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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 02:00 UTC+0.0117%/8h= +12.8% APRpaid last 24h +0.003%
Price spread now: Deribit against KuCoin+0.055%7-day average +0.043% · you sell dearer than you buy
Net, funding: paid 7d − costs−$16as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$210.213% of the position
Long on KuCoinShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 7 days+0.054%+$5 on $10k
Price spread, last 3 days (all we have)−0.005%−$1 · spread now +0.055%, 7d avg +0.043%
Together, before fees+0.049%+$5 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.043%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKuCoin ETHUSDTM2,751.50.0073pay 0.0073% / 8h6h 27m$382.2M$607.1M100x
ShortDeribit ETH-PERPETUAL2,7530.0190get 0.0024% / 1h27m 48s$258.5M$200.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit against KuCoin. 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
$24.57
Price spread: +0.055% → +0.043%
$1.16
Slippage, 4 orders
−$2.26
Fee KuCoin: 6 bp × 2 orders
−$12
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
$4.47
Costs to cover
0.213%
Break-even
5.7 days
Slippage from KuCoin: live order book, 6 min ago; Deribit: live order book, 1 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 KuCoin live order book, 6 min ago0.02 bp6.0 bp −$67.9 bp −$799.7 bp −$969doesn't fit
Sell Deribit live order book, 1 min ago0.09 bp4.0 bp −$45.3 bp −$5311.5 bp −$1,15326.4 bp −$13.2K

ETH on 54 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%43m2,750.1−0.049%$310K$6.0M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,748.2−0.120%$5K$1K50xas long as short
RISEx ETH/USDC−0.0071%1h2,750−0.056%$5.6M$11.3M25xas long as short
ApeX Omni ETHUSDT−0.0014%1h2,748.2−0.119%$8.7M$31.6M100xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,750.8−0.025%$11.9M—200xas long as short
Phoenix ETH−0.0006%1h2,749.4−0.076%$848K$3.1M25xas long as short
dYdX ETH-USD0.0000%1h2,749.2−0.083%$10.8M$41.9M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,751.3−0.006%$22.2M—200xas long as short
01 Exchange ETHUSD+0.0016%1h2,749.6−0.069%$181K$1.1M50xas long as short
BingX ETH-USDC+0.0032%8h2,752.9+0.051%—$17.3M—as long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0045%8h2,753.1+0.057%$1.69B$11.02B100xas long as short
HTX ETH-USDT+0.0051%8h2,751.1−0.014%$1.07B$1.21B200xas long as short
Aster ETHUSDT+0.0066%8h2,752.2+0.024%$253.2M$857.7M200xas long as short
Aevo ETH-PERP+0.0072%1h2,749−0.091%$4.9M$168K20xas long as short
MEXC ETH_USDT+0.0073%8h2,751.8+0.011%$1.57B$2.56B500xas long as short
KuCoin ETHUSDTMlong+0.0073%8h2,751.5long leg$382.2M$607.1M100x
Binance ETHUSDT+0.0076%8h2,753.5+0.072%$6.37B$16.21B150xas long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,752.9+0.049%$59.1M$4.37B50xas long as short
Bitget ETHUSDT+0.0092%8h2,752.7+0.044%$2.08B$2.85B150xas long as short
Phemex ETHUSDT+0.0096%8h2,751.4−0.003%$267.5M$66.0M150xas long as short
Lighter ETH+0.0096%1h2,753.4+0.068%$113.1M$442.6M50xas long as short
Lighter RH ETH+0.0096%1h2,754.3+0.100%$24.9M$107.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,750−0.055%—$35.4M500xas long as short
Gate ETH_USDT+0.0099%8h2,753+0.055%$3.40B$8.87B200xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,754.2+0.097%$15.9M$8.1M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,748.8−0.098%$468K$2.9M50xas long as short
Nado ETH-PERP+0.0100%1h2,748.7−0.103%$14.0M$112.9M50xas long as short
Hyperliquid ETH+0.0100%1h2,755.1+0.131%$3.14B$2.13B25xas long as short
Pacifica ETH+0.0100%1h2,750−0.055%$31.5M$333.9M50xas long as short
Bybit ETHUSDT+0.0100%8h2,753.2+0.062%$2.46B$4.33B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,748.8−0.098%$2.8M$16.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,750.5−0.038%$2.8M$16.5M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,751−0.017%$15.1M$41.7M50xas long as short
Variational Omni ETH+0.0100%8h2,747.4−0.148%$133.1M$346.1M—as long as short
edgeX ETHUSDC+0.0100%4h2,747.9−0.132%$181.7M$730.1M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,745.8−0.207%$159.7M$84.5M50xas long as short
StandX ETH-USD+0.0100%1h2,750−0.055%$21.3M$67.8M40xas long as short
Vest ETH-PERP+0.0100%1h2,750.2−0.047%—$869K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,749.8−0.062%$10.7M$8.6M50xas long as short
Bullet ETH-USD+0.0100%1h2,750.2−0.047%$182K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,751.6+0.004%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,753.1+0.059%$41.8M$29.3M15xas long as short
SunX ETH-USDT+0.0100%8h2,749.6−0.070%$963K$12.4M100xas long as short
SoDEX ETH-USD+0.0100%1h2,751.6+0.004%$54.8M$187.6M40xas long as short
Bulk ETH-USD+0.0100%1h2,743.9−0.275%$165.5M$306.7M25xas long as short
Aftermath Perps ETHUSD+0.0104%1h2,748.3−0.118%$30K$20K20xas long as short
Extended ETH-USD+0.0104%1h2,750.7−0.028%$30.5M$74.1M50xas long as short
Kalshi KXETHPERP+0.0139%8h2,750.4−0.040%$7.6M$674.5M4.9xas long as short
Orderly PERP_ETH_USDC+0.0169%8h2,753.8+0.083%$32.4M$11.1M100xas long as short
Deribit ETH-PERPETUALshort+0.0190%1h2,753+0.055%$258.5M$200.2M50x
Hibachi ETH/USDT-P+0.0200%1h2,749.7−0.067%$250K$1.5M20xas long as short
Injective ETH/USDC PERP+0.0209%1h2,747.9−0.131%$118K$22.5M52xas long as short
Reya ETHRUSDPERP+0.0220%1h2,749.1−0.089%$7.3M$1.1M25xas long as short
Kraken Futures PF_ETHUSD+0.0353%1h2,752.6+0.038%$90.0M$316.4M100xas long as short