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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 01:00 UTC+0.0083%/8h= +9.1% APRpaid last 24h 0.000%
Price spread now: Deribit against Katana Perps+0.077%7-day average +0.040% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Katana PerpsShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.004%$0 on $10k
Price spread, last 3 days (all we have)−0.054%−$5 · spread now +0.077%, 7d avg +0.040%
Together, before fees−0.058%−$6 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Deribit is 0.037% dearer against Katana Perps than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.040%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKatana Perps ETH-USD2,769.60.0100pay 0.0100% / 8h7h 15m$488K$2.7M50x
ShortDeribit ETH-PERPETUAL2,771.70.0183get 0.0023% / 1h15m 18s$259.1M$203.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit 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
$17.47
Price spread: +0.077% → +0.040%
$3.71
Slippage, 4 orders
no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders
−$3.8
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
$10.38
Costs to cover
0.108%
Break-even
2.8 days
Slippage unknown: Katana Perps: no order-book sample; Deribit: live order book, 4 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 Deribit live order book, 4 min ago0.45 bp4.7 bp −$55.7 bp −$5713.7 bp −$1,37332.3 bp −$16.1K
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
Injective ETH/USDC PERP−0.0752%1h2,765.8−0.137%$119K$22.5M52xas long as short
RISEx ETH/USDC−0.0128%1h2,769.5−0.005%$5.6M$11.2M25xas long as short
Perpl ETH−0.0112%43m2,769.4−0.006%$340K$6.3M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,770.1+0.018%$5K$1K50xas long as short
01 Exchange ETHUSD−0.0032%1h2,769.9+0.011%$169K$1.1M50xas long as short
Phoenix ETH−0.0003%1h2,770.2+0.022%$874K$3.7M25xas long as short
dYdX ETH-USD0.0000%1h2,769.9+0.010%$12.3M$43.2M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,770.9+0.046%$22.4M—200xas long as short
Bullet ETH-USD+0.0017%1h2,770.1+0.016%$185K$1.7M20xas long as short
OKX ETH-USDT-SWAP+0.0028%8h2,770+0.014%$1.71B$11.13B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX ETH-USD+0.0033%1h2,770.2+0.022%$55.2M$188.0M40xas long as short
GMX ETH/USD [ETH-USDC]L +0.0043% / S −0.0009%1h2,770.7+0.041%$12.7M—200xas long as short
Aster ETHUSDT+0.0048%8h2,770.2+0.023%$256.5M$886.0M200xas long as short
Aevo ETH-PERP+0.0056%1h2,767.7−0.068%$5.0M$165K20xas long as short
MEXC ETH_USDT+0.0057%8h2,770.4+0.029%$1.61B$2.66B500xas long as short
Binance ETHUSDT+0.0060%8h2,770.2+0.023%$6.48B$16.25B150xas long as short
Phemex ETHUSDT+0.0060%8h2,770.1+0.017%$269.6M$67.1M150xas long as short
Gate ETH_USDT+0.0067%8h2,770.5+0.032%$3.38B$9.07B200xas long as short
Bitget ETHUSDT+0.0077%8h2,770.3+0.026%$2.10B$2.86B150xas long as short
Aftermath Perps ETHUSD+0.0080%1h2,770.1+0.019%$31K$21K20xas long as short
Coinbase International ETH-PERP-INTX+0.0080%1h2,771.6+0.074%$60.4M$4.43B50xas long as short
Vest ETH-PERP+0.0081%1h2,769.9+0.011%—$876K50xas long as short
KuCoin ETHUSDTM+0.0087%8h2,770+0.015%$420.7M$604.4M100xas long as short
HTX ETH-USDT+0.0088%8h2,769.60.000%$1.08B$1.24B200xas long as short
ApeX Omni ETHUSDT+0.0094%1h2,768.5−0.041%$8.6M$32.1M100xas long as short
Lighter ETH+0.0096%1h2,769.9+0.010%$115.0M$459.2M50xas long as short
Lighter RH ETH+0.0096%1h2,771+0.052%$25.6M$111.8M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,773.3+0.132%$15.9M$8.5M50xas long as short
Katana Perps ETH-USDlong+0.0100%8h2,769.6long leg$488K$2.7M50x
Nado ETH-PERP+0.0100%1h2,769.3−0.012%$14.6M$113.5M50xas long as short
Hyperliquid ETH+0.0100%1h2,772.3+0.097%$3.17B$2.19B25xas long as short
Pacifica ETH+0.0100%1h2,770.2+0.022%$31.2M$328.0M50xas long as short
Bybit ETHUSDT+0.0100%8h2,770.3+0.026%$2.51B$4.32B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,769.2−0.014%$2.8M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,770.2+0.023%$2.8M$16.9M25xas long as short
Bulk ETH-USD+0.0100%1h2,763.5−0.219%$172.0M$292.0M25xas long as short
BingX ETH-USDC+0.0100%8h2,770.2+0.021%—$17.3M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,770+0.013%$15.1M$42.1M50xas long as short
Variational Omni ETH+0.0100%8h2,768.4−0.042%$133.7M$347.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,766.7−0.104%$181.6M$786.5M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,766.3−0.121%$161.0M$84.5M50xas long as short
StandX ETH-USD+0.0100%1h2,769.2−0.014%$21.4M$64.0M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,770+0.014%$10.5M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,770.4+0.029%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,772.1+0.090%$42.6M$28.9M15xas long as short
SunX ETH-USDT+0.0100%8h2,769.60.000%$970K$12.9M100xas long as short
Extended ETH-USD+0.0104%1h2,769.6−0.001%$30.9M$75.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,770.7+0.039%—$36.2M500xas long as short
Kalshi KXETHPERP+0.0110%8h2,770.1+0.018%$8.1M$677.4M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0134%1h2,771.8+0.078%$97.9M$320.6M100xas long as short
Hibachi ETH/USDT-P+0.0152%1h2,770.3+0.025%$253K$1.5M20xas long as short
Orderly PERP_ETH_USDC+0.0155%8h2,772.7+0.113%$32.7M$11.1M100xas long as short
BloFin ETH-USDT+0.0178%8h2,767.2−0.087%$287.6M$178.6M150xas long as short
Deribit ETH-PERPETUALshort+0.0183%1h2,771.7+0.077%$259.1M$203.2M50x
Reya ETHRUSDPERP+0.0213%1h2,769.9+0.012%$7.3M$1.1M25xas long as short