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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 00:12 UTC+0.0212%/8h= +23.2% APRpaid last 24h +0.037%
Price spread now: Arcus against Perpl+0.047%7-day average +0.007% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on PerplShort on Arcus
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.028%+$3 on $10k
Price spread, last 7 days−0.025%−$2 · spread now +0.047%, 7d avg +0.007%
Together, before fees+0.003%+ Points / potential airdropPerpl: Active · farm board$0 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Arcus is 0.039% dearer against Perpl than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.007%.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.028% in total (about 2.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPerpl ETH2,771.8−0.0112get 0.0010% / 43m23m 10s$285K$6.5M8.3x
ShortArcus ETH-USD2,773.10.0100get 0.0013% / 1h44m 10s$2.8M$17.1M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Arcus against Perpl. 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
$44.44
Price spread: +0.047% → +0.007%
$3.95
Slippage, 4 orders
no order book: not counted
Fee Perpl: 6.9 bp × 2 orders
−$13.8
Fee Arcus: 2.25 bp × 2 orders
−$4.5
Net
$30.09
Costs to cover
0.183%
Break-even
2.3 days
Slippage unknown: Perpl: no order-book sample; Arcus: live order book, 5 min ago. 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 Perpl no order-book sample—————
Sell Arcus live order book, 5 min ago0.41 bp3.0 bp −$33.7 bp −$375.5 bp −$550doesn't fit
Perpl: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective ETH/USDC PERP−0.0752%1h2,770.4−0.052%$119K$22.5M52xas long as short
RISEx ETH/USDC−0.0128%1h2,772.3+0.018%$5.7M$11.4M25xas long as short
Perpl ETHlong−0.0112%43m2,771.8long leg$285K$6.5M8.3x
Hotstuff ETH-PERP−0.0080%1h2,773.7+0.067%$5K$1K50xas long as short
Phemex ETHUSDT−0.0049%8h2,770.2−0.058%$269.8M$67.6M150xas long as short
01 Exchange ETHUSD−0.0032%1h2,771.7−0.005%$168K$1.1M50xas long as short
Phoenix ETH−0.0003%1h2,771.8−0.001%$878K$3.7M25xas long as short
dYdX ETH-USD0.0000%1h2,773+0.043%$12.2M$46.1M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,771.5−0.013%$22.4M—200xas long as short
Gate ETH_USDT+0.0008%8h2,771−0.031%$3.33B$8.94B200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0022%8h2,773+0.042%$1.71B$11.45B100xas long as short
Bullet ETH-USD+0.0023%1h2,770.2−0.059%$183K$1.7M20xas long as short
GMX ETH/USD [ETH-USDC]L +0.0025% / S +0.0009%1h2,771.1−0.027%$12.7M—200xas long as short
Aster ETHUSDT+0.0042%8h2,772+0.005%$256.8M$914.3M200xas long as short
SoDEX ETH-USD+0.0046%1h2,770.3−0.055%$55.2M$208.4M40xas long as short
Aftermath Perps ETHUSD+0.0046%1h2,771.6−0.008%$31K$23K20xas long as short
Aevo ETH-PERP+0.0056%1h2,769.3−0.090%$5.0M$165K20xas long as short
MEXC ETH_USDT+0.0058%8h2,770.7−0.042%$1.63B$2.62B500xas long as short
Binance ETHUSDT+0.0059%8h2,771.9+0.004%$6.47B$16.71B150xas long as short
Bitget ETHUSDT+0.0068%8h2,771.1−0.026%$2.10B$2.94B150xas long as short
HTX ETH-USDT+0.0069%8h2,770.6−0.044%$1.08B$1.28B200xas long as short
Coinbase International ETH-PERP-INTX+0.0080%1h2,771.4−0.016%$60.4M$4.51B50xas long as short
KuCoin ETHUSDTM+0.0081%8h2,770.7−0.040%$420.6M$648.3M100xas long as short
Vest ETH-PERP+0.0087%1h2,771.6−0.009%—$911K50xas long as short
Lighter ETH+0.0096%1h2,770.7−0.039%$115.2M$456.6M50xas long as short
Lighter RH ETH+0.0096%1h2,772.1+0.008%$25.2M$110.0M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,772.3+0.015%$15.9M$9.2M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,772+0.006%$487K$2.8M50xas long as short
Nado ETH-PERP+0.0100%1h2,773.3+0.053%$14.5M$116.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,773+0.040%$3.17B$2.31B25xas long as short
Pacifica ETH+0.0100%1h2,773.4+0.056%$31.2M$322.6M50xas long as short
Bybit ETHUSDT+0.0100%8h2,772.4+0.021%$2.51B$4.46B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,772.7+0.031%$2.8M$17.1M25xas long as short
Arcus ETH-USDshort+0.0100%1h2,773.1+0.047%$2.8M$17.1M25x
Bulk ETH-USD+0.0100%1h2,769.9−0.068%$170.3M$272.1M25xas long as short
BingX ETH-USDC+0.0100%8h2,770.6−0.044%—$17.5M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,770.4−0.052%$15.3M$42.3M50xas long as short
Variational Omni ETH+0.0100%8h2,770.3−0.056%$151.3M$342.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,768.8−0.108%$181.8M$786.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,770.2−0.057%$161.1M$86.9M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,770.3−0.056%$8.7M$32.8M100xas long as short
StandX ETH-USD+0.0100%1h2,770.6−0.044%$21.4M$59.2M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,771−0.030%$10.6M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,771.7−0.005%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,772.8+0.033%$42.6M$29.0M15xas long as short
SunX ETH-USDT+0.0100%8h2,770.6−0.046%$972K$13.5M100xas long as short
Extended ETH-USD+0.0104%1h2,769.8−0.074%$32.5M$73.6M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,773.1+0.047%—$38.3M500xas long as short
Kalshi KXETHPERP+0.0104%8h2,773.4+0.057%$8.1M$687.4M4.9xas long as short
Deribit ETH-PERPETUAL+0.0111%1h2,771.8−0.001%$259.1M$211.9M50xas long as short
Kraken Futures PF_ETHUSD+0.0134%1h2,771.5−0.011%$93.3M$324.1M100xas long as short
Orderly PERP_ETH_USDC+0.0147%8h2,773+0.043%$32.6M$11.7M100xas long as short
Hibachi ETH/USDT-P+0.0160%1h2,773.2+0.051%$253K$1.5M20xas long as short
BloFin ETH-USDT+0.0178%8h2,772.3+0.018%$287.6M$188.5M150xas long as short
Reya ETHRUSDPERP+0.0209%1h2,770.2−0.060%$7.3M$1.2M25xas long as short