Settings8H · net · $10k
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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 02:00 UTC+0.0260%/8h= +28.5% APRpaid last 24h +0.034%
Price spread now: Kraken Futures against Gate+0.005%7-day average +0.015% · you sell dearer than you buy
Net, funding: paid 7d − costs−$10as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$260.260% of the position
Long on GateShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 7 days+0.161%+$16 on $10k
Price spread, last 3 days (all we have)0.000%$0 · spread now +0.005%, 7d avg +0.015%
Together, before fees+0.161%+$16 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.015%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.161% in total (about 8.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGate ETH_USDT2,748.80.0094pay 0.0094% / 8h6h 31m$3.39B$8.86B200x
ShortKraken Futures PF_ETHUSD2,748.90.0354get 0.0044% / 1h31m 38s$90.0M$317.0M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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
$54.59
Price spread: +0.005% → +0.015%
−$0.93
Slippage, 4 orders
−$0.96
Fee Gate: 7.5 bp × 2 orders
−$15
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$27.7
Costs to cover
0.260%
Break-even
3.4 days
Slippage from Gate: live order book, 2 min ago; Kraken Futures: live order book, 3 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 −$88.2 bp −$8212.0 bp −$1,20421.9 bp −$10.9K
Sell Kraken Futures live order book, 3 min ago0.18 bp5.2 bp −$56.4 bp −$647.9 bp −$79012.1 bp −$6,064

ETH on 54 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%43m2,748.9+0.004%$310K$6.0M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,748.4−0.013%$5K$1K50xas long as short
RISEx ETH/USDC−0.0071%1h2,748.8+0.001%$5.5M$11.2M25xas long as short
ApeX Omni ETHUSDT−0.0042%1h2,744.9−0.139%$8.7M$31.8M100xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,749.5+0.027%$11.9M—200xas long as short
Phoenix ETH−0.0006%1h2,746.4−0.085%$848K$3.1M25xas long as short
dYdX ETH-USD0.0000%1h2,748−0.027%$10.8M$41.8M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,749.3+0.020%$22.2M—200xas long as short
01 Exchange ETHUSD+0.0016%1h2,749.1+0.013%$181K$1.1M50xas long as short
BingX ETH-USDC+0.0032%8h2,748.1−0.024%—$17.3M—as long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0042%8h2,748.80.000%$1.69B$11.03B100xas long as short
HTX ETH-USDT+0.0043%8h2,747.4−0.050%$1.07B$1.21B200xas long as short
Aster ETHUSDT+0.0061%8h2,748.4−0.012%$252.9M$859.5M200xas long as short
MEXC ETH_USDT+0.0071%8h2,748.2−0.019%$1.56B$2.56B500xas long as short
Aevo ETH-PERP+0.0072%1h2,747−0.065%$4.9M$168K20xas long as short
Binance ETHUSDT+0.0072%8h2,748.6−0.006%$6.36B$16.24B150xas long as short
KuCoin ETHUSDTM+0.0073%8h2,747.9−0.031%$381.3M$607.0M100xas long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,749.6+0.029%$59.0M$4.38B50xas long as short
Bitget ETHUSDT+0.0090%8h2,748.7−0.004%$2.08B$2.85B150xas long as short
Gate ETH_USDTlong+0.0094%8h2,748.8long leg$3.39B$8.86B200x
Lighter ETH+0.0096%1h2,748.4−0.011%$112.8M$442.2M50xas long as short
Lighter RH ETH+0.0096%1h2,749.6+0.030%$24.9M$106.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,748.6−0.006%—$35.4M500xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,753+0.154%$15.9M$8.1M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,747.8−0.035%$468K$2.9M50xas long as short
Nado ETH-PERP+0.0100%1h2,747.9−0.032%$14.0M$113.2M50xas long as short
Hyperliquid ETH+0.0100%1h2,750.2+0.053%$3.13B$2.12B25xas long as short
Pacifica ETH+0.0100%1h2,748.7−0.001%$31.5M$333.7M50xas long as short
Bybit ETHUSDT+0.0100%8h2,748.8+0.003%$2.46B$4.35B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,748−0.027%$2.8M$16.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,749.3+0.020%$2.8M$16.6M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,747.4−0.048%$15.1M$41.7M50xas long as short
Variational Omni ETH+0.0100%8h2,744.6−0.152%$133.0M$346.7M—as long as short
edgeX ETHUSDC+0.0100%4h2,744.4−0.160%$181.5M$729.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,745.8−0.107%$159.7M$84.5M50xas long as short
StandX ETH-USD+0.0100%1h2,746.2−0.093%$21.2M$67.6M40xas long as short
Vest ETH-PERP+0.0100%1h2,749.8+0.039%—$869K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,749.2+0.016%$10.3M$8.0M50xas long as short
Bullet ETH-USD+0.0100%1h2,749.3+0.020%$183K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,749.2+0.016%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,750.2+0.053%$41.8M$29.3M15xas long as short
SunX ETH-USDT+0.0100%8h2,749+0.009%$964K$12.5M100xas long as short
SoDEX ETH-USD+0.0100%1h2,748.1−0.024%$54.7M$187.6M40xas long as short
Phemex ETHUSDT+0.0100%8h2,748.4−0.011%$267.1M$66.5M150xas long as short
Bulk ETH-USD+0.0100%1h2,743.9−0.175%$165.5M$306.7M25xas long as short
Aftermath Perps ETHUSD+0.0101%1h2,746.4−0.085%$30K$21K20xas long as short
Extended ETH-USD+0.0104%1h2,747.7−0.039%$30.4M$74.3M50xas long as short
Kalshi KXETHPERP+0.0138%8h2,747.6−0.042%$7.8M$673.9M4.9xas long as short
Deribit ETH-PERPETUAL+0.0143%1h2,749.5+0.027%$258.5M$201.5M50xas long as short
Orderly PERP_ETH_USDC+0.0168%8h2,751.2+0.089%$32.4M$11.1M100xas long as short
Hibachi ETH/USDT-P+0.0192%1h2,746.5−0.082%$250K$1.5M20xas long as short
Injective ETH/USDC PERP+0.0209%1h2,746.7−0.075%$118K$22.5M52xas long as short
Reya ETHRUSDPERP+0.0219%1h2,749.3+0.018%$7.3M$1.1M25xas long as short
Kraken Futures PF_ETHUSDshort+0.0354%1h2,748.9+0.005%$90.0M$317.0M100x