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Funding arb · Price arb /

ETH

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Alert: spread
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Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h −0.004%
Price spread now: Bulk against Nado+0.055%7-day average −0.008% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$8as in the Price arb table
costs, in and out, $10k−$140.144% of the position
Long on NadoShort on Bulk
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.002%$0 on $10k
Price spread, last 7 days−0.053%−$5 · spread now +0.055%, 7d avg −0.008%
Together, before fees−0.055%+ Points / potential airdropNado: Active · farm board−$5 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: Bulk is 0.063% dearer against Nado than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.008%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongNado ETH-PERP2,771.40.0096pay 0.0012% / 1h10m 29s$14.3M$118.2M50x
ShortBulk ETH-USD2,7730.0100get 0.0013% / 1h10m 29s$170.1M$265.7M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bulk against Nado. 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
$0.82
Price spread: +0.055% → −0.008%
$6.3
Slippage, 4 orders
−$0.4
Fee Nado: 3.5 bp × 2 orders
−$7
Fee Bulk: 3.5 bp × 2 orders
−$7
Net
−$7.28
Costs to cover
0.144%
Break-even
69.3 days
Slippage from Nado: live order book, 4 min ago; Bulk: live order book, 4 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 Nado live order book, 4 min ago0.18 bp3.7 bp −$43.9 bp −$396.2 bp −$62013.6 bp −$6,803
Sell Bulk live order book, 4 min ago0.02 bp3.5 bp −$43.5 bp −$354.1 bp −$4085.5 bp −$2,755

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−0.0223%43m2,770.7−0.028%$286K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0206%1h2,772.2+0.026%$5.6M$11.9M25xas long as short
Injective ETH/USDC PERP−0.0088%1h2,762.1−0.337%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,769.5−0.070%$5K$2K50xas long as short
ApeX Omni ETHUSDT−0.0023%1h2,770.5−0.034%$8.7M$32.9M100xas long as short
01 Exchange ETHUSD−0.0008%1h2,772.2+0.027%$168K$1.2M50xas long as short
dYdX ETH-USD0.0000%1h2,770.9−0.018%$12.7M$45.9M50xas long as short
Phoenix ETH+0.0003%1h2,771.8+0.013%$876K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,771.1−0.014%$22.4M—200xas long as short
OKX ETH-USDT-SWAP+0.0022%8h2,771.4−0.001%$1.71B$11.88B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX ETH/USD [ETH-USDC]L +0.0026% / S +0.0009%1h2,770.9−0.020%$12.8M—200xas long as short
Phemex ETHUSDT+0.0029%8h2,768.5−0.106%$269.9M$68.9M150xas long as short
Aster ETHUSDT+0.0031%8h2,772.1+0.023%$255.8M$1.00B200xas long as short
SoDEX ETH-USD+0.0031%1h2,768.4−0.110%$55.1M$228.9M40xas long as short
Aftermath Perps ETHUSD+0.0032%1h2,771.5+0.002%$29K$22K20xas long as short
Bullet ETH-USD+0.0037%1h2,770.3−0.043%$181K$1.7M20xas long as short
Deribit ETH-PERPETUAL+0.0053%1h2,770.2−0.046%$259.0M$222.1M50xas long as short
MEXC ETH_USDT+0.0056%8h2,770.6−0.032%$1.62B$2.66B500xas long as short
Aevo ETH-PERP+0.0056%1h2,766.9−0.165%$5.0M$636K20xas long as short
Binance ETHUSDT+0.0056%8h2,771.7+0.010%$6.45B$17.29B150xas long as short
Bitget ETHUSDT+0.0065%8h2,771−0.016%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0068%8h2,772+0.020%$3.29B$9.69B200xas long as short
KuCoin ETHUSDTM+0.0081%8h2,772.1+0.023%$420.9M$738.4M100xas long as short
Bybit ETHUSDT+0.0088%8h2,771.8+0.012%$2.51B$4.62B150xas long as short
BingX ETH-USDC+0.0088%8h2,770−0.054%—$17.5M—as long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,769.9−0.058%$60.1M$4.59B50xas long as short
HTX ETH-USDT+0.0094%8h2,768.6−0.102%$1.08B$1.32B200xas long as short
Lighter ETH+0.0096%1h2,771.9+0.015%$115.1M$500.6M50xas long as short
Lighter RH ETH+0.0096%1h2,773.6+0.076%$25.3M$122.0M50xas long as short
Nado ETH-PERPlong+0.0096%1h2,771.4long leg$14.3M$118.2M50x
Vest ETH-PERP+0.0096%1h2,770.9−0.020%—$1.1M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,771.2−0.010%$15.9M$10.1M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,771.4−0.002%$475K$2.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,773+0.056%$3.17B$2.36B25xas long as short
Pacifica ETH+0.0100%1h2,771.8+0.013%$31.2M$315.2M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,769.6−0.067%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,772.8+0.049%$2.7M$17.3M25xas long as short
Bulk ETH-USDshort+0.0100%1h2,773+0.055%$170.1M$265.7M25x
Backpack ETH_USDC_PERP+0.0100%1h2,768.7−0.098%$15.1M$44.2M50xas long as short
Variational Omni ETH+0.0100%8h2,768.4−0.109%$147.1M$335.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,770−0.053%$181.8M$783.7M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,770.4−0.038%$161.1M$89.8M50xas long as short
StandX ETH-USD+0.0100%1h2,770.5−0.034%$21.4M$58.6M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,771.7+0.009%$10.6M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,769.9−0.056%$21K$24K25xas long as short
SunX ETH-USDT+0.0100%8h2,768.1−0.122%$971K$13.9M100xas long as short
Derive ETH-PERP+0.0100%1h2,771.2−0.008%$42.7M$29.4M15xas long as short
Extended ETH-USD+0.0104%1h2,771.5+0.001%$32.5M$78.3M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,771.1−0.012%—$43.7M500xas long as short
Kalshi KXETHPERP+0.0107%8h2,770.1−0.049%$8.2M$687.5M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0123%1h2,770−0.052%$90.3M$338.3M100xas long as short
Orderly PERP_ETH_USDC+0.0143%8h2,771.3−0.005%$32.6M$12.2M100xas long as short
BloFin ETH-USDT+0.0176%8h2,768.4−0.109%$286.2M$194.2M150xas long as short
Reya ETHRUSDPERP+0.0205%1h2,770.2−0.045%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0208%1h2,770.7−0.027%$252K$1.6M20xas long as short