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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 08:00 UTC+0.0006%/8h= +0.7% APRnext payment +$0.06 per $10,000 · paid last 24h −0.009%
Price spread now: Phemex against MEXC+0.045%7-day average +0.001% · you sell dearer than you buy
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$10as in the Price arb table
costs, in and out, $10k−$140.141% of the position
Long on MEXCShort on Phemex
What this pair did over the last
the charts below follow
Funding, last 7 days−0.009%−$1 on $10k
Price spread, last 4 days (all we have)−0.059%−$6 · spread now +0.045%, 7d avg +0.001%
Together, before fees−0.067%−$7 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.044% dearer against MEXC than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.001%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongMEXC ETH_USDT2,729.70.0094pay 0.0094% / 8h42m 58s$1.56B$2.56B500x
ShortPhemex ETHUSDT2,730.90.0100get 0.0100% / 8h42m 58s$263.2M$64.5M150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex against MEXC. 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
$1.26
Price spread: +0.045% → +0.001%
$4.44
Slippage, 4 orders
−$0.15
Fee MEXC: 1 bp × 2 orders
−$2
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$8.45
Costs to cover
0.141%
Break-even
54.0 days
Slippage from MEXC: live order book, 1 min ago; Phemex: live order book, 6 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 MEXC live order book, 1 min ago0.02 bp1.0 bp −$11.0 bp −$101.3 bp −$1303.5 bp −$1,739
Sell Phemex live order book, 6 min ago0.02 bp6.0 bp −$66.8 bp −$689.9 bp −$99014.4 bp −$7,224

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−0.0189%8h2,730+0.011%$281.1M$177.9M150xas long as short
Hotstuff ETH-PERP−0.0080%1h2,732.1+0.088%$5K$1K50xas long as short
Phoenix ETH−0.0015%1h2,733.5+0.139%$811K$3.0M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,730.9+0.045%$11.9M—200xas long as short
dYdX ETH-USD0.0000%1h2,731.3+0.059%$10.5M$42.6M50xas long as short
Kalshi KXETHPERP0.0000%8h2,731.3+0.058%$6.3M$680.6M4.9xas long as short
Perpl ETH0.0000%43m2,730.3+0.022%$286K$5.7M8.3xas long as short
Deribit ETH-PERPETUAL0.0000%1h2,730.6+0.032%$262.4M$212.0M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,730.7+0.035%$32.9M—200xas long as short
BingX ETH-USDC+0.0019%8h2,729−0.026%—$18.6M—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit ETHUSDT+0.0024%8h2,729.3−0.016%$2.33B$4.36B150xas long as short
HTX ETH-USDT+0.0029%8h2,729.5−0.008%$1.05B$1.22B200xas long as short
01 Exchange ETHUSD+0.0032%1h2,731.7+0.073%$191K$889K50xas long as short
Injective ETH/USDC PERP+0.0050%1h2,732.3+0.095%$117K$20.2M52xas long as short
ApeX Omni ETHUSDT+0.0057%1h2,731.2+0.056%$8.6M$31.6M100xas long as short
Kraken Futures PF_ETHUSD+0.0060%1h2,730.2+0.018%$82.0M$309.3M100xas long as short
KuCoin ETHUSDTM+0.0072%8h2,729.9+0.007%$384.8M$576.9M100xas long as short
Hibachi ETH/USDT-P+0.0072%1h2,733.1+0.123%$242K$1.4M20xas long as short
OKX ETH-USDT-SWAP+0.0075%8h2,729.3−0.014%$1.65B$10.84B100xas long as short
Aster ETHUSDT+0.0082%8h2,729.8+0.002%$252.8M$849.3M200xas long as short
MEXC ETH_USDTlong+0.0094%8h2,729.7long leg$1.56B$2.56B500x
Binance ETHUSDT+0.0094%8h2,729.6−0.003%$6.31B$16.15B150xas long as short
Lighter ETH+0.0096%1h2,730.5+0.030%$112.6M$429.4M50xas long as short
Lighter RH ETH+0.0096%1h2,731.6+0.070%$23.5M$102.0M50xas long as short
Aevo ETH-PERP+0.0096%1h2,727.4−0.086%$4.9M$181K20xas long as short
Katana Perps ETH-USD+0.0100%8h2,730.5+0.029%$499K$3.5M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,735.2+0.200%$15.4M$7.8M50xas long as short
Nado ETH-PERP+0.0100%1h2,730.7+0.035%$14.0M$104.9M50xas long as short
Hyperliquid ETH+0.0100%1h2,732.4+0.099%$3.11B$2.04B25xas long as short
Pacifica ETH+0.0100%1h2,732+0.085%$32.1M$333.6M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,730.1+0.014%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,731.8+0.075%$1.5M$15.9M25xas long as short
Bulk ETH-USD+0.0100%1h2,729.5−0.007%$162.7M$356.9M25xas long as short
Gate ETH_USDT+0.0100%8h2,729.9+0.008%$3.31B$8.86B200xas long as short
Bitget ETHUSDT+0.0100%8h2,729.7−0.001%$2.10B$2.77B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,729.7+0.001%$15.0M$41.2M50xas long as short
Variational Omni ETH+0.0100%8h2,731.6+0.070%$134.1M$318.3M—as long as short
edgeX ETHUSDC+0.0100%4h2,731.7+0.074%$185.7M$684.0M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,732+0.084%$158.8M$83.6M50xas long as short
StandX ETH-USD+0.0100%1h2,732.2+0.091%$21.0M$70.6M40xas long as short
Vest ETH-PERP+0.0100%1h2,732.7+0.110%—$445K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,732.1+0.088%$11.2M$9.4M50xas long as short
Bullet ETH-USD+0.0100%1h2,730.6+0.031%$184K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,730.6+0.034%$22K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,731.6+0.071%$40.9M$30.1M15xas long as short
SunX ETH-USDT+0.0100%8h2,730.3+0.023%$958K$10.9M100xas long as short
SoDEX ETH-USD+0.0100%1h2,729.70.000%$54.4M$187.1M40xas long as short
Phemex ETHUSDTshort+0.0100%8h2,730.9+0.045%$263.2M$64.5M150x
Aftermath Perps ETHUSD+0.0103%1h2,731.8+0.075%$30K$20K20xas long as short
Extended ETH-USD+0.0104%1h2,729.2−0.020%$30.4M$72.5M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0056%1h2,731.4+0.062%—$30.4M500xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,731+0.047%$46.5M$4.30B50xas long as short
RISEx ETH/USDC+0.0114%1h2,731.4+0.061%$5.6M$11.7M25xas long as short
Reya ETHRUSDPERP+0.0183%1h2,730+0.012%$7.3M$975K25xas long as short
Orderly PERP_ETH_USDC+0.0184%8h2,732.3+0.095%$32.2M$11.3M100xas long as short