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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+0.0192%/8h= +21.0% APRnext payment +$0.24 per $10,000 · paid last 24h +0.027%
Price spread now: Extended against Injective+0.272%7-day average −0.095% · you sell dearer than you buy
Net, funding: paid 7d − costs−$78as in the Funding arb table
Net, price: spread back to 7d avg − costs−$29as in the Price arb table
costs, in and out, $10k−$660.658% of the position
Long on InjectiveShort on Extended
What this pair did over the last
the charts below follow
Funding, last 7 days−0.119%−$12 on $10k
Price spread, last 3 days (all we have)−0.172%−$17 · spread now +0.272%, 7d avg −0.095%
Together, before fees−0.291%+ Points / potential airdropExtended: Active · farm board−$29 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Extended is 0.367% dearer against Injective than usual: you sell high and buy low: +$37 more if the spread goes back to its 7-day average of −0.095%. Mind the row above: over the last 7 days funding on this pair cost −0.119%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.119% in total (about -6.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.24 per $10,000. 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 PERP2,762.1−0.0088get 0.0011% / 1h11m 00s$119K$22.5M52x
ShortExtended ETH-USD2,769.60.0104get 0.0013% / 1h11m 00s$32.5M$78.3M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Extended 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
$40.22
Price spread: +0.272% → −0.095%
$36.74
Slippage, 4 orders
−$60.78
Fee Injective: 0.01 bp × 2 orders
−$0.02
Fee Extended: 2.5 bp × 2 orders
−$5
Net
$11.17
Costs to cover
0.658%
Break-even
5.1 days
Slippage from Injective: live order book, 3 min ago; Extended: live order book, 3 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, 3 min ago14.77 bp14.8 bp −$1514.8 bp −$14814.8 bp −$1,47820676.9 bp −$10.34M
Sell Extended live order book, 3 min ago0.18 bp2.7 bp −$32.7 bp −$274.1 bp −$40612.6 bp −$6,287

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+0.286%$286K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0206%1h2,769.1+0.252%$5.6M$11.9M25xas long as short
Injective ETH/USDC PERPlong−0.0088%1h2,762.1long leg$119K$22.5M52x
Hotstuff ETH-PERP−0.0080%1h2,769.5+0.268%$5K$2K50xas long as short
ApeX Omni ETHUSDT−0.0023%1h2,770.5+0.304%$8.7M$32.9M100xas long as short
01 Exchange ETHUSD−0.0008%1h2,769.3+0.261%$168K$1.2M50xas long as short
dYdX ETH-USD0.0000%1h2,770.8+0.315%$12.7M$45.9M50xas long as short
Phoenix ETH+0.0003%1h2,771.8+0.351%$876K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,769.5+0.269%$22.4M—200xas long as short
OKX ETH-USDT-SWAP+0.0022%8h2,770+0.286%$1.70B$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%1h2,769.6+0.270%$12.8M—200xas long as short
Phemex ETHUSDT+0.0029%8h2,768.5+0.232%$269.9M$68.9M150xas long as short
Aftermath Perps ETHUSD+0.0030%1h2,771.6+0.345%$29K$22K20xas long as short
SoDEX ETH-USD+0.0031%1h2,768.4+0.228%$55.1M$228.9M40xas long as short
Aster ETHUSDT+0.0032%8h2,770.2+0.294%$255.7M$1.00B200xas long as short
Bullet ETH-USD+0.0038%1h2,768.9+0.246%$181K$1.7M20xas long as short
Deribit ETH-PERPETUAL+0.0053%1h2,770.2+0.293%$259.0M$222.1M50xas long as short
Aevo ETH-PERP+0.0056%1h2,766.9+0.173%$5.0M$636K20xas long as short
Binance ETHUSDT+0.0056%8h2,770+0.286%$6.45B$17.29B150xas long as short
MEXC ETH_USDT+0.0057%8h2,770.1+0.291%$1.62B$2.66B500xas long as short
Bitget ETHUSDT+0.0065%8h2,770.3+0.298%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0067%8h2,768.5+0.232%$3.29B$9.69B200xas long as short
KuCoin ETHUSDTM+0.0080%8h2,769.3+0.262%$420.7M$738.5M100xas long as short
Bybit ETHUSDT+0.0088%8h2,770.3+0.297%$2.50B$4.62B150xas long as short
BingX ETH-USDC+0.0088%8h2,768.1+0.218%—$17.4M—as long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,769.9+0.281%$60.1M$4.59B50xas long as short
HTX ETH-USDT+0.0094%8h2,768.6+0.236%$1.08B$1.32B200xas long as short
Lighter ETH+0.0096%1h2,768.9+0.248%$115.0M$500.6M50xas long as short
Lighter RH ETH+0.0096%1h2,770.6+0.307%$25.3M$122.0M50xas long as short
Vest ETH-PERP+0.0096%1h2,769.7+0.273%—$1.1M50xas long as short
Nado ETH-PERP+0.0099%1h2,768.9+0.245%$14.3M$118.2M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,768.5+0.233%$15.9M$10.1M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,768.6+0.235%$475K$2.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,771.2+0.329%$3.17B$2.36B25xas long as short
Pacifica ETH+0.0100%1h2,769.5+0.268%$31.2M$315.2M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,768.8+0.243%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,769.9+0.283%$2.7M$17.3M25xas long as short
Bulk ETH-USD+0.0100%1h2,773+0.393%$170.1M$265.7M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,768.7+0.240%$15.1M$44.2M50xas long as short
Variational Omni ETH+0.0100%8h2,768.4+0.229%$147.1M$335.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,770+0.286%$181.8M$783.7M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,770.4+0.300%$161.1M$89.8M50xas long as short
StandX ETH-USD+0.0100%1h2,771.4+0.337%$21.4M$58.5M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,769.1+0.253%$10.6M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,769.9+0.282%$21K$24K25xas long as short
SunX ETH-USDT+0.0100%8h2,768.1+0.216%$971K$13.9M100xas long as short
Derive ETH-PERP+0.0100%1h2,771.2+0.330%$42.7M$29.4M15xas long as short
Extended ETH-USDshort+0.0104%1h2,769.6+0.272%$32.5M$78.3M50x
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,771.1+0.326%—$43.7M500xas long as short
Kalshi KXETHPERP+0.0107%8h2,770.1+0.290%$8.2M$687.5M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0123%1h2,770+0.286%$90.3M$338.3M100xas long as short
Orderly PERP_ETH_USDC+0.0143%8h2,771.3+0.333%$32.6M$12.2M100xas long as short
BloFin ETH-USDT+0.0176%8h2,768.4+0.229%$286.2M$194.2M150xas long as short
Reya ETHRUSDPERP+0.0204%1h2,768.7+0.238%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0208%1h2,771.6+0.345%$252K$1.6M20xas long as short