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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−0.0094%/8h= −10.3% APRpaid last 24h −0.028%
Price spread now: gTrade (Gains Network) against Katana Perps+0.032%7-day average +0.009% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Katana PerpsShort on gTrade (Gains Network)
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.085%−$8 on $10k
Price spread, last 3 days (all we have)+0.036%+$4 · spread now +0.032%, 7d avg +0.009%
Together, before fees−0.049%−$5 on $10k · with fees, hour by hour
The price spread pays, funding is against you. gTrade (Gains Network) is 0.023% dearer against Katana Perps than usual: you sell high and buy low (spread +0.032% now, against its 7-day average of +0.009%): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 20 hours.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKatana Perps ETH-USD2,774.50.0100pay 0.0100% / 8h2h 25m$482K$2.7M50x
ShortgTrade (Gains Network) ETH/USD2,775.4L +0.0006% / S −0.0006%get 0.0001% / 1h25m 26s$22.4M—200x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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
−$19.72
Price spread: +0.032% → +0.009%
$2.3
Slippage, 4 orders
no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders
−$3.8
Fee gTrade (Gains Network): 3.5 bp × 2 orders
−$7
Net
−$28.21
Costs to cover
0.108%
Break-even
never at this rate
Slippage unknown: Katana Perps: no order-book sample; gTrade (Gains Network): virtual book (oracle venue), 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 gTrade (Gains Network) virtual book (oracle venue), 4 min ago0.54 bp4.0 bp −$44.1 bp −$415.0 bp −$5008.9 bp −$4,453
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%43m2,774.8+0.011%$289K$6.9M8.3xas long as short
Injective ETH/USDC PERP−0.0107%1h2,766.1−0.303%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,771.9−0.094%$5K$2K50xas long as short
01 Exchange ETHUSD−0.0056%1h2,775.1+0.022%$172K$1.2M50xas long as short
Phoenix ETH−0.0023%1h2,773.4−0.040%$798K$3.7M25xas long as short
RISEx ETH/USDC−0.0011%1h2,774.9+0.015%$5.8M$11.9M25xas long as short
dYdX ETH-USD0.0000%1h2,775.6+0.041%$12.7M$45.5M50xas long as short
gTrade (Gains Network) ETH/USDshortL +0.0006% / S −0.0006%1h2,775.4+0.032%$22.4M—200x
Aftermath Perps ETHUSD+0.0007%1h2,771.1−0.122%$29K$22K20xas long as short
Phemex ETHUSDT+0.0011%8h2,776.7+0.081%$267.3M$66.0M150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
ApeX Omni ETHUSDT+0.0018%1h2,771.4−0.114%$8.8M$32.6M100xas long as short
OKX ETH-USDT-SWAP+0.0021%8h2,774.3−0.008%$1.71B$11.90B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0028% / S +0.0009%1h2,775.3+0.028%$13.2M—200xas long as short
Aster ETHUSDT+0.0039%8h2,774.8+0.009%$256.7M$995.9M200xas long as short
MEXC ETH_USDT+0.0045%8h2,774.6+0.004%$1.60B$2.67B500xas long as short
Binance ETHUSDT+0.0047%8h2,774.5+0.001%$6.44B$17.22B150xas long as short
Aevo ETH-PERP+0.0048%1h2,774.7+0.007%$5.0M$636K20xas long as short
Gate ETH_USDT+0.0070%8h2,774.7+0.008%$3.28B$9.65B200xas long as short
Bitget ETHUSDT+0.0073%8h2,774.5+0.001%$2.10B$3.12B150xas long as short
Bullet ETH-USD+0.0082%1h2,774.5−0.001%$185K$1.8M20xas long as short
Variational Omni ETH+0.0091%8h2,768.2−0.226%$140.3M$320.2M—as long as short
Lighter ETH+0.0096%1h2,775.1+0.022%$115.3M$513.5M50xas long as short
Lighter RH ETH+0.0096%1h2,776.4+0.070%$25.4M$122.6M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,775.3+0.031%—$41.7M500xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,774.6+0.003%$15.9M$10.9M50xas long as short
Katana Perps ETH-USDlong+0.0100%8h2,774.5long leg$482K$2.7M50x
Nado ETH-PERP+0.0100%1h2,774.9+0.016%$14.6M$117.0M50xas long as short
Hyperliquid ETH+0.0100%1h2,777+0.088%$3.20B$2.39B25xas long as short
Pacifica ETH+0.0100%1h2,775.4+0.032%$31.2M$287.3M50xas long as short
Bybit ETHUSDT+0.0100%8h2,774.6+0.005%$2.51B$4.64B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,774.1−0.014%$2.9M$16.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,776.8+0.082%$2.8M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,765.9−0.309%$164.9M$256.3M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,774.6+0.004%$424.2M$741.3M100xas long as short
BingX ETH-USDT+0.0100%8h2,774.5−0.001%—$1.18B—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,776.8+0.084%$15.4M$42.4M50xas long as short
edgeX ETHUSDC+0.0100%4h2,770.9−0.128%$178.1M$791.8M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,772.8−0.060%$161.3M$97.1M50xas long as short
StandX ETH-USD+0.0100%1h2,774.4−0.004%$21.4M$57.7M40xas long as short
Vest ETH-PERP+0.0100%1h2,775.2+0.027%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,776+0.054%$10.8M$7.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,775.6+0.040%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,778.4+0.142%$42.7M$29.2M15xas long as short
SunX ETH-USDT+0.0100%8h2,775.6+0.038%$973K$14.2M100xas long as short
SoDEX ETH-USD+0.0100%1h2,776+0.054%$55.3M$228.6M40xas long as short
HTX ETH-USDT+0.0100%8h2,776+0.055%$1.08B$1.32B200xas long as short
Extended ETH-USD+0.0104%1h2,774.2−0.009%$31.4M$76.1M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,777.7+0.115%$60.3M$4.63B50xas long as short
Kalshi KXETHPERP+0.0119%8h2,775.1+0.022%$8.5M$672.9M4.9xas long as short
Orderly PERP_ETH_USDC+0.0131%8h2,777.7+0.114%$32.6M$12.0M100xas long as short
BloFin ETH-USDT+0.0166%8h2,773.2−0.047%$285.3M$195.4M150xas long as short
Deribit ETH-PERPETUAL+0.0179%1h2,777.7+0.117%$258.4M$224.8M50xas long as short
Reya ETHRUSDPERP+0.0182%1h2,774.6+0.002%$7.4M$1.1M25xas long as short
Kraken Futures PF_ETHUSD+0.0240%1h2,777.3+0.102%$87.0M$330.7M100xas long as short
Hibachi ETH/USDT-P+0.0432%1h2,777.3+0.102%$285K$1.5M20xas long as short