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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Funding you earn now, next payment 00:00 UTC+0.0137%/8h= +15.0% APRpaid last 24h +0.058%
Price spread now: Orderly against gTrade (Gains Network)+0.072%7-day average +0.069% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on gTrade (Gains Network)Short on Orderly
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.146%+$15 on $10k
Price spread, last 3 days (all we have)−0.083%−$8 · spread now +0.072%, 7d avg +0.069%
Together, before fees+0.063%+$6 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.069%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LonggTrade (Gains Network) ETH/USD2,769.5L +0.0006% / S −0.0006%pay 0.0001% / 1h6m 20s$22.4M—200x
ShortOrderly PERP_ETH_USDC2,771.50.0143get 0.0143% / 8h6m 20s$32.6M$12.2M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Orderly 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
$28.69
Price spread: +0.072% → +0.069%
$0.27
Slippage, 4 orders
no order book: not counted
Fee gTrade (Gains Network): 3.5 bp × 2 orders
−$7
Fee Orderly: 3 bp × 2 orders
−$6
Net
$15.96
Costs to cover
0.130%
Break-even
3.1 days
Slippage unknown: gTrade (Gains Network): virtual book (oracle venue), 3 min ago; Orderly: no order-book sample. Net counts fees only.

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 venue), 3 min ago0.52 bp4.0 bp −$44.1 bp −$415.0 bp −$5028.9 bp −$4,460
Sell Orderly no order-book sample—————
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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−0.0223%43m2,770.7+0.043%$285K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0206%1h2,769.8+0.011%$5.6M$11.9M25xas long as short
Injective ETH/USDC PERP−0.0088%1h2,762.1−0.267%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,770.7+0.043%$5K$2K50xas long as short
ApeX Omni ETHUSDT−0.0016%1h2,769.8+0.011%$8.7M$32.9M100xas long as short
01 Exchange ETHUSD−0.0008%1h2,770+0.018%$168K$1.2M50xas long as short
dYdX ETH-USD0.0000%1h2,771+0.053%$12.7M$45.9M50xas long as short
Phoenix ETH+0.0003%1h2,771.5+0.072%$876K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDlongL +0.0006% / S −0.0006%1h2,769.5long leg$22.4M—200x
OKX ETH-USDT-SWAP+0.0022%8h2,768.7−0.028%$1.71B$11.87B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX ETH/USD [ETH-USDC]L +0.0026% / S +0.0009%1h2,769.3−0.006%$12.8M—200xas long as short
Aftermath Perps ETHUSD+0.0028%1h2,771.3+0.065%$29K$22K20xas long as short
SoDEX ETH-USD+0.0029%1h2,768.9−0.022%$55.1M$228.8M40xas long as short
Phemex ETHUSDT+0.0030%8h2,770.2+0.024%$270.0M$68.8M150xas long as short
Aster ETHUSDT+0.0032%8h2,769.7+0.007%$255.6M$1.00B200xas long as short
Bullet ETH-USD+0.0036%1h2,768.4−0.040%$181K$1.7M20xas long as short
MEXC ETH_USDT+0.0055%8h2,768.9−0.021%$1.62B$2.66B500xas long as short
Binance ETHUSDT+0.0055%8h2,768.6−0.033%$6.45B$17.30B150xas long as short
Aevo ETH-PERP+0.0056%1h2,767.7−0.066%$5.0M$636K20xas long as short
Bitget ETHUSDT+0.0065%8h2,769.2−0.011%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0067%8h2,768.5−0.036%$3.29B$9.69B200xas long as short
KuCoin ETHUSDTM+0.0081%8h2,769.8+0.012%$421.0M$738.6M100xas long as short
Bybit ETHUSDT+0.0088%8h2,768.9−0.022%$2.50B$4.62B150xas long as short
BingX ETH-USDT+0.0088%8h2,768.7−0.030%—$1.24B—as long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,772.1+0.092%$60.3M$4.59B50xas long as short
Deribit ETH-PERPETUAL+0.0093%1h2,770.6+0.038%$259.1M$222.2M50xas long as short
HTX ETH-USDT+0.0093%8h2,769.8+0.011%$1.08B$1.32B200xas long as short
Nado ETH-PERP+0.0095%1h2,769.4−0.003%$14.3M$118.2M50xas long as short
Lighter ETH+0.0096%1h2,770.7+0.042%$115.0M$501.8M50xas long as short
Lighter RH ETH+0.0096%1h2,771.5+0.071%$25.3M$122.1M50xas long as short
Vest ETH-PERP+0.0096%1h2,770+0.018%—$1.1M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,769.3−0.008%$15.9M$10.1M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,769.50.000%$475K$2.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,771.7+0.079%$3.17B$2.36B25xas long as short
Pacifica ETH+0.0100%1h2,770.3+0.030%$31.2M$316.9M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,769.50.000%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,770.5+0.034%$2.7M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,769.4−0.004%$169.4M$262.8M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,770.6+0.039%$15.1M$44.2M50xas long as short
Variational Omni ETH+0.0100%8h2,768.5−0.035%$148.3M$337.3M—as long as short
edgeX ETHUSDC+0.0100%4h2,769.4−0.004%$181.8M$784.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,770.9+0.052%$161.1M$89.5M50xas long as short
StandX ETH-USD+0.0100%1h2,770.6+0.040%$21.4M$58.7M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,769.6+0.004%$10.6M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,769.8+0.009%$21K$24K25xas long as short
SunX ETH-USDT+0.0100%8h2,769−0.019%$972K$13.9M100xas long as short
Derive ETH-PERP+0.0100%1h2,771.2+0.063%$42.7M$29.4M15xas long as short
Kalshi KXETHPERP+0.0104%8h2,771.2+0.061%$8.2M$688.2M4.9xas long as short
Extended ETH-USD+0.0104%1h2,768.3−0.044%$32.5M$78.4M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,771.3+0.066%—$43.8M500xas long as short
Kraken Futures PF_ETHUSD+0.0123%1h2,771.1+0.059%$90.4M$338.2M100xas long as short
Orderly PERP_ETH_USDCshort+0.0143%8h2,771.5+0.072%$32.6M$12.2M100x
BloFin ETH-USDT+0.0175%8h2,770.1+0.023%$286.5M$194.4M150xas long as short
Reya ETHRUSDPERP+0.0205%1h2,768.4−0.038%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0208%1h2,773+0.126%$252K$1.6M20xas long as short