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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Funding you earn now, next payment 08:00 UTC+0.0125%/8h= +13.7% APRnext payment +$1.25 per $10,000 · paid last 24h +0.047%
Price spread now: Orderly against OKX+0.109%7-day average +0.091% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on OKXShort on Orderly
What this pair did over the last
the charts below follow
Funding, last 7 days+0.280%+$28 on $10k
Price spread, last 4 days (all we have)−0.152%−$15 · spread now +0.109%, 7d avg +0.091%
Together, before fees+0.128%+$13 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.091%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOKX ETH-USDT-SWAP2,7380.0070pay 0.0070% / 8h4h 52m$1.68B$10.59B100x
ShortOrderly PERP_ETH_USDC2,7410.0195get 0.0195% / 8h4h 52m$32.2M$11.5M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Orderly against OKX. 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
$26.21
Price spread: +0.109% → +0.091%
$1.79
Slippage, 4 orders
no order book: not counted
Fee OKX: 5 bp × 2 orders
−$10
Fee Orderly: 3 bp × 2 orders
−$6
Net
$12
Costs to cover
0.160%
Break-even
3.8 days
Slippage unknown: OKX: live order book, 1 min ago; Orderly: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy OKX live order book, 1 min ago0.02 bp5.0 bp −$55.0 bp −$505.1 bp −$5147.9 bp −$3,934
Sell Orderly no order-book sample—————
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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−0.0447%43m2,738.4+0.014%$300K$5.5M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,740.3+0.083%$118K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,739.1+0.039%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,739+0.034%$12.0M—200xas long as short
dYdX ETH-USD0.0000%1h2,739.5+0.052%$10.8M$41.7M50xas long as short
01 Exchange ETHUSD0.0000%1h2,739+0.035%$182K$834K50xas long as short
Phoenix ETH0.0000%1h2,741.2+0.115%$832K$2.9M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,739.2+0.042%$25.4M—200xas long as short
BingX ETH-USDC+0.0055%8h2,737.9−0.007%—$18.4M—as long as short
Bullet ETH-USD+0.0059%1h2,738.3+0.010%$180K$1.7M20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX ETH-USD+0.0062%1h2,738.5+0.017%$54.5M$187.6M40xas long as short
OKX ETH-USDT-SWAPlong+0.0070%8h2,738long leg$1.68B$10.59B100x
KuCoin ETHUSDTM+0.0073%8h2,738.3+0.008%$380.6M$573.4M100xas long as short
Aster ETHUSDT+0.0084%8h2,738.4+0.013%$253.2M$840.4M200xas long as short
Aevo ETH-PERP+0.0088%1h2,736.3−0.064%$4.9M$154K20xas long as short
MEXC ETH_USDT+0.0091%8h2,737.6−0.016%$1.56B$2.52B500xas long as short
Binance ETHUSDT+0.0091%8h2,737.6−0.016%$6.36B$15.70B150xas long as short
Lighter ETH+0.0096%1h2,738.7+0.025%$112.5M$431.3M50xas long as short
Lighter RH ETH+0.0096%1h2,740.3+0.081%$24.5M$102.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,739.3+0.045%—$30.5M500xas long as short
RISEx ETH/USDC+0.0099%1h2,739.1+0.037%$5.6M$11.4M25xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,742.4+0.159%$15.8M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,737.9−0.005%$499K$3.2M50xas long as short
Nado ETH-PERP+0.0100%1h2,738.5+0.018%$13.9M$104.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,740.5+0.090%$3.11B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,739+0.035%$31.7M$335.1M50xas long as short
Bybit ETHUSDT+0.0100%8h2,737.8−0.010%$2.43B$4.18B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,738.7+0.024%$2.7M$16.9M25xas long as short
Arcus ETH-USD+0.0100%1h2,738.9+0.031%$2.8M$16.0M25xas long as short
Bulk ETH-USD+0.0100%1h2,740.8+0.099%$166.9M$306.7M25xas long as short
Gate ETH_USDT+0.0100%8h2,738.6+0.019%$3.39B$8.68B200xas long as short
Bitget ETHUSDT+0.0100%8h2,738.2+0.004%$2.08B$2.72B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,738.5+0.015%$15.0M$39.6M50xas long as short
Variational Omni ETH+0.0100%8h2,741+0.106%$133.2M$324.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,739.9+0.066%$182.1M$665.1M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,737.4−0.025%$159.2M$83.8M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,734.9−0.113%$8.7M$30.7M100xas long as short
StandX ETH-USD+0.0100%1h2,740.7+0.097%$21.2M$69.6M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,740+0.072%$11.0M$8.8M50xas long as short
Derive ETH-PERP+0.0100%1h2,740.5+0.090%$41.4M$29.7M15xas long as short
SunX ETH-USDT+0.0100%8h2,737.8−0.008%$961K$11.4M100xas long as short
HTX ETH-USDT+0.0100%8h2,738.4+0.013%$1.06B$1.18B200xas long as short
Phemex ETHUSDT+0.0100%8h2,738.4+0.015%$266.1M$65.1M150xas long as short
Vest ETH-PERP+0.0100%1h2,739.5+0.054%—$843K50xas long as short
Extended ETH-USD+0.0104%1h2,737.6−0.015%$30.6M$72.3M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,740.3+0.084%$51.1M$4.26B50xas long as short
Aftermath Perps ETHUSD+0.0126%1h2,740.1+0.076%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0157%8h2,739.2+0.042%$7.7M$672.7M4.9xas long as short
Orderly PERP_ETH_USDCshort+0.0195%8h2,741+0.109%$32.2M$11.5M100x
Deribit ETH-PERPETUAL+0.0195%1h2,740.3+0.083%$260.0M$194.8M50xas long as short
BloFin ETH-USDT+0.0211%8h2,738.4+0.013%$285.5M$172.8M150xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,739.4+0.051%$86.0M$309.6M100xas long as short
Reya ETHRUSDPERP+0.0224%1h2,738.2+0.005%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,740.3+0.084%$252K$1.4M20xas long as short
Bluefin ETH-PERP+0.1989%1h2,739.3+0.047%$21K$20K25xas long as short