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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 23:00 UTC+0.0072%/8h= +7.8% APRnext payment +$0.09 per $10,000 · paid last 24h +0.026%
Price spread now: Arcus against GMX−0.005%7-day average +0.004% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on GMXShort on Arcus
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.004%$0 on $10k
Price spread, last 3 days (all we have)−0.035%−$4 · spread now −0.005%, 7d avg +0.004%
Together, before fees−0.039%−$4 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.004%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGMX ETH/USD [ETH-USDC]2,776.9L +0.0028% / S +0.0009%pay 0.0004% / 1h55m 18s$13.2M—200x
ShortArcus ETH-USD2,776.80.0100get 0.0013% / 1h55m 18s$2.8M$17.4M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Arcus 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
$15.04
Price spread: −0.005% → +0.004%
−$0.86
Slippage, 4 orders
no order book: not counted
Fee GMX: 6 bp × 2 orders
−$12
Fee Arcus: 2.25 bp × 2 orders
−$4.5
Net
−$2.32
Costs to cover
0.165%
Break-even
8.1 days
Slippage unknown: GMX: no order-book sample; Arcus: live order book, 4 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 Arcus live order book, 4 min ago0.27 bp2.9 bp −$33.3 bp −$335.3 bp −$529doesn'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%43m2,776−0.031%$290K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,775.1−0.066%$5.8M$12.1M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,775.3−0.058%$5K$2K50xas long as short
01 Exchange ETHUSD−0.0048%1h2,777.3+0.014%$169K$1.2M50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,773.8−0.112%$119K$22.5M52xas long as short
Phoenix ETH−0.0023%1h2,775.6−0.047%$886K$3.7M25xas long as short
Nado ETH-PERP−0.0011%1h2,776.7−0.007%$14.3M$118.9M50xas long as short
dYdX ETH-USD0.0000%1h2,775.6−0.047%$12.7M$45.5M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,776.9−0.002%$22.4M—200xas long as short
Aftermath Perps ETHUSD+0.0008%1h2,772.1−0.172%$29K$22K20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi ETH/USDT-P+0.0016%1h2,774.8−0.077%$279K$1.5M20xas long as short
BingX ETH-USDT+0.0018%8h2,776.1−0.031%—$1.19B—as long as short
OKX ETH-USDT-SWAP+0.0022%8h2,775.5−0.050%$1.71B$11.89B100xas long as short
Phemex ETHUSDT+0.0024%8h2,776.4−0.020%$267.4M$65.9M150xas long as short
GMX ETH/USD [ETH-USDC]longL +0.0028% / S +0.0009%1h2,776.9long leg$13.2M—200x
Aster ETHUSDT+0.0033%8h2,776−0.032%$256.7M$993.7M200xas long as short
Bullet ETH-USD+0.0049%1h2,776.2−0.025%$183K$1.8M20xas long as short
MEXC ETH_USDT+0.0052%8h2,776.6−0.010%$1.60B$2.63B500xas long as short
Binance ETHUSDT+0.0053%8h2,776.6−0.012%$6.44B$17.20B150xas long as short
Aevo ETH-PERP+0.0056%1h2,776.90.000%$5.0M$636K20xas long as short
Bitget ETHUSDT+0.0074%8h2,775.4−0.054%$2.10B$3.12B150xas long as short
Gate ETH_USDT+0.0080%8h2,776.6−0.012%$3.29B$9.53B200xas long as short
Deribit ETH-PERPETUAL+0.0081%1h2,776.90.000%$258.4M$225.0M50xas long as short
Lighter ETH+0.0096%1h2,776.6−0.012%$115.2M$494.5M50xas long as short
Lighter RH ETH+0.0096%1h2,776.4−0.018%$25.4M$120.5M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,774.1−0.101%—$41.8M500xas long as short
HTX ETH-USDT+0.0098%8h2,775.7−0.043%$1.08B$1.32B200xas long as short
Variational Omni ETH+0.0098%8h2,772.1−0.171%$135.2M$326.5M—as long as short
Paradex ETH-USD-PERP+0.0100%8h2,775−0.068%$15.9M$10.7M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,775.8−0.040%$482K$2.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,779.2+0.083%$3.20B$2.40B25xas long as short
Pacifica ETH+0.0100%1h2,775.4−0.055%$31.3M$293.6M50xas long as short
Bybit ETHUSDT+0.0100%8h2,775.8−0.040%$2.52B$4.63B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,774.3−0.094%$2.8M$16.8M25xas long as short
Arcus ETH-USDshort+0.0100%1h2,776.8−0.005%$2.8M$17.4M25x
Bulk ETH-USD+0.0100%1h2,771−0.214%$164.2M$249.6M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,776.9−0.001%$423.1M$740.2M100xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,773.8−0.113%$15.2M$44.0M50xas long as short
edgeX ETHUSDC+0.0100%4h2,768.2−0.315%$179.4M$778.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,770.8−0.220%$161.2M$96.1M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,767.8−0.327%$8.7M$32.6M100xas long as short
StandX ETH-USD+0.0100%1h2,769.7−0.260%$21.4M$57.9M40xas long as short
Vest ETH-PERP+0.0100%1h2,776.2−0.024%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,778.4+0.054%$10.8M$7.7M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,776.5−0.015%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,777.6+0.025%$42.7M$29.3M15xas long as short
SunX ETH-USDT+0.0100%8h2,775.4−0.053%$972K$14.1M100xas long as short
SoDEX ETH-USD+0.0100%1h2,775.4−0.054%$55.3M$228.6M40xas long as short
Extended ETH-USD+0.0104%1h2,774.9−0.074%$31.5M$75.3M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,777+0.003%$60.0M$4.62B50xas long as short
Kalshi KXETHPERP+0.0109%8h2,774.3−0.094%$8.6M$673.3M4.9xas long as short
Orderly PERP_ETH_USDC+0.0137%8h2,778.3+0.051%$32.6M$12.0M100xas long as short
Kraken Futures PF_ETHUSD+0.0170%1h2,776.8−0.003%$86.2M$331.6M100xas long as short
BloFin ETH-USDT+0.0173%8h2,775.7−0.045%$286.5M$195.2M150xas long as short
Reya ETHRUSDPERP+0.0187%1h2,777.1+0.007%$7.4M$1.1M25xas long as short