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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 05:00 UTC+0.0122%/8h= +13.3% APRpaid last 24h +0.051%
Price spread now: Bybit against Hotstuff−0.066%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on HotstuffShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories
Funding pays, the price is against you. Bybit is 0.066% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.066% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 44 hours of funding at the current rate (+$4 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHotstuff ETH-PERP2,737.7−0.0080get 0.0010% / 1h33m 58s$5K$1K50x
ShortBybit ETHUSDT2,735.90.0042get 0.0042% / 8h3h 33m$2.37B$4.37B150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit against Hotstuff. 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
$25.53
Price spread: −0.066% → 0.000%
−$6.61
Slippage, 4 orders
no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders
−$5
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
$2.92
Costs to cover
0.160%
Break-even
6.2 days
Slippage unknown: Hotstuff: no order-book sample; Bybit: live order book, 5 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 Hotstuff no order-book sample—————
Sell Bybit live order book, 5 min ago0.02 bp5.5 bp −$65.5 bp −$557.2 bp −$7179.5 bp −$4,736
Hotstuff: 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%43m2,736.7−0.037%$297K$5.6M8.3xas long as short
Hotstuff ETH-PERPlong−0.0080%1h2,737.7long leg$5K$1K50x
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,736.7−0.038%$11.9M—200xas long as short
Phoenix ETH−0.0006%1h2,738.9+0.044%$823K$2.9M25xas long as short
HTX ETH-USDT+0.0002%8h2,735.2−0.093%$1.06B$1.20B200xas long as short
dYdX ETH-USD+0.0005%1h2,737.1−0.022%$10.8M$42.0M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,736.7−0.037%$28.1M—200xas long as short
Bullet ETH-USD+0.0027%1h2,736.2−0.055%$180K$1.7M20xas long as short
BingX ETH-USDC+0.0032%8h2,735.7−0.073%—$18.5M—as long as short
Deribit ETH-PERPETUAL+0.0039%1h2,737.1−0.022%$259.5M$200.1M50xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit ETHUSDTshort+0.0042%8h2,735.9−0.066%$2.37B$4.37B150x
ApeX Omni ETHUSDT+0.0044%1h2,737.4−0.011%$8.7M$31.2M100xas long as short
01 Exchange ETHUSD+0.0056%1h2,737.1−0.022%$187K$817K50xas long as short
KuCoin ETHUSDTM+0.0067%8h2,736−0.061%$381.6M$573.8M100xas long as short
OKX ETH-USDT-SWAP+0.0076%8h2,735.7−0.072%$1.67B$10.74B100xas long as short
Phemex ETHUSDT+0.0079%8h2,735.9−0.064%$265.3M$65.1M150xas long as short
Aster ETHUSDT+0.0084%8h2,736.3−0.051%$251.3M$842.4M200xas long as short
SunX ETH-USDT+0.0086%8h2,736.1−0.059%$960K$11.2M100xas long as short
MEXC ETH_USDT+0.0093%8h2,735.9−0.065%$1.56B$2.56B500xas long as short
Binance ETHUSDT+0.0093%8h2,736.1−0.060%$6.36B$15.89B150xas long as short
Lighter ETH+0.0096%1h2,736.3−0.050%$112.9M$432.1M50xas long as short
Lighter RH ETH+0.0096%1h2,737.5−0.007%$23.4M$104.2M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,737.2−0.017%—$30.9M500xas long as short
Aevo ETH-PERP+0.0096%1h2,736.7−0.037%$4.9M$155K20xas long as short
Injective ETH/USDC PERP+0.0096%1h2,737.8+0.004%$117K$22.5M52xas long as short
SoDEX ETH-USD+0.0099%1h2,735.8−0.069%$54.5M$187.7M40xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,740.4+0.098%$15.6M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,736.3−0.051%$505K$3.3M50xas long as short
Nado ETH-PERP+0.0100%1h2,737.1−0.022%$13.8M$104.5M50xas long as short
Hyperliquid ETH+0.0100%1h2,738.4+0.026%$3.11B$2.04B25xas long as short
Pacifica ETH+0.0100%1h2,737.8+0.004%$32.1M$333.7M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,736.2−0.055%$2.7M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,737.3−0.014%$1.5M$15.9M25xas long as short
Gate ETH_USDT+0.0100%8h2,736−0.061%$3.34B$8.88B200xas long as short
Bitget ETHUSDT+0.0100%8h2,736−0.062%$2.07B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,735.5−0.079%$15.2M$40.6M50xas long as short
Variational Omni ETH+0.0100%8h2,735.4−0.085%$133.6M$322.1M—as long as short
edgeX ETHUSDC+0.0100%4h2,737.2−0.019%$184.1M$670.7M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,735.9−0.064%$159.2M$87.0M50xas long as short
StandX ETH-USD+0.0100%1h2,738+0.011%$21.1M$69.3M40xas long as short
Vest ETH-PERP+0.0100%1h2,737.3−0.014%—$844K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,737.6−0.004%$11.2M$9.2M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,737.2−0.018%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,738+0.009%$41.3M$29.9M15xas long as short
Bulk ETH-USD+0.0100%1h2,739.4+0.061%$170.6M$337.3M25xas long as short
Extended ETH-USD+0.0104%1h2,735−0.100%$30.6M$73.0M50xas long as short
RISEx ETH/USDC+0.0107%1h2,737.3−0.016%$5.6M$11.7M25xas long as short
Aftermath Perps ETHUSD+0.0111%1h2,737.6−0.005%$30K$20K20xas long as short
Coinbase International ETH-PERP-INTX+0.0120%1h2,736.6−0.040%$51.0M$4.28B50xas long as short
Kalshi KXETHPERP+0.0142%8h2,737.4−0.011%$6.5M$682.9M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0153%1h2,736.3−0.050%$83.4M$315.2M100xas long as short
Orderly PERP_ETH_USDC+0.0199%8h2,738.5+0.030%$32.2M$11.7M100xas long as short
Reya ETHRUSDPERP+0.0212%1h2,735.1−0.095%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0264%1h2,737.3−0.016%$245K$1.4M20xas long as short
BloFin ETH-USDT+0.0375%8h2,736.7−0.038%$283.5M$175.3M150xas long as short