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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 00:00 UTC+0.0025%/8h= +2.8% APRnext payment +$0.25 per $10,000 · paid last 24h +0.012%
Price spread now: Aster against Phemex−0.013%7-day average +0.015% · you buy dearer than you sell
Net, funding: paid 7d − costs−$18as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$220.215% of the position
Long on PhemexShort on Aster
What this pair did over the last
the charts below follow
Funding, last 7 days+0.032%+$3 on $10k
Price spread, last 3 days (all we have)+0.129%+$13 · spread now −0.013%, 7d avg +0.015%
Together, before fees+0.160%+ Points / potential airdropAster: Stage 5 · farm board+$16 on $10k · with fees, hour by hour
Funding pays, the price is against you. Aster is 0.028% cheaper against Phemex than usual: you would sell low and buy high (spread −0.013% now, against its 7-day average of +0.015%). If the spread goes back, that is −$3 on $10k: about 3.6 days of funding at the current rate (+$1 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex ETHUSDT2,779.20.0013pay 0.0013% / 8h2h 17m$267.6M$66.0M150x
ShortAster ETHUSDT2,778.90.0038get 0.0038% / 8h2h 17m$257.0M$995.3M200x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Aster against Phemex. 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
$5.34
Price spread: −0.013% → +0.015%
−$2.78
Slippage, 4 orders
−$1.52
Fee Phemex: 6 bp × 2 orders
−$12
Fee Aster: 4 bp × 2 orders
−$8
Net
−$18.96
Costs to cover
0.215%
Break-even
31.8 days
Slippage from Phemex: live order book, 2 min ago; Aster: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phemex live order book, 2 min ago0.02 bp7.0 bp −$77.9 bp −$7910.7 bp −$1,06814.7 bp −$7,338
Sell Aster live order book, 2 min ago0.02 bp4.4 bp −$44.7 bp −$476.5 bp −$65013.6 bp −$6,790

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 ETH−0.0112%43m2,777.7−0.053%$290K$6.9M8.3xas long as short
Injective ETH/USDC PERP−0.0107%1h2,776.6−0.094%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,778.7−0.018%$5K$2K50xas long as short
01 Exchange ETHUSD−0.0048%1h2,778.3−0.032%$172K$1.2M50xas long as short
Phoenix ETH−0.0023%1h2,778.2−0.036%$859K$3.7M25xas long as short
RISEx ETH/USDC−0.0011%1h2,778.3−0.033%$5.8M$11.7M25xas long as short
Aftermath Perps ETHUSD−0.0002%1h2,776.1−0.112%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,777.9−0.047%$12.7M$45.5M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,779.7+0.018%$22.5M—200xas long as short
Phemex ETHUSDTlong+0.0013%8h2,779.2long leg$267.6M$66.0M150x
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0022%8h2,778.5−0.026%$1.71B$11.92B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0028% / S +0.0009%1h2,779.6+0.016%$13.2M—200xas long as short
Aster ETHUSDTshort+0.0038%8h2,778.9−0.013%$257.0M$995.3M200x
ApeX Omni ETHUSDT+0.0040%1h2,777.7−0.055%$8.8M$32.6M100xas long as short
Aevo ETH-PERP+0.0048%1h2,777.7−0.053%$5.0M$636K20xas long as short
MEXC ETH_USDT+0.0049%8h2,779.4+0.008%$1.60B$2.68B500xas long as short
Binance ETHUSDT+0.0050%8h2,779.5+0.012%$6.45B$17.22B150xas long as short
Gate ETH_USDT+0.0074%8h2,779−0.006%$3.29B$9.67B200xas long as short
Bitget ETHUSDT+0.0075%8h2,779.1−0.003%$2.10B$3.13B150xas long as short
Bullet ETH-USD+0.0084%1h2,779−0.007%$184K$1.8M20xas long as short
Variational Omni ETH+0.0096%8h2,776.8−0.088%$141.1M$320.7M—as long as short
Lighter ETH+0.0096%1h2,779.5+0.011%$115.3M$514.6M50xas long as short
Lighter RH ETH+0.0096%1h2,781.1+0.069%$25.4M$122.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,779.7+0.019%—$41.7M500xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,778.1−0.038%$16.0M$10.8M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,778.1−0.040%$488K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,776.8−0.088%$15.3M$117.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,780.9+0.061%$3.21B$2.39B25xas long as short
Pacifica ETH+0.0100%1h2,778.5−0.025%$31.3M$289.2M50xas long as short
Bybit ETHUSDT+0.0100%8h2,778.7−0.018%$2.52B$4.64B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,777−0.079%$2.9M$16.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,780.1+0.032%$2.8M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,778.1−0.040%$165.4M$253.6M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,779.1−0.003%$423.3M$741.7M100xas long as short
BingX ETH-USDT+0.0100%8h2,778.9−0.011%—$1.18B—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,776.4−0.101%$15.4M$42.8M50xas long as short
edgeX ETHUSDC+0.0100%4h2,775.9−0.117%$179.9M$794.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,775.7−0.127%$161.4M$97.4M50xas long as short
StandX ETH-USD+0.0100%1h2,776.8−0.086%$21.4M$57.8M40xas long as short
Vest ETH-PERP+0.0100%1h2,778.5−0.025%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,779.6+0.014%$10.8M$7.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,779.5+0.009%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,781.4+0.081%$42.8M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,778.3−0.031%$974K$14.2M100xas long as short
SoDEX ETH-USD+0.0100%1h2,779.1−0.004%$55.3M$228.6M40xas long as short
HTX ETH-USDT+0.0100%8h2,778.6−0.020%$1.08B$1.32B200xas long as short
Extended ETH-USD+0.0104%1h2,778.7−0.019%$31.4M$75.7M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,780.6+0.051%$60.1M$4.64B50xas long as short
Deribit ETH-PERPETUAL+0.0106%1h2,780.8+0.058%$258.5M$225.1M50xas long as short
Kalshi KXETHPERP+0.0121%8h2,778.6−0.022%$8.6M$674.1M4.9xas long as short
Orderly PERP_ETH_USDC+0.0134%8h2,782+0.101%$32.6M$12.0M100xas long as short
BloFin ETH-USDT+0.0170%8h2,778.9−0.010%$284.7M$196.1M150xas long as short
Reya ETHRUSDPERP+0.0183%1h2,778.1−0.039%$7.4M$1.1M25xas long as short
Kraken Futures PF_ETHUSD+0.0240%1h2,780.5+0.047%$86.9M$330.9M100xas long as short
Hibachi ETH/USDT-P+0.0448%1h2,778.4−0.030%$283K$1.5M20xas long as short