ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0248%/8h= −27.2% APRnext payment −$0.31 per $10,000 · paid last 24h −0.043%

Price spread now: Phoenix against Hibachi+0.059%7-day average +0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs+$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$200.202% of the position

Long on Hibachi Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.308%+$31 on $10k

Price spread, last 7 days−0.001%$0 · spread now +0.059%, 7d avg +0.065%

Together, before fees+0.307%+ Points / potential airdropHibachi: Active · farm board+$31 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.065%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.308%, 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	2,739.6	0.0248	pay 0.0031% / 1h	50m 43s	$252K	$1.4M	20x
Short	Phoenix ETH	2,741.2	0	get 0.0000% / 1h	50m 43s	$832K	$2.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.059%Rate

Funding earned: −$52.08
Price spread: +0.059% → +0.065%: −$0.56
Slippage, 4 orders: −$4.2
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$72.84
Costs to cover: 0.202%
Break-even: never at this rate

Slippage from Hibachi: live order book, 3 min ago; Phoenix: live order book, 8 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, 3 min ago	0.02 bp	5.7 bp −$6	10.7 bp −$107	doesn't fit	doesn't fit
Sell Phoenix live order book, 8 min ago	0.18 bp	4.2 bp −$4	7.6 bp −$76	16.7 bp −$1,672	doesn't fit

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	2,735.2	−0.161%	$300K	$5.5M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,739.3	−0.010%	$118K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,736.3	−0.120%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,736.5	−0.113%	$12.0M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,734.9	−0.170%	$10.8M	$41.7M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,736.3	−0.120%	$181K	$834K	50x	as long as short
Phoenix ETHshort	0.0000%	1h	2,741.2	+0.059%	$832K	$2.9M	25x
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,736.1	−0.126%	$25.7M	—	200x	as long as short
Bullet ETH-USD	+0.0047%	1h	2,735.9	−0.134%	$180K	$1.7M	20x	as long as short
SoDEX ETH-USD	+0.0049%	1h	2,735.8	−0.138%	$54.5M	$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
BingX ETH-USDT	+0.0056%	8h	2,737.6	−0.073%	—	$1.14B	—	as long as short
OKX ETH-USDT-SWAP	+0.0071%	8h	2,734.7	−0.177%	$1.68B	$10.60B	100x	as long as short
KuCoin ETHUSDTM	+0.0072%	8h	2,737.7	−0.067%	$381.2M	$573.3M	100x	as long as short
Aster ETHUSDT	+0.0084%	8h	2,737.2	−0.088%	$253.1M	$840.4M	200x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,733.1	−0.235%	$4.9M	$154K	20x	as long as short
MEXC ETH_USDT	+0.0091%	8h	2,737.7	−0.069%	$1.56B	$2.52B	500x	as long as short
Binance ETHUSDT	+0.0091%	8h	2,734.7	−0.179%	$6.35B	$15.71B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,734.9	−0.169%	$112.6M	$432.3M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,737	−0.093%	$24.1M	$103.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,735.5	−0.148%	—	$30.5M	500x	as long as short
RISEx ETH/USDC	+0.0099%	1h	2,736.3	−0.119%	$5.6M	$11.4M	25x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,739.5	−0.002%	$15.8M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,735.2	−0.160%	$499K	$3.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,735.5	−0.149%	$13.9M	$104.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,739.7	+0.005%	$3.11B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,736.4	−0.116%	$31.6M	$335.1M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,734.6	−0.182%	$2.43B	$4.19B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,735.3	−0.156%	$2.7M	$16.9M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,736	−0.131%	$2.8M	$16.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,740.8	+0.043%	$166.9M	$306.7M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,737.8	−0.067%	$3.39B	$8.69B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,737.6	−0.072%	$2.08B	$2.72B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,736.1	−0.128%	$15.0M	$39.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,734.9	−0.171%	$133.1M	$324.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,738	−0.059%	$182.0M	$665.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,739	−0.022%	$159.4M	$84.4M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,738	−0.059%	$8.7M	$30.7M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,739.3	−0.010%	$21.1M	$69.6M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,736.9	−0.098%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,737.2	−0.087%	$10.9M	$8.8M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,737.3	−0.084%	$41.4M	$29.7M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,735.3	−0.156%	$960K	$11.4M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,735.8	−0.138%	$1.06B	$1.18B	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,736	−0.131%	$265.9M	$65.1M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,736.8	−0.102%	$30.6M	$72.4M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,737.5	−0.077%	$51.1M	$4.26B	50x	as long as short
Aftermath Perps ETHUSD	+0.0123%	1h	2,739	−0.019%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0156%	8h	2,736.3	−0.120%	$7.7M	$672.9M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0194%	8h	2,737.8	−0.066%	$32.2M	$11.4M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0196%	1h	2,737.5	−0.077%	$260.0M	$194.6M	50x	as long as short
BloFin ETH-USDT	+0.0211%	8h	2,735.5	−0.148%	$285.2M	$172.6M	150x	as long as short
Kraken Futures PF_ETHUSD	+0.0222%	1h	2,736.6	−0.108%	$85.6M	$310.0M	100x	as long as short
Reya ETHRUSDPERP	+0.0224%	1h	2,735.3	−0.157%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-Plong	+0.0248%	1h	2,739.6	long leg	$252K	$1.4M	20x
Bluefin ETH-PERP	+0.1422%	1h	2,736.1	−0.126%	$21K	$20K	25x	as long as short