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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 04:00 UTC+0.0110%/8h= +12.0% APRpaid last 24h +0.028%
Price spread now: Variational Omni against GMX−0.058%7-day average −0.032% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on GMXShort on Variational Omni
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.002%$0 on $10k
Price spread, last 4 days (all we have)+0.036%+$4 · spread now −0.058%, 7d avg −0.032%
Together, before fees+0.034%+ Points / potential airdropVariational Omni: Active · farm board+$3 on $10k · with fees, hour by hour
Funding pays, the price is against you. Variational Omni is 0.026% cheaper against GMX than usual: you would sell low and buy high (spread −0.058% now, against its 7-day average of −0.032%). If the spread goes back, that is −$3 on $10k: about 19 hours of funding at the current rate (+$3 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGMX ETH/USD [ETH-USDC]2,733.6L −0.0010% / S +0.0043%get 0.0001% / 1h4m 44s$11.9M—200x
ShortVariational Omni ETH2,7320.0100get 0.0100% / 8h4h 04m$133.7M$324.6M—

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Variational Omni 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
$23.04
Price spread: −0.058% → −0.032%
−$2.65
Slippage, 4 orders
no order book: not counted
Fee GMX: 6 bp × 2 orders
−$12
Fee Variational Omni: 0 bp × 2 orders
$0
Net
$8.4
Costs to cover
0.120%
Break-even
4.4 days
Slippage unknown: GMX: no order-book sample; Variational Omni: RFQ quote, 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 Variational Omni RFQ quote, 4 min ago0.47 bpdoesn't fit0.7 bp −$73.2 bp −$322doesn'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%43m2,733.1−0.017%$297K$5.6M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,734.2+0.023%$117K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,733.8+0.008%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]longL −0.0010% / S +0.0043%1h2,733.6long leg$11.9M—200x
01 Exchange ETHUSD0.0000%1h2,734.2+0.023%$187K$821K50xas long as short
Phoenix ETH0.0000%1h2,733.9+0.012%$826K$2.9M25xas long as short
dYdX ETH-USD0.0000%1h2,733−0.021%$10.7M$41.9M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,733.6+0.002%$28.1M—200xas long as short
Bullet ETH-USD+0.0014%1h2,733.3−0.010%$178K$1.7M20xas long as short
HTX ETH-USDT+0.0021%8h2,732.3−0.046%$1.06B$1.20B200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDT+0.0044%8h2,733.7+0.004%—$1.15B—as long as short
Bybit ETHUSDT+0.0054%8h2,733.4−0.006%$2.38B$4.35B150xas long as short
ApeX Omni ETHUSDT+0.0063%1h2,732.3−0.048%$8.7M$31.3M100xas long as short
KuCoin ETHUSDTM+0.0066%8h2,733.60.000%$380.3M$573.5M100xas long as short
OKX ETH-USDT-SWAP+0.0075%8h2,733.7+0.003%$1.67B$10.71B100xas long as short
Phemex ETHUSDT+0.0081%8h2,733.2−0.014%$265.6M$65.2M150xas long as short
Aster ETHUSDT+0.0085%8h2,733.5−0.005%$251.0M$841.9M200xas long as short
MEXC ETH_USDT+0.0094%8h2,733.6+0.001%$1.55B$2.57B500xas long as short
Binance ETHUSDT+0.0095%8h2,733.7+0.003%$6.35B$15.87B150xas long as short
Lighter ETH+0.0096%1h2,733.7+0.006%$112.8M$441.9M50xas long as short
Lighter RH ETH+0.0096%1h2,734.9+0.046%$23.5M$106.8M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,733.1−0.016%—$30.9M500xas long as short
Aevo ETH-PERP+0.0096%1h2,730.8−0.100%$4.9M$155K20xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,737.1+0.128%$15.5M$8.0M50xas long as short
RISEx ETH/USDC+0.0099%1h2,734.4+0.030%$5.6M$11.7M25xas long as short
Katana Perps ETH-USD+0.0100%8h2,733.5−0.003%$500K$3.3M50xas long as short
Nado ETH-PERP+0.0100%1h2,733.3−0.011%$13.6M$104.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,735.6+0.074%$3.10B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,734.4+0.029%$32.0M$335.0M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,732.7−0.032%$2.7M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,734.4+0.030%$1.6M$16.0M25xas long as short
Bulk ETH-USD+0.0100%1h2,733.7+0.003%$169.4M$313.3M25xas long as short
Gate ETH_USDT+0.0100%8h2,733.8+0.007%$3.34B$8.93B200xas long as short
Bitget ETHUSDT+0.0100%8h2,733.7+0.004%$2.07B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,732.1−0.055%$15.0M$39.6M50xas long as short
Variational Omni ETHshort+0.0100%8h2,732−0.058%$133.7M$324.6M—
edgeX ETHUSDC+0.0100%4h2,732.4−0.045%$183.8M$670.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,733.60.000%$159.0M$86.4M50xas long as short
StandX ETH-USD+0.0100%1h2,733.5−0.003%$21.1M$68.2M40xas long as short
Vest ETH-PERP+0.0100%1h2,734.2+0.023%—$843K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,735+0.052%$11.2M$9.3M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,733.5−0.003%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,735+0.050%$41.3M$29.8M15xas long as short
SunX ETH-USDT+0.0100%8h2,732.2−0.051%$958K$11.3M100xas long as short
SoDEX ETH-USD+0.0100%1h2,733.2−0.014%$54.4M$187.6M40xas long as short
Extended ETH-USD+0.0104%1h2,732.9−0.026%$30.4M$72.9M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,734.3+0.024%$51.3M$4.27B50xas long as short
Aftermath Perps ETHUSD+0.0118%1h2,734+0.016%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0131%8h2,733.4−0.007%$6.7M$678.6M4.9xas long as short
Deribit ETH-PERPETUAL+0.0149%1h2,734.7+0.039%$259.6M$196.3M50xas long as short
Orderly PERP_ETH_USDC+0.0197%8h2,735.6+0.073%$32.2M$11.7M100xas long as short
Reya ETHRUSDPERP+0.0217%1h2,732.8−0.029%$7.3M$1.2M25xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,733.9+0.012%$83.2M$314.8M100xas long as short
Hibachi ETH/USDT-P+0.0280%1h2,734+0.015%$249K$1.4M20xas long as short
BloFin ETH-USDT+0.0378%8h2,733.5−0.004%$283.3M$175.7M150xas long as short