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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 16:00 UTC+0.0033%/8h= +3.7% APRnext payment +$0.33 per $10,000 · paid last 24h +0.019%
Price spread now: Variational Omni against OKX−0.175%7-day average +0.008% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on OKXShort on Variational Omni
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.047%+$5 on $10k
Price spread, last 7 days+0.160%+$16 · spread now −0.175%, 7d avg +0.008%
Together, before fees+0.207%+ Points / potential airdropVariational Omni: Active · farm board+$21 on $10k · with fees, hour by hour
Funding pays, the price is against you. Variational Omni is 0.183% cheaper against OKX than usual: you would sell low and buy high (spread −0.175% now, against its 7-day average of +0.008%). If the spread goes back, that is −$18 on $10k: about 18 days of funding at the current rate (+$1 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOKX ETH-USDT-SWAP2,743.30.0067pay 0.0067% / 8h6h 21m$1.67B$9.63B100x
ShortVariational Omni ETH2,738.50.0100get 0.0100% / 8h6h 21m$132.1M$303.2M—

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Variational Omni against OKX. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$7.01
Price spread: −0.175% → +0.008%
−$18.33
Slippage, 4 orders
no order book: not counted
Fee OKX: 5 bp × 2 orders
−$10
Fee Variational Omni: 0 bp × 2 orders
$0
Net
−$21.32
Costs to cover
0.100%
Break-even
28.3 days
Slippage unknown: OKX: live order book, 5 min ago; Variational Omni: RFQ quote, just now. 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, 5 min ago0.02 bp5.0 bp −$55.0 bp −$505.5 bp −$5497.4 bp −$3,712
Sell Variational Omni RFQ quote, just now0.53 bpdoesn't fit0.5 bp −$53.9 bp −$392doesn't fit

ETH on 54 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi ETH/USDT-P−0.0088%1h2,740.5−0.100%$234K$1.3M20xas long as short
Hotstuff ETH-PERP−0.0080%1h2,740−0.119%$5K$1K50xas long as short
ApeX Omni ETHUSDT−0.0069%1h2,740.4−0.106%$8.3M$29.8M100xas long as short
Bybit ETHUSDT−0.0035%8h2,743.3+0.002%$2.36B$3.96B150xas long as short
Phoenix ETH−0.0023%1h2,739.6−0.134%$805K$2.9M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,744.4+0.043%$12.0M—200xas long as short
Kalshi KXETHPERP0.0000%8h2,742.4−0.032%$7.0M$663.8M4.9xas long as short
Perpl ETH0.0000%43m2,743.8+0.021%$271K$5.1M8.3xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,744.4+0.043%$33.1M—200xas long as short
Gate ETH_USDT+0.0044%8h2,743−0.008%$3.26B$7.86B200xas long as short
Show all 54 exchanges
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
01 Exchange ETHUSD+0.0048%1h2,745+0.063%$195K$948K50xas long as short
dYdX ETH-USD+0.0056%1h2,743−0.008%$14.8M$43.1M50xas long as short
OKX ETH-USDT-SWAPlong+0.0067%8h2,743.3long leg$1.67B$9.63B100x
Aster ETHUSDT+0.0072%8h2,743−0.010%$256.3M$746.1M200xas long as short
MEXC ETH_USDT+0.0078%8h2,743.3+0.002%$1.59B$2.51B500xas long as short
Binance ETHUSDT+0.0079%8h2,743.1−0.005%$6.38B$14.68B150xas long as short
Kraken Futures PF_ETHUSD+0.0080%1h2,744.4+0.040%$82.2M$283.1M100xas long as short
Aevo ETH-PERP+0.0080%1h2,741.8−0.054%$4.9M$208K20xas long as short
KuCoin ETHUSDTM+0.0082%8h2,743.2−0.003%$365.6M$459.9M100xas long as short
Aftermath Perps ETHUSD+0.0088%1h2,740.3−0.109%$30K$8K20xas long as short
SoDEX ETH-USD+0.0094%1h2,743.7+0.016%$61.8M$121.8M40xas long as short
Lighter ETH+0.0096%1h2,744.1+0.032%$114.0M$389.2M50xas long as short
Lighter RH ETH+0.0096%1h2,745.3+0.075%$23.7M$98.4M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,741.4−0.067%—$23.9M500xas long as short
Katana Perps ETH-USD+0.0100%8h2,743.7+0.016%$507K$3.5M50xas long as short
Nado ETH-PERP+0.0100%1h2,742.1−0.043%$14.5M$97.8M50xas long as short
Pacifica ETH+0.0100%1h2,743.3+0.001%$32.2M$326.0M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,742.3−0.035%$2.8M$14.4M25xas long as short
Arcus ETH-USD+0.0100%1h2,744+0.026%$1.5M$14.9M25xas long as short
Bulk ETH-USD+0.0100%1h2,740.6−0.097%$163.1M$330.7M25xas long as short
Bitget ETHUSDT+0.0100%8h2,742.8−0.019%$2.11B$2.41B150xas long as short
BingX ETH-USDT+0.0100%8h2,742.8−0.016%—$960.1M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,743.1−0.005%$14.9M$37.3M50xas long as short
Variational Omni ETHshort+0.0100%8h2,738.5−0.175%$132.1M$303.2M—
edgeX ETHUSDC+0.0100%4h2,738.5−0.173%$185.9M$632.6M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,741.5−0.065%$159.4M$75.0M50xas long as short
StandX ETH-USD+0.0100%1h2,739.9−0.123%$21.0M$72.7M40xas long as short
Vest ETH-PERP+0.0100%1h2,745+0.061%—$365K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,746.2+0.107%$11.3M$8.7M50xas long as short
Bullet ETH-USD+0.0100%1h2,744.4+0.043%$177K$1.7M20xas long as short
SunX ETH-USDT+0.0100%8h2,744.6+0.048%$947K$9.3M100xas long as short
HTX ETH-USDT+0.0100%8h2,744+0.027%$1.05B$1.10B200xas long as short
Phemex ETHUSDT+0.0100%8h2,743.9+0.024%$264.0M$57.9M150xas long as short
Extended ETH-USD+0.0104%1h2,741.9−0.051%$30.4M$67.3M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,744.9+0.061%$45.6M$3.95B50xas long as short
BloFin ETH-USDT+0.0108%8h2,740.2−0.110%$282.7M$158.1M150xas long as short
Hyperliquid ETH+0.0114%1h2,746.9+0.132%$3.15B$1.77B25xas long as short
Deribit ETH-PERPETUAL+0.0114%1h2,745+0.064%$267.3M$195.2M50xas long as short
Reya ETHRUSDPERP+0.0161%1h2,743.7+0.017%$7.3M$870K25xas long as short
RISEx ETH/USDC+0.0167%1h2,745.3+0.073%$5.6M$10.8M25xas long as short
Orderly PERP_ETH_USDC+0.0175%8h2,746.4+0.112%$32.4M$10.1M100xas long as short
Paradex ETH-USD-PERP+0.0267%8h2,747.5+0.154%$15.8M$6.5M50xas long as short
Injective ETH/USDC PERP+0.0308%1h2,743.6+0.012%$118K$23.4M52xas long as short
Bluefin ETH-PERP+0.1169%1h2,744.6+0.049%$20K$15K25xas long as short