ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0109%/8h= −12.0% APRnext payment −$0.14 per $10,000 · paid last 24h +0.046%

Price spread now: Derive against Injective+0.169%61s7-day average −0.010% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days−0.047%−$5 on $10k

Price spread, last 3 days (all we have)−0.054%−$5 · spread now +0.169%, 7d avg −0.010%

Together, before fees−0.102%−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Derive is 0.179% dearer against Injective than usual: you sell high and buy low (spread +0.169% now, against its 7-day average of −0.010%): +$18 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.5 days. At the pace of the last 7 days (−0.047% in total) that is about 27 days. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ETH/USDC PERP	2,744.2	0.0209	pay 0.0026% / 1h	33m 36s	$118K	$22.5M	52x
Short	Derive ETH-PERP	2,748.8	0.0100	get 0.0013% / 1h	33m 36s	$41.8M	$29.4M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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

Position, each leg$Hold fordaysFee InjectivebpFee DerivebpOrdersPrice spread, now +0.169%Rate

Funding earned: −$22.97
Price spread: +0.169% → −0.010%: $17.94
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Derive: 3 bp × 2 orders: −$6
Net: −$11.05
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Injective: live order book, 1 min ago; Derive: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Injective live order book, 1 min ago	14.72 bp	14.7 bp −$15	14.7 bp −$147	14.7 bp −$1,473	20867.0 bp −$10.43M
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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 54 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ETH	−0.0447%	43m	2,746.4	+0.079%	$310K	$6.0M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,748.2	+0.146%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,744.8	+0.022%	$5.5M	$11.2M	25x	as long as short
ApeX Omni ETHUSDT	−0.0054%	1h	2,745.1	+0.032%	$8.7M	$31.8M	100x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,747.3	+0.113%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,743.4	−0.029%	$847K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,745.8	+0.059%	$10.8M	$42.0M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,747.4	+0.117%	$22.2M	—	200x	as long as short
01 Exchange ETHUSD	+0.0016%	1h	2,745.3	+0.040%	$180K	$1.1M	50x	as long as short
BingX ETH-USDC	+0.0032%	8h	2,744.4	+0.009%	—	$17.3M	—	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0042%	8h	2,744.1	−0.003%	$1.68B	$11.05B	100x	as long as short
HTX ETH-USDT	+0.0046%	8h	2,747.1	+0.106%	$1.06B	$1.22B	200x	as long as short
Aster ETHUSDT	+0.0061%	8h	2,747.4	+0.118%	$253.4M	$863.0M	200x	as long as short
MEXC ETH_USDT	+0.0070%	8h	2,744.7	+0.017%	$1.56B	$2.56B	500x	as long as short
Binance ETHUSDT	+0.0072%	8h	2,745	+0.030%	$6.35B	$16.33B	150x	as long as short
Aevo ETH-PERP	+0.0072%	1h	2,745	+0.031%	$4.9M	$168K	20x	as long as short
KuCoin ETHUSDTM	+0.0073%	8h	2,744.8	+0.020%	$381.0M	$608.1M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0078%	1h	2,748.5	+0.155%	$258.6M	$202.0M	50x	as long as short
Gate ETH_USDT	+0.0080%	8h	2,744.8	+0.020%	$3.39B	$8.85B	200x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,749.2	+0.182%	$58.9M	$4.39B	50x	as long as short
Bitget ETHUSDT	+0.0089%	8h	2,744.4	+0.007%	$2.07B	$2.86B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,745.4	+0.042%	$112.7M	$441.9M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,746.7	+0.089%	$24.8M	$106.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,747.6	+0.124%	—	$35.5M	500x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,749.5	+0.193%	$15.9M	$8.2M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,743.8	−0.015%	$467K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,746.9	+0.099%	$14.0M	$113.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,747.6	+0.124%	$3.13B	$2.12B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,745.5	+0.047%	$31.5M	$333.7M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,744.4	+0.008%	$2.45B	$4.36B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,743.6	−0.022%	$2.8M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,745.1	+0.034%	$2.8M	$16.7M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,748	+0.138%	$15.1M	$41.8M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,744.6	+0.013%	$133.0M	$346.7M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,744.4	+0.006%	$181.5M	$729.2M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,743.9	−0.013%	$159.6M	$84.2M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,745	+0.029%	$21.2M	$67.3M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,747.7	+0.128%	—	$870K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,746.8	+0.095%	$10.3M	$8.0M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,747	+0.104%	$183K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,747.3	+0.114%	$21K	$22K	25x	as long as short
Derive ETH-PERPshort	+0.0100%	1h	2,748.8	+0.169%	$41.8M	$29.4M	15x
SunX ETH-USDT	+0.0100%	8h	2,746.2	+0.073%	$962K	$12.5M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,747.3	+0.113%	$54.7M	$187.6M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,747.8	+0.130%	$267.1M	$66.5M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,743.9	−0.010%	$165.5M	$306.7M	25x	as long as short
Aftermath Perps ETHUSD	+0.0102%	1h	2,745.9	+0.060%	$30K	$21K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,743.3	−0.034%	$30.4M	$74.9M	50x	as long as short
Kalshi KXETHPERP	+0.0137%	8h	2,747.9	+0.135%	$7.9M	$674.1M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0167%	8h	2,749.9	+0.208%	$32.3M	$11.2M	100x	as long as short
Hibachi ETH/USDT-P	+0.0192%	1h	2,746.3	+0.076%	$250K	$1.5M	20x	as long as short
Injective ETH/USDC PERPlong	+0.0209%	1h	2,744.2	long leg	$118K	$22.5M	52x
Reya ETHRUSDPERP	+0.0219%	1h	2,747	+0.101%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0354%	1h	2,748.3	+0.149%	$90.0M	$318.2M	100x	as long as short