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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 00:00 UTC+0.0038%/8h= +4.2% APRnext payment +$0.05 per $10,000 · paid last 24h +0.021%
Price spread now: Aevo against GMX−0.137%7-day average −0.092% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on GMXShort on Aevo
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.026%−$3 on $10k
Price spread, last 3 days (all we have)−0.013%−$1 · spread now −0.137%, 7d avg −0.092%
Together, before fees−0.040%−$4 on $10k · with fees, hour by hour
Funding pays, the price is against you. Aevo is 0.045% cheaper against GMX than usual: you would sell low and buy high (spread −0.137% now, against its 7-day average of −0.092%). If the spread goes back, that is −$5 on $10k: about 4.0 days of funding at the current rate (+$1 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGMX ETH/USD [ETH-USDC]2,775.2L +0.0026% / S +0.0009%pay 0.0003% / 1h31m 53s$12.9M—200x
ShortAevo ETH-PERP2,771.40.0064get 0.0008% / 1h31m 53s$5.0M$636K20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Aevo against GMX. 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
$7.96
Price spread: −0.137% → −0.092%
−$4.54
Slippage, 4 orders
no order book: not counted
Fee GMX: 6 bp × 2 orders
−$12
Fee Aevo: 8 bp × 2 orders
−$16
Net
−$24.58
Costs to cover
0.280%
Break-even
28.6 days
Slippage unknown: GMX: no order-book sample; Aevo: live order book, 2 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 GMX no order-book sample—————
Sell Aevo live order book, 2 min ago4.26 bp19.2 bp −$1931.7 bp −$31749.6 bp −$4,961doesn't fit
GMX: 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%43m2,774.3−0.035%$286K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0206%1h2,774.9−0.012%$5.6M$11.9M25xas long as short
Injective ETH/USDC PERP−0.0088%1h2,781.9+0.241%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,774.5−0.026%$5K$2K50xas long as short
ApeX Omni ETHUSDT−0.0049%1h2,775.4+0.006%$8.9M$32.8M100xas long as short
01 Exchange ETHUSD−0.0008%1h2,775.20.000%$168K$1.2M50xas long as short
dYdX ETH-USD0.0000%1h2,774.6−0.020%$12.7M$45.9M50xas long as short
Phoenix ETH+0.0003%1h2,778.6+0.122%$879K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,775.3+0.004%$22.4M—200xas long as short
Aftermath Perps ETHUSD+0.0011%1h2,777.2+0.071%$29K$22K20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDT+0.0016%8h2,773.6−0.057%—$1.21B—as long as short
OKX ETH-USDT-SWAP+0.0020%8h2,773.7−0.056%$1.70B$11.87B100xas long as short
GMX ETH/USD [ETH-USDC]longL +0.0026% / S +0.0009%1h2,775.2long leg$12.9M—200x
Phemex ETHUSDT+0.0031%8h2,774.5−0.026%$270.5M$69.0M150xas long as short
Aster ETHUSDT+0.0034%8h2,773.5−0.062%$256.4M$1.00B200xas long as short
Bullet ETH-USD+0.0048%1h2,774.4−0.028%$182K$1.7M20xas long as short
SoDEX ETH-USD+0.0048%1h2,773.5−0.062%$55.2M$229.1M40xas long as short
MEXC ETH_USDT+0.0061%8h2,773.5−0.061%$1.60B$2.64B500xas long as short
Binance ETHUSDT+0.0062%8h2,773.5−0.061%$6.45B$17.28B150xas long as short
Aevo ETH-PERPshort+0.0064%1h2,771.4−0.137%$5.0M$636K20x
Bitget ETHUSDT+0.0067%8h2,773.7−0.055%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0072%8h2,773.8−0.053%$3.29B$9.64B200xas long as short
Deribit ETH-PERPETUAL+0.0078%1h2,775.3+0.003%$259.0M$222.2M50xas long as short
KuCoin ETHUSDTM+0.0087%8h2,773.7−0.054%$421.5M$739.2M100xas long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,775−0.007%$60.0M$4.60B50xas long as short
Bybit ETHUSDT+0.0091%8h2,773.7−0.054%$2.51B$4.62B150xas long as short
Vest ETH-PERP+0.0095%1h2,775.1−0.006%—$1.1M50xas long as short
HTX ETH-USDT+0.0095%8h2,774−0.044%$1.08B$1.32B200xas long as short
Lighter ETH+0.0096%1h2,774.4−0.029%$116.0M$497.6M50xas long as short
Lighter RH ETH+0.0096%1h2,775.8+0.019%$25.3M$121.3M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,774.8−0.014%—$42.0M500xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,773.8−0.050%$15.9M$10.2M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,774.7−0.018%$478K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,774.8−0.014%$14.4M$118.1M50xas long as short
Hyperliquid ETH+0.0100%1h2,776.1+0.032%$3.19B$2.35B25xas long as short
Pacifica ETH+0.0100%1h2,775.1−0.004%$31.2M$310.5M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,774.3−0.033%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,775.9+0.026%$2.8M$17.2M25xas long as short
Bulk ETH-USD+0.0100%1h2,777.9+0.096%$167.7M$256.4M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,774−0.044%$15.1M$44.5M50xas long as short
Variational Omni ETH+0.0100%8h2,775.8+0.020%$147.4M$335.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,776.7+0.055%$182.3M$783.7M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,776.5+0.046%$161.4M$89.5M50xas long as short
StandX ETH-USD+0.0100%1h2,775.4+0.007%$21.5M$58.6M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,775.20.000%$10.7M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,775.1−0.004%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,776.4+0.042%$42.7M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,774.3−0.034%$972K$13.9M100xas long as short
Extended ETH-USD+0.0104%1h2,773.1−0.074%$32.7M$78.0M50xas long as short
Kalshi KXETHPERP+0.0117%8h2,775.20.000%$8.3M$684.9M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0123%1h2,774.7−0.018%$86.5M$333.5M100xas long as short
Orderly PERP_ETH_USDC+0.0140%8h2,777+0.065%$32.6M$12.1M100xas long as short
BloFin ETH-USDT+0.0182%8h2,774−0.044%$286.4M$194.2M150xas long as short
Reya ETHRUSDPERP+0.0201%1h2,774.6−0.023%$7.4M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,775.4+0.006%$252K$1.6M20xas long as short