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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 05:14 UTC+0.0547%/8h= +59.8% APRpaid last 24h +0.064%
Price spread now: Polymarket Perps against Perpl+0.052%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 Polymarket Perps
What this pair did over the last
the charts below follow
Funding, last 7 days−0.020%−$2 on $10k
Price spread, last 7 days−0.062%−$6 · spread now +0.052%, 7d avg −0.006%
Together, before fees−0.082%+ Points / potential airdropPerpl: Active · farm board−$8 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Polymarket Perps is 0.058% dearer against Perpl than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.006%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.020% in total (about -1.1% 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 ETH2,726.8−0.0447get 0.0040% / 43m23m 39s$288K$5.7M8.3x
ShortPolymarket Perps ETH-USD2,728.20.0100get 0.0013% / 1h43m 39s$11.2M$9.5M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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
$114.77
Price spread: +0.052% → −0.006%
$5.78
Slippage, 4 orders
no order book: not counted
Fee Perpl: 6.9 bp × 2 orders
−$13.8
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Net
$98.75
Costs to cover
0.218%
Break-even
1.0 days
Slippage unknown: Perpl: no order-book sample; Polymarket Perps: 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
LegHalf-spread$10k$100k$1M$5M
Buy Perpl no order-book sample—————
Sell Polymarket Perps live order book, 6 min ago0.18 bp4.5 bp −$55.0 bp −$5012.7 bp −$1,265doesn'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
Perpl ETHlong−0.0447%43m2,726.8long leg$288K$5.7M8.3x
Hotstuff ETH-PERP−0.0080%1h2,727.2+0.015%$5K$1K50xas long as short
HTX ETH-USDT−0.0012%8h2,725.9−0.032%$1.05B$1.21B200xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,726.5−0.009%$11.9M—200xas long as short
Phoenix ETH−0.0009%1h2,727+0.008%$814K$3.0M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,726.6−0.006%$28.0M—200xas long as short
Injective ETH/USDC PERP+0.0009%1h2,727.7+0.034%$117K$22.5M52xas long as short
dYdX ETH-USD+0.0018%1h2,726−0.029%$10.7M$42.2M50xas long as short
BingX ETH-USDC+0.0032%8h2,724−0.102%—$18.5M—as long as short
01 Exchange ETHUSD+0.0040%1h2,725.2−0.058%$185K$785K50xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit ETHUSDT+0.0042%8h2,724.6−0.080%$2.36B$4.40B150xas long as short
Bullet ETH-USD+0.0062%1h2,726.2−0.021%$179K$1.7M20xas long as short
SunX ETH-USDT+0.0064%8h2,726.7−0.004%$956K$11.2M100xas long as short
KuCoin ETHUSDTM+0.0071%8h2,725.8−0.037%$377.2M$576.7M100xas long as short
Aftermath Perps ETHUSD+0.0072%1h2,728.1+0.050%$30K$20K20xas long as short
Deribit ETH-PERPETUAL+0.0073%1h2,727.6+0.030%$258.4M$203.2M50xas long as short
Aevo ETH-PERP+0.0080%1h2,724.3−0.092%$4.9M$155K20xas long as short
Aster ETHUSDT+0.0081%8h2,725.6−0.045%$252.2M$843.3M200xas long as short
ApeX Omni ETHUSDT+0.0084%1h2,727.6+0.031%$8.7M$31.2M100xas long as short
Phemex ETHUSDT+0.0087%8h2,726−0.029%$263.7M$64.1M150xas long as short
OKX ETH-USDT-SWAP+0.0087%8h2,724.7−0.075%$1.67B$10.74B100xas long as short
MEXC ETH_USDT+0.0087%8h2,724.8−0.074%$1.56B$2.55B500xas long as short
Binance ETHUSDT+0.0087%8h2,724.2−0.095%$6.31B$15.98B150xas long as short
Lighter ETH+0.0096%1h2,725.8−0.035%$111.8M$429.3M50xas long as short
Lighter RH ETH+0.0096%1h2,727.2+0.014%$23.4M$102.8M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,727.3+0.019%—$31.0M500xas long as short
Katana Perps ETH-USD+0.0100%8h2,724.2−0.095%$498K$3.4M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,727.7+0.035%$15.3M$8.0M50xas long as short
Nado ETH-PERP+0.0100%1h2,726.80.000%$13.7M$104.9M50xas long as short
Hyperliquid ETH+0.0100%1h2,727.6+0.030%$3.09B$2.04B25xas long as short
Pacifica ETH+0.0100%1h2,726.1−0.024%$31.8M$333.9M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,724.2−0.095%$2.7M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,725.5−0.049%$1.5M$16.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,729+0.080%$165.1M$317.5M25xas long as short
Gate ETH_USDT+0.0100%8h2,724.9−0.070%$3.33B$8.85B200xas long as short
Bitget ETHUSDT+0.0100%8h2,725−0.067%$2.08B$2.74B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,726.1−0.024%$15.0M$42.7M50xas long as short
Variational Omni ETH+0.0100%8h2,725.3−0.054%$134.6M$325.1M—as long as short
edgeX ETHUSDC+0.0100%4h2,727.9+0.042%$183.2M$672.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,726.9+0.006%$158.6M$87.3M50xas long as short
StandX ETH-USD+0.0100%1h2,727.8+0.037%$21.0M$73.7M40xas long as short
Vest ETH-PERP+0.0100%1h2,728.1+0.048%—$846K50xas long as short
Polymarket Perps ETH-USDshort+0.0100%1h2,728.2+0.052%$11.2M$9.5M50x
Bluefin ETH-PERP+0.0100%1h2,727+0.009%$22K$21K25xas long as short
Derive ETH-PERP+0.0100%1h2,727.8+0.037%$40.9M$30.1M15xas long as short
SoDEX ETH-USD+0.0100%1h2,726.4−0.014%$54.3M$187.9M40xas long as short
Extended ETH-USD+0.0104%1h2,724−0.102%$30.6M$73.9M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,726.9+0.003%$49.9M$4.28B50xas long as short
RISEx ETH/USDC+0.0108%1h2,725.4−0.052%$5.6M$11.7M25xas long as short
Kalshi KXETHPERP+0.0158%8h2,727.1+0.012%$6.3M$690.1M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0176%1h2,726.9+0.003%$83.0M$316.0M100xas long as short
Orderly PERP_ETH_USDC+0.0188%8h2,729+0.080%$32.1M$11.5M100xas long as short
Reya ETHRUSDPERP+0.0203%1h2,725.9−0.031%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0232%1h2,728.5+0.063%$249K$1.4M20xas long as short
BloFin ETH-USDT+0.0348%8h2,726.4−0.014%$282.3M$174.3M150xas long as short