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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 02:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.008%
Price spread now: Derive against Ondo Perps+0.098%7-day average +0.077% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Ondo PerpsShort on Derive
What this pair did over the last
the charts below follow
Funding, last 7 days+0.057%+$6 on $10k
Price spread, last 3 days (all we have)−0.018%−$2 · spread now +0.098%, 7d avg +0.077%
Together, before fees+0.039%+ Points / potential airdropOndo Perps: Active · farm board+$4 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: Derive is 0.021% dearer against Ondo Perps than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.077%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOndo Perps ETH-USD.P2,747.50.0100pay 0.0013% / 1h32m 26s$2.8M$16.7M25x
ShortDerive ETH-PERP2,750.20.0100get 0.0013% / 1h32m 26s$41.8M$29.3M15x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

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

Profit calculator

Funding earned
$0
Price spread: +0.098% → +0.077%
$2.1
Slippage, 4 orders
no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders
−$5
Fee Derive: 3 bp × 2 orders
−$6
Net
−$8.9
Costs to cover
0.110%
Break-even
never at this rate
Slippage unknown: Ondo Perps: no order-book sample; Derive: 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 Ondo Perps no order-book sample—————
Sell Derive no order-book sample—————
Ondo Perps and Derive: 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 54 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%43m2,748.9+0.049%$310K$6.0M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,746.9−0.022%$5K$1K50xas long as short
RISEx ETH/USDC−0.0071%1h2,749.3+0.066%$5.5M$11.2M25xas long as short
ApeX Omni ETHUSDT−0.0042%1h2,744.9−0.094%$8.7M$31.8M100xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,749.5+0.073%$11.9M—200xas long as short
Phoenix ETH−0.0006%1h2,746.4−0.040%$848K$3.1M25xas long as short
dYdX ETH-USD0.0000%1h2,749.4+0.069%$10.8M$41.9M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,749.3+0.066%$22.2M—200xas long as short
01 Exchange ETHUSD+0.0016%1h2,749.4+0.069%$181K$1.1M50xas long as short
BingX ETH-USDT+0.0032%8h2,749.2+0.062%—$1.19B—as long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
HTX ETH-USDT+0.0042%8h2,745.1−0.089%$1.06B$1.22B200xas long as short
OKX ETH-USDT-SWAP+0.0042%8h2,748.9+0.049%$1.69B$11.04B100xas long as short
Aster ETHUSDT+0.0061%8h2,749+0.055%$253.6M$861.5M200xas long as short
MEXC ETH_USDT+0.0071%8h2,749.8+0.082%$1.56B$2.56B500xas long as short
Binance ETHUSDT+0.0072%8h2,749.4+0.069%$6.36B$16.29B150xas long as short
Aevo ETH-PERP+0.0072%1h2,747−0.020%$4.9M$168K20xas long as short
KuCoin ETHUSDTM+0.0073%8h2,749.2+0.062%$381.7M$608.1M100xas long as short
Gate ETH_USDT+0.0088%8h2,749.7+0.079%$3.39B$8.86B200xas long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,749.6+0.075%$59.0M$4.38B50xas long as short
Bitget ETHUSDT+0.0090%8h2,748.6+0.039%$2.07B$2.85B150xas long as short
Lighter ETH+0.0096%1h2,749.4+0.067%$112.9M$442.0M50xas long as short
Lighter RH ETH+0.0096%1h2,749.9+0.087%$24.9M$106.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,748.6+0.039%—$35.4M500xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,753+0.199%$15.9M$8.1M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,748.4+0.033%$468K$2.9M50xas long as short
Nado ETH-PERP+0.0100%1h2,747.9+0.014%$14.0M$113.2M50xas long as short
Hyperliquid ETH+0.0100%1h2,751.6+0.149%$3.13B$2.12B25xas long as short
Pacifica ETH+0.0100%1h2,749.3+0.066%$31.5M$333.7M50xas long as short
Bybit ETHUSDT+0.0100%8h2,749+0.055%$2.46B$4.35B150xas long as short
Ondo Perps ETH-USD.Plong+0.0100%1h2,747.5long leg$2.8M$16.7M25x
Arcus ETH-USD+0.0100%1h2,749.7+0.079%$2.8M$16.7M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,744.6−0.104%$15.0M$41.8M50xas long as short
Variational Omni ETH+0.0100%8h2,744.6−0.107%$133.0M$346.7M—as long as short
edgeX ETHUSDC+0.0100%4h2,744.4−0.114%$181.5M$729.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,745.5−0.073%$159.7M$84.8M50xas long as short
StandX ETH-USD+0.0100%1h2,746.2−0.047%$21.2M$67.6M40xas long as short
Vest ETH-PERP+0.0100%1h2,749.8+0.084%—$869K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,749.2+0.062%$10.3M$8.0M50xas long as short
Bullet ETH-USD+0.0100%1h2,749.3+0.066%$183K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,749.2+0.062%$21K$22K25xas long as short
Derive ETH-PERPshort+0.0100%1h2,750.2+0.098%$41.8M$29.3M15x
SunX ETH-USDT+0.0100%8h2,749+0.055%$964K$12.5M100xas long as short
SoDEX ETH-USD+0.0100%1h2,748.1+0.022%$54.7M$187.6M40xas long as short
Phemex ETHUSDT+0.0100%8h2,744.7−0.100%$266.8M$66.5M150xas long as short
Bulk ETH-USD+0.0100%1h2,743.9−0.130%$165.5M$306.7M25xas long as short
Aftermath Perps ETHUSD+0.0101%1h2,746.4−0.039%$30K$21K20xas long as short
Extended ETH-USD+0.0104%1h2,748+0.018%$30.4M$74.4M50xas long as short
Kalshi KXETHPERP+0.0137%8h2,746.5−0.036%$7.8M$674.0M4.9xas long as short
Deribit ETH-PERPETUAL+0.0143%1h2,749.5+0.072%$258.5M$201.5M50xas long as short
Orderly PERP_ETH_USDC+0.0168%8h2,751.2+0.134%$32.4M$11.1M100xas long as short
Hibachi ETH/USDT-P+0.0192%1h2,746.5−0.036%$250K$1.5M20xas long as short
Injective ETH/USDC PERP+0.0209%1h2,746.7−0.029%$118K$22.5M52xas long as short
Reya ETHRUSDPERP+0.0219%1h2,749.3+0.064%$7.3M$1.1M25xas long as short
Kraken Futures PF_ETHUSD+0.0354%1h2,748.9+0.051%$90.0M$317.0M100xas long as short