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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 03:00 UTC−0.0159%/8h= −17.4% APRpaid last 24h −0.025%
Price spread now: OKX against Kraken Futures−0.013%7-day average −0.019% · you buy dearer than you sell
Net, funding: paid 7d − costs−$35as in the Funding arb table
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$220.220% of the position
Long on Kraken FuturesShort on OKX
What this pair did over the last
the charts below follow
Funding, last 7 days−0.128%−$13 on $10k
Price spread, last 4 days (all we have)+0.130%+$13 · spread now −0.013%, 7d avg −0.019%
Together, before fees+0.001%$0 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.019%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKraken Futures PF_ETHUSD2,7390.0222pay 0.0028% / 1h38m 44s$87.0M$310.4M100x
ShortOKX ETH-USDT-SWAP2,738.70.0063get 0.0063% / 8h5h 38m$1.70B$10.56B100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

OKX 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

Funding earned
−$33.29
Price spread: −0.013% → −0.019%
$0.65
Slippage, 4 orders
−$1.98
Fee Kraken Futures: 5 bp × 2 orders
−$10
Fee OKX: 5 bp × 2 orders
−$10
Net
−$54.62
Costs to cover
0.220%
Break-even
never at this rate
Slippage from Kraken Futures: live order book, 5 min ago; OKX: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Kraken Futures live order book, 5 min ago0.18 bp6.3 bp −$67.1 bp −$718.5 bp −$85511.8 bp −$5,908
Sell OKX live order book, 5 min ago0.02 bp5.0 bp −$55.0 bp −$505.6 bp −$5618.2 bp −$4,118

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%43m2,740.3+0.046%$304K$5.6M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,741.3+0.082%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,743.1+0.148%$118K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,738.7−0.013%$12.0M—200xas long as short
dYdX ETH-USD0.0000%1h2,738.9−0.006%$10.8M$41.8M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,738.8−0.008%$22.1M—200xas long as short
Phoenix ETH+0.0017%1h2,744.7+0.207%$846K$2.9M25xas long as short
01 Exchange ETHUSD+0.0040%1h2,739.7+0.024%$182K$916K50xas long as short
BingX ETH-USDT+0.0049%8h2,738.9−0.007%—$1.15B—as long as short
KuCoin ETHUSDTM+0.0063%8h2,738.4−0.024%$383.0M$597.9M100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAPshort+0.0063%8h2,738.7−0.013%$1.70B$10.56B100x
RISEx ETH/USDC+0.0077%1h2,739.7+0.022%$5.6M$11.2M25xas long as short
Bullet ETH-USD+0.0077%1h2,738.4−0.023%$181K$1.7M20xas long as short
Aster ETHUSDT+0.0080%8h2,738.9−0.007%$252.0M$841.2M200xas long as short
Aevo ETH-PERP+0.0088%1h2,735.6−0.125%$4.9M$155K20xas long as short
MEXC ETH_USDT+0.0089%8h2,738.9−0.005%$1.56B$2.53B500xas long as short
Binance ETHUSDT+0.0090%8h2,738.8−0.008%$6.37B$15.72B150xas long as short
HTX ETH-USDT+0.0095%8h2,738.1−0.036%$1.06B$1.18B200xas long as short
Lighter ETH+0.0096%1h2,739.4+0.012%$112.6M$432.7M50xas long as short
Lighter RH ETH+0.0096%1h2,740.5+0.055%$24.6M$103.7M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,741.2+0.078%—$30.8M500xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,739.3+0.008%$58.7M$4.26B50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,742.8+0.137%$16.0M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,739.2+0.006%$468K$3.0M50xas long as short
Nado ETH-PERP+0.0100%1h2,739.2+0.006%$13.9M$106.2M50xas long as short
Hyperliquid ETH+0.0100%1h2,740.8+0.064%$3.11B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,739.3+0.009%$31.6M$335.1M50xas long as short
Bybit ETHUSDT+0.0100%8h2,738.8−0.009%$2.45B$4.18B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,738.3−0.027%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,739.5+0.018%$2.7M$16.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,743.5+0.164%$165.1M$304.9M25xas long as short
Gate ETH_USDT+0.0100%8h2,738.8−0.009%$3.39B$8.71B200xas long as short
Bitget ETHUSDT+0.0100%8h2,739.2+0.004%$2.08B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,738.5−0.022%$14.9M$40.9M50xas long as short
Variational Omni ETH+0.0100%8h2,736.2−0.103%$132.4M$335.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,739.2+0.007%$182.0M$689.8M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,743.5+0.163%$159.5M$82.5M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,742.5+0.124%$8.9M$31.0M100xas long as short
StandX ETH-USD+0.0100%1h2,740.8+0.064%$21.2M$68.9M40xas long as short
Vest ETH-PERP+0.0100%1h2,740.6+0.057%—$819K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,740.2+0.042%$11.0M$8.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,739.1+0.002%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,740.2+0.042%$41.5M$29.5M15xas long as short
SunX ETH-USDT+0.0100%8h2,738.3−0.026%$960K$11.5M100xas long as short
SoDEX ETH-USD+0.0100%1h2,738.2−0.031%$54.5M$187.5M40xas long as short
Phemex ETHUSDT+0.0100%8h2,738.2−0.030%$266.3M$65.1M150xas long as short
Extended ETH-USD+0.0104%1h2,737.8−0.044%$30.6M$72.4M50xas long as short
Deribit ETH-PERPETUAL+0.0126%1h2,739.7+0.023%$258.7M$196.1M50xas long as short
Aftermath Perps ETHUSD+0.0136%1h2,742.2+0.115%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0156%8h2,740.5+0.053%$7.7M$668.6M4.9xas long as short
Orderly PERP_ETH_USDC+0.0189%8h2,740.6+0.057%$32.2M$11.4M100xas long as short
BloFin ETH-USDT+0.0210%8h2,738.4−0.024%$284.3M$177.3M150xas long as short
Kraken Futures PF_ETHUSDlong+0.0222%1h2,739long leg$87.0M$310.4M100x
Reya ETHRUSDPERP+0.0226%1h2,739−0.002%$7.3M$1.1M25xas long as short
Hibachi ETH/USDT-P+0.0240%1h2,742+0.107%$250K$1.4M20xas long as short