ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.016%

Price spread now: Phoenix against Ondo Perps+0.044%48s7-day average +0.110% · you sell dearer than you buy

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

Long on Ondo Perps Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 7 days+0.149%+$15 · spread now +0.044%, 7d avg +0.110%

Together, before fees+0.129%+ Points / potential airdropOndo Perps: Active · farm board+$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phoenix is 0.067% cheaper against Ondo Perps than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.110%). Swap the legs. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps ETH-USD.P	2,732.7	0.0100	pay 0.0013% / 1h	4m 32s	$2.7M	$16.7M	25x
Short	Phoenix ETH	2,733.9	0	get 0.0000% / 1h	4m 32s	$826K	$2.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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

Position, each leg$Hold fordaysFee Ondo PerpsbpFee PhoenixbpOrdersPrice spread, now +0.044%Rate

Funding earned: −$21
Price spread: +0.044% → +0.110%: −$6.65
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$39.65
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Phoenix: 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 Phoenix live order book, 4 min ago	0.18 bp	3.8 bp −$4	7.1 bp −$71	16.1 bp −$1,610	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	2,733	+0.011%	$297K	$5.6M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,734.2	+0.055%	$117K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,733.8	+0.040%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,733.6	+0.032%	$11.9M	—	200x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,734.2	+0.055%	$187K	$821K	50x	as long as short
Phoenix ETHshort	0.0000%	1h	2,733.9	+0.044%	$826K	$2.9M	25x
dYdX ETH-USD	0.0000%	1h	2,733	+0.011%	$10.7M	$41.9M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,734.7	+0.073%	$28.1M	—	200x	as long as short
Bullet ETH-USD	+0.0014%	1h	2,734.2	+0.056%	$179K	$1.7M	20x	as long as short
HTX ETH-USDT	+0.0021%	8h	2,732.3	−0.014%	$1.06B	$1.20B	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDC	+0.0044%	8h	2,733	+0.012%	—	$18.5M	—	as long as short
Bybit ETHUSDT	+0.0054%	8h	2,733.6	+0.034%	$2.38B	$4.35B	150x	as long as short
ApeX Omni ETHUSDT	+0.0063%	1h	2,732.3	−0.016%	$8.7M	$31.3M	100x	as long as short
KuCoin ETHUSDTM	+0.0066%	8h	2,733.8	+0.039%	$380.3M	$573.5M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0075%	8h	2,734	+0.048%	$1.67B	$10.71B	100x	as long as short
Phemex ETHUSDT	+0.0081%	8h	2,733.2	+0.018%	$265.6M	$65.2M	150x	as long as short
Aster ETHUSDT	+0.0085%	8h	2,733.6	+0.033%	$251.0M	$841.9M	200x	as long as short
MEXC ETH_USDT	+0.0094%	8h	2,734.3	+0.059%	$1.55B	$2.57B	500x	as long as short
Binance ETHUSDT	+0.0095%	8h	2,733.8	+0.041%	$6.35B	$15.87B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,733.7	+0.038%	$112.8M	$441.9M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,734.9	+0.079%	$23.5M	$106.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,733.1	+0.016%	—	$30.9M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,730.8	−0.068%	$4.9M	$155K	20x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,737.1	+0.160%	$15.5M	$8.0M	50x	as long as short
RISEx ETH/USDC	+0.0099%	1h	2,734.4	+0.063%	$5.6M	$11.7M	25x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,733.5	+0.029%	$500K	$3.3M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,733.4	+0.027%	$13.6M	$104.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,736.6	+0.143%	$3.11B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,734.4	+0.061%	$32.0M	$335.0M	50x	as long as short
Ondo Perps ETH-USD.Plong	+0.0100%	1h	2,732.7	long leg	$2.7M	$16.7M	25x
Arcus ETH-USD	+0.0100%	1h	2,734.4	+0.062%	$1.6M	$16.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,733.7	+0.035%	$169.4M	$313.3M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,733.8	+0.039%	$3.34B	$8.93B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,734.4	+0.063%	$2.07B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,732.1	−0.023%	$15.0M	$39.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,732	−0.026%	$133.7M	$324.6M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,732.4	−0.012%	$183.8M	$670.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,733.6	+0.032%	$159.0M	$86.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,733.5	+0.029%	$21.1M	$68.2M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,734.8	+0.077%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,736	+0.121%	$11.2M	$9.3M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,733.5	+0.030%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,735	+0.083%	$41.3M	$29.8M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,732.2	−0.018%	$958K	$11.3M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,733.2	+0.018%	$54.4M	$187.6M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,732.9	+0.007%	$30.4M	$72.9M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,734.3	+0.057%	$51.3M	$4.27B	50x	as long as short
Aftermath Perps ETHUSD	+0.0117%	1h	2,734	+0.048%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0131%	8h	2,733.4	+0.026%	$6.7M	$678.6M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0149%	1h	2,734.7	+0.071%	$259.6M	$196.3M	50x	as long as short
Orderly PERP_ETH_USDC	+0.0197%	8h	2,735.6	+0.106%	$32.2M	$11.7M	100x	as long as short
Reya ETHRUSDPERP	+0.0216%	1h	2,733.6	+0.034%	$7.3M	$1.2M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0222%	1h	2,733.9	+0.044%	$83.2M	$314.8M	100x	as long as short
Hibachi ETH/USDT-P	+0.0280%	1h	2,734.2	+0.054%	$249K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0378%	8h	2,733.5	+0.028%	$283.3M	$175.7M	150x	as long as short