ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0074%/8h= +8.1% APRnext payment +$0.74 per $10,000 · paid last 24h −0.008%

Price spread now: GRVT against Phemex+0.141%77s7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$210.212% of the position

Long on Phemex Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 3 days (all we have)+0.208%+$21 · spread now +0.141%, 7d avg +0.014%

Together, before fees+0.218%+ Points / potential airdropGRVT: Active · farm board+$22 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and GRVT is 0.127% dearer against Phemex than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.014%. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ETHUSDT	2,771.7	0.0026	pay 0.0026% / 8h	2h 54m	$266.7M	$66.0M	150x
Short	GRVT ETH_USDT_Perp	2,775.6	0.0100	get 0.0100% / 8h	2h 54m	$161.5M	$98.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Phemex. 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

Position, each leg$Hold fordaysFee PhemexbpFee GRVTbpOrdersPrice spread, now +0.141%Rate

Funding earned: $15.5
Price spread: +0.141% → +0.014%: $12.73
Slippage, 4 orders: −$0.19
Fee Phemex: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $7.04
Costs to cover: 0.212%
Break-even: 3.8 days

Slippage from Phemex: live order book, 5 min ago; GRVT: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Phemex live order book, 5 min ago	0.02 bp	6.0 bp −$6	8.9 bp −$89	13.1 bp −$1,311	17.4 bp −$8,693
Sell GRVT live order book, 5 min ago	0.02 bp	4.6 bp −$5	5.9 bp −$59	38.1 bp −$3,809	doesn't fit

ETH on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ETH	−0.0447%	43m	2,773.1	+0.049%	$289K	$6.9M	8.3x	as long as short
ApeX Omni ETHUSDT	−0.0318%	1h	2,773.3	+0.056%	$10.5M	$30.9M	100x	as long as short
Injective ETH/USDC PERP	−0.0107%	1h	2,774.7	+0.108%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,773.1	+0.050%	$5K	$2K	50x	as long as short
01 Exchange ETHUSD	−0.0056%	1h	2,771.7	0.000%	$172K	$1.2M	50x	as long as short
Phoenix ETH	−0.0032%	1h	2,776.7	+0.180%	$799K	$3.7M	25x	as long as short
RISEx ETH/USDC	−0.0011%	1h	2,772.7	+0.036%	$5.8M	$12.0M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,775.4	+0.132%	$13.0M	$45.3M	50x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,774.3	+0.093%	$259.0M	$223.4M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,772.8	+0.039%	$22.4M	—	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0022%	8h	2,772.3	+0.023%	$1.70B	$11.92B	100x	as long as short
Phemex ETHUSDTlong	+0.0026%	8h	2,771.7	long leg	$266.7M	$66.0M	150x
GMX ETH/USD [ETH-USDC]	L +0.0027% / S +0.0009%	1h	2,772.9	+0.044%	$13.0M	—	200x	as long as short
Aftermath Perps ETHUSD	+0.0031%	1h	2,778.6	+0.249%	$29K	$22K	20x	as long as short
Aevo ETH-PERP	+0.0040%	1h	2,769.6	−0.077%	$5.0M	$636K	20x	as long as short
MEXC ETH_USDT	+0.0043%	8h	2,772	+0.009%	$1.60B	$2.62B	500x	as long as short
Binance ETHUSDT	+0.0044%	8h	2,771.9	+0.005%	$6.45B	$17.26B	150x	as long as short
Aster ETHUSDT	+0.0047%	8h	2,771.7	0.000%	$256.2M	$997.6M	200x	as long as short
BingX ETH-USDT	+0.0050%	8h	2,772.9	+0.042%	—	$1.20B	—	as long as short
Gate ETH_USDT	+0.0055%	8h	2,773.1	+0.051%	$3.29B	$9.52B	200x	as long as short
SoDEX ETH-USD	+0.0070%	1h	2,771.6	−0.004%	$55.2M	$228.5M	40x	as long as short
Bitget ETHUSDT	+0.0074%	8h	2,772.8	+0.040%	$2.10B	$3.14B	150x	as long as short
Bullet ETH-USD	+0.0084%	1h	2,771.3	−0.014%	$188K	$1.8M	20x	as long as short
Variational Omni ETH	+0.0092%	8h	2,775.7	+0.145%	$140.7M	$320.1M	—	as long as short
Lighter ETH	+0.0096%	1h	2,772.3	+0.022%	$115.1M	$507.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,773.7	+0.073%	$25.5M	$121.4M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,774.9	+0.116%	—	$42.8M	500x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,773.3	+0.058%	$15.9M	$11.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,772.9	+0.043%	$493K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,771.5	−0.008%	$16.2M	$115.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,774.9	+0.115%	$3.20B	$2.38B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,774	+0.082%	$31.2M	$281.2M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,772.2	+0.018%	$2.51B	$4.65B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,772.3	+0.021%	$2.9M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,774.7	+0.107%	$2.8M	$17.7M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,780.5	+0.318%	$165.0M	$263.0M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,771.9	+0.008%	$426.2M	$746.4M	100x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,772.9	+0.043%	$15.4M	$42.4M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,775.2	+0.126%	$177.5M	$786.2M	100x	as long as short
GRVT ETH_USDT_Perpshort	+0.0100%	8h	2,775.6	+0.141%	$161.5M	$98.8M	50x
StandX ETH-USD	+0.0100%	1h	2,777.6	+0.213%	$21.4M	$57.4M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,773.2	+0.054%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,773.5	+0.065%	$10.8M	$7.9M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,772.3	+0.021%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,773.9	+0.079%	$42.9M	$29.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,771.8	+0.003%	$972K	$14.3M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,771.4	−0.010%	$1.08B	$1.32B	200x	as long as short
Extended ETH-USD	+0.0104%	1h	2,771	−0.027%	$31.6M	$76.6M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,773.3	+0.056%	$60.4M	$4.66B	50x	as long as short
Kalshi KXETHPERP	+0.0111%	8h	2,776.4	+0.169%	$8.6M	$671.9M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0128%	8h	2,774.3	+0.092%	$32.6M	$11.7M	100x	as long as short
BloFin ETH-USDT	+0.0164%	8h	2,777.1	+0.193%	$287.5M	$197.2M	150x	as long as short
Reya ETHRUSDPERP	+0.0194%	1h	2,770.8	−0.033%	$7.5M	$995K	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0240%	1h	2,773	+0.047%	$88.6M	$331.3M	100x	as long as short
Hibachi ETH/USDT-P	+0.0352%	1h	2,775	+0.118%	$273K	$1.5M	20x	as long as short