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Funding arb · Price arb /

ETH

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Alert: spread
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Funding you earn now, next payment 23:00 UTC+0.0094%/8h= +10.3% APRpaid last 24h +0.028%
Price spread now: Variational Omni against gTrade (Gains Network)−0.004%7-day average −0.014% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on gTrade (Gains Network)Short on Variational Omni
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.079%+$8 on $10k
Price spread, last 3 days (all we have)−0.052%−$5 · spread now −0.004%, 7d avg −0.014%
Together, before fees+0.027%+ Points / potential airdropVariational Omni: Active · farm board+$3 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.014%, 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/USD2,781.8L +0.0006% / S −0.0006%pay 0.0001% / 1h39m 56s$22.5M—200x
ShortVariational Omni ETH2,781.70.0100get 0.0100% / 8h1h 39m$135.5M$322.3M—

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Variational Omni 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
$19.7
Price spread: −0.004% → −0.014%
$0.92
Slippage, 4 orders
no order book: not counted
Fee gTrade (Gains Network): 3.5 bp × 2 orders
−$7
Fee Variational Omni: 0 bp × 2 orders
$0
Net
$13.61
Costs to cover
0.070%
Break-even
2.2 days
Slippage unknown: gTrade (Gains Network): virtual book (oracle venue), 4 min ago; Variational Omni: RFQ quote, 4 min ago. 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), 4 min ago0.54 bp4.0 bp −$44.1 bp −$415.0 bp −$5008.9 bp −$4,445
Sell Variational Omni RFQ quote, 4 min ago0.50 bpdoesn't fit1.0 bp −$104.9 bp −$490doesn'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
Perpl ETH−0.0447%43m2,780.3−0.054%$289K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,780.5−0.047%$5.8M$12.0M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,780.7−0.041%$5K$2K50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,775.7−0.220%$119K$22.5M52xas long as short
01 Exchange ETHUSD−0.0032%1h2,780.8−0.037%$170K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0027%1h2,778−0.137%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,780.4−0.053%$12.7M$45.5M50xas long as short
Phoenix ETH0.0000%1h2,774.2−0.274%$885K$3.7M25xas long as short
Phemex ETHUSDT+0.0004%8h2,780.4−0.053%$270.4M$68.5M150xas long as short
gTrade (Gains Network) ETH/USDlongL +0.0006% / S −0.0006%1h2,781.8long leg$22.5M—200x
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDT+0.0015%8h2,780.7−0.042%—$1.18B—as long as short
OKX ETH-USDT-SWAP+0.0019%8h2,779.2−0.095%$1.71B$11.84B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0028% / S +0.0009%1h2,781.7−0.006%$13.2M—200xas long as short
Aster ETHUSDT+0.0038%8h2,781.7−0.005%$257.1M$989.8M200xas long as short
Bullet ETH-USD+0.0040%1h2,781−0.029%$182K$1.8M20xas long as short
Nado ETH-PERP+0.0050%1h2,780.7−0.042%$14.3M$117.8M50xas long as short
Aevo ETH-PERP+0.0056%1h2,774.9−0.248%$5.0M$636K20xas long as short
MEXC ETH_USDT+0.0058%8h2,779.5−0.084%$1.62B$2.65B500xas long as short
Binance ETHUSDT+0.0062%8h2,780.1−0.064%$6.45B$17.10B150xas long as short
Bitget ETHUSDT+0.0072%8h2,779.2−0.096%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0077%8h2,780.7−0.040%$3.30B$9.57B200xas long as short
Lighter ETH+0.0096%1h2,781.6−0.007%$115.3M$497.6M50xas long as short
Lighter RH ETH+0.0096%1h2,782.6+0.028%$25.5M$120.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,780.6−0.044%—$41.5M500xas long as short
Bybit ETHUSDT+0.0096%8h2,778.8−0.111%$2.52B$4.59B150xas long as short
HTX ETH-USDT+0.0096%8h2,781.1−0.027%$1.08B$1.31B200xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,781.2−0.022%$16.0M$10.5M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,780.8−0.037%$483K$2.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,783+0.042%$3.20B$2.39B25xas long as short
Pacifica ETH+0.0100%1h2,780.7−0.041%$31.3M$295.5M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,780−0.066%$2.8M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,782.1+0.011%$2.8M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,781.3−0.018%$166.9M$248.1M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,781.2−0.024%$426.8M$737.4M100xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,781.5−0.014%$15.3M$44.0M50xas long as short
Variational Omni ETHshort+0.0100%8h2,781.7−0.004%$135.5M$322.3M—
edgeX ETHUSDC+0.0100%4h2,776.9−0.178%$180.0M$778.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,776.5−0.191%$161.5M$93.1M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,776.6−0.189%$8.7M$32.6M100xas long as short
StandX ETH-USD+0.0100%1h2,780.3−0.055%$21.5M$57.9M40xas long as short
Vest ETH-PERP+0.0100%1h2,781.2−0.024%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,782.2+0.013%$10.8M$7.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,781.3−0.018%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,783.1+0.045%$42.8M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,779.6−0.082%$975K$14.0M100xas long as short
SoDEX ETH-USD+0.0100%1h2,780.8−0.037%$55.4M$228.8M40xas long as short
Extended ETH-USD+0.0104%1h2,778.7−0.113%$31.6M$74.6M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,782.1+0.010%$60.3M$4.60B50xas long as short
Hibachi ETH/USDT-P+0.0112%1h2,782+0.007%$279K$1.5M20xas long as short
Kalshi KXETHPERP+0.0114%8h2,781.5−0.012%$8.6M$672.9M4.9xas long as short
Deribit ETH-PERPETUAL+0.0120%1h2,782.4+0.019%$258.4M$221.6M50xas long as short
Orderly PERP_ETH_USDC+0.0139%8h2,783.5+0.061%$32.7M$12.0M100xas long as short
Kraken Futures PF_ETHUSD+0.0169%1h2,781.80.000%$86.3M$330.4M100xas long as short
BloFin ETH-USDT+0.0178%8h2,779.6−0.079%$285.4M$194.7M150xas long as short
Reya ETHRUSDPERP+0.0189%1h2,780.7−0.041%$7.4M$1.1M25xas long as short