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Funding arb · Price arb /

ETH

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Alert: spread
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Funding you earn now, next payment 23:29 UTC+0.0346%/8h= +37.9% APRpaid last 24h +0.036%
Price spread now: Kraken Futures against Perpl+0.008%7-day average −0.006% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on PerplShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 7 days−0.013%−$1 on $10k
Price spread, last 3 days (all we have)−0.040%−$4 · spread now +0.008%, 7d avg −0.006%
Together, before fees−0.053%+ Points / potential airdropPerpl: Active · farm board−$5 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.006%, so right now this pair is about funding alone: +$10 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.013% in total (about -0.7% 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 ETH2,771.8−0.0223get 0.0020% / 43m23m 42s$286K$6.9M8.3x
ShortKraken Futures PF_ETHUSD2,7720.0123get 0.0015% / 1h27m 42s$86.4M$333.6M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures 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
$72.7
Price spread: +0.008% → −0.006%
$1.35
Slippage, 4 orders
no order book: not counted
Fee Perpl: 6.9 bp × 2 orders
−$13.8
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$50.25
Costs to cover
0.238%
Break-even
2.2 days
Slippage unknown: Perpl: no order-book sample; Kraken Futures: live order book, 1 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 Kraken Futures live order book, 1 min ago0.18 bp5.4 bp −$56.3 bp −$638.1 bp −$81411.6 bp −$5,809
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−0.0223%43m2,771.8long leg$286K$6.9M8.3x
RISEx ETH/USDC−0.0206%1h2,771.6−0.007%$5.6M$11.9M25xas long as short
Injective ETH/USDC PERP−0.0088%1h2,781.9+0.366%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,773.1+0.048%$5K$2K50xas long as short
ApeX Omni ETHUSDT−0.0044%1h2,774.2+0.087%$8.9M$32.8M100xas long as short
01 Exchange ETHUSD−0.0008%1h2,772.2+0.016%$168K$1.2M50xas long as short
dYdX ETH-USD0.0000%1h2,769.9−0.066%$12.7M$45.9M50xas long as short
Phoenix ETH+0.0003%1h2,775.6+0.139%$878K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,771.9+0.005%$22.4M—200xas long as short
Aftermath Perps ETHUSD+0.0014%1h2,775.2+0.122%$29K$22K20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDT+0.0016%8h2,770.5−0.045%—$1.21B—as long as short
OKX ETH-USDT-SWAP+0.0020%8h2,769.9−0.067%$1.70B$11.85B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0026% / S +0.0009%1h2,771.8+0.003%$12.9M—200xas long as short
Aster ETHUSDT+0.0032%8h2,770.5−0.045%$256.1M$1.00B200xas long as short
Phemex ETHUSDT+0.0034%8h2,771.2−0.022%$270.2M$69.0M150xas long as short
SoDEX ETH-USD+0.0037%1h2,770.8−0.035%$55.2M$229.0M40xas long as short
Bullet ETH-USD+0.0049%1h2,771.2−0.019%$183K$1.7M20xas long as short
Deribit ETH-PERPETUAL+0.0057%1h2,772.7+0.032%$259.0M$222.3M50xas long as short
MEXC ETH_USDT+0.0060%8h2,769.8−0.071%$1.60B$2.65B500xas long as short
Binance ETHUSDT+0.0060%8h2,769.6−0.079%$6.44B$17.29B150xas long as short
Aevo ETH-PERP+0.0064%1h2,768.6−0.113%$5.0M$636K20xas long as short
Bitget ETHUSDT+0.0066%8h2,769.8−0.071%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0072%8h2,770.5−0.045%$3.29B$9.65B200xas long as short
KuCoin ETHUSDTM+0.0084%8h2,770.1−0.059%$420.6M$739.5M100xas long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,772+0.007%$59.9M$4.59B50xas long as short
Bybit ETHUSDT+0.0090%8h2,770−0.064%$2.50B$4.63B150xas long as short
Vest ETH-PERP+0.0094%1h2,772+0.010%—$1.1M50xas long as short
HTX ETH-USDT+0.0096%8h2,771.3−0.016%$1.08B$1.32B200xas long as short
Lighter ETH+0.0096%1h2,770.1−0.060%$115.1M$499.4M50xas long as short
Lighter RH ETH+0.0096%1h2,772.2+0.015%$25.3M$121.4M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,773.1+0.049%—$42.0M500xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,769.5−0.082%$15.9M$10.2M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,771.7−0.002%$476K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,771.4−0.012%$14.3M$118.2M50xas long as short
Hyperliquid ETH+0.0100%1h2,772.9+0.041%$3.19B$2.35B25xas long as short
Pacifica ETH+0.0100%1h2,770.3−0.053%$31.2M$312.6M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,769.1−0.096%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,770.8−0.035%$2.7M$17.3M25xas long as short
Bulk ETH-USD+0.0100%1h2,772.9+0.041%$167.0M$259.0M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,771.1−0.025%$15.1M$44.4M50xas long as short
Variational Omni ETH+0.0100%8h2,773.3+0.055%$147.8M$336.1M—as long as short
edgeX ETHUSDC+0.0100%4h2,773.6+0.065%$182.1M$784.0M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,774.1+0.085%$161.3M$89.3M50xas long as short
StandX ETH-USD+0.0100%1h2,772.9+0.041%$21.5M$58.7M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,771.6−0.006%$10.7M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,772.3+0.018%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,773.7+0.071%$42.7M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,770.8−0.035%$970K$13.9M100xas long as short
Extended ETH-USD+0.0104%1h2,769.9−0.067%$32.7M$78.0M50xas long as short
Kalshi KXETHPERP+0.0115%8h2,772.6+0.030%$8.3M$685.8M4.9xas long as short
Kraken Futures PF_ETHUSDshort+0.0123%1h2,772+0.008%$86.4M$333.6M100x
Orderly PERP_ETH_USDC+0.0141%8h2,774.1+0.085%$32.6M$12.1M100xas long as short
BloFin ETH-USDT+0.0180%8h2,772.3+0.019%$286.4M$194.0M150xas long as short
Reya ETHRUSDPERP+0.0202%1h2,770.9−0.029%$7.3M$1.1M25xas long as short
Hibachi ETH/USDT-P+0.0240%1h2,773.8+0.074%$252K$1.6M20xas long as short