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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 22:00 UTC−0.0021%/8h= −2.4% APRpaid last 24h −0.007%
Price spread now: Bullet against Katana Perps−0.024%7-day average +0.051% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on Katana PerpsShort on Bullet
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.042%−$4 on $10k
Price spread, last 7 days+0.058%+$6 · spread now −0.024%, 7d avg +0.051%
Together, before fees+0.015%+$2 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bullet is 0.075% cheaper against Katana Perps than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.051%). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKatana Perps ETH-USD2,766.80.0100pay 0.0100% / 8h2h 32m$479K$2.7M50x
ShortBullet ETH-USD2,766.10.0078get 0.0010% / 1h32m 17s$184K$1.8M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bullet 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
−$4.51
Price spread: −0.024% → +0.051%
−$7.51
Slippage, 4 orders
no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders
−$3.8
Fee Bullet: 4 bp × 2 orders
−$8
Net
−$23.82
Costs to cover
0.118%
Break-even
never at this rate
Slippage unknown: Katana Perps: no order-book sample; Bullet: live order book, 2 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 Katana Perps no order-book sample—————
Sell Bullet live order book, 2 min ago0.18 bp6.5 bp −$79.8 bp −$98doesn't fitdoesn't fit
Katana 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−0.0112%43m2,766.9+0.002%$289K$6.8M8.3xas long as short
Injective ETH/USDC PERP−0.0107%1h2,766.1−0.025%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,766.80.000%$5K$2K50xas long as short
01 Exchange ETHUSD−0.0056%1h2,766.7−0.004%$171K$1.2M50xas long as short
ApeX Omni ETHUSDT−0.0052%1h2,767.5+0.027%$8.8M$32.5M100xas long as short
Phoenix ETH−0.0023%1h2,767+0.007%$794K$3.7M25xas long as short
RISEx ETH/USDC−0.0011%1h2,766.5−0.010%$5.8M$11.8M25xas long as short
dYdX ETH-USD0.0000%1h2,767.4+0.021%$12.7M$45.5M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,767.2+0.016%$22.4M—200xas long as short
OKX ETH-USDT-SWAP+0.0021%8h2,765.6−0.042%$1.71B$11.84B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phemex ETHUSDT+0.0023%8h2,766.1−0.027%$266.3M$66.0M150xas long as short
Aftermath Perps ETHUSD+0.0026%1h2,767.6+0.030%$29K$21K20xas long as short
GMX ETH/USD [ETH-USDC]L +0.0028% / S +0.0009%1h2,767+0.009%$13.1M—200xas long as short
Aster ETHUSDT+0.0037%8h2,766−0.027%$255.7M$995.0M200xas long as short
MEXC ETH_USDT+0.0046%8h2,765.8−0.037%$1.62B$2.66B500xas long as short
Binance ETHUSDT+0.0046%8h2,765.8−0.035%$6.42B$17.20B150xas long as short
Aevo ETH-PERP+0.0048%1h2,764−0.103%$5.0M$636K20xas long as short
Gate ETH_USDT+0.0066%8h2,766.3−0.018%$3.28B$9.62B200xas long as short
Deribit ETH-PERPETUAL+0.0072%1h2,767.7+0.031%$258.4M$224.6M50xas long as short
Bitget ETHUSDT+0.0073%8h2,765.9−0.034%$2.09B$3.13B150xas long as short
Bullet ETH-USDshort+0.0078%1h2,766.1−0.024%$184K$1.8M20x
Variational Omni ETH+0.0092%8h2,764−0.100%$140.6M$319.6M—as long as short
Lighter ETH+0.0096%1h2,766.5−0.013%$115.2M$511.7M50xas long as short
Lighter RH ETH+0.0096%1h2,767.9+0.041%$25.4M$122.3M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,767.3+0.019%—$41.7M500xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,766.2−0.021%$15.9M$10.9M50xas long as short
Katana Perps ETH-USDlong+0.0100%8h2,766.8long leg$479K$2.7M50x
Nado ETH-PERP+0.0100%1h2,766.4−0.016%$14.8M$116.9M50xas long as short
Hyperliquid ETH+0.0100%1h2,769.1+0.083%$3.19B$2.38B25xas long as short
Pacifica ETH+0.0100%1h2,767+0.008%$31.1M$285.6M50xas long as short
Bybit ETHUSDT+0.0100%8h2,765.7−0.041%$2.50B$4.64B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,766.2−0.022%$2.9M$16.5M25xas long as short
Arcus ETH-USD+0.0100%1h2,768.6+0.064%$2.8M$17.5M25xas long as short
Bulk ETH-USD+0.0100%1h2,765.5−0.046%$164.9M$254.7M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,766.2−0.021%$424.3M$740.9M100xas long as short
BingX ETH-USDT+0.0100%8h2,766.1−0.024%—$1.18B—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,766.4−0.015%$15.3M$42.4M50xas long as short
edgeX ETHUSDC+0.0100%4h2,764.4−0.086%$177.7M$792.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,765.8−0.037%$160.8M$97.1M50xas long as short
StandX ETH-USD+0.0100%1h2,766.4−0.014%$21.4M$57.7M40xas long as short
Vest ETH-PERP+0.0100%1h2,767.2+0.014%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,767.8+0.036%$10.8M$7.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,767.1+0.012%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,768.6+0.066%$42.6M$29.2M15xas long as short
SunX ETH-USDT+0.0100%8h2,765.7−0.040%$970K$14.2M100xas long as short
SoDEX ETH-USD+0.0100%1h2,765.7−0.040%$55.1M$228.6M40xas long as short
HTX ETH-USDT+0.0100%8h2,766.2−0.020%$1.08B$1.32B200xas long as short
Extended ETH-USD+0.0104%1h2,765.5−0.046%$31.4M$76.1M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,767.7+0.034%$60.0M$4.62B50xas long as short
Kalshi KXETHPERP+0.0118%8h2,767.3+0.018%$8.6M$672.3M4.9xas long as short
Orderly PERP_ETH_USDC+0.0131%8h2,768.9+0.076%$32.5M$11.9M100xas long as short
BloFin ETH-USDT+0.0166%8h2,765.5−0.049%$285.6M$194.7M150xas long as short
Reya ETHRUSDPERP+0.0184%1h2,765.3−0.055%$7.5M$992K25xas long as short
Kraken Futures PF_ETHUSD+0.0241%1h2,767.1+0.010%$87.5M$330.0M100xas long as short
Hibachi ETH/USDT-P+0.0416%1h2,768.5+0.062%$290K$1.5M20xas long as short