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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 22:00 UTC+0.0271%/8h= +29.6% APRpaid last 24h +0.053%
Price spread now: BloFin against Injective+0.085%7-day average −0.063% · you sell dearer than you buy
Net, funding: paid 7d − costs−$73as in the Funding arb table
Net, price: spread back to 7d avg − costs−$57as in the Price arb table
costs, in and out, $10k−$720.720% of the position
Long on InjectiveShort on BloFin
What this pair did over the last
the charts below follow
Funding, last 7 days−0.005%−$1 on $10k
Price spread, last 3 days (all we have)−0.020%−$2 · spread now +0.085%, 7d avg −0.063%
Together, before fees−0.025%−$3 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and BloFin is 0.148% dearer against Injective than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of −0.063%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.005% in total (about -0.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongInjective ETH/USDC PERP2,774.7−0.0107get 0.0013% / 1h54m 40s$119K$22.5M52x
ShortBloFin ETH-USDT2,777.10.0164get 0.0164% / 8h2h 54m$287.5M$197.2M150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BloFin against Injective. 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
$56.83
Price spread: +0.085% → −0.063%
$14.78
Slippage, 4 orders
−$59.95
Fee Injective: 0.01 bp × 2 orders
−$0.02
Fee BloFin: 6 bp × 2 orders
−$12
Net
−$0.36
Costs to cover
0.720%
Break-even
7.0 days
Slippage from Injective: live order book, 5 min ago; BloFin: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Injective live order book, 5 min ago14.01 bp14.0 bp −$1414.0 bp −$14014.0 bp −$1,40220623.3 bp −$10.31M
Sell BloFin live order book, 5 min ago0.04 bp6.1 bp −$66.1 bp −$616.3 bp −$6357.2 bp −$3,615

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%43m2,775.7+0.037%$290K$6.9M8.3xas long as short
ApeX Omni ETHUSDT−0.0318%1h2,773.3−0.052%$10.5M$30.9M100xas long as short
Injective ETH/USDC PERPlong−0.0107%1h2,774.7long leg$119K$22.5M52x
Hotstuff ETH-PERP−0.0080%1h2,776.1+0.050%$5K$2K50xas long as short
01 Exchange ETHUSD−0.0048%1h2,776.2+0.054%$172K$1.2M50xas long as short
Phoenix ETH−0.0032%1h2,776.7+0.072%$799K$3.7M25xas long as short
RISEx ETH/USDC−0.0011%1h2,772.7−0.072%$5.8M$12.0M25xas long as short
dYdX ETH-USD0.0000%1h2,775.4+0.025%$13.0M$45.3M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,778+0.117%$22.4M—200xas long as short
BingX ETH-USDT+0.0017%8h2,771.7−0.108%—$1.20B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phemex ETHUSDT+0.0017%8h2,777.1+0.085%$267.2M$66.0M150xas long as short
OKX ETH-USDT-SWAP+0.0022%8h2,771.3−0.123%$1.71B$11.91B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0027% / S +0.0009%1h2,777.9+0.114%$13.1M—200xas long as short
Aftermath Perps ETHUSD+0.0029%1h2,779.4+0.170%$29K$22K20xas long as short
Aevo ETH-PERP+0.0040%1h2,775.4+0.025%$5.0M$636K20xas long as short
MEXC ETH_USDT+0.0043%8h2,772.9−0.066%$1.61B$2.61B500xas long as short
Binance ETHUSDT+0.0044%8h2,773.2−0.055%$6.45B$17.25B150xas long as short
Aster ETHUSDT+0.0047%8h2,773.6−0.040%$256.4M$997.5M200xas long as short
Gate ETH_USDT+0.0055%8h2,772.6−0.077%$3.29B$9.52B200xas long as short
SoDEX ETH-USD+0.0072%1h2,777.1+0.086%$55.3M$228.5M40xas long as short
Bitget ETHUSDT+0.0074%8h2,771.8−0.105%$2.09B$3.14B150xas long as short
Bullet ETH-USD+0.0084%1h2,776.9+0.079%$188K$1.8M20xas long as short
Variational Omni ETH+0.0092%8h2,775.7+0.038%$140.7M$320.1M—as long as short
Lighter ETH+0.0096%1h2,774.4−0.010%$115.2M$507.0M50xas long as short
Lighter RH ETH+0.0096%1h2,775.1+0.013%$25.5M$121.4M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,774.5−0.008%—$42.8M500xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,773.3−0.049%$15.9M$11.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,772.9−0.065%$493K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,775.7+0.037%$16.2M$115.2M50xas long as short
Hyperliquid ETH+0.0100%1h2,776.9+0.079%$3.20B$2.37B25xas long as short
Pacifica ETH+0.0100%1h2,774−0.026%$31.2M$281.2M50xas long as short
Bybit ETHUSDT+0.0100%8h2,772.1−0.093%$2.51B$4.65B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,772.3−0.086%$2.9M$16.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,774.7−0.001%$2.8M$17.7M25xas long as short
Bulk ETH-USD+0.0100%1h2,780.5+0.210%$165.0M$263.0M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,773−0.061%$426.4M$746.4M100xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,778.1+0.122%$15.4M$42.4M50xas long as short
edgeX ETHUSDC+0.0100%4h2,775.2+0.018%$177.5M$786.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,775.6+0.033%$161.5M$98.8M50xas long as short
StandX ETH-USD+0.0100%1h2,776.9+0.079%$21.4M$57.4M40xas long as short
Vest ETH-PERP+0.0100%1h2,776.8+0.074%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,778.4+0.133%$10.8M$7.9M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,777.7+0.110%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,779.7+0.182%$43.0M$29.9M15xas long as short
SunX ETH-USDT+0.0100%8h2,776.8+0.077%$973K$14.3M100xas long as short
HTX ETH-USDT+0.0100%8h2,777+0.083%$1.08B$1.32B200xas long as short
Extended ETH-USD+0.0104%1h2,770.8−0.140%$31.6M$76.6M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,779+0.153%$60.4M$4.67B50xas long as short
Kalshi KXETHPERP+0.0111%8h2,776.6+0.068%$8.5M$671.7M4.9xas long as short
Orderly PERP_ETH_USDC+0.0128%8h2,780.1+0.196%$32.6M$11.7M100xas long as short
BloFin ETH-USDTshort+0.0164%8h2,777.1+0.085%$287.5M$197.2M150x
Deribit ETH-PERPETUAL+0.0171%1h2,779.2+0.163%$258.9M$223.2M50xas long as short
Reya ETHRUSDPERP+0.0194%1h2,776.3+0.057%$7.5M$992K25xas long as short
Kraken Futures PF_ETHUSD+0.0240%1h2,778.7+0.145%$88.8M$331.2M100xas long as short
Hibachi ETH/USDT-P+0.0352%1h2,775+0.010%$273K$1.5M20xas long as short