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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 23:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.054%
Price spread now: Variational Omni against Hotstuff−0.294%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 Variational Omni
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 · Variational Omni: Active · farm boardneeds both histories
Funding pays, the price is against you. Variational Omni is 0.294% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.294% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$29 on $10k: about 5.4 days of funding at the current rate (+$5 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHotstuff ETH-PERP2,782−0.0080get 0.0010% / 1h41m 40s$5K$2K50x
ShortVariational Omni ETH2,773.80.0100get 0.0100% / 8h1h 41m$135.8M$327.0M—

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Variational Omni 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
$37.8
Price spread: −0.294% → 0.000%
−$29.4
Slippage, 4 orders
no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders
−$5
Fee Variational Omni: 0 bp × 2 orders
$0
Net
$3.4
Costs to cover
0.050%
Break-even
6.4 days
Slippage unknown: Hotstuff: no order-book sample; Variational Omni: RFQ quote, 3 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 Variational Omni RFQ quote, 3 min ago0.50 bpdoesn't fit1.0 bp −$104.9 bp −$490doesn't fit
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%43m2,780.5−0.053%$289K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,781.1−0.032%$5.8M$12.0M25xas long as short
Hotstuff ETH-PERPlong−0.0080%1h2,782long leg$5K$2K50x
Injective ETH/USDC PERP−0.0041%1h2,775.7−0.226%$119K$22.5M52xas long as short
01 Exchange ETHUSD−0.0032%1h2,781.2−0.029%$170K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0030%1h2,775.9−0.218%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,782.1+0.003%$12.7M$45.5M50xas long as short
Phoenix ETH0.0000%1h2,774.2−0.280%$885K$3.7M25xas long as short
Phemex ETHUSDT+0.0005%8h2,781−0.036%$270.5M$68.5M150xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,781.7−0.010%$22.5M—200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0017%8h2,781.4−0.021%—$17.4M—as long as short
OKX ETH-USDT-SWAP+0.0019%8h2,780.2−0.065%$1.71B$11.85B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0028% / S +0.0009%1h2,781.6−0.016%$13.2M—200xas long as short
Aster ETHUSDT+0.0037%8h2,781.2−0.028%$257.1M$989.8M200xas long as short
Bullet ETH-USD+0.0038%1h2,780.6−0.051%$182K$1.8M20xas long as short
Nado ETH-PERP+0.0044%1h2,780.1−0.068%$14.3M$117.7M50xas long as short
MEXC ETH_USDT+0.0056%8h2,782.1+0.002%$1.63B$2.65B500xas long as short
Aevo ETH-PERP+0.0056%1h2,778.6−0.123%$5.0M$636K20xas long as short
Binance ETHUSDT+0.0058%8h2,781−0.035%$6.46B$17.10B150xas long as short
Bitget ETHUSDT+0.0073%8h2,782.1+0.002%$2.11B$3.10B150xas long as short
Gate ETH_USDT+0.0077%8h2,781.9−0.003%$3.30B$9.57B200xas long as short
HTX ETH-USDT+0.0095%8h2,781−0.037%$1.08B$1.31B200xas long as short
Lighter ETH+0.0096%1h2,782.4+0.013%$115.3M$497.5M50xas long as short
Lighter RH ETH+0.0096%1h2,783.3+0.046%$25.5M$120.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,781.5−0.018%—$41.5M500xas long as short
Bybit ETHUSDT+0.0096%8h2,780.4−0.057%$2.53B$4.59B150xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,782.9+0.034%$16.0M$10.5M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,781.5−0.018%$483K$2.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,784.7+0.098%$3.20B$2.39B25xas long as short
Pacifica ETH+0.0100%1h2,782.2+0.007%$31.3M$295.5M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,781−0.036%$2.8M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,783.4+0.050%$2.8M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,781.3−0.024%$166.9M$248.1M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,781.5−0.019%$427.2M$737.4M100xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,781.8−0.006%$15.3M$44.0M50xas long as short
Variational Omni ETHshort+0.0100%8h2,773.8−0.294%$135.8M$327.0M—
edgeX ETHUSDC+0.0100%4h2,776.9−0.184%$180.0M$778.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,776.5−0.197%$161.5M$93.1M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,776.6−0.196%$8.7M$32.6M100xas long as short
StandX ETH-USD+0.0100%1h2,780.3−0.061%$21.5M$57.9M40xas long as short
Vest ETH-PERP+0.0100%1h2,780.4−0.058%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,781.6−0.014%$10.8M$7.7M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,781.5−0.018%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,783.4+0.049%$42.8M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,780.3−0.060%$975K$14.0M100xas long as short
SoDEX ETH-USD+0.0100%1h2,781−0.036%$55.4M$228.8M40xas long as short
Extended ETH-USD+0.0104%1h2,781.5−0.017%$31.6M$74.6M50xas long as short
Hibachi ETH/USDT-P+0.0104%1h2,778.9−0.112%$281K$1.5M20xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,782.5+0.016%$60.4M$4.60B50xas long as short
Kalshi KXETHPERP+0.0110%8h2,781−0.036%$8.6M$673.1M4.9xas long as short
Deribit ETH-PERPETUAL+0.0117%1h2,782.5+0.018%$258.4M$221.7M50xas long as short
Orderly PERP_ETH_USDC+0.0139%8h2,783.6+0.059%$32.7M$12.0M100xas long as short
Kraken Futures PF_ETHUSD+0.0169%1h2,782.2+0.005%$86.3M$330.4M100xas long as short
BloFin ETH-USDT+0.0176%8h2,778−0.145%$285.6M$194.6M150xas long as short
Reya ETHRUSDPERP+0.0189%1h2,780.6−0.051%$7.4M$1.1M25xas long as short