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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 00:00 UTC+0.0023%/8h= +2.5% APRpaid last 24h +0.001%
Price spread now: Kraken Futures against Katana Perps+0.033%7-day average +0.006% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Katana PerpsShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.003%$0 on $10k
Price spread, last 3 days (all we have)−0.065%−$6 · spread now +0.033%, 7d avg +0.006%
Together, before fees−0.062%−$6 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Kraken Futures is 0.028% dearer against Katana Perps than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.006%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKatana Perps ETH-USD2,783.50.0100pay 0.0100% / 8h51m 01s$479K$2.7M50x
ShortKraken Futures PF_ETHUSD2,784.40.0122get 0.0015% / 1h51m 01s$86.8M$332.8M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures 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
$4.74
Price spread: +0.033% → +0.006%
$2.76
Slippage, 4 orders
no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders
−$3.8
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
−$6.3
Costs to cover
0.138%
Break-even
16.3 days
Slippage unknown: Katana Perps: no order-book sample; Kraken Futures: live order book, 3 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 Kraken Futures live order book, 3 min ago0.18 bp5.9 bp −$67.4 bp −$748.9 bp −$88913.3 bp −$6,671
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−0.0447%43m2,784.9+0.050%$288K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0206%1h2,783.3−0.008%$5.7M$11.9M25xas long as short
Injective ETH/USDC PERP−0.0088%1h2,782.5−0.036%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,785.9+0.086%$5K$2K50xas long as short
ApeX Omni ETHUSDT−0.0066%1h2,786.6+0.111%$8.8M$32.8M100xas long as short
01 Exchange ETHUSD−0.0024%1h2,783.8+0.011%$169K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0006%1h2,782.5−0.036%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,784.6+0.040%$12.8M$45.9M50xas long as short
Phoenix ETH+0.0003%1h2,785+0.054%$888K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,784.4+0.032%$22.5M—200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0014%8h2,782.9−0.023%—$17.4M—as long as short
OKX ETH-USDT-SWAP+0.0020%8h2,783.4−0.005%$1.70B$11.92B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0026% / S +0.0009%1h2,784.2+0.026%$12.9M—200xas long as short
Phemex ETHUSDT+0.0027%8h2,783.3−0.009%$271.2M$68.8M150xas long as short
Aster ETHUSDT+0.0039%8h2,783.3−0.008%$256.8M$1.00B200xas long as short
Aevo ETH-PERP+0.0064%1h2,783.6+0.002%$5.1M$636K20xas long as short
Bitget ETHUSDT+0.0065%8h2,783.50.000%$2.11B$3.11B150xas long as short
MEXC ETH_USDT+0.0066%8h2,783.2−0.011%$1.60B$2.63B500xas long as short
Binance ETHUSDT+0.0066%8h2,783.5−0.001%$6.46B$17.27B150xas long as short
Gate ETH_USDT+0.0072%8h2,783.3−0.007%$3.31B$9.58B200xas long as short
Bullet ETH-USD+0.0072%1h2,783.7+0.007%$184K$1.7M20xas long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,784.6+0.039%$60.3M$4.62B50xas long as short
KuCoin ETHUSDTM+0.0090%8h2,783.3−0.006%$423.5M$739.5M100xas long as short
Bybit ETHUSDT+0.0090%8h2,783.5−0.002%$2.52B$4.63B150xas long as short
HTX ETH-USDT+0.0090%8h2,783.1−0.014%$1.08B$1.32B200xas long as short
Lighter ETH+0.0096%1h2,784+0.018%$116.3M$495.4M50xas long as short
Lighter RH ETH+0.0096%1h2,785.2+0.060%$25.4M$120.7M50xas long as short
Vest ETH-PERP+0.0097%1h2,784.3+0.030%—$1.1M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,783.3−0.008%$16.0M$10.5M50xas long as short
Katana Perps ETH-USDlong+0.0100%8h2,783.5long leg$479K$2.7M50x
Nado ETH-PERP+0.0100%1h2,785.3+0.064%$14.4M$118.2M50xas long as short
Hyperliquid ETH+0.0100%1h2,785.9+0.086%$3.20B$2.35B25xas long as short
Pacifica ETH+0.0100%1h2,785.3+0.064%$31.3M$306.5M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,783.3−0.007%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,784.8+0.046%$2.7M$17.2M25xas long as short
Bulk ETH-USD+0.0100%1h2,777.9−0.200%$168.1M$250.4M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,783−0.017%$15.1M$44.0M50xas long as short
Variational Omni ETH+0.0100%8h2,781.4−0.075%$147.6M$336.7M—as long as short
edgeX ETHUSDC+0.0100%4h2,782.4−0.041%$182.1M$780.5M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,784.1+0.021%$161.9M$90.2M50xas long as short
StandX ETH-USD+0.0100%1h2,784.5+0.036%$21.5M$58.3M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,784.5+0.036%$10.8M$7.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,784.3+0.029%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,785.5+0.071%$42.9M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,782.9−0.021%$976K$13.9M100xas long as short
SoDEX ETH-USD+0.0100%1h2,783.4−0.004%$55.4M$229.0M40xas long as short
Extended ETH-USD+0.0104%1h2,782.9−0.022%$32.7M$77.7M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,784.2+0.025%—$41.8M500xas long as short
Deribit ETH-PERPETUAL+0.0116%1h2,785+0.053%$258.9M$222.8M50xas long as short
Kraken Futures PF_ETHUSDshort+0.0122%1h2,784.4+0.033%$86.8M$332.8M100x
Kalshi KXETHPERP+0.0124%8h2,784.8+0.047%$8.5M$682.3M4.9xas long as short
Orderly PERP_ETH_USDC+0.0136%8h2,786.2+0.096%$32.7M$12.1M100xas long as short
BloFin ETH-USDT+0.0186%8h2,783.3−0.008%$285.1M$195.1M150xas long as short
Reya ETHRUSDPERP+0.0198%1h2,783.3−0.005%$7.4M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0288%1h2,785.5+0.072%$271K$1.5M20xas long as short