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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−0.0196%/8h= −21.5% APRnext payment −$0.24 per $10,000 · paid last 24h −0.028%
Price spread now: Bulk against Hibachi−0.021%7-day average −0.021% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$18as in the Price arb table
costs, in and out, $10k−$180.180% of the position
Long on HibachiShort on Bulk
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.077%+$8 on $10k
Price spread, last 7 days−0.023%−$2 · spread now −0.021%, 7d avg −0.021%
Together, before fees+0.054%+ Points / potential airdropHibachi: Active · farm board+$5 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.021%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair paid +0.077%, so the current rate has only just turned against you.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHibachi ETH/USDT-P2,778.50.0296pay 0.0037% / 1h57m 53s$270K$1.5M20x
ShortBulk ETH-USD2,777.90.0100get 0.0013% / 1h57m 53s$168.1M$250.4M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bulk against Hibachi. 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
−$41.16
Price spread: −0.021% → −0.021%
$0.02
Slippage, 4 orders
−$2.02
Fee Hibachi: 4.5 bp × 2 orders
−$9
Fee Bulk: 3.5 bp × 2 orders
−$7
Net
−$59.16
Costs to cover
0.180%
Break-even
never at this rate
Slippage from Hibachi: live order book, 1 min ago; Bulk: live order book, 1 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 Hibachi live order book, 1 min ago0.02 bp5.5 bp −$69.8 bp −$98doesn't fitdoesn't fit
Sell Bulk live order book, 1 min ago0.02 bp3.5 bp −$43.5 bp −$354.1 bp −$4115.4 bp −$2,725

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%43m2,778.50.000%$288K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0206%1h2,778.6+0.001%$5.7M$11.9M25xas long as short
Injective ETH/USDC PERP−0.0088%1h2,777.3−0.044%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,778−0.019%$5K$2K50xas long as short
01 Exchange ETHUSD−0.0032%1h2,779.4+0.031%$169K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0002%1h2,777.4−0.040%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,777.9−0.023%$12.7M$45.9M50xas long as short
Phoenix ETH0.0000%1h2,777.6−0.033%$881K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,779.8+0.045%$22.4M—200xas long as short
BingX ETH-USDC+0.0014%8h2,779.2+0.023%—$17.4M—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0018%8h2,778.9+0.015%$1.70B$11.89B100xas long as short
Bullet ETH-USD+0.0021%1h2,779+0.016%$181K$1.7M20xas long as short
Phemex ETHUSDT+0.0022%8h2,779.2+0.023%$270.7M$68.8M150xas long as short
GMX ETH/USD [ETH-USDC]L +0.0027% / S +0.0009%1h2,779.7+0.041%$13.0M—200xas long as short
Aster ETHUSDT+0.0034%8h2,779.7+0.042%$255.0M$995.9M200xas long as short
Nado ETH-PERP+0.0035%1h2,779.4+0.030%$14.3M$118.2M50xas long as short
ApeX Omni ETHUSDT+0.0058%1h2,777.6−0.035%$8.8M$32.7M100xas long as short
MEXC ETH_USDT+0.0061%8h2,779.7+0.043%$1.60B$2.62B500xas long as short
Binance ETHUSDT+0.0061%8h2,779.2+0.023%$6.45B$17.23B150xas long as short
Bitget ETHUSDT+0.0064%8h2,779+0.016%$2.10B$3.10B150xas long as short
Aevo ETH-PERP+0.0064%1h2,777.7−0.029%$5.0M$636K20xas long as short
SoDEX ETH-USD+0.0069%1h2,778.7+0.006%$55.3M$229.0M40xas long as short
Deribit ETH-PERPETUAL+0.0070%1h2,780.5+0.072%$258.7M$222.8M50xas long as short
Gate ETH_USDT+0.0071%8h2,779.5+0.034%$3.30B$9.56B200xas long as short
HTX ETH-USDT+0.0087%8h2,778.9+0.012%$1.08B$1.32B200xas long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,780+0.054%$60.1M$4.61B50xas long as short
Bybit ETHUSDT+0.0091%8h2,779+0.018%$2.52B$4.63B150xas long as short
KuCoin ETHUSDTM+0.0092%8h2,780.1+0.057%$423.7M$739.5M100xas long as short
Vest ETH-PERP+0.0096%1h2,779.3+0.029%—$1.1M50xas long as short
Lighter ETH+0.0096%1h2,779.6+0.040%$115.2M$492.7M50xas long as short
Lighter RH ETH+0.0096%1h2,780.8+0.083%$25.5M$120.3M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,778.3−0.008%$16.0M$10.5M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,779.2+0.024%$478K$2.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,781.8+0.118%$3.20B$2.35B25xas long as short
Pacifica ETH+0.0100%1h2,779.1+0.021%$31.3M$306.5M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,777.9−0.023%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,780.1+0.056%$2.7M$17.2M25xas long as short
Bulk ETH-USDshort+0.0100%1h2,777.9−0.021%$168.1M$250.4M25x
Backpack ETH_USDC_PERP+0.0100%1h2,779.6+0.037%$15.1M$44.1M50xas long as short
Variational Omni ETH+0.0100%8h2,775.9−0.094%$147.5M$336.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,777−0.054%$181.7M$781.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,776.9−0.059%$161.5M$90.7M50xas long as short
StandX ETH-USD+0.0100%1h2,778.5−0.001%$21.5M$58.2M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,781.2+0.096%$10.8M$7.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,779.7+0.042%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,781.3+0.101%$42.8M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,779.2+0.024%$974K$13.9M100xas long as short
Extended ETH-USD+0.0104%1h2,779.6+0.040%$32.6M$77.5M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,780.3+0.063%—$41.8M500xas long as short
Kraken Futures PF_ETHUSD+0.0123%1h2,780.1+0.055%$86.6M$332.7M100xas long as short
Kalshi KXETHPERP+0.0124%8h2,778.8+0.010%$8.3M$681.7M4.9xas long as short
Orderly PERP_ETH_USDC+0.0135%8h2,782+0.123%$32.6M$12.0M100xas long as short
BloFin ETH-USDT+0.0181%8h2,776.8−0.063%$285.0M$195.0M150xas long as short
Reya ETHRUSDPERP+0.0196%1h2,779.7+0.042%$7.4M$1.2M25xas long as short
Hibachi ETH/USDT-Plong+0.0296%1h2,778.5long leg$270K$1.5M20x