ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0145%/8h= +15.9% APRnext payment +$0.18 per $10,000 · paid last 24h +0.039%

Price spread now: Kraken Futures against Injective+0.096%63s7-day average −0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

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

costs, in and out, $10k−$720.722% of the position

Long on Injective Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.080%−$8 on $10k

Price spread, last 3 days (all we have)−0.030%−$3 · spread now +0.096%, 7d avg −0.057%

Together, before fees−0.110%−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Kraken Futures is 0.153% dearer against Injective than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of −0.057%. Mind the row above: over the last 7 days funding on this pair cost −0.080%, so the current rate has only just turned in your favour. The two prices were read 63 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	2,744.7	0.0209	pay 0.0026% / 1h	5m 32s	$118K	$22.5M	52x
Short	Kraken Futures PF_ETHUSD	2,747.3	0.0354	get 0.0044% / 1h	5m 32s	$88.2M	$315.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.096%Rate

Funding earned: $30.4
Price spread: +0.096% → −0.057%: $15.25
Slippage, 4 orders: −$62.21
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$26.57
Costs to cover: 0.722%
Break-even: 13.1 days

Slippage from Injective: live order book, 4 min ago; Kraken Futures: live order book, 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	18.02 bp	18.0 bp −$18	18.0 bp −$180	18.0 bp −$1,803	20896.9 bp −$10.45M
Sell Kraken Futures live order book, 4 min ago	0.36 bp	5.5 bp −$6	7.4 bp −$74	9.5 bp −$954	13.0 bp −$6,521

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	−0.0112%	43m	2,746.7	+0.071%	$310K	$5.8M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,747.6	+0.106%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,746.9	+0.081%	$5.7M	$11.2M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,746.9	+0.079%	$12.1M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,748.4	+0.135%	$848K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,746.3	+0.059%	$10.8M	$42.0M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,747.1	+0.086%	$22.2M	—	200x	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,747.2	+0.091%	$181K	$1.0M	50x	as long as short
BingX ETH-USDT	+0.0041%	8h	2,746.4	+0.063%	—	$1.17B	—	as long as short
OKX ETH-USDT-SWAP	+0.0052%	8h	2,747	+0.082%	$1.70B	$10.80B	100x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ETHUSDTM	+0.0066%	8h	2,746.4	+0.060%	$370.1M	$605.8M	100x	as long as short
Aster ETHUSDT	+0.0070%	8h	2,746.5	+0.067%	$253.0M	$850.5M	200x	as long as short
HTX ETH-USDT	+0.0073%	8h	2,746.7	+0.073%	$1.06B	$1.19B	200x	as long as short
ApeX Omni ETHUSDT	+0.0077%	1h	2,745.4	+0.026%	$8.7M	$31.4M	100x	as long as short
MEXC ETH_USDT	+0.0080%	8h	2,746.5	+0.067%	$1.57B	$2.59B	500x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,745.3	+0.021%	$4.9M	$167K	20x	as long as short
Binance ETHUSDT	+0.0080%	8h	2,746.4	+0.063%	$6.38B	$16.01B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,747.8	+0.114%	$58.7M	$4.31B	50x	as long as short
Lighter ETH	+0.0096%	1h	2,747	+0.083%	$113.1M	$445.3M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,748.2	+0.129%	$24.8M	$108.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,747.2	+0.092%	—	$31.7M	500x	as long as short
Gate ETH_USDT	+0.0097%	8h	2,746.7	+0.072%	$3.40B	$8.95B	200x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,750.7	+0.218%	$16.2M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,746.4	+0.062%	$477K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,745.9	+0.043%	$13.9M	$108.5M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,749.1	+0.160%	$3.13B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,747.1	+0.088%	$31.7M	$334.3M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,746.6	+0.067%	$2.46B	$4.25B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,746.3	+0.058%	$2.7M	$16.9M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,747.1	+0.089%	$2.8M	$16.4M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,747	+0.084%	$2.08B	$2.78B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,745.8	+0.040%	$15.0M	$41.5M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,746.2	+0.053%	$132.8M	$343.9M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,745.3	+0.020%	$181.9M	$700.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,743.3	−0.051%	$159.5M	$82.2M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,747.1	+0.087%	$21.2M	$69.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,747.8	+0.112%	—	$849K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,747.6	+0.106%	$10.7M	$8.6M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,747	+0.083%	$182K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,747.6	+0.104%	$21K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,749	+0.157%	$41.7M	$29.6M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,746.7	+0.073%	$963K	$12.2M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,746.7	+0.073%	$54.7M	$187.7M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,747	+0.084%	$267.5M	$65.9M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,746.2	+0.056%	$164.3M	$302.6M	25x	as long as short
Aftermath Perps ETHUSD	+0.0100%	1h	2,746.8	+0.076%	$30K	$20K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,745.7	+0.038%	$30.5M	$73.0M	50x	as long as short
Kalshi KXETHPERP	+0.0147%	8h	2,747.6	+0.106%	$7.8M	$672.4M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0179%	8h	2,749.6	+0.177%	$32.3M	$11.1M	100x	as long as short
Injective ETH/USDC PERPlong	+0.0209%	1h	2,744.7	long leg	$118K	$22.5M	52x
Deribit ETH-PERPETUAL	+0.0220%	1h	2,748.3	+0.130%	$258.8M	$198.3M	50x	as long as short
Reya ETHRUSDPERP	+0.0222%	1h	2,746.7	+0.072%	$7.3M	$1.1M	25x	as long as short
Hibachi ETH/USDT-P	+0.0224%	1h	2,748.2	+0.128%	$250K	$1.5M	20x	as long as short
Kraken Futures PF_ETHUSDshort	+0.0354%	1h	2,747.3	+0.096%	$88.2M	$315.1M	100x