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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 00:00 UTC+0.0009%/8h= +0.9% APRnext payment +$0.09 per $10,000 · paid last 24h +0.006%
Price spread now: Phemex against OKX−0.030%7-day average +0.006% · you buy dearer than you sell
Net, funding: paid 7d − costs−$23as in the Funding arb table
Net, price: spread back to 7d avg − costs−$26as in the Price arb table
costs, in and out, $10k−$220.222% of the position
Long on OKXShort on Phemex
What this pair did over the last
the charts below follow
Funding, last 7 days−0.011%−$1 on $10k
Price spread, last 3 days (all we have)−0.024%−$2 · spread now −0.030%, 7d avg +0.006%
Together, before fees−0.035%−$3 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 0.036% cheaper against OKX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.006%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOKX ETH-USDT-SWAP2,767.60.0021pay 0.0021% / 8h2h 34m$1.71B$11.85B100x
ShortPhemex ETHUSDT2,766.80.0030get 0.0030% / 8h2h 34m$266.3M$66.0M150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex 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
$1.8
Price spread: −0.030% → +0.006%
−$3.56
Slippage, 4 orders
−$0.22
Fee OKX: 5 bp × 2 orders
−$10
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$23.99
Costs to cover
0.222%
Break-even
100.4 days
Slippage from OKX: live order book, 5 min ago; Phemex: live order book, 5 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 OKX live order book, 5 min ago0.02 bp5.0 bp −$55.0 bp −$505.8 bp −$5757.7 bp −$3,851
Sell Phemex live order book, 5 min ago0.02 bp6.0 bp −$67.0 bp −$709.5 bp −$94914.3 bp −$7,160

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−0.0112%43m2,765.3−0.084%$288K$6.8M8.3xas long as short
Injective ETH/USDC PERP−0.0107%1h2,766.1−0.056%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,767.9+0.009%$5K$2K50xas long as short
01 Exchange ETHUSD−0.0064%1h2,767−0.023%$171K$1.2M50xas long as short
ApeX Omni ETHUSDT−0.0052%1h2,767.5−0.004%$8.8M$32.5M100xas long as short
Phoenix ETH−0.0023%1h2,767.2−0.016%$795K$3.7M25xas long as short
RISEx ETH/USDC−0.0011%1h2,767.4−0.008%$5.8M$11.8M25xas long as short
dYdX ETH-USD0.0000%1h2,768.8+0.043%$12.7M$45.5M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,765.9−0.063%$22.3M—200xas long as short
BingX ETH-USDT+0.0016%8h2,767.2−0.015%—$1.18B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAPlong+0.0021%8h2,767.6long leg$1.71B$11.85B100x
Aftermath Perps ETHUSD+0.0025%1h2,767.2−0.016%$29K$21K20xas long as short
GMX ETH/USD [ETH-USDC]L +0.0028% / S +0.0009%1h2,765.9−0.063%$13.1M—200xas long as short
Phemex ETHUSDTshort+0.0030%8h2,766.8−0.030%$266.3M$66.0M150x
Aster ETHUSDT+0.0037%8h2,767.60.000%$255.9M$995.1M200xas long as short
Deribit ETH-PERPETUAL+0.0039%1h2,767.1−0.018%$258.4M$224.5M50xas long as short
MEXC ETH_USDT+0.0046%8h2,768+0.013%$1.62B$2.65B500xas long as short
Binance ETHUSDT+0.0046%8h2,768+0.014%$6.42B$17.20B150xas long as short
Aevo ETH-PERP+0.0048%1h2,763.5−0.150%$5.0M$636K20xas long as short
Gate ETH_USDT+0.0065%8h2,768+0.011%$3.28B$9.61B200xas long as short
Bitget ETHUSDT+0.0073%8h2,767.7+0.003%$2.09B$3.13B150xas long as short
Bullet ETH-USD+0.0084%1h2,765.1−0.093%$184K$1.8M20xas long as short
Variational Omni ETH+0.0092%8h2,764−0.130%$140.6M$319.6M—as long as short
Lighter ETH+0.0096%1h2,768.3+0.022%$115.3M$511.5M50xas long as short
Lighter RH ETH+0.0096%1h2,769.9+0.080%$25.3M$122.2M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,765.8−0.068%—$41.7M500xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,767.9+0.011%$15.9M$10.9M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,766.8−0.030%$480K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,764.6−0.109%$14.7M$116.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,769.9+0.082%$3.19B$2.38B25xas long as short
Pacifica ETH+0.0100%1h2,768.5+0.031%$31.2M$285.6M50xas long as short
Bybit ETHUSDT+0.0100%8h2,767.8+0.005%$2.50B$4.64B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,767.7+0.002%$2.9M$16.5M25xas long as short
Arcus ETH-USD+0.0100%1h2,769.4+0.064%$2.8M$17.5M25xas long as short
Bulk ETH-USD+0.0100%1h2,765.5−0.076%$164.9M$254.7M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,767.5−0.004%$424.3M$741.1M100xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,768.1+0.017%$15.3M$42.4M50xas long as short
edgeX ETHUSDC+0.0100%4h2,763.9−0.135%$177.7M$791.0M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,767.6−0.001%$160.9M$97.1M50xas long as short
StandX ETH-USD+0.0100%1h2,765.2−0.088%$21.4M$57.7M40xas long as short
Vest ETH-PERP+0.0100%1h2,765.9−0.062%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,766.8−0.030%$10.8M$7.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,766−0.058%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,768+0.014%$42.6M$29.2M15xas long as short
SunX ETH-USDT+0.0100%8h2,764.2−0.123%$970K$14.3M100xas long as short
SoDEX ETH-USD+0.0100%1h2,765.2−0.088%$55.1M$228.6M40xas long as short
HTX ETH-USDT+0.0100%8h2,766.3−0.048%$1.08B$1.32B200xas long as short
Extended ETH-USD+0.0104%1h2,767.3−0.013%$31.4M$76.1M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,767.3−0.012%$60.1M$4.62B50xas long as short
Kalshi KXETHPERP+0.0120%8h2,766.1−0.056%$8.6M$671.9M4.9xas long as short
Orderly PERP_ETH_USDC+0.0131%8h2,768.2+0.018%$32.5M$11.9M100xas long as short
BloFin ETH-USDT+0.0166%8h2,766.1−0.055%$285.7M$194.8M150xas long as short
Reya ETHRUSDPERP+0.0185%1h2,764.2−0.123%$7.5M$998K25xas long as short
Kraken Futures PF_ETHUSD+0.0241%1h2,767−0.022%$87.9M$329.6M100xas long as short
Hibachi ETH/USDT-P+0.0416%1h2,766.2−0.052%$280K$1.5M20xas long as short