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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 00:00 UTC−0.0008%/8h= −0.9% APRpaid last 24h +0.006%
Price spread now: 01 Exchange against Kalshi−0.043%7-day average +0.018% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$28as in the Price arb table
costs, in and out, $10k−$220.222% of the position
Long on KalshiShort on 01 Exchange
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.002%$0 on $10k
Price spread, last 4 days (all we have)−0.305%−$30 · spread now −0.043%, 7d avg +0.018%
Together, before fees−0.307%−$31 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: 01 Exchange is 0.062% cheaper against Kalshi than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.018%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKalshi KXETHPERP2,775.90get 0.0000% / 8h4h 01m$8.2M$689.1M4.9x
Short01 Exchange ETHUSD2,774.7−0.0008pay 0.0001% / 1h1m 11s$168K$1.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

01 Exchange 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
−$1.68
Price spread: −0.043% → +0.018%
−$6.16
Slippage, 4 orders
−$5.16
Fee Kalshi: 5 bp × 2 orders
−$10
Fee 01 Exchange: 3.5 bp × 2 orders
−$7
Net
−$30
Costs to cover
0.222%
Break-even
never at this rate
Slippage from Kalshi: live order book, 3 min ago; 01 Exchange: live order book, 3 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, 3 min ago0.18 bp5.5 bp −$67.2 bp −$7211.3 bp −$1,12618.1 bp −$9,051
Sell 01 Exchange live order book, 3 min ago0.18 bp5.3 bp −$510.7 bp −$107doesn't fitdoesn'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−0.0223%43m2,774.9−0.037%$286K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0206%1h2,774.2−0.061%$5.6M$11.9M25xas long as short
Injective ETH/USDC PERP−0.0088%1h2,762.1−0.497%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,775.5−0.014%$5K$2K50xas long as short
01 Exchange ETHUSDshort−0.0008%1h2,774.7−0.043%$168K$1.2M50x
ApeX Omni ETHUSDT−0.0007%1h2,775.8−0.005%$8.7M$32.9M100xas long as short
dYdX ETH-USD0.0000%1h2,775.8−0.003%$12.7M$45.9M50xas long as short
Kalshi KXETHPERPlong0.0000%8h2,775.9long leg$8.2M$689.1M4.9x
Phoenix ETH+0.0003%1h2,776+0.004%$877K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,776.7+0.029%$22.4M—200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0021%8h2,776.2+0.009%$1.71B$11.91B100xas long as short
Phemex ETHUSDT+0.0023%8h2,776.1+0.009%$270.5M$68.7M150xas long as short
GMX ETH/USD [ETH-USDC]L +0.0026% / S +0.0009%1h2,776.4+0.017%$12.8M—200xas long as short
SoDEX ETH-USD+0.0028%1h2,776.4+0.018%$55.3M$228.8M40xas long as short
Bullet ETH-USD+0.0033%1h2,775.1−0.028%$182K$1.7M20xas long as short
Aftermath Perps ETHUSD+0.0033%1h2,773.6−0.082%$29K$22K20xas long as short
Aster ETHUSDT+0.0035%8h2,776.5+0.020%$256.3M$1.00B200xas long as short
MEXC ETH_USDT+0.0055%8h2,776+0.002%$1.62B$2.67B500xas long as short
Aevo ETH-PERP+0.0056%1h2,773.6−0.082%$5.0M$636K20xas long as short
Binance ETHUSDT+0.0056%8h2,776.1+0.006%$6.47B$17.29B150xas long as short
Bitget ETHUSDT+0.0065%8h2,776.4+0.018%$2.11B$3.10B150xas long as short
Gate ETH_USDT+0.0066%8h2,776.2+0.010%$3.29B$9.71B200xas long as short
Deribit ETH-PERPETUAL+0.0074%1h2,778.1+0.079%$259.1M$222.1M50xas long as short
KuCoin ETHUSDTM+0.0080%8h2,776.2+0.012%$423.1M$738.8M100xas long as short
Bybit ETHUSDT+0.0087%8h2,776.3+0.014%$2.51B$4.62B150xas long as short
BingX ETH-USDT+0.0088%8h2,776.3+0.015%—$1.24B—as long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,778.3+0.085%$60.7M$4.60B50xas long as short
Nado ETH-PERP+0.0092%1h2,774.1−0.065%$14.4M$118.2M50xas long as short
HTX ETH-USDT+0.0094%8h2,775.9+0.001%$1.08B$1.32B200xas long as short
Lighter ETH+0.0096%1h2,776.7+0.030%$115.3M$502.1M50xas long as short
Lighter RH ETH+0.0096%1h2,778.4+0.092%$25.3M$122.2M50xas long as short
Vest ETH-PERP+0.0097%1h2,775.2−0.024%—$1.1M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,774.4−0.056%$15.9M$10.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,774.2−0.061%$483K$2.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,778.7+0.101%$3.18B$2.36B25xas long as short
Pacifica ETH+0.0100%1h2,774.8−0.040%$31.3M$316.9M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,773.9−0.072%$2.8M$17.3M25xas long as short
Arcus ETH-USD+0.0100%1h2,775−0.032%$2.7M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,769.4−0.234%$169.4M$262.8M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,776.6+0.024%$15.1M$44.2M50xas long as short
Variational Omni ETH+0.0100%8h2,773.8−0.075%$151.5M$345.4M—as long as short
edgeX ETHUSDC+0.0100%4h2,775−0.033%$182.2M$785.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,770.2−0.204%$161.1M$89.4M50xas long as short
StandX ETH-USD+0.0100%1h2,774.6−0.047%$21.5M$58.7M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,775.4−0.018%$10.6M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,776.8+0.034%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,779+0.111%$42.8M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,773.7−0.078%$973K$13.9M100xas long as short
Extended ETH-USD+0.0104%1h2,776+0.003%$32.5M$78.4M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,775.1−0.027%—$43.8M500xas long as short
Kraken Futures PF_ETHUSD+0.0123%1h2,777.9+0.073%$90.9M$338.7M100xas long as short
Orderly PERP_ETH_USDC+0.0145%8h2,779+0.113%$32.7M$12.2M100xas long as short
BloFin ETH-USDT+0.0176%8h2,776.5+0.021%$287.4M$193.9M150xas long as short
Hibachi ETH/USDT-P+0.0192%1h2,775.9+0.001%$253K$1.6M20xas long as short
Reya ETHRUSDPERP+0.0206%1h2,774.8−0.039%$7.4M$1.2M25xas long as short