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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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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.

Funding you earn now, next payment 00:00 UTC+0.0060%/8h= +6.6% APRnext payment +$0.60 per $10,000 · paid last 24h +0.065%
Price spread now: Orderly against Gate+0.088%7-day average +0.087% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on GateShort on Orderly
What this pair did over the last
the charts below follow
Funding, last 7 days+0.315%+$31 on $10k
Price spread, last 3 days (all we have)−0.040%−$4 · spread now +0.088%, 7d avg +0.087%
Together, before fees+0.275%+$28 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.087%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGate ETH_USDT2,781.20.0079pay 0.0079% / 8h1h 41m$3.30B$9.57B200x
ShortOrderly PERP_ETH_USDC2,783.60.0139get 0.0139% / 8h1h 41m$32.7M$12.0M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Orderly 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
$12.59
Price spread: +0.088% → +0.087%
$0.12
Slippage, 4 orders
no order book: not counted
Fee Gate: 7.5 bp × 2 orders
−$15
Fee Orderly: 3 bp × 2 orders
−$6
Net
−$8.3
Costs to cover
0.210%
Break-even
11.6 days
Slippage unknown: Gate: live order book, 2 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 Gate live order book, 2 min ago0.02 bp7.5 bp −$87.5 bp −$7510.0 bp −$1,00518.3 bp −$9,131
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−0.0447%43m2,780.5−0.024%$289K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,780.4−0.028%$5.8M$12.0M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,778.1−0.111%$5K$2K50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,775.7−0.198%$119K$22.5M52xas long as short
01 Exchange ETHUSD−0.0040%1h2,781.1−0.004%$170K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0030%1h2,775.9−0.189%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,781.6+0.013%$12.7M$45.5M50xas long as short
Phoenix ETH0.0000%1h2,774.2−0.252%$885K$3.7M25xas long as short
Phemex ETHUSDT+0.0005%8h2,781−0.007%$270.5M$68.5M150xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,781.7+0.019%$22.5M—200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0017%8h2,780.9−0.010%—$17.3M—as long as short
OKX ETH-USDT-SWAP+0.0019%8h2,781.2−0.001%$1.71B$11.84B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0028% / S +0.0009%1h2,781.6+0.013%$13.2M—200xas long as short
Aster ETHUSDT+0.0034%8h2,781−0.008%$257.0M$989.8M200xas long as short
Bullet ETH-USD+0.0038%1h2,780.6−0.022%$182K$1.8M20xas long as short
Nado ETH-PERP+0.0039%1h2,780.1−0.041%$14.3M$117.8M50xas long as short
MEXC ETH_USDT+0.0056%8h2,782.8+0.058%$1.62B$2.65B500xas long as short
Aevo ETH-PERP+0.0056%1h2,778.6−0.094%$5.0M$636K20xas long as short
Binance ETHUSDT+0.0056%8h2,781.2+0.001%$6.46B$17.10B150xas long as short
Bitget ETHUSDT+0.0073%8h2,781.20.000%$2.11B$3.10B150xas long as short
Gate ETH_USDTlong+0.0079%8h2,781.2long leg$3.30B$9.57B200x
HTX ETH-USDT+0.0095%8h2,781−0.009%$1.08B$1.31B200xas long as short
Lighter ETH+0.0096%1h2,782+0.027%$115.3M$497.4M50xas long as short
Lighter RH ETH+0.0096%1h2,783+0.064%$25.5M$120.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,781.5+0.010%—$41.5M500xas long as short
Bybit ETHUSDT+0.0096%8h2,781.3+0.003%$2.53B$4.59B150xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,781−0.006%$16.0M$10.5M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,780.6−0.022%$482K$2.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,783.7+0.090%$3.20B$2.39B25xas long as short
Pacifica ETH+0.0100%1h2,780.9−0.011%$31.3M$295.5M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,779.3−0.068%$2.8M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,782.2+0.037%$2.8M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,770.6−0.381%$166.0M$246.3M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,781.3+0.004%$426.9M$737.5M100xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,781.8+0.022%$15.3M$44.0M50xas long as short
Variational Omni ETH+0.0100%8h2,773.8−0.265%$135.8M$327.0M—as long as short
edgeX ETHUSDC+0.0100%4h2,775.5−0.204%$179.9M$780.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,776.5−0.168%$161.5M$93.1M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,776.6−0.167%$8.7M$32.6M100xas long as short
StandX ETH-USD+0.0100%1h2,776.2−0.180%$21.4M$57.9M40xas long as short
Vest ETH-PERP+0.0100%1h2,780.4−0.029%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,781.6+0.014%$10.8M$7.7M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,781.5+0.011%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,783.4+0.078%$42.8M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,780.3−0.031%$975K$14.0M100xas long as short
SoDEX ETH-USD+0.0100%1h2,781−0.007%$55.4M$228.8M40xas long as short
Extended ETH-USD+0.0104%1h2,780.7−0.018%$31.4M$74.6M50xas long as short
Hibachi ETH/USDT-P+0.0104%1h2,778.9−0.083%$281K$1.5M20xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,782.5+0.045%$60.4M$4.60B50xas long as short
Kalshi KXETHPERP+0.0110%8h2,781−0.007%$8.6M$673.1M4.9xas long as short
Deribit ETH-PERPETUAL+0.0117%1h2,782.5+0.046%$258.4M$221.7M50xas long as short
Orderly PERP_ETH_USDCshort+0.0139%8h2,783.6+0.088%$32.7M$12.0M100x
Kraken Futures PF_ETHUSD+0.0169%1h2,782.2+0.034%$86.3M$330.4M100xas long as short
BloFin ETH-USDT+0.0176%8h2,778−0.116%$285.6M$194.6M150xas long as short
Reya ETHRUSDPERP+0.0189%1h2,780.6−0.022%$7.4M$1.1M25xas long as short