ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0208%/8h= −22.8% APRnext payment −$0.26 per $10,000 · paid last 24h −0.025%

Price spread now: Deribit against Hibachi−0.199%7-day average +0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs+$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$240.243% of the position

Long on Hibachi Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.277%+$28 on $10k

Price spread, last 4 days (all we have)+0.151%+$15 · spread now −0.199%, 7d avg +0.010%

Together, before fees+0.427%+ Points / potential airdropHibachi: Active · farm board+$43 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Deribit is 0.209% cheaper against Hibachi than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of +0.010%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.277%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi ETH/USDT-P	2,732.1	0.0248	pay 0.0031% / 1h	47m 55s	$254K	$1.4M	20x
Short	Deribit ETH-PERPETUAL	2,726.7	0.0040	get 0.0005% / 1h	47m 55s	$260.1M	$196.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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

Position, each leg$Hold fordaysFee HibachibpFee DeribitbpOrdersPrice spread, now −0.199%Rate

Funding earned: −$43.68
Price spread: −0.199% → +0.010%: −$20.9
Slippage, 4 orders: −$8.34
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$88.93
Costs to cover: 0.243%
Break-even: never at this rate

Slippage from Hibachi: live order book, 1 min ago; Deribit: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Hibachi live order book, 1 min ago	0.02 bp	5.0 bp −$5	12.7 bp −$127	doesn't fit	doesn't fit
Sell Deribit live order book, 1 min ago	0.09 bp	5.0 bp −$5	6.2 bp −$62	12.9 bp −$1,293	31.7 bp −$15.8K

ETH on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ETH	−0.0447%	43m	2,727.7	−0.163%	$301K	$5.6M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,735.5	+0.123%	$117K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,732.1	−0.002%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,727.8	−0.158%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,727.6	−0.166%	$10.7M	$41.7M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,727.9	−0.155%	$181K	$834K	50x	as long as short
Phoenix ETH	0.0000%	1h	2,741.2	+0.332%	$834K	$2.9M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,727.9	−0.157%	$25.7M	—	200x	as long as short
Bullet ETH-USD	+0.0029%	1h	2,727.1	−0.186%	$180K	$1.7M	20x	as long as short
SoDEX ETH-USD	+0.0034%	1h	2,725.3	−0.250%	$54.3M	$187.6M	40x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ETH-PERPETUALshort	+0.0040%	1h	2,726.7	−0.199%	$260.1M	$196.7M	50x
BingX ETH-USDT	+0.0056%	8h	2,724.8	−0.270%	—	$1.14B	—	as long as short
KuCoin ETHUSDTM	+0.0071%	8h	2,725.4	−0.247%	$379.2M	$575.2M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0072%	8h	2,725.8	−0.233%	$1.66B	$10.65B	100x	as long as short
Aster ETHUSDT	+0.0082%	8h	2,725.6	−0.241%	$251.7M	$843.0M	200x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,726.6	−0.204%	$4.9M	$154K	20x	as long as short
Binance ETHUSDT	+0.0089%	8h	2,724.8	−0.269%	$6.33B	$15.82B	150x	as long as short
MEXC ETH_USDT	+0.0090%	8h	2,725.2	−0.254%	$1.53B	$2.54B	500x	as long as short
Lighter ETH	+0.0096%	1h	2,726	−0.224%	$111.9M	$434.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,727	−0.187%	$23.2M	$105.4M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,727.8	−0.160%	—	$30.4M	500x	as long as short
RISEx ETH/USDC	+0.0099%	1h	2,729.8	−0.086%	$5.6M	$11.5M	25x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,731.9	−0.008%	$15.8M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,728.3	−0.141%	$497K	$3.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,727.6	−0.166%	$13.8M	$104.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,727.8	−0.161%	$3.09B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,728.4	−0.137%	$31.6M	$333.8M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,724.4	−0.282%	$2.38B	$4.31B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,728.4	−0.137%	$2.7M	$16.9M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,729.9	−0.082%	$2.8M	$16.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,740.8	+0.315%	$166.9M	$306.7M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,725.1	−0.259%	$3.34B	$8.75B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,724.9	−0.265%	$2.07B	$2.75B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,725.2	−0.255%	$14.9M	$39.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,734.9	+0.101%	$133.1M	$324.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,738	+0.213%	$182.0M	$665.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,739	+0.250%	$159.4M	$84.4M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,735.3	+0.116%	$8.7M	$30.7M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,732.1	−0.002%	$21.1M	$69.6M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,729.8	−0.087%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,729	−0.115%	$10.9M	$8.8M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,727.4	−0.173%	$41.2M	$29.7M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,725.4	−0.248%	$955K	$11.4M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,724.7	−0.274%	$1.05B	$1.19B	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,725.8	−0.231%	$265.0M	$65.3M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,724.4	−0.284%	$30.4M	$72.5M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,726.7	−0.201%	$52.0M	$4.25B	50x	as long as short
Aftermath Perps ETHUSD	+0.0120%	1h	2,736.2	+0.148%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0155%	8h	2,729	−0.115%	$6.5M	$676.0M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0194%	8h	2,729.7	−0.090%	$32.1M	$11.5M	100x	as long as short
BloFin ETH-USDT	+0.0211%	8h	2,728	−0.152%	$284.8M	$173.9M	150x	as long as short
Kraken Futures PF_ETHUSD	+0.0223%	1h	2,726	−0.226%	$84.5M	$313.3M	100x	as long as short
Reya ETHRUSDPERP	+0.0224%	1h	2,726.7	−0.199%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-Plong	+0.0248%	1h	2,732.1	long leg	$254K	$1.4M	20x
Bluefin ETH-PERP	+0.0895%	1h	2,728	−0.153%	$21K	$20K	25x	as long as short