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 00:00 UTC−0.0050%/8h= −5.4% APRnext payment −$0.50 per $10,000 · paid last 24h +0.024%
Price spread now: Phemex against Gate−0.015%7-day average +0.003% · you buy dearer than you sell
Net, funding: paid 7d − costs−$24as in the Funding arb table
Net, price: spread back to 7d avg − costs−$29as in the Price arb table
costs, in and out, $10k−$270.271% of the position
Long on GateShort on Phemex
What this pair did over the last
the charts below follow
Funding, last 7 days+0.030%+$3 on $10k
Price spread, last 3 days (all we have)−0.010%−$1 · spread now −0.015%, 7d avg +0.003%
Together, before fees+0.021%+$2 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.003%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGate ETH_USDT2,778.40.0071pay 0.0071% / 8h1h 00m$3.30B$9.69B200x
ShortPhemex ETHUSDT2,7780.0021get 0.0021% / 8h1h 00m$270.6M$68.8M150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex 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
−$10.4
Price spread: −0.015% → +0.003%
−$1.84
Slippage, 4 orders
−$0.07
Fee Gate: 7.5 bp × 2 orders
−$15
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$39.31
Costs to cover
0.271%
Break-even
never at this rate
Slippage from Gate: live order book, 4 min ago; Phemex: live order book, 4 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, 4 min ago0.02 bp7.5 bp −$87.5 bp −$759.9 bp −$99217.6 bp −$8,777
Sell Phemex live order book, 4 min ago0.02 bp6.0 bp −$67.0 bp −$7010.9 bp −$1,09214.9 bp −$7,437

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%43m2,778.3−0.001%$288K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,778.3−0.004%$5.7M$11.9M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,779.3+0.033%$5K$2K50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,771.7−0.240%$119K$22.5M52xas long as short
01 Exchange ETHUSD−0.0040%1h2,778.3−0.003%$169K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0006%1h2,776.4−0.070%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,779.4+0.036%$12.7M$45.9M50xas long as short
Phoenix ETH0.0000%1h2,775.6−0.100%$885K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,779.2+0.030%$22.4M—200xas long as short
BingX ETH-USDT+0.0014%8h2,778.4+0.001%—$1.21B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0018%8h2,778.3−0.001%$1.70B$11.88B100xas long as short
Phemex ETHUSDTshort+0.0021%8h2,778−0.015%$270.6M$68.8M150x
Bullet ETH-USD+0.0022%1h2,778.3−0.004%$182K$1.7M20xas long as short
GMX ETH/USD [ETH-USDC]L +0.0027% / S +0.0009%1h2,779.2+0.028%$13.0M—200xas long as short
Aster ETHUSDT+0.0033%8h2,778.3−0.002%$254.8M$995.6M200xas long as short
Deribit ETH-PERPETUAL+0.0045%1h2,779.7+0.046%$258.7M$222.8M50xas long as short
Nado ETH-PERP+0.0054%1h2,778.4+0.001%$14.3M$118.2M50xas long as short
ApeX Omni ETHUSDT+0.0058%1h2,777.6−0.030%$8.8M$32.7M100xas long as short
MEXC ETH_USDT+0.0060%8h2,778.3−0.003%$1.60B$2.68B500xas long as short
SoDEX ETH-USD+0.0060%1h2,777.8−0.021%$55.3M$229.0M40xas long as short
Binance ETHUSDT+0.0061%8h2,778.3−0.003%$6.44B$17.23B150xas long as short
Aevo ETH-PERP+0.0064%1h2,776.1−0.082%$5.0M$636K20xas long as short
Bitget ETHUSDT+0.0065%8h2,778.1−0.009%$2.10B$3.10B150xas long as short
Gate ETH_USDTlong+0.0071%8h2,778.4long leg$3.30B$9.69B200x
HTX ETH-USDT+0.0087%8h2,778.2−0.008%$1.08B$1.32B200xas long as short
Bybit ETHUSDT+0.0091%8h2,778.5+0.005%$2.52B$4.63B150xas long as short
KuCoin ETHUSDTM+0.0093%8h2,778.3−0.002%$422.6M$739.5M100xas long as short
Vest ETH-PERP+0.0096%1h2,778.5+0.005%—$1.1M50xas long as short
Lighter ETH+0.0096%1h2,778.3−0.003%$115.3M$503.7M50xas long as short
Lighter RH ETH+0.0096%1h2,779.6+0.042%$25.4M$122.1M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,777.5−0.032%$16.0M$10.5M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,778.4+0.001%$478K$2.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,781.1+0.098%$3.20B$2.35B25xas long as short
Pacifica ETH+0.0100%1h2,778.1−0.010%$31.2M$303.9M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,777.2−0.042%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,779.7+0.047%$2.7M$17.2M25xas long as short
Bulk ETH-USD+0.0100%1h2,777.9−0.016%$168.1M$250.4M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,778.6+0.009%$15.1M$44.1M50xas long as short
Variational Omni ETH+0.0100%8h2,775.9−0.089%$147.5M$336.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,777−0.048%$181.7M$781.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,775.7−0.097%$161.4M$90.8M50xas long as short
StandX ETH-USD+0.0100%1h2,776.3−0.075%$21.4M$58.2M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,779.8+0.051%$10.8M$7.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,778.8+0.014%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,780.7+0.083%$42.8M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,777.8−0.022%$973K$13.9M100xas long as short
Extended ETH-USD+0.0104%1h2,777.5−0.031%$32.6M$77.5M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,779.3+0.032%—$41.8M500xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,779.2+0.030%$60.1M$4.61B50xas long as short
Kalshi KXETHPERP+0.0126%8h2,776.8−0.057%$8.4M$681.5M4.9xas long as short
Orderly PERP_ETH_USDC+0.0135%8h2,781.2+0.101%$32.6M$12.0M100xas long as short
Kraken Futures PF_ETHUSD+0.0169%1h2,779.1+0.027%$86.6M$332.6M100xas long as short
BloFin ETH-USDT+0.0181%8h2,776.5−0.069%$284.8M$194.9M150xas long as short
Reya ETHRUSDPERP+0.0196%1h2,778.3−0.003%$7.4M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0288%1h2,777.5−0.031%$270K$1.5M20xas long as short