ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0130%/8h= −14.3% APRnext payment −$0.16 per $10,000 · paid last 24h −0.005%

Price spread now: Bullet against Kraken Futures+0.008%7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$220.220% of the position

Long on Kraken Futures Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.035%−$3 on $10k

Price spread, last 3 days (all we have)+0.014%+$1 · spread now +0.008%, 7d avg −0.012%

Together, before fees−0.021%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.012%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ETHUSD	2,779.7	0.0169	pay 0.0021% / 1h	37m 38s	$86.3M	$330.4M	100x
Short	Bullet ETH-USD	2,779.9	0.0039	get 0.0005% / 1h	37m 38s	$182K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Kraken Futures. 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

Position, each leg$Hold fordaysFee Kraken FuturesbpFee BulletbpOrdersPrice spread, now +0.008%Rate

Funding earned: −$27.39
Price spread: +0.008% → −0.012%: $1.99
Slippage, 4 orders: −$4.03
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$47.43
Costs to cover: 0.220%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; Bullet: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Kraken Futures live order book, 2 min ago	0.18 bp	5.7 bp −$6	6.3 bp −$63	7.7 bp −$770	11.2 bp −$5,589
Sell Bullet live order book, 2 min ago	0.18 bp	4.7 bp −$5	8.1 bp −$81	doesn't fit	doesn't fit

ETH on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ETH	−0.0447%	43m	2,779.7	−0.001%	$289K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,776.1	−0.130%	$5.8M	$12.0M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,777.5	−0.079%	$5K	$2K	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,779.2	−0.017%	$119K	$22.5M	52x	as long as short
01 Exchange ETHUSD	−0.0032%	1h	2,779.6	−0.003%	$170K	$1.2M	50x	as long as short
Aftermath Perps ETHUSD	−0.0022%	1h	2,778.4	−0.046%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,778.2	−0.054%	$12.7M	$45.5M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,781.4	+0.062%	$885K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,780.7	+0.038%	$22.5M	—	200x	as long as short
Phemex ETHUSDT	+0.0010%	8h	2,778.1	−0.058%	$270.2M	$68.6M	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDT	+0.0015%	8h	2,776.6	−0.113%	—	$1.18B	—	as long as short
OKX ETH-USDT-SWAP	+0.0020%	8h	2,776.1	−0.130%	$1.71B	$11.83B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,780.7	+0.035%	$13.2M	—	200x	as long as short
Aster ETHUSDT	+0.0037%	8h	2,777.2	−0.090%	$256.6M	$989.6M	200x	as long as short
Bullet ETH-USDshort	+0.0039%	1h	2,779.9	+0.008%	$182K	$1.7M	20x
Nado ETH-PERP	+0.0058%	1h	2,779.8	+0.003%	$14.3M	$117.8M	50x	as long as short
MEXC ETH_USDT	+0.0062%	8h	2,777.1	−0.094%	$1.62B	$2.65B	500x	as long as short
Binance ETHUSDT	+0.0062%	8h	2,776.5	−0.114%	$6.44B	$17.10B	150x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,778.2	−0.054%	$5.0M	$636K	20x	as long as short
Bitget ETHUSDT	+0.0072%	8h	2,776.4	−0.120%	$2.10B	$3.10B	150x	as long as short
Gate ETH_USDT	+0.0073%	8h	2,776.6	−0.111%	$3.29B	$9.58B	200x	as long as short
Bybit ETHUSDT	+0.0095%	8h	2,776.3	−0.121%	$2.52B	$4.59B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,777.1	−0.095%	$115.1M	$498.0M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,778.1	−0.059%	$25.4M	$121.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,779.2	−0.019%	—	$41.5M	500x	as long as short
HTX ETH-USDT	+0.0096%	8h	2,778.6	−0.039%	$1.08B	$1.31B	200x	as long as short
KuCoin ETHUSDTM	+0.0099%	8h	2,776.1	−0.130%	$426.1M	$737.6M	100x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,775.7	−0.142%	$15.9M	$10.5M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,777	−0.097%	$481K	$2.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,778.8	−0.032%	$3.19B	$2.36B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,777	−0.097%	$31.4M	$297.6M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,775.9	−0.136%	$2.8M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,778.2	−0.052%	$2.8M	$17.3M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,781.3	+0.059%	$166.9M	$248.1M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,778.5	−0.041%	$15.2M	$44.4M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,781.7	+0.073%	$135.5M	$322.3M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,780.9	+0.044%	$180.2M	$779.0M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,779.5	−0.008%	$161.7M	$92.5M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,781	+0.046%	$8.7M	$32.6M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,780.7	+0.036%	$21.5M	$57.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,779.9	+0.008%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,781	+0.047%	$10.8M	$7.6M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,780	+0.012%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,781.1	+0.050%	$42.8M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,777.5	−0.077%	$974K	$14.0M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,778.6	−0.039%	$55.3M	$228.8M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,775.8	−0.139%	$31.6M	$74.6M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,779.8	+0.003%	$60.4M	$4.60B	50x	as long as short
Kalshi KXETHPERP	+0.0115%	8h	2,779.5	−0.007%	$8.7M	$673.4M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0117%	1h	2,780.3	+0.021%	$258.4M	$221.8M	50x	as long as short
Hibachi ETH/USDT-P	+0.0120%	1h	2,782.2	+0.090%	$279K	$1.5M	20x	as long as short
Orderly PERP_ETH_USDC	+0.0139%	8h	2,782.7	+0.110%	$32.6M	$12.0M	100x	as long as short
Kraken Futures PF_ETHUSDlong	+0.0169%	1h	2,779.7	long leg	$86.3M	$330.4M	100x
BloFin ETH-USDT	+0.0182%	8h	2,778.4	−0.046%	$285.3M	$194.6M	150x	as long as short
Reya ETHRUSDPERP	+0.0189%	1h	2,779.7	+0.001%	$7.4M	$1.1M	25x	as long as short