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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 20:36 UTC+0.0469%/8h= +51.3% APRpaid last 24h 0.000%
Price spread now: OKX against Perpl−0.015%7-day average −0.022% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on PerplShort on OKX
What this pair did over the last
the charts below follow
Funding, last 7 days−0.144%−$14 on $10k
Price spread, last 7 days+0.005%$0 · spread now −0.015%, 7d avg −0.022%
Together, before fees−0.139%+ Points / potential airdropPerpl: Active · farm board−$14 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.022%, so right now this pair is about funding alone: +$14 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.144%, 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 -0.144% in total (about -7.5% 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 ETH2,774.1−0.0447get 0.0040% / 43m42m 53s$290K$6.9M8.3x
ShortOKX ETH-USDT-SWAP2,773.60.0022get 0.0022% / 8h2h 55m$1.71B$11.92B100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

OKX 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
$98.4
Price spread: −0.015% → −0.022%
$0.76
Slippage, 4 orders
no order book: not counted
Fee Perpl: 6.9 bp × 2 orders
−$13.8
Fee OKX: 5 bp × 2 orders
−$10
Net
$75.37
Costs to cover
0.238%
Break-even
1.6 days
Slippage unknown: Perpl: no order-book sample; OKX: live order book, 3 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 OKX live order book, 3 min ago0.02 bp5.0 bp −$55.0 bp −$506.1 bp −$6088.0 bp −$4,005
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%43m2,774.1long leg$290K$6.9M8.3x
Injective ETH/USDC PERP−0.0107%1h2,773.8−0.009%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,776.1+0.074%$5K$2K50xas long as short
01 Exchange ETHUSD−0.0048%1h2,772.9−0.041%$172K$1.2M50xas long as short
Phoenix ETH−0.0032%1h2,776.7+0.096%$794K$3.7M25xas long as short
RISEx ETH/USDC−0.0011%1h2,773−0.037%$5.8M$12.0M25xas long as short
dYdX ETH-USD0.0000%1h2,775.9+0.065%$13.0M$45.3M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,774.8+0.027%$22.4M—200xas long as short
Phemex ETHUSDT+0.0015%8h2,774.3+0.009%$267.0M$66.0M150xas long as short
BingX ETH-USDT+0.0017%8h2,773.4−0.024%—$1.20B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX ETH-USD+0.0021%1h2,774.6+0.020%$55.2M$228.5M40xas long as short
OKX ETH-USDT-SWAPshort+0.0022%8h2,773.6−0.015%$1.71B$11.92B100x
Aftermath Perps ETHUSD+0.0027%1h2,780.1+0.218%$29K$22K20xas long as short
GMX ETH/USD [ETH-USDC]L +0.0027% / S +0.0009%1h2,774.7+0.024%$13.1M—200xas long as short
Binance ETHUSDT+0.0044%8h2,773.7−0.014%$6.46B$17.35B150xas long as short
MEXC ETH_USDT+0.0045%8h2,774.1+0.003%$1.61B$2.61B500xas long as short
Aster ETHUSDT+0.0047%8h2,773.6−0.016%$256.4M$1.00B200xas long as short
Aevo ETH-PERP+0.0048%1h2,773.3−0.028%$5.0M$636K20xas long as short
Gate ETH_USDT+0.0053%8h2,773.5−0.019%$3.29B$9.51B200xas long as short
ApeX Omni ETHUSDT+0.0054%1h2,780.8+0.245%$10.5M$30.9M100xas long as short
Bitget ETHUSDT+0.0074%8h2,773.7−0.013%$2.09B$3.14B150xas long as short
Bullet ETH-USD+0.0080%1h2,773.8−0.009%$188K$1.8M20xas long as short
Variational Omni ETH+0.0093%8h2,785.4+0.410%$141.2M$320.4M—as long as short
Lighter ETH+0.0096%1h2,774.9+0.031%$115.3M$506.2M50xas long as short
Lighter RH ETH+0.0096%1h2,776.3+0.081%$25.5M$121.3M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,776.5+0.088%—$46.4M500xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,775.5+0.054%$15.9M$11.1M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,773.6−0.016%$493K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,772.5−0.054%$16.3M$115.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,777.2+0.114%$3.20B$2.41B25xas long as short
Pacifica ETH+0.0100%1h2,775.6+0.055%$31.2M$281.2M50xas long as short
Bybit ETHUSDT+0.0100%8h2,773.4−0.023%$2.51B$4.65B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,773.7−0.013%$2.9M$16.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,775.2+0.040%$2.8M$17.7M25xas long as short
Bulk ETH-USD+0.0100%1h2,780.5+0.233%$165.0M$263.0M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,773.2−0.032%$426.5M$750.0M100xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,774.9+0.029%$15.4M$42.4M50xas long as short
edgeX ETHUSDC+0.0100%4h2,782+0.286%$177.9M$785.4M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,780.7+0.240%$161.8M$98.4M50xas long as short
StandX ETH-USD+0.0100%1h2,776.9+0.103%$21.4M$57.4M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,774.9+0.031%$10.8M$7.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,774.9+0.031%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,777.4+0.121%$43.0M$30.0M15xas long as short
SunX ETH-USDT+0.0100%8h2,774.9+0.030%$973K$14.4M100xas long as short
HTX ETH-USDT+0.0100%8h2,774.1+0.003%$1.08B$1.32B200xas long as short
Vest ETH-PERP+0.0100%1h2,774.8+0.025%—$1.1M50xas long as short
Extended ETH-USD+0.0104%1h2,773.2−0.031%$31.6M$76.7M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,776.1+0.073%$60.3M$4.66B50xas long as short
Kalshi KXETHPERP+0.0111%8h2,776.2+0.078%$8.5M$672.1M4.9xas long as short
Orderly PERP_ETH_USDC+0.0127%8h2,777.3+0.117%$32.6M$11.7M100xas long as short
Deribit ETH-PERPETUAL+0.0143%1h2,777.1+0.109%$258.9M$224.0M50xas long as short
BloFin ETH-USDT+0.0166%8h2,775.9+0.066%$287.4M$197.8M150xas long as short
Reya ETHRUSDPERP+0.0194%1h2,772.5−0.056%$7.5M$998K25xas long as short
Kraken Futures PF_ETHUSD+0.0240%1h2,775.9+0.067%$88.7M$331.8M100xas long as short
Hibachi ETH/USDT-P+0.0344%1h2,778.2+0.151%$274K$1.5M20xas long as short