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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+0.0156%/8h= +17.1% APRpaid last 24h +0.008%
Price spread now: Kraken Futures against KuCoin+0.012%52s7-day average +0.009% · you sell dearer than you buy
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$240.245% of the position
Long on KuCoinShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 7 days+0.134%+$13 on $10k
Price spread, last 4 days (all we have)−0.102%−$10 · spread now +0.012%, 7d avg +0.009%
Together, before fees+0.032%+$3 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.009%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKuCoin ETHUSDTM2,745.70.0065pay 0.0065% / 8h5h 32m$383.5M$584.1M100x
ShortKraken Futures PF_ETHUSD2,7460.0221get 0.0028% / 1h32m 27s$87.0M$310.2M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures 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
$32.77
Price spread: +0.012% → +0.009%
$0.23
Slippage, 4 orders
−$2.48
Fee KuCoin: 6 bp × 2 orders
−$12
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$8.52
Costs to cover
0.245%
Break-even
5.2 days
Slippage from KuCoin: live order book, 7 min ago; Kraken Futures: live order book, 2 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, 7 min ago0.02 bp6.7 bp −$78.3 bp −$8310.8 bp −$1,076doesn't fit
Sell Kraken Futures live order book, 2 min ago0.36 bp5.9 bp −$66.7 bp −$678.1 bp −$80611.6 bp −$5,794

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
Hotstuff ETH-PERP−0.0080%1h2,745.3−0.013%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,743.1−0.093%$118K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,745.3−0.014%$12.1M—200xas long as short
dYdX ETH-USD0.0000%1h2,745.1−0.020%$10.8M$41.8M50xas long as short
Perpl ETH0.0000%43m2,745−0.025%$305K$5.6M8.3xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,745.3−0.011%$22.2M—200xas long as short
Phoenix ETH+0.0017%1h2,745.2−0.016%$848K$2.9M25xas long as short
01 Exchange ETHUSD+0.0032%1h2,745.8+0.005%$183K$914K50xas long as short
ApeX Omni ETHUSDT+0.0046%1h2,741.3−0.158%$8.9M$30.9M100xas long as short
BingX ETH-USDC+0.0050%8h2,744.8−0.030%—$18.4M—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0064%8h2,745.4−0.008%$1.70B$10.57B100xas long as short
KuCoin ETHUSDTMlong+0.0065%8h2,745.7long leg$383.5M$584.1M100x
RISEx ETH/USDC+0.0077%1h2,746.2+0.020%$5.7M$11.2M25xas long as short
Bullet ETH-USD+0.0081%1h2,744.9−0.026%$181K$1.7M20xas long as short
Aster ETHUSDT+0.0082%8h2,745.3−0.013%$252.4M$841.0M200xas long as short
Aevo ETH-PERP+0.0088%1h2,742.5−0.116%$4.9M$155K20xas long as short
MEXC ETH_USDT+0.0089%8h2,745.6−0.003%$1.56B$2.54B500xas long as short
Binance ETHUSDT+0.0091%8h2,745.7+0.002%$6.38B$15.68B150xas long as short
Lighter ETH+0.0096%1h2,745.6−0.001%$112.8M$433.5M50xas long as short
Lighter RH ETH+0.0096%1h2,747+0.048%$24.6M$103.8M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,744.8−0.033%—$30.7M500xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,746.4+0.027%$58.7M$4.28B50xas long as short
HTX ETH-USDT+0.0097%8h2,744.8−0.030%$1.06B$1.18B200xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,750.2+0.166%$16.0M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,745.5−0.005%$468K$3.0M50xas long as short
Nado ETH-PERP+0.0100%1h2,745.5−0.004%$13.9M$105.4M50xas long as short
Hyperliquid ETH+0.0100%1h2,747.9+0.082%$3.12B$2.06B25xas long as short
Pacifica ETH+0.0100%1h2,745.8+0.005%$31.6M$335.1M50xas long as short
Bybit ETHUSDT+0.0100%8h2,745.6−0.002%$2.46B$4.17B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,744.9−0.027%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,746.1+0.015%$2.7M$16.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,741.5−0.150%$164.1M$300.8M25xas long as short
Gate ETH_USDT+0.0100%8h2,745.5−0.005%$3.39B$8.72B200xas long as short
Bitget ETHUSDT+0.0100%8h2,745.6−0.001%$2.08B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,744.4−0.046%$15.0M$40.9M50xas long as short
Variational Omni ETH+0.0100%8h2,740.7−0.181%$132.6M$333.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,740.6−0.186%$182.1M$690.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,742.9−0.099%$159.5M$83.9M50xas long as short
StandX ETH-USD+0.0100%1h2,744.8−0.031%$21.2M$68.0M40xas long as short
Vest ETH-PERP+0.0100%1h2,746.2+0.022%—$819K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,746.6+0.035%$11.0M$8.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,744.8−0.031%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,746.5+0.032%$41.5M$29.6M15xas long as short
SunX ETH-USDT+0.0100%8h2,744.4−0.044%$962K$11.5M100xas long as short
SoDEX ETH-USD+0.0100%1h2,745.1−0.020%$54.7M$187.5M40xas long as short
Phemex ETHUSDT+0.0100%8h2,745−0.024%$267.0M$65.1M150xas long as short
Extended ETH-USD+0.0104%1h2,744.6−0.038%$30.6M$72.4M50xas long as short
Aftermath Perps ETHUSD+0.0132%1h2,742.9−0.100%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0159%8h2,745.2−0.016%$7.6M$669.2M4.9xas long as short
Deribit ETH-PERPETUAL+0.0165%1h2,746.4+0.025%$258.8M$196.0M50xas long as short
Orderly PERP_ETH_USDC+0.0190%8h2,747.1+0.054%$32.3M$11.3M100xas long as short
Kraken Futures PF_ETHUSDshort+0.0221%1h2,746+0.012%$87.0M$310.2M100x
Reya ETHRUSDPERP+0.0227%1h2,745.1−0.019%$7.3M$1.1M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,746.2+0.019%$252K$1.4M20xas long as short
BloFin ETH-USDT+0.0292%8h2,745.4−0.009%$285.2M$182.1M150xas long as short