees−0.291%+ Points / potential airdropExtended: Active · farm board−$29 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.031%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongExtended ETH-USD2,783.80.0104pay 0.0013% / 1h17m 03s$31.8M$76.8M50x
ShortPhemex ETHUSDT2,784.30.0002get 0.0002% / 8h3h 17m$268.5M$66.5M150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex against Extended. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$21.41
Price spread: +0.019% → +0.031%
−$1.16
Slippage, 4 orders
−$0.46
Fee Extended: 2.5 bp × 2 orders
−$5
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$40.02
Costs to cover
0.175%
Break-even
never at this rate
Slippage from Extended: live order book, 2 min ago; Phemex: live order book, 2 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, 2 min ago0.18 bp2.7 bp −$32.7 bp −$275.5 bp −$54713.0 bp −$6,492
Sell Phemex live order book, 2 min ago0.02 bp6.1 bp −$66.7 bp −$6710.0 bp −$1,00313.8 bp −$6,921

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%43m2,785.2+0.052%$292K$6.9M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,786.7+0.104%$5K$2K50xas long as short
Phoenix ETH−0.0032%1h2,785.7+0.069%$796K$3.5M25xas long as short
RISEx ETH/USDC−0.0005%1h2,786.2+0.086%$5.8M$12.1M25xas long as short
dYdX ETH-USD0.0000%1h2,785.7+0.069%$13.5M$44.8M50xas long as short
Phemex ETHUSDTshort+0.0002%8h2,784.3+0.019%$268.5M$66.5M150x
Injective ETH/USDC PERP+0.0003%1h2,787.8+0.144%$120K$22.5M52xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,785.2+0.051%$22.5M—200xas long as short
01 Exchange ETHUSD+0.0008%1h2,785.7+0.069%$175K$1.2M50xas long as short
OKX ETH-USDT-SWAP+0.0023%8h2,784+0.009%$1.70B$11.96B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX ETH/USD [ETH-USDC]L +0.0026% / S +0.0010%1h2,785.2+0.052%$13.0M—200xas long as short
MEXC ETH_USDT+0.0047%8h2,783.8−0.001%$1.57B$2.60B500xas long as short
Binance ETHUSDT+0.0048%8h2,784.6+0.027%$6.48B$17.28B150xas long as short
Aevo ETH-PERP+0.0048%1h2,781.7−0.077%$5.0M$652K20xas long as short
Gate ETH_USDT+0.0060%8h2,784.6+0.030%$3.31B$9.63B200xas long as short
Aster ETHUSDT+0.0064%8h2,783.5−0.011%$257.8M$1.00B200xas long as short
Aftermath Perps ETHUSD+0.0064%1h2,792+0.296%$29K$22K20xas long as short
Bitget ETHUSDT+0.0073%8h2,784.3+0.016%$2.10B$3.17B150xas long as short
Bulk ETH-USD+0.0080%1h2,788.7+0.177%$165.6M$263.4M25xas long as short
Lighter ETH+0.0096%1h2,784.4+0.022%$116.1M$521.1M50xas long as short
Lighter RH ETH+0.0096%1h2,785.8+0.071%$25.6M$125.6M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,786.5+0.098%—$48.0M500xas long as short
Katana Perps ETH-USD+0.0100%8h2,786.2+0.086%$495K$2.7M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,790+0.223%$16.0M$11.2M50xas long as short
Nado ETH-PERP+0.0100%1h2,785.3+0.054%$16.9M$114.8M50xas long as short
Pacifica ETH+0.0100%1h2,786+0.079%$31.5M$276.8M50xas long as short
Bybit ETHUSDT+0.0100%8h2,784.3+0.017%$2.52B$4.65B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,785.3+0.054%$2.9M$16.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,787.5+0.134%$2.9M$17.6M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,783.8+0.001%$429.2M$747.7M100xas long as short
BingX ETH-USDC+0.0100%8h2,784.4+0.022%—$17.2M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,784.5+0.024%$15.5M$42.4M50xas long as short
Variational Omni ETH+0.0100%8h2,789.3+0.198%$141.4M$317.3M—as long as short
edgeX ETHUSDC+0.0100%4h2,787.2+0.122%$178.3M$783.0M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,786.2+0.087%$162.0M$98.1M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,786+0.080%$10.6M$30.6M100xas long as short
StandX ETH-USD+0.0100%1h2,786.5+0.097%$21.5M$57.7M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,786.4+0.094%$10.9M$8.0M50xas long as short
Bullet ETH-USD+0.0100%1h2,788.4+0.164%$191K$1.8M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,785.2+0.051%$21K$25K25xas long as short
SunX ETH-USDT+0.0100%8h2,783.8−0.002%$976K$14.4M100xas long as short
SoDEX ETH-USD+0.0100%1h2,783.9+0.004%$55.4M$228.5M40xas long as short
HTX ETH-USDT+0.0100%8h2,783.5−0.010%$1.09B$1.31B200xas long as short
Vest ETH-PERP+0.0100%1h2,785.8+0.072%—$1.1M50xas long as short
Extended ETH-USDlong+0.0104%1h2,783.8long leg$31.8M$76.8M50x
Coinbase International ETH-PERP-INTX+0.0104%1h2,785.4+0.058%$60.3M$4.68B50xas long as short
Orderly PERP_ETH_USDC+0.0121%8h2,787.7+0.140%$32.7M$11.5M100xas long as short
Deribit ETH-PERPETUAL+0.0131%1h2,786+0.078%$259.0M$223.4M50xas long as short
Kalshi KXETHPERP+0.0133%8h2,785.3+0.054%$8.6M$667.5M4.9xas long as short
Derive ETH-PERP+0.0134%1h2,786.4+0.093%$43.2M$29.8M15xas long as short
Kraken Futures PF_ETHUSD+0.0135%1h2,785.5+0.060%$88.8M$337.4M100xas long as short
BloFin ETH-USDT+0.0168%8h2,783.7−0.004%$287.8M$197.6M150xas long as short
Hyperliquid ETH+0.0168%1h2,787+0.115%$3.24B$2.37B25xas long as short
Reya ETHRUSDPERP+0.0204%1h2,783.6−0.007%$7.5M$992K25xas long as short
Hibachi ETH/USDT-P+0.0272%1h2,788.1+0.156%$275K$1.6M20xas long as short