ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0012%/8h= +1.3% APRnext payment +$0.12 per $10,000 · paid last 24h +0.047%

Price spread now: Orderly against Kalshi+0.058%7-day average +0.112% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Kalshi Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.322%+$32 on $10k

Price spread, last 3 days (all we have)−0.127%−$13 · spread now +0.058%, 7d avg +0.112%

Together, before fees+0.195%+$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. Orderly is 0.054% cheaper against Kalshi than usual: you would sell low and buy high (spread +0.058% now, against its 7-day average of +0.112%). If the spread goes back, that is −$5 on $10k: about 15 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.322% in total) that is about 28 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXETHPERP	2,767.3	0.0118	pay 0.0118% / 8h	6h 32m	$8.6M	$672.3M	4.9x
Short	Orderly PERP_ETH_USDC	2,768.9	0.0131	get 0.0131% / 8h	2h 32m	$32.5M	$11.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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

Position, each leg$Hold fordaysFee KalshibpFee OrderlybpOrdersPrice spread, now +0.058%Rate

Funding earned: $2.56
Price spread: +0.058% → +0.112%: −$5.37
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$18.81
Costs to cover: 0.160%
Break-even: 58.4 days

Slippage unknown: Kalshi: live order book, 2 min ago; Orderly: no order-book sample. Net counts fees only.

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 Kalshi live order book, 2 min ago	0.18 bp	5.2 bp −$5	6.0 bp −$60	9.2 bp −$925	15.7 bp −$7,852
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ETH	−0.0112%	43m	2,766.9	−0.016%	$289K	$6.8M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0107%	1h	2,766.1	−0.043%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,766.8	−0.018%	$5K	$2K	50x	as long as short
01 Exchange ETHUSD	−0.0056%	1h	2,766.7	−0.022%	$171K	$1.2M	50x	as long as short
ApeX Omni ETHUSDT	−0.0052%	1h	2,767.5	+0.009%	$8.8M	$32.5M	100x	as long as short
Phoenix ETH	−0.0023%	1h	2,767	−0.011%	$794K	$3.7M	25x	as long as short
RISEx ETH/USDC	−0.0011%	1h	2,766.5	−0.028%	$5.8M	$11.8M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,767.4	+0.003%	$12.7M	$45.5M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,767.2	−0.003%	$22.4M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0021%	8h	2,765.8	−0.053%	$1.71B	$11.84B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex ETHUSDT	+0.0023%	8h	2,766.1	−0.045%	$266.3M	$66.0M	150x	as long as short
Aftermath Perps ETHUSD	+0.0026%	1h	2,767.6	+0.012%	$29K	$21K	20x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,767	−0.009%	$13.1M	—	200x	as long as short
Aster ETHUSDT	+0.0037%	8h	2,766	−0.048%	$255.7M	$995.0M	200x	as long as short
MEXC ETH_USDT	+0.0046%	8h	2,765.8	−0.055%	$1.62B	$2.66B	500x	as long as short
Binance ETHUSDT	+0.0046%	8h	2,765.9	−0.049%	$6.42B	$17.20B	150x	as long as short
Aevo ETH-PERP	+0.0048%	1h	2,764	−0.121%	$5.0M	$636K	20x	as long as short
Gate ETH_USDT	+0.0066%	8h	2,766	−0.047%	$3.28B	$9.62B	200x	as long as short
Deribit ETH-PERPETUAL	+0.0072%	1h	2,767.7	+0.013%	$258.4M	$224.6M	50x	as long as short
Bitget ETHUSDT	+0.0073%	8h	2,765.7	−0.057%	$2.09B	$3.13B	150x	as long as short
Bullet ETH-USD	+0.0078%	1h	2,766.1	−0.043%	$184K	$1.8M	20x	as long as short
Variational Omni ETH	+0.0092%	8h	2,764	−0.118%	$140.6M	$319.6M	—	as long as short
Lighter ETH	+0.0096%	1h	2,766.5	−0.031%	$115.2M	$511.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,767.9	+0.023%	$25.4M	$122.3M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,767.3	0.000%	—	$41.7M	500x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,766.2	−0.039%	$15.9M	$10.9M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,766.8	−0.018%	$479K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,766.4	−0.034%	$14.8M	$116.9M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,768.8	+0.054%	$3.19B	$2.38B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,767	−0.010%	$31.1M	$285.6M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,766	−0.049%	$2.50B	$4.64B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,766.2	−0.040%	$2.9M	$16.5M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,768.6	+0.046%	$2.8M	$17.5M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,765.5	−0.064%	$164.9M	$254.7M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,766.2	−0.039%	$424.3M	$740.9M	100x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,765.8	−0.053%	—	$1.18B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,766.6	−0.026%	$15.3M	$42.4M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,764.4	−0.104%	$177.7M	$792.2M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,765.8	−0.055%	$160.8M	$97.1M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,766.4	−0.033%	$21.4M	$57.7M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,767.2	−0.004%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,767.8	+0.018%	$10.8M	$7.8M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,767.1	−0.006%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,768.6	+0.048%	$42.6M	$29.2M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,765.7	−0.058%	$970K	$14.2M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,765.7	−0.058%	$55.1M	$228.6M	40x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,766.2	−0.038%	$1.08B	$1.32B	200x	as long as short
Extended ETH-USD	+0.0104%	1h	2,765.5	−0.064%	$31.4M	$76.1M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,767.7	+0.016%	$60.0M	$4.62B	50x	as long as short
Kalshi KXETHPERPlong	+0.0118%	8h	2,767.3	long leg	$8.6M	$672.3M	4.9x
Orderly PERP_ETH_USDCshort	+0.0131%	8h	2,768.9	+0.058%	$32.5M	$11.9M	100x
BloFin ETH-USDT	+0.0166%	8h	2,765.5	−0.067%	$285.6M	$194.7M	150x	as long as short
Reya ETHRUSDPERP	+0.0184%	1h	2,765.3	−0.073%	$7.5M	$992K	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0241%	1h	2,767.1	−0.009%	$87.5M	$330.0M	100x	as long as short
Hibachi ETH/USDT-P	+0.0416%	1h	2,768.5	+0.044%	$290K	$1.5M	20x	as long as short