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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 08:00 UTC+0.0023%/8h= +2.6% APRnext payment +$0.23 per $10,000 · paid last 24h +0.015%
Price spread now: Katana Perps against Phemex+0.019%7-day average +0.004% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on PhemexShort on Katana Perps
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.039%+$4 on $10k
Price spread, last 3 days (all we have)+0.006%+$1 · spread now +0.019%, 7d avg +0.004%
Together, before fees+0.045%+$4 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.004%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex ETHUSDT2,770.10.0076pay 0.0076% / 8h7h 12m$269.6M$66.1M150x
ShortKatana Perps ETH-USD2,770.60.0100get 0.0100% / 8h7h 12m$488K$2.7M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Katana Perps 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

Funding earned
$4.9
Price spread: +0.019% → +0.004%
$1.45
Slippage, 4 orders
no order book: not counted
Fee Phemex: 6 bp × 2 orders
−$12
Fee Katana Perps: 1.9 bp × 2 orders
−$3.8
Net
−$9.45
Costs to cover
0.158%
Break-even
20.5 days
Slippage unknown: Phemex: live order book, 6 min ago; Katana Perps: no order-book sample. 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 Phemex live order book, 6 min ago0.02 bp7.6 bp −$810.4 bp −$10412.4 bp −$1,24016.6 bp −$8,295
Sell Katana Perps no order-book sample—————
Katana Perps: 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
Injective ETH/USDC PERP−0.0752%1h2,773.8+0.134%$119K$22.5M52xas long as short
RISEx ETH/USDC−0.0128%1h2,770.2+0.004%$5.6M$11.2M25xas long as short
Perpl ETH−0.0112%43m2,771.1+0.038%$325K$6.2M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,770.5+0.015%$5K$1K50xas long as short
01 Exchange ETHUSD−0.0032%1h2,770.4+0.012%$169K$1.1M50xas long as short
Phoenix ETH−0.0003%1h2,770.2+0.004%$872K$3.7M25xas long as short
dYdX ETH-USD0.0000%1h2,771.5+0.050%$12.3M$43.1M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,771.3+0.045%$22.4M—200xas long as short
Bullet ETH-USD+0.0014%1h2,770.1−0.001%$187K$1.7M20xas long as short
OKX ETH-USDT-SWAP+0.0029%8h2,769−0.039%$1.71B$11.07B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX ETH-USD+0.0037%1h2,770.8+0.026%$55.2M$187.9M40xas long as short
GMX ETH/USD [ETH-USDC]L +0.0043% / S −0.0009%1h2,770.9+0.031%$12.7M—200xas long as short
Aster ETHUSDT+0.0050%8h2,771.5+0.050%$256.3M$886.1M200xas long as short
Aevo ETH-PERP+0.0056%1h2,767.9−0.077%$5.0M$156K20xas long as short
MEXC ETH_USDT+0.0060%8h2,769.3−0.028%$1.62B$2.66B500xas long as short
Binance ETHUSDT+0.0061%8h2,768.8−0.046%$6.47B$16.25B150xas long as short
Gate ETH_USDT+0.0075%8h2,769.7−0.014%$3.38B$9.09B200xas long as short
Phemex ETHUSDTlong+0.0076%8h2,770.1long leg$269.6M$66.1M150x
Bitget ETHUSDT+0.0077%8h2,769−0.041%$2.10B$2.84B150xas long as short
Aftermath Perps ETHUSD+0.0080%1h2,770.8+0.025%$31K$21K20xas long as short
Coinbase International ETH-PERP-INTX+0.0080%1h2,771.3+0.044%$60.4M$4.42B50xas long as short
Vest ETH-PERP+0.0081%1h2,770.7+0.024%—$876K50xas long as short
HTX ETH-USDT+0.0081%8h2,769.9−0.008%$1.08B$1.24B200xas long as short
KuCoin ETHUSDTM+0.0088%8h2,769.2−0.032%$420.0M$597.6M100xas long as short
ApeX Omni ETHUSDT+0.0094%1h2,769.3−0.028%$8.6M$32.0M100xas long as short
Lighter ETH+0.0096%1h2,770.3+0.006%$115.2M$459.7M50xas long as short
Lighter RH ETH+0.0096%1h2,772+0.070%$25.6M$111.9M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,775.8+0.207%$16.0M$8.5M50xas long as short
Katana Perps ETH-USDshort+0.0100%8h2,770.6+0.019%$488K$2.7M50x
Nado ETH-PERP+0.0100%1h2,770.3+0.008%$14.6M$113.4M50xas long as short
Hyperliquid ETH+0.0100%1h2,771.4+0.048%$3.16B$2.19B25xas long as short
Pacifica ETH+0.0100%1h2,771.5+0.051%$31.2M$328.0M50xas long as short
Bybit ETHUSDT+0.0100%8h2,769.2−0.031%$2.51B$4.30B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,770.2+0.004%$2.8M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,770.8+0.025%$2.8M$16.8M25xas long as short
Bulk ETH-USD+0.0100%1h2,763.5−0.236%$172.0M$292.0M25xas long as short
BingX ETH-USDC+0.0100%8h2,769.2−0.031%—$17.3M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,769.7−0.016%$15.2M$42.0M50xas long as short
Variational Omni ETH+0.0100%8h2,768.4−0.059%$133.7M$347.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,769−0.041%$181.8M$786.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,770.3+0.007%$161.1M$84.3M50xas long as short
StandX ETH-USD+0.0100%1h2,772.2+0.077%$21.4M$64.0M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,769.9−0.006%$10.5M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,771.1+0.037%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,772.9+0.103%$42.6M$28.9M15xas long as short
SunX ETH-USDT+0.0100%8h2,770.4+0.010%$972K$12.9M100xas long as short
Extended ETH-USD+0.0104%1h2,768.4−0.060%$30.9M$75.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,773.9+0.137%—$36.1M500xas long as short
Kalshi KXETHPERP+0.0110%8h2,772.1+0.073%$8.2M$675.4M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0134%1h2,771.7+0.059%$98.0M$315.9M100xas long as short
Hibachi ETH/USDT-P+0.0152%1h2,771.2+0.041%$253K$1.5M20xas long as short
Orderly PERP_ETH_USDC+0.0156%8h2,773.5+0.122%$32.7M$11.0M100xas long as short
BloFin ETH-USDT+0.0181%8h2,770−0.003%$287.8M$178.2M150xas long as short
Deribit ETH-PERPETUAL+0.0190%1h2,772.2+0.076%$259.1M$203.0M50xas long as short
Reya ETHRUSDPERP+0.0213%1h2,769.9−0.005%$7.3M$1.1M25xas long as short