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Funding arb · Price arb /

ETH

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Alert: spread
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Funding you earn now, next payment 09:00 UTC+0.0006%/8h= +0.7% APRpaid last 24h −0.024%
Price spread now: gTrade (Gains Network) against Kalshi+0.044%7-day average +0.014% · 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−$16as in the Price arb table
costs, in and out, $10k−$190.192% of the position
Long on KalshiShort on gTrade (Gains Network)
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.052%−$5 on $10k
Price spread, last 7 days−0.046%−$5 · spread now +0.044%, 7d avg +0.014%
Together, before fees−0.098%−$10 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: gTrade (Gains Network) is 0.030% dearer against Kalshi than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.014%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKalshi KXETHPERP2,7300get 0.0000% / 8h3h 50m$6.7M$672.9M4.9x
ShortgTrade (Gains Network) ETH/USD2,731.2L +0.0007% / S −0.0006%get 0.0001% / 1h50m 36s$33.0M—200x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Kalshi. 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
$1.32
Price spread: +0.044% → +0.014%
$3.05
Slippage, 4 orders
−$2.16
Fee Kalshi: 5 bp × 2 orders
−$10
Fee gTrade (Gains Network): 3.5 bp × 2 orders
−$7
Net
−$14.79
Costs to cover
0.192%
Break-even
85.3 days
Slippage from Kalshi: 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
LegHalf-spread$10k$100k$1M$5M
Buy Kalshi live order book, 4 min ago0.37 bp5.7 bp −$67.1 bp −$7110.0 bp −$1,00216.5 bp −$8,247
Sell gTrade (Gains Network) virtual book (oracle venue), 4 min ago0.53 bp4.1 bp −$44.1 bp −$415.0 bp −$5018.9 bp −$4,457

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−0.0112%43m2,729.6−0.015%$277K$5.7M8.3xas long as short
Phemex ETHUSDT−0.0105%8h2,730.7+0.024%$263.1M$63.9M150xas long as short
Hotstuff ETH-PERP−0.0080%1h2,729.9−0.004%$5K$1K50xas long as short
Phoenix ETH−0.0012%1h2,728.7−0.048%$805K$3.0M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,731.1+0.041%$11.9M—200xas long as short
dYdX ETH-USD0.0000%1h2,731.2+0.044%$10.5M$41.9M50xas long as short
Kalshi KXETHPERPlong0.0000%8h2,730long leg$6.7M$672.9M4.9x
Deribit ETH-PERPETUAL0.0000%1h2,731.9+0.069%$264.6M$218.8M50xas long as short
gTrade (Gains Network) ETH/USDshortL +0.0007% / S −0.0006%1h2,731.2+0.044%$33.0M—200x
HTX ETH-USDT+0.0008%8h2,730.4+0.013%$1.05B$1.21B200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BloFin ETH-USDT+0.0028%8h2,730.8+0.029%$281.4M$177.8M150xas long as short
Bybit ETHUSDT+0.0033%8h2,730.5+0.019%$2.32B$4.31B150xas long as short
ApeX Omni ETHUSDT+0.0037%1h2,728.2−0.067%$8.4M$31.2M100xas long as short
01 Exchange ETHUSD+0.0064%1h2,731.5+0.055%$191K$883K50xas long as short
OKX ETH-USDT-SWAP+0.0080%8h2,730.6+0.021%$1.66B$10.74B100xas long as short
KuCoin ETHUSDTM+0.0085%8h2,731.8+0.067%$383.8M$576.6M100xas long as short
Aster ETHUSDT+0.0086%8h2,730.7+0.026%$252.3M$849.1M200xas long as short
Hibachi ETH/USDT-P+0.0088%1h2,729.4−0.021%$241K$1.4M20xas long as short
MEXC ETH_USDT+0.0093%8h2,731.2+0.042%$1.57B$2.55B500xas long as short
Binance ETHUSDT+0.0094%8h2,730.9+0.035%$6.31B$16.08B150xas long as short
SunX ETH-USDT+0.0096%8h2,730.2+0.006%$946K$10.6M100xas long as short
Lighter ETH+0.0096%1h2,732.1+0.077%$112.6M$400.8M50xas long as short
Lighter RH ETH+0.0096%1h2,733.6+0.133%$23.6M$95.6M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,728.3−0.062%—$30.5M500xas long as short
Aevo ETH-PERP+0.0096%1h2,728.7−0.047%$4.9M$193K20xas long as short
Katana Perps ETH-USD+0.0100%8h2,730.9+0.033%$500K$3.6M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,734.6+0.168%$15.4M$7.4M50xas long as short
Nado ETH-PERP+0.0100%1h2,731.1+0.040%$14.1M$102.1M50xas long as short
Hyperliquid ETH+0.0100%1h2,733.9+0.143%$3.11B$2.04B25xas long as short
Pacifica ETH+0.0100%1h2,732.6+0.095%$32.1M$332.5M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,731.4+0.051%$2.7M$16.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,731.5+0.054%$1.6M$16.0M25xas long as short
Bulk ETH-USD+0.0100%1h2,727.1−0.106%$161.7M$337.0M25xas long as short
Gate ETH_USDT+0.0100%8h2,731.2+0.045%$3.30B$8.21B200xas long as short
Bitget ETHUSDT+0.0100%8h2,731.3+0.046%$2.11B$2.76B150xas long as short
BingX ETH-USDT+0.0100%8h2,731.3+0.046%—$1.06B—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,731.3+0.047%$15.2M$40.0M50xas long as short
Variational Omni ETH+0.0100%8h2,730.3+0.013%$131.3M$316.0M—as long as short
edgeX ETHUSDC+0.0100%4h2,727.1−0.106%$185.5M$684.6M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,729−0.038%$158.7M$80.6M50xas long as short
StandX ETH-USD+0.0100%1h2,730.5+0.018%$21.0M$70.5M40xas long as short
Vest ETH-PERP+0.0100%1h2,731.8+0.067%—$441K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,731.6+0.059%$11.2M$9.4M50xas long as short
Bullet ETH-USD+0.0100%1h2,730.7+0.026%$178K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,731.5+0.056%$20K$23K25xas long as short
Derive ETH-PERP+0.0100%1h2,731.7+0.061%$40.6M$29.2M15xas long as short
SoDEX ETH-USD+0.0100%1h2,731+0.037%$54.4M$182.5M40xas long as short
Aftermath Perps ETHUSD+0.0104%1h2,728.3−0.063%$30K$20K20xas long as short
Extended ETH-USD+0.0104%1h2,730.3+0.010%$30.5M$71.3M50xas long as short
Kraken Futures PF_ETHUSD+0.0105%1h2,731.7+0.062%$82.0M$310.2M100xas long as short
Coinbase International ETH-PERP-INTX+0.0120%1h2,732.2+0.081%$46.5M$4.25B50xas long as short
RISEx ETH/USDC+0.0137%1h2,731.9+0.068%$5.6M$11.5M25xas long as short
Reya ETHRUSDPERP+0.0175%1h2,730.1+0.002%$7.3M$972K25xas long as short
Orderly PERP_ETH_USDC+0.0187%8h2,733.4+0.123%$32.2M$11.2M100xas long as short
Injective ETH/USDC PERP+0.0253%1h2,727.8−0.081%$117K$19.3M52xas long as short