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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 04:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h +0.034%
Price spread now: Deribit against Gate+0.016%7-day average +0.048% · 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−$27as in the Price arb table
costs, in and out, $10k−$240.239% of the position
Long on GateShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 7 days+0.089%+$9 on $10k
Price spread, last 4 days (all we have)−0.013%−$1 · spread now +0.016%, 7d avg +0.048%
Together, before fees+0.076%+$8 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: Deribit is 0.032% cheaper against Gate than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.048%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGate ETH_USDT2,737.10.0100pay 0.0100% / 8h4h 31m$3.35B$8.87B200x
ShortDeribit ETH-PERPETUAL2,737.50.0101get 0.0013% / 1h31m 53s$260.2M$196.6M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit against Gate. 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
$0.21
Price spread: +0.016% → +0.048%
−$3.15
Slippage, 4 orders
−$1.87
Fee Gate: 7.5 bp × 2 orders
−$15
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
−$26.81
Costs to cover
0.239%
Break-even
900.6 days
Slippage from Gate: live order book, 2 min ago; Deribit: 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 Gate live order book, 2 min ago0.02 bp7.5 bp −$87.8 bp −$7811.0 bp −$1,10218.2 bp −$9,095
Sell Deribit live order book, 2 min ago0.73 bp4.4 bp −$44.8 bp −$4810.3 bp −$1,03124.6 bp −$12.3K

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%43m2,735.2−0.068%$298K$5.6M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,730.9−0.225%$117K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,735.9−0.042%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,736.4−0.023%$12.0M—200xas long as short
dYdX ETH-USD0.0000%1h2,736−0.039%$10.8M$41.7M50xas long as short
01 Exchange ETHUSD0.0000%1h2,736.3−0.028%$188K$821K50xas long as short
Phoenix ETH0.0000%1h2,732−0.185%$829K$2.9M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,736.5−0.020%$27.9M—200xas long as short
Bullet ETH-USD+0.0007%1h2,735.8−0.045%$179K$1.7M20xas long as short
ApeX Omni ETHUSDT+0.0044%1h2,731.3−0.209%$8.9M$31.3M100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0058%8h2,736.4−0.024%—$18.4M—as long as short
HTX ETH-USDT+0.0063%8h2,735−0.075%$1.06B$1.19B200xas long as short
KuCoin ETHUSDTM+0.0067%8h2,736.6−0.018%$380.2M$575.1M100xas long as short
OKX ETH-USDT-SWAP+0.0070%8h2,737.4+0.013%$1.67B$10.73B100xas long as short
Phemex ETHUSDT+0.0071%8h2,736.2−0.033%$265.9M$65.4M150xas long as short
SoDEX ETH-USD+0.0072%1h2,736.1−0.035%$54.5M$187.7M40xas long as short
Bybit ETHUSDT+0.0073%8h2,737.2+0.006%$2.39B$4.35B150xas long as short
Aster ETHUSDT+0.0082%8h2,736.9−0.007%$251.1M$844.3M200xas long as short
MEXC ETH_USDT+0.0087%8h2,737.1+0.003%$1.53B$2.56B500xas long as short
Aevo ETH-PERP+0.0088%1h2,733.3−0.137%$4.9M$155K20xas long as short
Binance ETHUSDT+0.0088%8h2,737.2+0.005%$6.35B$15.87B150xas long as short
Lighter ETH+0.0096%1h2,736.4−0.023%$113.2M$438.4M50xas long as short
Lighter RH ETH+0.0096%1h2,737.6+0.019%$23.3M$106.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,736.2−0.030%—$30.8M500xas long as short
Paradex ETH-USD-PERP+0.0098%8h2,739.3+0.082%$15.5M$8.1M50xas long as short
RISEx ETH/USDC+0.0099%1h2,736.4−0.024%$5.6M$11.5M25xas long as short
Katana Perps ETH-USD+0.0100%8h2,735.4−0.061%$500K$3.2M50xas long as short
Nado ETH-PERP+0.0100%1h2,735.4−0.059%$13.8M$104.4M50xas long as short
Hyperliquid ETH+0.0100%1h2,738.9+0.067%$3.11B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,736.3−0.028%$32.0M$334.3M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,732.3−0.174%$2.7M$17.0M25xas long as short
Arcus ETH-USD+0.0100%1h2,736.2−0.031%$1.6M$16.3M25xas long as short
Bulk ETH-USD+0.0100%1h2,728.7−0.307%$166.6M$310.3M25xas long as short
Gate ETH_USDTlong+0.0100%8h2,737.1long leg$3.35B$8.87B200x
Bitget ETHUSDT+0.0100%8h2,736.9−0.006%$2.07B$2.75B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,736.4−0.026%$15.0M$39.7M50xas long as short
Variational Omni ETH+0.0100%8h2,726.6−0.384%$133.1M$325.4M—as long as short
edgeX ETHUSDC+0.0100%4h2,729.6−0.271%$183.6M$671.6M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,730.3−0.247%$158.8M$86.8M50xas long as short
StandX ETH-USD+0.0100%1h2,730.8−0.229%$21.1M$68.7M40xas long as short
Vest ETH-PERP+0.0100%1h2,736.2−0.030%—$843K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,737.6+0.020%$11.2M$9.1M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,736.1−0.036%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,737.6+0.021%$41.3M$29.8M15xas long as short
SunX ETH-USDT+0.0100%8h2,735.1−0.071%$958K$11.4M100xas long as short
Deribit ETH-PERPETUALshort+0.0101%1h2,737.5+0.016%$260.2M$196.6M50x
Extended ETH-USD+0.0104%1h2,736.2−0.032%$30.3M$72.7M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,737.7+0.025%$51.3M$4.27B50xas long as short
Aftermath Perps ETHUSD+0.0120%1h2,732.4−0.169%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0145%8h2,736−0.039%$6.6M$678.5M4.9xas long as short
Orderly PERP_ETH_USDC+0.0193%8h2,738.6+0.055%$32.2M$11.5M100xas long as short
Reya ETHRUSDPERP+0.0221%1h2,735.2−0.067%$7.3M$1.2M25xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,737−0.003%$83.5M$314.8M100xas long as short
Hibachi ETH/USDT-P+0.0256%1h2,734.9−0.078%$253K$1.4M20xas long as short
BloFin ETH-USDT+0.0350%8h2,734−0.112%$283.4M$175.7M150xas long as short