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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 22:03 UTC+0.0543%/8h= +59.4% APRpaid last 24h +0.026%
Price spread now: Bybit against Perpl−0.002%7-day average −0.020% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on PerplShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days−0.141%−$14 on $10k
Price spread, last 7 days−0.006%−$1 · spread now −0.002%, 7d avg −0.020%
Together, before fees−0.147%+ Points / potential airdropPerpl: Active · farm board−$15 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.020%, so right now this pair is about funding alone: +$16 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.141%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.141% in total (about -7.3% 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 ETH2,777.5−0.0447get 0.0040% / 43m9m 25s$289K$6.9M8.3x
ShortBybit ETHUSDT2,777.40.0096get 0.0096% / 8h1h 39m$2.52B$4.59B150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit against Perpl. 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

Funding earned
$113.94
Price spread: −0.002% → −0.020%
$1.77
Slippage, 4 orders
no order book: not counted
Fee Perpl: 6.9 bp × 2 orders
−$13.8
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
$90.91
Costs to cover
0.248%
Break-even
1.4 days
Slippage unknown: Perpl: no order-book sample; Bybit: 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 Bybit live order book, 5 min ago0.02 bp5.5 bp −$65.5 bp −$557.7 bp −$77010.5 bp −$5,228
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
Perpl ETHlong−0.0447%43m2,777.5long leg$289K$6.9M8.3x
RISEx ETH/USDC−0.0085%1h2,777.2−0.012%$5.8M$12.1M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,778+0.018%$5K$2K50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,775.7−0.064%$119K$22.5M52xas long as short
01 Exchange ETHUSD−0.0032%1h2,778+0.018%$169K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0025%1h2,778.4+0.032%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,780+0.089%$12.7M$45.5M50xas long as short
Phoenix ETH0.0000%1h2,781.4+0.141%$885K$3.7M25xas long as short
Phemex ETHUSDT+0.0004%8h2,780.4+0.103%$270.4M$68.5M150xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,778.2+0.027%$22.4M—200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDT+0.0015%8h2,777.50.000%—$1.18B—as long as short
OKX ETH-USDT-SWAP+0.0019%8h2,777.6+0.003%$1.71B$11.84B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0028% / S +0.0009%1h2,778+0.019%$13.2M—200xas long as short
Aster ETHUSDT+0.0039%8h2,779+0.053%$256.9M$989.7M200xas long as short
Bullet ETH-USD+0.0040%1h2,777.4−0.004%$182K$1.8M20xas long as short
Nado ETH-PERP+0.0052%1h2,777.50.000%$14.3M$117.8M50xas long as short
Aevo ETH-PERP+0.0056%1h2,774.9−0.092%$5.0M$636K20xas long as short
MEXC ETH_USDT+0.0061%8h2,777.7+0.008%$1.62B$2.65B500xas long as short
Binance ETHUSDT+0.0062%8h2,777.7+0.008%$6.45B$17.10B150xas long as short
Bitget ETHUSDT+0.0073%8h2,777.7+0.007%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0076%8h2,777.4−0.004%$3.29B$9.57B200xas long as short
Lighter ETH+0.0096%1h2,778.4+0.031%$115.1M$497.7M50xas long as short
Lighter RH ETH+0.0096%1h2,780.7+0.117%$25.5M$120.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,780.6+0.112%—$41.5M500xas long as short
Bybit ETHUSDTshort+0.0096%8h2,777.4−0.002%$2.52B$4.59B150x
HTX ETH-USDT+0.0096%8h2,781.1+0.129%$1.08B$1.31B200xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,778.7+0.044%$16.0M$10.5M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,778.1+0.022%$482K$2.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,780.1+0.094%$3.19B$2.36B25xas long as short
Pacifica ETH+0.0100%1h2,778.9+0.052%$31.4M$297.6M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,777.2−0.010%$2.8M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,779.4+0.069%$2.8M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,781.3+0.138%$166.9M$248.1M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,777.8+0.010%$426.2M$737.7M100xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,781.5+0.143%$15.3M$44.0M50xas long as short
Variational Omni ETH+0.0100%8h2,781.7+0.152%$135.5M$322.3M—as long as short
edgeX ETHUSDC+0.0100%4h2,780.9+0.123%$180.2M$779.0M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,779.5+0.071%$161.7M$92.5M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,781+0.125%$8.7M$32.6M100xas long as short
StandX ETH-USD+0.0100%1h2,780.7+0.116%$21.5M$57.9M40xas long as short
Vest ETH-PERP+0.0100%1h2,778.8+0.047%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,779.2+0.062%$10.8M$7.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,781.3+0.138%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,783.1+0.202%$42.8M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,779.6+0.074%$975K$14.0M100xas long as short
SoDEX ETH-USD+0.0100%1h2,780.8+0.119%$55.4M$228.8M40xas long as short
Extended ETH-USD+0.0104%1h2,776.9−0.023%$31.6M$74.6M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,782.1+0.166%$60.3M$4.60B50xas long as short
Kalshi KXETHPERP+0.0114%8h2,781.5+0.144%$8.6M$672.9M4.9xas long as short
Hibachi ETH/USDT-P+0.0120%1h2,782.2+0.169%$279K$1.5M20xas long as short
Deribit ETH-PERPETUAL+0.0120%1h2,782.4+0.175%$258.4M$221.6M50xas long as short
Orderly PERP_ETH_USDC+0.0139%8h2,783.5+0.217%$32.7M$12.0M100xas long as short
Kraken Futures PF_ETHUSD+0.0169%1h2,781.8+0.157%$86.3M$330.4M100xas long as short
BloFin ETH-USDT+0.0178%8h2,779.6+0.077%$285.4M$194.7M150xas long as short
Reya ETHRUSDPERP+0.0189%1h2,777.6+0.003%$7.4M$1.1M25xas long as short