Funding you earn now, next payment 22:00 UTC−0.0020%/8h= −2.2% APRnext payment −$0.02 per $10,000 · paid last 24h −0.008%
Price spread now: Bullet against Ondo Perps−0.058%7-day average +0.043% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.046%−$5 on $10k
+Price spread, last 7 days+0.435%+$44 · spread now −0.058%, 7d avg +0.043%
=Together, before fees+0.389%+ Points / potential airdropOndo Perps: Active · farm board+$39 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bullet is 0.101% cheaper against Ondo Perps than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.043%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps ETH-USD.P | 2,771.1 | 0.0100 | pay 0.0013% / 1h | 50m 24s | $2.9M | $16.6M | 25x |
| Short | Bullet ETH-USD | 2,769.5 | 0.0080 | get 0.0010% / 1h | 50m 24s | $187K | $1.8M | 20x |
Ondo Perps ETH-USD.P
Bullet ETH-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bullet against Ondo Perps. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$4.14
- Price spread: −0.058% → +0.043%
- −$10.05
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Bullet: 4 bp × 2 orders
- −$8
- Net
- −$27.19
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage unknown: Ondo Perps: no order-book sample; Bullet: live order book, 4 min ago. Net counts fees only.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Ondo Perps no order-book sample | — | — | — | — | — |
| Sell Bullet live order book, 4 min ago | 0.18 bp | 5.0 bp −$5 | 8.8 bp −$88 | doesn't fit | doesn't fit |
Ondo Perps: 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.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Perpl ETH | −0.0447% | 43m | 2,771.1 | +0.001% | $289K | $6.9M | 8.3x | as long as short |
| ApeX Omni ETHUSDT | −0.0176% | 1h | 2,772.5 | +0.050% | $10.5M | $31.0M | 100x | as long as short |
| Injective ETH/USDC PERP | −0.0107% | 1h | 2,774.7 | +0.130% | $119K | $22.5M | 52x | as long as short |
| Hotstuff ETH-PERP | −0.0080% | 1h | 2,770.4 | −0.025% | $5K | $2K | 50x | as long as short |
| 01 Exchange ETHUSD | −0.0072% | 1h | 2,771.1 | 0.000% | $172K | $1.2M | 50x | as long as short |
| Phoenix ETH | −0.0023% | 1h | 2,776.7 | +0.202% | $797K | $3.7M | 25x | as long as short |
| RISEx ETH/USDC | −0.0011% | 1h | 2,771.2 | +0.003% | $5.8M | $12.0M | 25x | as long as short |
| dYdX ETH-USD | 0.0000% | 1h | 2,771.5 | +0.013% | $12.9M | $45.3M | 50x | as long as short |
| gTrade (Gains Network) ETH/USD | L +0.0006% / S −0.0006% | 1h | 2,770.6 | −0.017% | $22.4M | — | 200x | as long as short |
| OKX ETH-USDT-SWAP | +0.0022% | 8h | 2,769.2 | −0.068% | $1.70B | $11.90B | 100x | as long as short |
Perpl ETH
ApeX Omni ETHUSDT
Injective ETH/USDC PERP
Hotstuff ETH-PERP
01 Exchange ETHUSD
Phoenix ETH
RISEx ETH/USDC
dYdX ETH-USD
gTrade (Gains Network) ETH/USD
OKX ETH-USDT-SWAPShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex ETHUSDT | +0.0024% | 8h | 2,770.1 | −0.037% | $266.5M | $66.0M | 150x | as long as short |
| GMX ETH/USD [ETH-USDC] | L +0.0027% / S +0.0009% | 1h | 2,770.5 | −0.023% | $13.0M | — | 200x | as long as short |
| Aftermath Perps ETHUSD | +0.0039% | 1h | 2,774.9 | +0.137% | $29K | $22K | 20x | as long as short |
| Aevo ETH-PERP | +0.0040% | 1h | 2,768.4 | −0.097% | $5.0M | $636K | 20x | as long as short |
| MEXC ETH_USDT | +0.0043% | 8h | 2,770.3 | −0.028% | $1.59B | $2.63B | 500x | as long as short |
| Aster ETHUSDT | +0.0043% | 8h | 2,770.3 | −0.029% | $255.8M | $999.1M | 200x | as long as short |
| Binance ETHUSDT | +0.0043% | 8h | 2,769.7 | −0.051% | $6.44B | $17.26B | 150x | as long as short |
| Gate ETH_USDT | +0.0056% | 8h | 2,769.6 | −0.056% | $3.29B | $9.54B | 200x | as long as short |
| SoDEX ETH-USD | +0.0070% | 1h | 2,769.1 | −0.072% | $55.1M | $228.6M | 40x | as long as short |
| Bitget ETHUSDT | +0.0073% | 8h | 2,770.2 | −0.031% | $2.09B | $3.14B | 150x | as long as short |
| Bullet ETH-USDshort | +0.0080% | 1h | 2,769.5 | −0.058% | $187K | $1.8M | 20x | |
| Variational Omni ETH | +0.0091% | 8h | 2,769.8 | −0.046% | $141.1M | $319.9M | — | as long as short |
| Lighter ETH | +0.0096% | 1h | 2,771.3 | +0.008% | $115.2M | $508.1M | 50x | as long as short |
| Lighter RH ETH | +0.0096% | 1h | 2,772.2 | +0.041% | $25.3M | $121.8M | 50x | as long as short |
| Jupiter Perps ETH-PERP | L +0.0096% / S +0.0048% | 1h | 2,771.9 | +0.027% | — | $42.6M | 500x | as long as short |
| Paradex ETH-USD-PERP | +0.0100% | 8h | 2,772.1 | +0.037% | $15.9M | $11.0M | 50x | as long as short |
| Katana Perps ETH-USD | +0.0100% | 8h | 2,771.2 | +0.004% | $490K | $2.7M | 50x | as long as short |
| Nado ETH-PERP | +0.0100% | 1h | 2,770.9 | −0.008% | $16.1M | $115.2M | 50x | as long as short |
| Hyperliquid ETH | +0.0100% | 1h | 2,773.7 | +0.094% | $3.20B | $2.38B | 25x | as long as short |
| Pacifica ETH | +0.0100% | 1h | 2,771.4 | +0.012% | $31.2M | $281.2M | 50x | as long as short |
| Bybit ETHUSDT | +0.0100% | 8h | 2,769.4 | −0.061% | $2.51B | $4.65B | 150x | as long as short |
| Ondo Perps ETH-USD.Plong | +0.0100% | 1h | 2,771.1 | long leg | $2.9M | $16.6M | 25x | |
| Arcus ETH-USD | +0.0100% | 1h | 2,773.2 | +0.074% | $2.8M | $17.7M | 25x | as long as short |
| Bulk ETH-USD | +0.0100% | 1h | 2,770.8 | −0.010% | $164.5M | $255.4M | 25x | as long as short |
| KuCoin ETHUSDTM | +0.0100% | 8h | 2,770.7 | −0.014% | $426.3M | $745.3M | 100x | as long as short |
| BingX ETH-USDC | +0.0100% | 8h | 2,770.1 | −0.035% | — | $17.3M | — | as long as short |
| Backpack ETH_USDC_PERP | +0.0100% | 1h | 2,770.9 | −0.009% | $15.4M | $42.5M | 50x | as long as short |
| edgeX ETHUSDC | +0.0100% | 4h | 2,772.9 | +0.066% | $178.4M | $789.3M | 100x | as long as short |
| GRVT ETH_USDT_Perp | +0.0100% | 8h | 2,777 | +0.214% | $161.5M | $98.2M | 50x | as long as short |
| StandX ETH-USD | +0.0100% | 1h | 2,771.2 | +0.004% | $21.4M | $57.5M | 40x | as long as short |
| Vest ETH-PERP | +0.0100% | 1h | 2,771.3 | +0.007% | — | $1.1M | 50x | as long as short |
| Polymarket Perps ETH-USD | +0.0100% | 1h | 2,772.5 | +0.051% | $10.8M | $7.8M | 50x | as long as short |
| Bluefin ETH-PERP | +0.0100% | 1h | 2,770.8 | −0.012% | $21K | $25K | 25x | as long as short |
| Derive ETH-PERP | +0.0100% | 1h | 2,772.1 | +0.037% | $42.8M | $29.9M | 15x | as long as short |
| SunX ETH-USDT | +0.0100% | 8h | 2,769.6 | −0.054% | $972K | $14.3M | 100x | as long as short |
| HTX ETH-USDT | +0.0100% | 8h | 2,768.9 | −0.079% | $1.08B | $1.32B | 200x | as long as short |
| Extended ETH-USD | +0.0104% | 1h | 2,770.6 | −0.018% | $31.6M | $76.3M | 50x | as long as short |
| Coinbase International ETH-PERP-INTX | +0.0104% | 1h | 2,771.4 | +0.009% | $60.2M | $4.65B | 50x | as long as short |
| Kalshi KXETHPERP | +0.0113% | 8h | 2,770.9 | −0.007% | $8.6M | $671.4M | 4.9x | as long as short |
| Orderly PERP_ETH_USDC | +0.0128% | 8h | 2,772.6 | +0.054% | $32.5M | $11.8M | 100x | as long as short |
| Deribit ETH-PERPETUAL | +0.0151% | 1h | 2,771.3 | +0.008% | $258.9M | $223.4M | 50x | as long as short |
| BloFin ETH-USDT | +0.0163% | 8h | 2,769 | −0.076% | $286.4M | $197.5M | 150x | as long as short |
| Reya ETHRUSDPERP | +0.0192% | 1h | 2,769.4 | −0.062% | $7.5M | $992K | 25x | as long as short |
| Kraken Futures PF_ETHUSD | +0.0240% | 1h | 2,770.9 | −0.008% | $88.5M | $331.2M | 100x | as long as short |
| Hibachi ETH/USDT-P | +0.0376% | 1h | 2,771.8 | +0.023% | $273K | $1.5M | 20x | as long as short |
Phemex ETHUSDT
GMX ETH/USD [ETH-USDC]
Aftermath Perps ETHUSD
Aevo ETH-PERP
MEXC ETH_USDT
Aster ETHUSDT
Binance ETHUSDT
Gate ETH_USDT
SoDEX ETH-USD
Bitget ETHUSDT
Variational Omni ETH
Lighter ETH
Lighter RH ETH
Jupiter Perps ETH-PERP
Paradex ETH-USD-PERP
Katana Perps ETH-USD
Nado ETH-PERP
Hyperliquid ETH
Pacifica ETH
Bybit ETHUSDT
Arcus ETH-USD
Bulk ETH-USD
KuCoin ETHUSDTM
BingX ETH-USDC
Backpack ETH_USDC_PERP
edgeX ETHUSDC
GRVT ETH_USDT_Perp
StandX ETH-USD
Vest ETH-PERP
Polymarket Perps ETH-USD
Bluefin ETH-PERP
Derive ETH-PERP
SunX ETH-USDT
HTX ETH-USDT
Extended ETH-USD
Coinbase International ETH-PERP-INTX
Kalshi KXETHPERP
Orderly PERP_ETH_USDC
Deribit ETH-PERPETUAL
BloFin ETH-USDT
Reya ETHRUSDPERP
Kraken Futures PF_ETHUSD
Hibachi ETH/USDT-P