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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 23:00 UTC+0.0074%/8h= +8.1% APRnext payment +$0.09 per $10,000 · paid last 24h 0.000%
Price spread now: Kraken Futures against Jupiter Perps−0.002%7-day average −0.007% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on Jupiter PerpsShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.006%−$1 on $10k
Price spread, last 3 days (all we have)−0.018%−$2 · spread now −0.002%, 7d avg −0.007%
Together, before fees−0.024%−$2 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.007%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongJupiter Perps ETH-PERP2,773.4L +0.0096% / S +0.0048%pay 0.0012% / 1h11m 35s—$41.6M500x
ShortKraken Futures PF_ETHUSD2,773.40.0170get 0.0021% / 1h11m 35s$86.0M$332.4M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures against Jupiter Perps. 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
$15.49
Price spread: −0.002% → −0.007%
$0.57
Slippage, 4 orders
no order book: not counted
Fee Jupiter Perps: 6 bp × 2 orders
−$12
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
−$5.95
Costs to cover
0.220%
Break-even
9.7 days
Slippage unknown: Jupiter Perps: no order-book sample; Kraken Futures: live order book, 3 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Jupiter Perps no order-book sample—————
Sell Kraken Futures live order book, 3 min ago0.18 bp5.5 bp −$66.1 bp −$617.8 bp −$78311.3 bp −$5,664
Jupiter Perps: 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 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%43m2,772.9−0.018%$287K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,770.7−0.097%$5.7M$11.9M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,772.5−0.033%$5K$2K50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,779.6+0.223%$119K$22.5M52xas long as short
01 Exchange ETHUSD−0.0040%1h2,771.7−0.062%$169K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0002%1h2,775.7+0.081%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,772.4−0.036%$12.7M$45.6M50xas long as short
Phoenix ETH0.0000%1h2,773.5+0.003%$885K$3.7M25xas long as short
Deribit ETH-PERPETUAL+0.0002%1h2,774+0.020%$258.5M$222.4M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,773.4−0.002%$22.4M—200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDT+0.0015%8h2,771.3−0.077%—$1.18B—as long as short
OKX ETH-USDT-SWAP+0.0018%8h2,770.9−0.090%$1.70B$11.84B100xas long as short
Phemex ETHUSDT+0.0024%8h2,772.5−0.033%$269.8M$68.6M150xas long as short
GMX ETH/USD [ETH-USDC]L +0.0027% / S +0.0009%1h2,773.2−0.007%$12.9M—200xas long as short
Bullet ETH-USD+0.0028%1h2,772.4−0.036%$181K$1.7M20xas long as short
Aster ETHUSDT+0.0034%8h2,771.1−0.084%$255.6M$992.4M200xas long as short
Nado ETH-PERP+0.0060%1h2,770.9−0.091%$14.2M$118.1M50xas long as short
ApeX Omni ETHUSDT+0.0062%1h2,772.2−0.045%$8.7M$32.6M100xas long as short
Binance ETHUSDT+0.0063%8h2,771.1−0.085%$6.43B$17.21B150xas long as short
MEXC ETH_USDT+0.0064%8h2,770.7−0.097%$1.61B$2.68B500xas long as short
Aevo ETH-PERP+0.0064%1h2,770.9−0.092%$5.0M$636K20xas long as short
SoDEX ETH-USD+0.0065%1h2,772.4−0.037%$55.2M$228.9M40xas long as short
Bitget ETHUSDT+0.0068%8h2,770.9−0.090%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0072%8h2,771.1−0.083%$3.29B$9.66B200xas long as short
HTX ETH-USDT+0.0092%8h2,772.5−0.034%$1.08B$1.32B200xas long as short
Bybit ETHUSDT+0.0092%8h2,771.2−0.079%$2.51B$4.62B150xas long as short
Lighter ETH+0.0096%1h2,772.2−0.043%$114.9M$502.5M50xas long as short
Lighter RH ETH+0.0096%1h2,773.5+0.004%$25.3M$121.7M50xas long as short
Jupiter Perps ETH-PERPlongL +0.0096% / S +0.0048%1h2,773.4long leg—$41.6M500x
KuCoin ETHUSDTM+0.0097%8h2,771.6−0.064%$422.0M$738.9M100xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,771.3−0.077%$15.9M$10.5M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,771.3−0.077%$477K$2.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,774.3+0.032%$3.19B$2.36B25xas long as short
Pacifica ETH+0.0100%1h2,771.9−0.054%$31.2M$302.0M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,770.3−0.113%$2.8M$17.0M25xas long as short
Arcus ETH-USD+0.0100%1h2,772.3−0.040%$2.7M$17.5M25xas long as short
Bulk ETH-USD+0.0100%1h2,778.9+0.198%$165.9M$253.8M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,772.5−0.032%$15.1M$44.1M50xas long as short
Variational Omni ETH+0.0100%8h2,774.7+0.048%$141.6M$331.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,772.6−0.028%$181.5M$779.6M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,772.5−0.033%$161.3M$91.1M50xas long as short
StandX ETH-USD+0.0100%1h2,773.5+0.003%$21.4M$58.2M40xas long as short
Vest ETH-PERP+0.0100%1h2,771.8−0.057%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,772.2−0.044%$10.8M$7.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,773.5+0.002%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,774.9+0.052%$42.7M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,771.9−0.053%$972K$14.0M100xas long as short
Extended ETH-USD+0.0104%1h2,770.2−0.116%$32.6M$77.7M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,773.6+0.005%$59.7M$4.60B50xas long as short
Kalshi KXETHPERP+0.0125%8h2,773.4−0.001%$8.4M$680.5M4.9xas long as short
Orderly PERP_ETH_USDC+0.0136%8h2,775.2+0.063%$32.5M$12.0M100xas long as short
Kraken Futures PF_ETHUSDshort+0.0170%1h2,773.4−0.002%$86.0M$332.4M100x
BloFin ETH-USDT+0.0184%8h2,772.5−0.033%$283.9M$194.3M150xas long as short
Reya ETHRUSDPERP+0.0194%1h2,770.8−0.094%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,773.9+0.017%$270K$1.5M20xas long as short