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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 06:00 UTC+0.0257%/8h= +28.1% APRnext payment +$0.32 per $10,000 · paid last 24h +0.069%
Price spread now: Kraken Futures against Hotstuff+0.050%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on HotstuffShort on Kraken Futures
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
Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Kraken Futures is 0.050% dearer against Hotstuff than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHotstuff ETH-PERP2,718.4−0.0080get 0.0010% / 1h39m 40s$5K$1K50x
ShortKraken Futures PF_ETHUSD2,719.80.0177get 0.0022% / 1h39m 40s$82.7M$316.5M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures 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
$53.87
Price spread: +0.050% → 0.000%
$5.02
Slippage, 4 orders
no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders
−$5
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$43.89
Costs to cover
0.150%
Break-even
1.3 days
Slippage unknown: Hotstuff: no order-book sample; Kraken Futures: 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 Kraken Futures live order book, 5 min ago0.18 bp6.3 bp −$67.7 bp −$779.1 bp −$91312.0 bp −$5,984
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%43m2,718.3−0.003%$282K$5.7M8.3xas long as short
Hotstuff ETH-PERPlong−0.0080%1h2,718.4long leg$5K$1K50x
HTX ETH-USDT−0.0014%8h2,717.9−0.020%$1.05B$1.21B200xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,719.1+0.025%$11.9M—200xas long as short
Phoenix ETH−0.0009%1h2,724.5+0.224%$815K$3.0M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,719.5+0.040%$27.9M—200xas long as short
Injective ETH/USDC PERP+0.0009%1h2,724+0.206%$117K$22.5M52xas long as short
dYdX ETH-USD+0.0015%1h2,719.1+0.025%$10.7M$42.3M50xas long as short
BingX ETH-USDC+0.0033%8h2,717.6−0.028%—$18.5M—as long as short
01 Exchange ETHUSD+0.0040%1h2,718.6+0.007%$185K$788K50xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit ETHUSDT+0.0041%8h2,718.1−0.010%$2.34B$4.41B150xas long as short
Deribit ETH-PERPETUAL+0.0044%1h2,720.2+0.065%$258.8M$204.7M50xas long as short
Aftermath Perps ETHUSD+0.0062%1h2,725+0.244%$30K$20K20xas long as short
SunX ETH-USDT+0.0064%8h2,718.5+0.005%$954K$11.2M100xas long as short
Bullet ETH-USD+0.0068%1h2,718.8+0.013%$178K$1.7M20xas long as short
KuCoin ETHUSDTM+0.0073%8h2,718.2−0.008%$375.0M$577.9M100xas long as short
Aevo ETH-PERP+0.0080%1h2,716.7−0.063%$4.9M$155K20xas long as short
Aster ETHUSDT+0.0080%8h2,718.1−0.012%$251.6M$845.0M200xas long as short
MEXC ETH_USDT+0.0086%8h2,718.40.000%$1.56B$2.56B500xas long as short
Binance ETHUSDT+0.0087%8h2,718.7+0.011%$6.30B$16.06B150xas long as short
OKX ETH-USDT-SWAP+0.0088%8h2,718.3−0.005%$1.65B$10.78B100xas long as short
Phemex ETHUSDT+0.0093%8h2,719.3+0.033%$263.0M$64.2M150xas long as short
Lighter ETH+0.0096%1h2,718.6+0.006%$111.1M$432.0M50xas long as short
Lighter RH ETH+0.0096%1h2,719.8+0.052%$23.3M$103.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,718.2−0.007%$497K$3.4M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,720.5+0.079%$15.3M$8.0M50xas long as short
Nado ETH-PERP+0.0100%1h2,717.2−0.044%$13.6M$105.0M50xas long as short
Hyperliquid ETH+0.0100%1h2,720.4+0.074%$3.08B$2.04B25xas long as short
Pacifica ETH+0.0100%1h2,719.5+0.040%$31.8M$334.4M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,718−0.015%$2.7M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,718.6+0.008%$1.5M$16.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,723.8+0.200%$163.8M$329.7M25xas long as short
Gate ETH_USDT+0.0100%8h2,718.3−0.005%$3.31B$8.89B200xas long as short
Bitget ETHUSDT+0.0100%8h2,718.1−0.012%$2.07B$2.76B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,719+0.022%$14.9M$43.1M50xas long as short
Variational Omni ETH+0.0100%8h2,720.3+0.070%$133.3M$326.0M—as long as short
edgeX ETHUSDC+0.0100%4h2,724.8+0.236%$183.0M$671.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,726.9+0.314%$158.6M$87.3M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,724.6+0.227%$8.7M$31.2M100xas long as short
StandX ETH-USD+0.0100%1h2,722.9+0.166%$20.9M$72.9M40xas long as short
Vest ETH-PERP+0.0100%1h2,720.3+0.071%—$876K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,719.9+0.055%$11.1M$9.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,719.4+0.036%$22K$21K25xas long as short
Derive ETH-PERP+0.0100%1h2,720.5+0.077%$40.8M$30.1M15xas long as short
SoDEX ETH-USD+0.0100%1h2,719.2+0.029%$54.1M$187.9M40xas long as short
Extended ETH-USD+0.0104%1h2,717.3−0.041%$30.5M$74.3M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,718.5+0.003%—$31.3M500xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,720.3+0.071%$49.8M$4.28B50xas long as short
RISEx ETH/USDC+0.0108%1h2,718−0.015%$5.5M$11.7M25xas long as short
Kalshi KXETHPERP+0.0158%8h2,719.2+0.029%$6.2M$690.6M4.9xas long as short
Kraken Futures PF_ETHUSDshort+0.0177%1h2,719.8+0.050%$82.7M$316.5M100x
Orderly PERP_ETH_USDC+0.0188%8h2,721.7+0.123%$32.0M$11.5M100xas long as short
Reya ETHRUSDPERP+0.0202%1h2,717.8−0.021%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0240%1h2,722.9+0.164%$249K$1.4M20xas long as short
BloFin ETH-USDT+0.0346%8h2,717.8−0.022%$281.5M$174.1M150xas long as short