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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 00:00 UTC+0.0107%/8h= +11.7% APRpaid last 24h +0.042%
Price spread now: Phemex against Hotstuff−0.089%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 Phemex
What this pair did over the last
the charts below follow
Funding, last 3 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. Phemex is 0.089% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.089% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 2.8 days of funding at the current rate (+$3 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHotstuff ETH-PERP2,772.5−0.0080get 0.0010% / 1h9m 20s$5K$2K50x
ShortPhemex ETHUSDT2,7700.0027get 0.0027% / 8h9m 20s$270.0M$68.9M150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex 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
$22.37
Price spread: −0.089% → 0.000%
−$8.94
Slippage, 4 orders
no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders
−$5
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$3.57
Costs to cover
0.170%
Break-even
8.1 days
Slippage unknown: Hotstuff: no order-book sample; Phemex: 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 Phemex live order book, 5 min ago0.02 bp6.0 bp −$67.4 bp −$7411.3 bp −$1,13315.3 bp −$7,629
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−0.0223%43m2,770.2−0.083%$286K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0206%1h2,769.8−0.097%$5.6M$11.9M25xas long as short
Injective ETH/USDC PERP−0.0088%1h2,762.1−0.375%$119K$22.5M52xas long as short
Hotstuff ETH-PERPlong−0.0080%1h2,772.5long leg$5K$2K50x
ApeX Omni ETHUSDT−0.0023%1h2,770.5−0.072%$8.7M$32.9M100xas long as short
01 Exchange ETHUSD−0.0008%1h2,770.1−0.087%$168K$1.2M50xas long as short
dYdX ETH-USD0.0000%1h2,771.3−0.043%$12.7M$45.9M50xas long as short
Phoenix ETH+0.0003%1h2,771.5−0.036%$876K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,771.4−0.040%$22.4M—200xas long as short
OKX ETH-USDT-SWAP+0.0021%8h2,770.8−0.063%$1.71B$11.88B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX ETH/USD [ETH-USDC]L +0.0026% / S +0.0009%1h2,771.3−0.044%$12.8M—200xas long as short
Phemex ETHUSDTshort+0.0027%8h2,770−0.089%$270.0M$68.9M150x
Aftermath Perps ETHUSD+0.0028%1h2,771.6−0.033%$29K$22K20xas long as short
Aster ETHUSDT+0.0031%8h2,771−0.055%$255.7M$1.00B200xas long as short
SoDEX ETH-USD+0.0032%1h2,770.3−0.079%$55.2M$228.8M40xas long as short
Bullet ETH-USD+0.0037%1h2,770.6−0.067%$181K$1.7M20xas long as short
Binance ETHUSDT+0.0056%8h2,770.6−0.070%$6.45B$17.30B150xas long as short
MEXC ETH_USDT+0.0056%8h2,770.7−0.066%$1.62B$2.66B500xas long as short
Aevo ETH-PERP+0.0056%1h2,771.6−0.032%$5.0M$636K20xas long as short
Bitget ETHUSDT+0.0065%8h2,770.6−0.068%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0067%8h2,770.8−0.060%$3.29B$9.69B200xas long as short
KuCoin ETHUSDTM+0.0081%8h2,770.2−0.083%$421.1M$738.6M100xas long as short
Deribit ETH-PERPETUAL+0.0082%1h2,772.1−0.016%$259.0M$222.1M50xas long as short
Bybit ETHUSDT+0.0088%8h2,770.9−0.059%$2.51B$4.62B150xas long as short
BingX ETH-USDC+0.0088%8h2,770.4−0.075%—$17.5M—as long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,771.4−0.040%$60.2M$4.59B50xas long as short
HTX ETH-USDT+0.0094%8h2,769.7−0.100%$1.08B$1.32B200xas long as short
Nado ETH-PERP+0.0096%1h2,769.4−0.112%$14.3M$118.2M50xas long as short
Lighter ETH+0.0096%1h2,770.2−0.082%$115.0M$500.7M50xas long as short
Lighter RH ETH+0.0096%1h2,772−0.018%$25.3M$122.0M50xas long as short
Vest ETH-PERP+0.0096%1h2,770.5−0.074%—$1.1M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,769.1−0.122%$15.9M$10.1M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,769.7−0.101%$475K$2.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,772.50.000%$3.17B$2.36B25xas long as short
Pacifica ETH+0.0100%1h2,770.1−0.086%$31.2M$316.9M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,769.9−0.094%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,770.5−0.071%$2.7M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,769.4−0.112%$169.4M$262.8M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,770.6−0.070%$15.1M$44.2M50xas long as short
Variational Omni ETH+0.0100%8h2,768.4−0.147%$147.1M$335.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,770−0.091%$181.8M$783.7M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,768.7−0.137%$161.0M$89.8M50xas long as short
StandX ETH-USD+0.0100%1h2,770.5−0.072%$21.4M$58.6M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,770.6−0.069%$10.6M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,771.2−0.046%$21K$24K25xas long as short
SunX ETH-USDT+0.0100%8h2,770−0.090%$973K$13.9M100xas long as short
Derive ETH-PERP+0.0100%1h2,773.2+0.025%$42.7M$29.4M15xas long as short
Extended ETH-USD+0.0104%1h2,768.9−0.129%$32.5M$78.3M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,771.1−0.051%—$43.8M500xas long as short
Kalshi KXETHPERP+0.0107%8h2,771.3−0.043%$8.2M$687.7M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0123%1h2,771.5−0.035%$90.4M$338.6M100xas long as short
Orderly PERP_ETH_USDC+0.0143%8h2,773.4+0.031%$32.6M$12.2M100xas long as short
BloFin ETH-USDT+0.0176%8h2,768.4−0.147%$286.2M$194.2M150xas long as short
Reya ETHRUSDPERP+0.0205%1h2,770.1−0.085%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0208%1h2,771.8−0.024%$252K$1.6M20xas long as short