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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 10:00 UTC+0.0093%/8h= +10.2% APRnext payment +$0.12 per $10,000 · paid last 24h +0.018%
Price spread now: Bullet against gTrade (Gains Network)0.000%7-day average +0.009% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$200.202% of the position
Long on gTrade (Gains Network)Short on Bullet
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.049%+$5 on $10k
Price spread, last 7 days−0.010%−$1 · spread now 0.000%, 7d avg +0.009%
Together, before fees+0.039%+$4 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.009%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LonggTrade (Gains Network) ETH/USD2,744.4L +0.0007% / S −0.0006%pay 0.0001% / 1h21m 33s$33.1M—200x
ShortBullet ETH-USD2,744.40.0100get 0.0013% / 1h21m 33s$177K$1.7M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bullet against gTrade (Gains Network). 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
$19.62
Price spread: 0.000% → +0.009%
−$0.9
Slippage, 4 orders
−$5.17
Fee gTrade (Gains Network): 3.5 bp × 2 orders
−$7
Fee Bullet: 4 bp × 2 orders
−$8
Net
−$1.45
Costs to cover
0.202%
Break-even
7.5 days
Slippage from gTrade (Gains Network): virtual book (oracle exchange), 1 min ago; Bullet: 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 gTrade (Gains Network) virtual book (oracle exchange), 1 min ago0.53 bp4.0 bp −$44.1 bp −$415.0 bp −$5008.9 bp −$4,449
Sell Bullet live order book, 1 min ago0.55 bp6.0 bp −$69.8 bp −$98doesn't fitdoesn't fit

ETH on 54 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi ETH/USDT-P−0.0088%1h2,740.5−0.143%$234K$1.3M20xas long as short
Hotstuff ETH-PERP−0.0080%1h2,740−0.162%$5K$1K50xas long as short
ApeX Omni ETHUSDT−0.0069%1h2,740.4−0.149%$8.3M$29.8M100xas long as short
Bybit ETHUSDT−0.0033%8h2,742.7−0.063%$2.36B$3.93B150xas long as short
Phoenix ETH−0.0023%1h2,739.6−0.176%$805K$2.9M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,744.40.000%$12.0M—200xas long as short
Kalshi KXETHPERP0.0000%8h2,742.4−0.074%$7.0M$663.8M4.9xas long as short
Perpl ETH0.0000%43m2,743.8−0.022%$271K$5.1M8.3xas long as short
gTrade (Gains Network) ETH/USDlongL +0.0007% / S −0.0006%1h2,744.4long leg$33.1M—200x
01 Exchange ETHUSD+0.0048%1h2,743.7−0.027%$195K$942K50xas long as short
Show all 54 exchanges
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Gate ETH_USDT+0.0051%8h2,742.8−0.059%$3.26B$7.86B200xas long as short
dYdX ETH-USD+0.0055%1h2,743.3−0.042%$14.8M$43.1M50xas long as short
OKX ETH-USDT-SWAP+0.0067%8h2,742.6−0.066%$1.67B$9.54B100xas long as short
Aster ETHUSDT+0.0073%8h2,742.8−0.058%$256.2M$745.0M200xas long as short
MEXC ETH_USDT+0.0078%8h2,742.9−0.055%$1.59B$2.51B500xas long as short
Binance ETHUSDT+0.0079%8h2,742.8−0.059%$6.38B$14.66B150xas long as short
Kraken Futures PF_ETHUSD+0.0080%1h2,744.4−0.003%$82.2M$283.1M100xas long as short
Aevo ETH-PERP+0.0080%1h2,741.8−0.096%$4.9M$208K20xas long as short
KuCoin ETHUSDTM+0.0082%8h2,743.4−0.038%$365.6M$459.9M100xas long as short
Aftermath Perps ETHUSD+0.0088%1h2,740.3−0.152%$30K$8K20xas long as short
SoDEX ETH-USD+0.0094%1h2,743.7−0.027%$61.8M$121.8M40xas long as short
Lighter ETH+0.0096%1h2,743.6−0.031%$114.0M$389.4M50xas long as short
Lighter RH ETH+0.0096%1h2,745+0.019%$23.8M$98.5M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,741.4−0.110%—$23.9M500xas long as short
Katana Perps ETH-USD+0.0100%8h2,742.2−0.082%$506K$3.5M50xas long as short
Nado ETH-PERP+0.0100%1h2,743−0.052%$14.6M$97.7M50xas long as short
Pacifica ETH+0.0100%1h2,744.1−0.013%$32.2M$326.0M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,742.8−0.060%$2.8M$14.4M25xas long as short
Arcus ETH-USD+0.0100%1h2,743.6−0.032%$1.5M$14.9M25xas long as short
Bulk ETH-USD+0.0100%1h2,740.6−0.139%$163.1M$330.7M25xas long as short
Bitget ETHUSDT+0.0100%8h2,742.7−0.064%$2.11B$2.39B150xas long as short
BingX ETH-USDC+0.0100%8h2,742−0.088%—$18.5M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,743.1−0.047%$14.9M$37.3M50xas long as short
Variational Omni ETH+0.0100%8h2,738.5−0.218%$132.1M$303.2M—as long as short
edgeX ETHUSDC+0.0100%4h2,738.5−0.215%$185.9M$632.6M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,740.4−0.148%$159.3M$73.0M50xas long as short
StandX ETH-USD+0.0100%1h2,744.7+0.009%$21.1M$72.6M40xas long as short
Vest ETH-PERP+0.0100%1h2,744.5+0.003%—$351K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,744.3−0.005%$11.2M$8.7M50xas long as short
Bullet ETH-USDshort+0.0100%1h2,744.40.000%$177K$1.7M20x
SunX ETH-USDT+0.0100%8h2,744.6+0.005%$947K$9.3M100xas long as short
HTX ETH-USDT+0.0100%8h2,744−0.016%$1.05B$1.10B200xas long as short
Phemex ETHUSDT+0.0100%8h2,743.9−0.018%$264.0M$57.9M150xas long as short
Extended ETH-USD+0.0104%1h2,741.5−0.109%$30.4M$67.2M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,744.9+0.018%$45.6M$3.95B50xas long as short
BloFin ETH-USDT+0.0108%8h2,740.2−0.153%$282.7M$158.1M150xas long as short
Deribit ETH-PERPETUAL+0.0114%1h2,745+0.021%$267.3M$195.2M50xas long as short
Hyperliquid ETH+0.0115%1h2,746.6+0.079%$3.15B$1.77B25xas long as short
Reya ETHRUSDPERP+0.0161%1h2,743.7−0.025%$7.3M$870K25xas long as short
RISEx ETH/USDC+0.0167%1h2,743.7−0.028%$5.6M$10.7M25xas long as short
Orderly PERP_ETH_USDC+0.0175%8h2,746.4+0.070%$32.4M$10.1M100xas long as short
Paradex ETH-USD-PERP+0.0279%8h2,747.7+0.120%$15.8M$6.5M50xas long as short
Injective ETH/USDC PERP+0.0308%1h2,743.6−0.031%$118K$23.4M52xas long as short
Bluefin ETH-PERP+0.1169%1h2,744.6+0.007%$20K$15K25xas long as short