ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0012%/8h= −1.3% APRnext payment −$0.02 per $10,000 · paid last 24h −0.003%

Price spread now: Coinbase International against Ondo Perps+0.026%7-day average +0.051% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 3 days (all we have)+0.034%+$3 · spread now +0.026%, 7d avg +0.051%

Together, before fees+0.036%+ Points / potential airdropOndo Perps: Active · farm board+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Coinbase International is 0.026% cheaper against Ondo Perps than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.051%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps ETH-USD.P	2,774.3	0.0100	pay 0.0013% / 1h	31m 55s	$2.8M	$17.2M	25x
Short	Coinbase International ETH-PERP-INTX	2,775	0.0088	get 0.0011% / 1h	31m 55s	$60.0M	$4.60B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Ondo Perps. 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

Position, each leg$Hold fordaysFee Ondo PerpsbpFee Coinbase InternationalbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$2.52
Price spread: +0.026% → +0.051%: −$2.59
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$20.11
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Coinbase International: live order book, 2 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 Coinbase International live order book, 2 min ago	0.02 bp	5.0 bp −$5	5.0 bp −$50	6.6 bp −$658	18.8 bp −$9,422

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	2,774.3	−0.002%	$286K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0206%	1h	2,774.9	+0.021%	$5.6M	$11.9M	25x	as long as short
Injective ETH/USDC PERP	−0.0088%	1h	2,781.9	+0.274%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,774.5	+0.007%	$5K	$2K	50x	as long as short
ApeX Omni ETHUSDT	−0.0049%	1h	2,775.4	+0.039%	$8.9M	$32.8M	100x	as long as short
01 Exchange ETHUSD	−0.0008%	1h	2,775.2	+0.032%	$168K	$1.2M	50x	as long as short
dYdX ETH-USD	0.0000%	1h	2,774.6	+0.013%	$12.7M	$45.9M	50x	as long as short
Phoenix ETH	+0.0003%	1h	2,778.6	+0.155%	$879K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,775.3	+0.037%	$22.4M	—	200x	as long as short
Aftermath Perps ETHUSD	+0.0011%	1h	2,777.2	+0.103%	$29K	$22K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDT	+0.0016%	8h	2,773.6	−0.025%	—	$1.21B	—	as long as short
OKX ETH-USDT-SWAP	+0.0020%	8h	2,773.7	−0.023%	$1.70B	$11.87B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0026% / S +0.0009%	1h	2,775.2	+0.033%	$12.9M	—	200x	as long as short
Phemex ETHUSDT	+0.0031%	8h	2,774.5	+0.007%	$270.5M	$69.0M	150x	as long as short
Aster ETHUSDT	+0.0034%	8h	2,773.5	−0.029%	$256.4M	$1.00B	200x	as long as short
Bullet ETH-USD	+0.0048%	1h	2,774.4	+0.005%	$182K	$1.7M	20x	as long as short
SoDEX ETH-USD	+0.0048%	1h	2,773.5	−0.029%	$55.2M	$229.1M	40x	as long as short
MEXC ETH_USDT	+0.0061%	8h	2,773.5	−0.028%	$1.60B	$2.64B	500x	as long as short
Binance ETHUSDT	+0.0062%	8h	2,773.5	−0.028%	$6.45B	$17.28B	150x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,771.4	−0.104%	$5.0M	$636K	20x	as long as short
Bitget ETHUSDT	+0.0067%	8h	2,773.7	−0.022%	$2.10B	$3.10B	150x	as long as short
Gate ETH_USDT	+0.0072%	8h	2,773.8	−0.020%	$3.29B	$9.64B	200x	as long as short
Deribit ETH-PERPETUAL	+0.0078%	1h	2,775.3	+0.036%	$259.0M	$222.2M	50x	as long as short
KuCoin ETHUSDTM	+0.0087%	8h	2,773.7	−0.022%	$421.5M	$739.2M	100x	as long as short
Coinbase International ETH-PERP-INTXshort	+0.0088%	1h	2,775	+0.026%	$60.0M	$4.60B	50x
Bybit ETHUSDT	+0.0091%	8h	2,773.7	−0.021%	$2.51B	$4.62B	150x	as long as short
Vest ETH-PERP	+0.0095%	1h	2,775.1	+0.027%	—	$1.1M	50x	as long as short
HTX ETH-USDT	+0.0095%	8h	2,774	−0.011%	$1.08B	$1.32B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,774.4	+0.004%	$116.0M	$497.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,775.8	+0.052%	$25.3M	$121.3M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,774.8	+0.019%	—	$42.0M	500x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,773.8	−0.017%	$15.9M	$10.2M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,774.7	+0.014%	$478K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,774.8	+0.019%	$14.4M	$118.1M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,776.1	+0.065%	$3.19B	$2.35B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,775.1	+0.029%	$31.2M	$310.5M	50x	as long as short
Ondo Perps ETH-USD.Plong	+0.0100%	1h	2,774.3	long leg	$2.8M	$17.2M	25x
Arcus ETH-USD	+0.0100%	1h	2,775.9	+0.059%	$2.8M	$17.2M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,777.9	+0.129%	$167.7M	$256.4M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,774	−0.011%	$15.1M	$44.5M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,775.8	+0.052%	$147.4M	$335.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,776.7	+0.087%	$182.3M	$783.7M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,776.5	+0.079%	$161.4M	$89.5M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,775.4	+0.040%	$21.5M	$58.6M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,775.2	+0.032%	$10.7M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,775.1	+0.029%	$21K	$24K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,776.4	+0.075%	$42.7M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,774.3	−0.001%	$972K	$13.9M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,773.1	−0.042%	$32.7M	$78.0M	50x	as long as short
Kalshi KXETHPERP	+0.0117%	8h	2,775.2	+0.032%	$8.3M	$684.9M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0123%	1h	2,774.7	+0.015%	$86.5M	$333.5M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0140%	8h	2,777	+0.098%	$32.6M	$12.1M	100x	as long as short
BloFin ETH-USDT	+0.0182%	8h	2,774	−0.012%	$286.4M	$194.2M	150x	as long as short
Reya ETHRUSDPERP	+0.0201%	1h	2,774.6	+0.010%	$7.4M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,775.4	+0.039%	$252K	$1.6M	20x	as long as short