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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 05:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h +0.036%
Price spread now: Polymarket Perps against Injective+0.007%7-day average −0.054% · 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−$63as in the Price arb table
costs, in and out, $10k−$690.695% of the position
Long on InjectiveShort on Polymarket Perps
What this pair did over the last
the charts below follow
Funding, last 7 days−0.105%−$10 on $10k
Price spread, last 4 days (all we have)+0.154%+$15 · spread now +0.007%, 7d avg −0.054%
Together, before fees+0.049%+$5 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Polymarket Perps is 0.062% dearer against Injective than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.054%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongInjective ETH/USDC PERP2,737.80.0096pay 0.0012% / 1h32m 55s$117K$22.5M52x
ShortPolymarket Perps ETH-USD2,7380.0100get 0.0013% / 1h32m 55s$11.2M$9.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Injective. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$0.81
Price spread: +0.007% → −0.054%
$6.16
Slippage, 4 orders
−$61.47
Fee Injective: 0.01 bp × 2 orders
−$0.02
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Net
−$62.52
Costs to cover
0.695%
Break-even
548.6 days
Slippage from Injective: live order book, 1 min ago; Polymarket Perps: live order book, 1 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, 1 min ago14.41 bp14.4 bp −$1414.4 bp −$14414.4 bp −$1,44220948.7 bp −$10.47M
Sell Polymarket Perps live order book, 1 min ago0.18 bp4.5 bp −$55.0 bp −$5012.7 bp −$1,269doesn't fit

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%43m2,735.6−0.082%$297K$5.6M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,737.7−0.004%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,736.8−0.038%$11.9M—200xas long as short
Phoenix ETH−0.0006%1h2,737.1−0.026%$822K$2.9M25xas long as short
HTX ETH-USDT+0.0001%8h2,735.2−0.096%$1.06B$1.20B200xas long as short
dYdX ETH-USD+0.0004%1h2,737.1−0.026%$10.8M$42.0M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,737.1−0.027%$28.1M—200xas long as short
Bullet ETH-USD+0.0028%1h2,736.3−0.055%$179K$1.7M20xas long as short
BingX ETH-USDC+0.0032%8h2,736.4−0.053%—$18.4M—as long as short
Bybit ETHUSDT+0.0042%8h2,737.4−0.015%$2.38B$4.37B150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
ApeX Omni ETHUSDT+0.0044%1h2,737.4−0.015%$8.7M$31.2M100xas long as short
01 Exchange ETHUSD+0.0056%1h2,737.1−0.026%$187K$817K50xas long as short
KuCoin ETHUSDTM+0.0067%8h2,736.9−0.033%$381.5M$573.8M100xas long as short
Deribit ETH-PERPETUAL+0.0071%1h2,738.2+0.013%$259.5M$200.1M50xas long as short
OKX ETH-USDT-SWAP+0.0075%8h2,737.3−0.017%$1.67B$10.75B100xas long as short
Phemex ETHUSDT+0.0079%8h2,736.8−0.038%$265.3M$65.1M150xas long as short
Aster ETHUSDT+0.0084%8h2,737.3−0.018%$251.4M$842.3M200xas long as short
SunX ETH-USDT+0.0085%8h2,735.9−0.068%$960K$11.2M100xas long as short
Binance ETHUSDT+0.0093%8h2,737.3−0.018%$6.36B$15.89B150xas long as short
MEXC ETH_USDT+0.0093%8h2,737.2−0.023%$1.56B$2.56B500xas long as short
Lighter ETH+0.0096%1h2,737.4−0.015%$112.9M$432.1M50xas long as short
Lighter RH ETH+0.0096%1h2,738.5+0.026%$23.4M$104.2M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,736.6−0.046%—$30.9M500xas long as short
Aevo ETH-PERP+0.0096%1h2,735.2−0.094%$4.9M$155K20xas long as short
Injective ETH/USDC PERPlong+0.0096%1h2,737.8long leg$117K$22.5M52x
Paradex ETH-USD-PERP+0.0099%8h2,739.7+0.071%$15.6M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,736.3−0.055%$505K$3.3M50xas long as short
SoDEX ETH-USD+0.0100%1h2,736.8−0.037%$54.5M$187.7M40xas long as short
Nado ETH-PERP+0.0100%1h2,735.7−0.076%$13.7M$104.5M50xas long as short
Hyperliquid ETH+0.0100%1h2,739.3+0.055%$3.11B$2.04B25xas long as short
Pacifica ETH+0.0100%1h2,737−0.029%$32.1M$333.7M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,736.1−0.062%$2.7M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,737.2−0.023%$1.5M$15.9M25xas long as short
Bulk ETH-USD+0.0100%1h2,736.4−0.050%$170.3M$327.0M25xas long as short
Gate ETH_USDT+0.0100%8h2,737.4−0.014%$3.34B$8.88B200xas long as short
Bitget ETHUSDT+0.0100%8h2,737.2−0.022%$2.07B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,736.6−0.045%$15.2M$40.8M50xas long as short
Variational Omni ETH+0.0100%8h2,735.4−0.089%$133.6M$322.1M—as long as short
edgeX ETHUSDC+0.0100%4h2,735.7−0.077%$184.0M$670.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,737.6−0.008%$159.3M$86.9M50xas long as short
StandX ETH-USD+0.0100%1h2,737.4−0.015%$21.1M$69.2M40xas long as short
Vest ETH-PERP+0.0100%1h2,737.3−0.019%—$844K50xas long as short
Polymarket Perps ETH-USDshort+0.0100%1h2,738+0.007%$11.2M$9.2M50x
Bluefin ETH-PERP+0.0100%1h2,737.2−0.023%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,738.6+0.031%$41.3M$29.9M15xas long as short
Extended ETH-USD+0.0104%1h2,736.2−0.057%$30.6M$73.0M50xas long as short
RISEx ETH/USDC+0.0107%1h2,737.1−0.025%$5.6M$11.7M25xas long as short
Aftermath Perps ETHUSD+0.0111%1h2,737.4−0.016%$30K$20K20xas long as short
Coinbase International ETH-PERP-INTX+0.0120%1h2,737.9+0.003%$51.1M$4.28B50xas long as short
Kalshi KXETHPERP+0.0142%8h2,736.9−0.033%$6.5M$683.2M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0153%1h2,737.6−0.008%$83.4M$315.1M100xas long as short
Orderly PERP_ETH_USDC+0.0198%8h2,739.1+0.047%$32.2M$11.7M100xas long as short
Reya ETHRUSDPERP+0.0211%1h2,735.6−0.080%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0264%1h2,737.6−0.009%$245K$1.4M20xas long as short
BloFin ETH-USDT+0.0372%8h2,736.6−0.046%$283.4M$175.3M150xas long as short