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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 04:00 UTC+0.0685%/8h= +75.0% APRpaid last 24h +0.019%
Price spread now: Bluefin against Katana Perps−0.058%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on Katana PerpsShort on Bluefin
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—needs both histories
Funding pays, the price is against you. Bluefin is 0.058% cheaper against Katana Perps than usual: you would sell low and buy high (spread −0.058% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 7 hours of funding at the current rate (+$21 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKatana Perps ETH-USD2,729.10.0100pay 0.0100% / 8h4h 46m$498K$3.2M50x
ShortBluefin ETH-PERP2,727.50.0784get 0.0098% / 1h46m 47s$21K$20K25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bluefin against Katana Perps. 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
$143.76
Price spread: −0.058% → 0.000%
−$5.75
Slippage, 4 orders
no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders
−$3.8
Fee Bluefin: 3.5 bp × 2 orders
−$7
Net
$127.2
Costs to cover
0.108%
Break-even
0.8 days
Slippage unknown: Katana Perps: no order-book sample; Bluefin: 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
LegHalf-spread$10k$100k$1M$5M
Buy Katana Perps no order-book sample—————
Sell Bluefin no order-book sample—————
Katana Perps and Bluefin: 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%43m2,728.8−0.012%$298K$5.6M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,726.4−0.099%$117K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,725.3−0.139%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,729.1+0.001%$12.0M—200xas long as short
dYdX ETH-USD0.0000%1h2,727.5−0.060%$10.7M$41.7M50xas long as short
01 Exchange ETHUSD0.0000%1h2,728.1−0.037%$188K$843K50xas long as short
Phoenix ETH0.0000%1h2,728.8−0.011%$826K$2.9M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,728.5−0.021%$25.7M—200xas long as short
Bullet ETH-USD+0.0025%1h2,728.6−0.018%$180K$1.7M20xas long as short
SoDEX ETH-USD+0.0040%1h2,726.4−0.099%$54.3M$187.6M40xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDT+0.0056%8h2,726.4−0.099%—$1.15B—as long as short
KuCoin ETHUSDTM+0.0071%8h2,726.4−0.098%$379.4M$575.8M100xas long as short
OKX ETH-USDT-SWAP+0.0072%8h2,727.6−0.053%$1.66B$10.67B100xas long as short
Deribit ETH-PERPETUAL+0.0076%1h2,727.9−0.044%$260.1M$196.9M50xas long as short
Aster ETHUSDT+0.0079%8h2,726.5−0.096%$251.8M$843.4M200xas long as short
Aevo ETH-PERP+0.0088%1h2,726.9−0.082%$4.9M$154K20xas long as short
MEXC ETH_USDT+0.0089%8h2,726.4−0.099%$1.53B$2.54B500xas long as short
Binance ETHUSDT+0.0089%8h2,726.6−0.092%$6.33B$15.83B150xas long as short
Lighter ETH+0.0096%1h2,726.9−0.081%$112.0M$434.7M50xas long as short
Lighter RH ETH+0.0096%1h2,728.1−0.038%$23.2M$105.5M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,727.5−0.059%—$30.6M500xas long as short
HTX ETH-USDT+0.0096%8h2,725.5−0.133%$1.05B$1.19B200xas long as short
Bybit ETHUSDT+0.0097%8h2,726.8−0.085%$2.38B$4.33B150xas long as short
RISEx ETH/USDC+0.0099%1h2,730.3+0.043%$5.6M$11.5M25xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,730.3+0.045%$15.7M$8.0M50xas long as short
Katana Perps ETH-USDlong+0.0100%8h2,729.1long leg$498K$3.2M50x
Nado ETH-PERP+0.0100%1h2,727.5−0.060%$13.7M$104.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,729.7+0.022%$3.09B$2.06B25xas long as short
Pacifica ETH+0.0100%1h2,727.9−0.045%$31.6M$333.8M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,727.4−0.062%$2.7M$16.9M25xas long as short
Arcus ETH-USD+0.0100%1h2,729.9+0.030%$2.8M$16.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,740.8+0.427%$166.9M$306.7M25xas long as short
Gate ETH_USDT+0.0100%8h2,726.7−0.089%$3.34B$8.77B200xas long as short
Bitget ETHUSDT+0.0100%8h2,728−0.040%$2.07B$2.75B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,727.2−0.071%$14.9M$39.7M50xas long as short
Variational Omni ETH+0.0100%8h2,734.9+0.212%$133.1M$324.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,732.7+0.132%$181.8M$667.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,729−0.003%$158.7M$84.8M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,732.1+0.109%$8.7M$30.8M100xas long as short
StandX ETH-USD+0.0100%1h2,728−0.040%$21.1M$69.6M40xas long as short
Vest ETH-PERP+0.0100%1h2,728.9−0.009%—$843K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,730.2+0.040%$10.9M$8.8M50xas long as short
Derive ETH-PERP+0.0100%1h2,728.1−0.035%$41.2M$29.7M15xas long as short
SunX ETH-USDT+0.0100%8h2,725.7−0.125%$956K$11.4M100xas long as short
Phemex ETHUSDT+0.0100%8h2,727.3−0.067%$265.1M$65.4M150xas long as short
Extended ETH-USD+0.0104%1h2,725.6−0.128%$30.4M$72.5M50xas long as short
Aftermath Perps ETHUSD+0.0110%1h2,734.5+0.197%$30K$20K20xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,727.9−0.044%$51.9M$4.25B50xas long as short
Kalshi KXETHPERP+0.0155%8h2,726−0.114%$6.3M$676.7M4.9xas long as short
Orderly PERP_ETH_USDC+0.0193%8h2,728.6−0.018%$32.1M$11.5M100xas long as short
Kraken Futures PF_ETHUSD+0.0223%1h2,726.9−0.079%$84.5M$313.4M100xas long as short
Reya ETHRUSDPERP+0.0223%1h2,727.8−0.046%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,729−0.004%$253K$1.4M20xas long as short
BloFin ETH-USDT+0.0251%8h2,726.4−0.101%$284.6M$174.6M150xas long as short
Bluefin ETH-PERPshort+0.0784%1h2,727.5−0.058%$21K$20K25x