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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 08:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h −0.034%
Price spread now: Phemex against Kraken Futures+0.002%7-day average −0.012% · you sell dearer than you buy
Net, funding: paid 7d − costs−$38as in the Funding arb table
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$240.236% of the position
Long on Kraken FuturesShort on Phemex
What this pair did over the last
the charts below follow
Funding, last 7 days−0.144%−$14 on $10k
Price spread, last 4 days (all we have)−0.019%−$2 · spread now +0.002%, 7d avg −0.012%
Together, before fees−0.162%−$16 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: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.144%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKraken Futures PF_ETHUSD2,730.40.0060pay 0.0007% / 1h41m 11s$82.1M$309.4M100x
ShortPhemex ETHUSDT2,730.50.0100get 0.0100% / 8h41m 11s$263.2M$64.4M150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex 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
$8.42
Price spread: +0.002% → −0.012%
$1.37
Slippage, 4 orders
−$1.57
Fee Kraken Futures: 5 bp × 2 orders
−$10
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$13.78
Costs to cover
0.236%
Break-even
18.5 days
Slippage from Kraken Futures: live order book, 3 min ago; Phemex: live order book, 3 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, 3 min ago0.18 bp5.7 bp −$67.2 bp −$729.0 bp −$89612.3 bp −$6,136
Sell Phemex live order book, 3 min ago0.02 bp6.0 bp −$67.0 bp −$7010.5 bp −$1,045doesn't fit

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
BloFin ETH-USDT−0.0188%8h2,730.2−0.009%$280.6M$177.9M150xas long as short
Hotstuff ETH-PERP−0.0080%1h2,731+0.021%$5K$1K50xas long as short
Phoenix ETH−0.0015%1h2,732.8+0.087%$811K$3.0M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,730.5+0.003%$11.9M—200xas long as short
dYdX ETH-USD0.0000%1h2,731.3+0.030%$10.5M$42.6M50xas long as short
Kalshi KXETHPERP0.0000%8h2,731.6+0.043%$6.4M$681.6M4.9xas long as short
Perpl ETH0.0000%43m2,730.5+0.004%$286K$5.7M8.3xas long as short
Deribit ETH-PERPETUAL0.0000%1h2,730.8+0.015%$262.6M$212.4M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,730.6+0.005%$32.9M—200xas long as short
BingX ETH-USDC+0.0019%8h2,729.8−0.023%—$18.6M—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit ETHUSDT+0.0023%8h2,729.9−0.021%$2.33B$4.36B150xas long as short
HTX ETH-USDT+0.0028%8h2,730.1−0.014%$1.05B$1.22B200xas long as short
01 Exchange ETHUSD+0.0032%1h2,731+0.021%$191K$889K50xas long as short
Injective ETH/USDC PERP+0.0050%1h2,731.5+0.039%$117K$20.2M52xas long as short
ApeX Omni ETHUSDT+0.0057%1h2,731.2+0.029%$8.6M$31.6M100xas long as short
Kraken Futures PF_ETHUSDlong+0.0060%1h2,730.4long leg$82.1M$309.4M100x
KuCoin ETHUSDTM+0.0072%8h2,729.9−0.019%$383.8M$577.3M100xas long as short
Hibachi ETH/USDT-P+0.0072%1h2,732.8+0.086%$242K$1.4M20xas long as short
OKX ETH-USDT-SWAP+0.0074%8h2,730−0.016%$1.65B$10.85B100xas long as short
Aster ETHUSDT+0.0081%8h2,730−0.016%$252.8M$849.3M200xas long as short
MEXC ETH_USDT+0.0093%8h2,730.1−0.012%$1.56B$2.56B500xas long as short
Binance ETHUSDT+0.0094%8h2,730.1−0.013%$6.32B$16.15B150xas long as short
Lighter ETH+0.0096%1h2,730.8+0.014%$112.6M$429.7M50xas long as short
Lighter RH ETH+0.0096%1h2,732+0.059%$23.5M$102.0M50xas long as short
Aevo ETH-PERP+0.0096%1h2,729.1−0.048%$4.9M$183K20xas long as short
Katana Perps ETH-USD+0.0100%8h2,730−0.016%$501K$3.5M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,734.4+0.147%$15.4M$7.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,730.5+0.001%$14.0M$104.9M50xas long as short
Hyperliquid ETH+0.0100%1h2,733.4+0.109%$3.12B$2.04B25xas long as short
Pacifica ETH+0.0100%1h2,731.5+0.041%$32.1M$333.6M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,730.9+0.017%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,731.1+0.025%$1.5M$15.9M25xas long as short
Bulk ETH-USD+0.0100%1h2,729.5−0.033%$162.7M$356.9M25xas long as short
Gate ETH_USDT+0.0100%8h2,730.4−0.001%$3.31B$8.86B200xas long as short
Bitget ETHUSDT+0.0100%8h2,730.3−0.006%$2.10B$2.77B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,732+0.057%$15.0M$41.2M50xas long as short
Variational Omni ETH+0.0100%8h2,731.6+0.044%$134.1M$318.3M—as long as short
edgeX ETHUSDC+0.0100%4h2,730.40.000%$185.7M$681.4M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,732+0.058%$158.8M$83.6M50xas long as short
StandX ETH-USD+0.0100%1h2,731.5+0.039%$21.0M$70.6M40xas long as short
Vest ETH-PERP+0.0100%1h2,732.2+0.067%—$445K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,731.6+0.043%$11.2M$9.4M50xas long as short
Bullet ETH-USD+0.0100%1h2,730.3−0.005%$184K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,731.3+0.033%$22K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,733.5+0.111%$41.0M$30.1M15xas long as short
SunX ETH-USDT+0.0100%8h2,729.9−0.021%$957K$10.9M100xas long as short
SoDEX ETH-USD+0.0100%1h2,730.1−0.012%$54.4M$187.2M40xas long as short
Phemex ETHUSDTshort+0.0100%8h2,730.5+0.002%$263.2M$64.4M150x
Aftermath Perps ETHUSD+0.0104%1h2,731.6+0.042%$30K$20K20xas long as short
Extended ETH-USD+0.0104%1h2,729.4−0.039%$30.4M$72.2M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0056%1h2,730.8+0.012%—$30.4M500xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,731.5+0.037%$46.6M$4.30B50xas long as short
RISEx ETH/USDC+0.0114%1h2,731.1+0.024%$5.6M$11.7M25xas long as short
Reya ETHRUSDPERP+0.0183%1h2,729.1−0.050%$7.3M$975K25xas long as short
Orderly PERP_ETH_USDC+0.0185%8h2,732.5+0.076%$32.2M$11.2M100xas long as short