ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0070%/8h= −7.6% APRnext payment −$0.70 per $10,000 · paid last 24h −0.045%

Price spread now: Kalshi against Orderly−0.034%7-day average −0.108% · you buy dearer than you sell

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

Long on Orderly Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.324%−$32 on $10k

Price spread, last 4 days (all we have)+0.103%+$10 · spread now −0.034%, 7d avg −0.108%

Together, before fees−0.221%−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.074% dearer against Orderly than usual: you sell high and buy low (spread −0.034% now, against its 7-day average of −0.108%): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.5 days. At the pace of the last 7 days (−0.324% in total) that is about 38 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_ETH_USDC	2,740.1	0.0199	pay 0.0199% / 8h	3h 58m	$32.2M	$11.7M	100x
Short	Kalshi KXETHPERP	2,739.2	0.0129	get 0.0129% / 8h	3h 58m	$6.8M	$679.7M	4.9x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Orderly. 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 OrderlybpFee KalshibpOrdersPrice spread, now −0.034%Rate

Funding earned: −$14.66
Price spread: −0.034% → −0.108%: $7.35
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$23.31
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Kalshi: live order book, 6 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 Orderly no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 6 min ago	0.37 bp	5.7 bp −$6	7.0 bp −$70	11.1 bp −$1,105	18.7 bp −$9,335

Orderly: 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	2,738.1	−0.075%	$297K	$5.6M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,738.1	−0.074%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,738.4	−0.063%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,737.7	−0.088%	$10.7M	$41.9M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,737.3	−0.104%	$827K	$2.9M	25x	as long as short
Bullet ETH-USD	+0.0006%	1h	2,738	−0.080%	$180K	$1.7M	20x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,738.2	−0.071%	$28.1M	—	200x	as long as short
SoDEX ETH-USD	+0.0008%	1h	2,737.7	−0.089%	$54.5M	$187.7M	40x	as long as short
HTX ETH-USDT	+0.0024%	8h	2,737.5	−0.096%	$1.06B	$1.20B	200x	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,737.9	−0.082%	$187K	$820K	50x	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	+0.0043%	8h	2,737.5	−0.097%	—	$1.15B	—	as long as short
Bybit ETHUSDT	+0.0053%	8h	2,736.8	−0.121%	$2.37B	$4.36B	150x	as long as short
ApeX Omni ETHUSDT	+0.0064%	1h	2,736.1	−0.147%	$8.7M	$31.3M	100x	as long as short
KuCoin ETHUSDTM	+0.0068%	8h	2,737.7	−0.089%	$380.3M	$573.7M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0075%	8h	2,737	−0.113%	$1.67B	$10.74B	100x	as long as short
Phemex ETHUSDT	+0.0079%	8h	2,737.8	−0.085%	$265.9M	$65.1M	150x	as long as short
Aster ETHUSDT	+0.0092%	8h	2,738.2	−0.071%	$251.1M	$842.1M	200x	as long as short
Lighter ETH	+0.0096%	1h	2,738.1	−0.074%	$113.1M	$430.0M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,739.2	−0.033%	$23.5M	$103.5M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,739.7	−0.018%	—	$31.0M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,735.3	−0.177%	$4.9M	$155K	20x	as long as short
Injective ETH/USDC PERP	+0.0096%	1h	2,747.1	+0.254%	$118K	$22.5M	52x	as long as short
MEXC ETH_USDT	+0.0098%	8h	2,737.5	−0.096%	$1.56B	$2.53B	500x	as long as short
Backpack ETH_USDC_PERP	+0.0099%	1h	2,736.5	−0.133%	$15.2M	$40.7M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,742.1	+0.072%	$15.6M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,737.2	−0.107%	$500K	$3.3M	50x	as long as short
Binance ETHUSDT	+0.0100%	8h	2,737.1	−0.111%	$6.36B	$15.89B	150x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,739.2	−0.033%	$13.6M	$104.4M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,739.2	−0.034%	$3.11B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,738.6	−0.056%	$31.9M	$334.0M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,737.1	−0.111%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,737.9	−0.081%	$1.6M	$15.9M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,733.7	−0.236%	$169.4M	$313.3M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,737.5	−0.096%	$3.34B	$8.81B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,737.5	−0.095%	$2.07B	$2.73B	150x	as long as short
Variational Omni ETH	+0.0100%	8h	2,737.3	−0.103%	$134.0M	$324.5M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,737	−0.114%	$184.1M	$671.7M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,736.6	−0.129%	$159.2M	$86.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,738.9	−0.045%	$21.1M	$68.3M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,739.5	−0.024%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,740	−0.005%	$11.2M	$9.3M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,738.9	−0.046%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,739.6	−0.019%	$41.3M	$29.8M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,737.7	−0.088%	$961K	$11.3M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,736.8	−0.124%	$30.4M	$72.9M	50x	as long as short
RISEx ETH/USDC	+0.0107%	1h	2,737.9	−0.081%	$5.7M	$11.7M	25x	as long as short
Aftermath Perps ETHUSD	+0.0116%	1h	2,736.7	−0.124%	$30K	$20K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,738.7	−0.053%	$51.3M	$4.27B	50x	as long as short
Kalshi KXETHPERPshort	+0.0129%	8h	2,739.2	−0.034%	$6.8M	$679.7M	4.9x
Deribit ETH-PERPETUAL	+0.0144%	1h	2,739.2	−0.035%	$260.3M	$197.3M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0153%	1h	2,738.4	−0.062%	$83.5M	$315.4M	100x	as long as short
Orderly PERP_ETH_USDClong	+0.0199%	8h	2,740.1	long leg	$32.2M	$11.7M	100x
Reya ETHRUSDPERP	+0.0216%	1h	2,737.4	−0.101%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0280%	1h	2,739.2	−0.035%	$249K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0394%	8h	2,737.7	−0.089%	$283.5M	$175.9M	150x	as long as short