ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0203%/8h= −22.3% APRnext payment −$0.25 per $10,000 · paid last 24h +0.008%

Price spread now: gTrade (Gains Network) against Injective+0.068%55s7-day average −0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$680.677% of the position

Long on Injective Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.034%−$3 on $10k

Price spread, last 3 days (all we have)+0.059%+$6 · spread now +0.068%, 7d avg −0.054%

Together, before fees+0.025%+$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.122% dearer against Injective than usual: you sell high and buy low (spread +0.068% now, against its 7-day average of −0.054%): +$12 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.0 days. At the pace of the last 3 days (−0.034% in total) that is about 12 days. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.034% in total (about -3.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.25 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ETH/USDC PERP	2,748.3	0.0209	pay 0.0026% / 1h	30m 23s	$118K	$22.5M	52x
Short	gTrade (Gains Network) ETH/USD	2,750.2	L +0.0006% / S −0.0006%	get 0.0001% / 1h	30m 23s	$22.2M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.068%Rate

Funding earned: −$42.73
Price spread: +0.068% → −0.054%: $12.21
Slippage, 4 orders: −$60.63
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Net: −$98.17
Costs to cover: 0.677%
Break-even: never at this rate

Slippage from Injective: live order book, 4 min ago; gTrade (Gains Network): virtual book (oracle venue), 4 min ago.

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, 4 min ago	14.72 bp	14.7 bp −$15	14.7 bp −$147	14.7 bp −$1,473	20867.0 bp −$10.43M
Sell gTrade (Gains Network) virtual book (oracle venue), 4 min ago	0.53 bp	4.0 bp −$4	4.1 bp −$41	5.0 bp −$500	8.9 bp −$4,446

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	2,749.7	+0.049%	$310K	$6.0M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,749.3	+0.036%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,750.2	+0.068%	$5.5M	$11.2M	25x	as long as short
ApeX Omni ETHUSDT	−0.0042%	1h	2,744.9	−0.123%	$8.7M	$31.8M	100x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,750	+0.061%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,746.4	−0.069%	$847K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,748	−0.011%	$10.8M	$41.8M	50x	as long as short
gTrade (Gains Network) ETH/USDshort	L +0.0006% / S −0.0006%	1h	2,750.2	+0.068%	$22.2M	—	200x
01 Exchange ETHUSD	+0.0016%	1h	2,750.4	+0.076%	$181K	$1.1M	50x	as long as short
BingX ETH-USDT	+0.0033%	8h	2,750.2	+0.069%	—	$1.19B	—	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX ETH-USDT	+0.0044%	8h	2,747.9	−0.015%	$1.07B	$1.21B	200x	as long as short
OKX ETH-USDT-SWAP	+0.0044%	8h	2,750.7	+0.088%	$1.69B	$11.03B	100x	as long as short
Aster ETHUSDT	+0.0063%	8h	2,750	+0.061%	$253.0M	$859.0M	200x	as long as short
MEXC ETH_USDT	+0.0072%	8h	2,749.8	+0.055%	$1.56B	$2.56B	500x	as long as short
Aevo ETH-PERP	+0.0072%	1h	2,748.3	+0.001%	$4.9M	$168K	20x	as long as short
KuCoin ETHUSDTM	+0.0073%	8h	2,749.8	+0.056%	$381.5M	$605.9M	100x	as long as short
Binance ETHUSDT	+0.0074%	8h	2,750.2	+0.069%	$6.36B	$16.23B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,748.8	+0.016%	$59.0M	$4.38B	50x	as long as short
Bitget ETHUSDT	+0.0091%	8h	2,750.6	+0.084%	$2.08B	$2.85B	150x	as long as short
Gate ETH_USDT	+0.0095%	8h	2,750.3	+0.074%	$3.40B	$8.86B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,748.7	+0.013%	$112.8M	$442.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,750.2	+0.067%	$24.9M	$106.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,748.7	+0.016%	—	$35.4M	500x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,753.3	+0.183%	$15.9M	$8.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,749.2	+0.033%	$468K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,748.5	+0.007%	$14.0M	$113.1M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,752.1	+0.138%	$3.13B	$2.12B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,749.7	+0.051%	$31.5M	$333.7M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,750.6	+0.082%	$2.46B	$4.33B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,748	−0.011%	$2.8M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,750.5	+0.080%	$2.8M	$16.5M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,747.5	−0.029%	$15.1M	$41.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,747.4	−0.031%	$133.1M	$346.1M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,744.4	−0.143%	$181.5M	$729.2M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,745.8	−0.091%	$159.7M	$84.5M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,749	+0.025%	$21.3M	$67.8M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,749.6	+0.047%	$10.3M	$8.0M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,749.7	+0.051%	$183K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,750.6	+0.085%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,751.9	+0.129%	$41.8M	$29.3M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,749	+0.025%	$963K	$12.4M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,750.5	+0.080%	$54.8M	$187.6M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,748.1	−0.008%	$267.1M	$66.5M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,743.9	−0.159%	$165.5M	$306.7M	25x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,750.4	+0.078%	—	$869K	50x	as long as short
Aftermath Perps ETHUSD	+0.0102%	1h	2,747.3	−0.036%	$30K	$20K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,749.6	+0.046%	$30.5M	$74.1M	50x	as long as short
Kalshi KXETHPERP	+0.0138%	8h	2,748.9	+0.022%	$7.8M	$674.2M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0168%	8h	2,752.9	+0.168%	$32.4M	$11.1M	100x	as long as short
Hibachi ETH/USDT-P	+0.0192%	1h	2,750.7	+0.087%	$250K	$1.5M	20x	as long as short
Deribit ETH-PERPETUAL	+0.0201%	1h	2,752	+0.135%	$258.5M	$200.4M	50x	as long as short
Injective ETH/USDC PERPlong	+0.0209%	1h	2,748.3	long leg	$118K	$22.5M	52x
Reya ETHRUSDPERP	+0.0219%	1h	2,749.4	+0.041%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0354%	1h	2,751.7	+0.123%	$90.0M	$316.5M	100x	as long as short