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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 07:00 UTC+0.0009%/8h= +1.0% APRpaid last 24h +0.015%
Price spread now: Pacifica against Phemex+0.041%7-day average +0.025% · you sell dearer than you buy
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$200.204% of the position
Long on PhemexShort on Pacifica
What this pair did over the last
the charts below follow
Funding, last 7 days+0.055%+$5 on $10k
Price spread, last 4 days (all we have)−0.006%−$1 · spread now +0.041%, 7d avg +0.025%
Together, before fees+0.048%+ Points / potential airdropPacifica: Active · farm board+$5 on $10k · with fees, hour by hour
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex ETHUSDT2,730.80.0091pay 0.0091% / 8h1h 03m$262.9M$64.5M150x
ShortPacifica ETH2,731.90.0100get 0.0013% / 1h3m 46s$32.0M$332.9M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Pacifica 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
$1.82
Price spread: +0.041% → +0.025%
$1.64
Slippage, 4 orders
−$0.4
Fee Phemex: 6 bp × 2 orders
−$12
Fee Pacifica: 4 bp × 2 orders
−$8
Net
−$16.94
Costs to cover
0.204%
Break-even
72.1 days
Slippage from Phemex: live order book, 5 min ago; Pacifica: live order book, 5 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, 5 min ago0.02 bp6.0 bp −$67.9 bp −$7910.3 bp −$1,02813.1 bp −$6,549
Sell Pacifica live order book, 5 min ago0.18 bp4.2 bp −$44.3 bp −$43doesn't fitdoesn't fit

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
Hotstuff ETH-PERP−0.0080%1h2,734.8+0.146%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0040%1h2,734.2+0.124%$117K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,731.2+0.012%$11.9M—200xas long as short
Phoenix ETH−0.0006%1h2,734.4+0.131%$814K$3.0M25xas long as short
dYdX ETH-USD0.0000%1h2,731.3+0.016%$10.5M$42.8M50xas long as short
Kalshi KXETHPERP0.0000%8h2,731.8+0.036%$6.6M$682.3M4.9xas long as short
Perpl ETH0.0000%43m2,731.6+0.029%$288K$5.8M8.3xas long as short
Deribit ETH-PERPETUAL0.0000%1h2,731.7+0.034%$262.5M$213.2M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,731.2+0.012%$33.0M—200xas long as short
01 Exchange ETHUSD+0.0016%1h2,731.6+0.029%$191K$890K50xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDT+0.0022%8h2,730.9+0.004%—$1.10B—as long as short
ApeX Omni ETHUSDT+0.0025%1h2,731.9+0.041%$8.6M$31.5M100xas long as short
Bybit ETHUSDT+0.0027%8h2,730.6−0.010%$2.33B$4.38B150xas long as short
HTX ETH-USDT+0.0029%8h2,731+0.008%$1.05B$1.22B200xas long as short
KuCoin ETHUSDTM+0.0068%8h2,731.2+0.014%$385.9M$576.7M100xas long as short
SoDEX ETH-USD+0.0071%1h2,730.6−0.008%$54.4M$187.2M40xas long as short
OKX ETH-USDT-SWAP+0.0080%8h2,730.5−0.012%$1.65B$10.86B100xas long as short
Aster ETHUSDT+0.0082%8h2,730.9+0.003%$253.0M$846.8M200xas long as short
Phemex ETHUSDTlong+0.0091%8h2,730.8long leg$262.9M$64.5M150x
Bullet ETH-USD+0.0091%1h2,730.7−0.004%$188K$1.7M20xas long as short
Binance ETHUSDT+0.0094%8h2,730.7−0.004%$6.33B$16.11B150xas long as short
MEXC ETH_USDT+0.0095%8h2,730.7−0.003%$1.54B$2.61B500xas long as short
Lighter ETH+0.0096%1h2,731.5+0.025%$112.7M$439.3M50xas long as short
Lighter RH ETH+0.0096%1h2,732.5+0.062%$23.5M$103.5M50xas long as short
Aevo ETH-PERP+0.0096%1h2,728.5−0.085%$4.9M$171K20xas long as short
Katana Perps ETH-USD+0.0100%8h2,730.8−0.001%$502K$3.5M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,734.8+0.145%$15.4M$7.9M50xas long as short
Nado ETH-PERP+0.0100%1h2,731.3+0.017%$14.2M$104.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,733.4+0.094%$3.11B$2.04B25xas long as short
Pacifica ETHshort+0.0100%1h2,731.9+0.041%$32.0M$332.9M50x
Ondo Perps ETH-USD.P+0.0100%1h2,731.3+0.018%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,731.8+0.037%$1.5M$16.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,731.8+0.036%$164.2M$349.6M25xas long as short
Gate ETH_USDT+0.0100%8h2,731.1+0.012%$3.31B$9.05B200xas long as short
Bitget ETHUSDT+0.0100%8h2,731.1+0.011%$2.10B$2.77B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,731.1+0.010%$15.1M$41.7M50xas long as short
Variational Omni ETH+0.0100%8h2,732.5+0.063%$134.3M$320.4M—as long as short
edgeX ETHUSDC+0.0100%4h2,731.3+0.018%$185.7M$682.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,732.6+0.066%$158.8M$84.8M50xas long as short
StandX ETH-USD+0.0100%1h2,733.5+0.098%$21.0M$70.3M40xas long as short
Vest ETH-PERP+0.0100%1h2,732.8+0.074%—$445K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,732+0.043%$11.2M$9.5M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,731.9+0.039%$22K$21K25xas long as short
Derive ETH-PERP+0.0100%1h2,732.6+0.066%$40.9M$30.1M15xas long as short
SunX ETH-USDT+0.0100%8h2,730.5−0.011%$957K$10.9M100xas long as short
Aftermath Perps ETHUSD+0.0102%1h2,733.1+0.082%$30K$20K20xas long as short
Extended ETH-USD+0.0104%1h2,730.1−0.027%$30.4M$72.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0056%1h2,731.9+0.041%—$30.5M500xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,731.8+0.037%$46.5M$4.31B50xas long as short
RISEx ETH/USDC+0.0115%1h2,731.7+0.032%$5.6M$11.6M25xas long as short
Hibachi ETH/USDT-P+0.0128%1h2,734.7+0.140%$243K$1.4M20xas long as short
Orderly PERP_ETH_USDC+0.0185%8h2,732.9+0.078%$32.2M$11.3M100xas long as short
Reya ETHRUSDPERP+0.0187%1h2,729.9−0.032%$7.3M$975K25xas long as short
Kraken Futures PF_ETHUSD+0.0211%1h2,731.1+0.010%$82.1M$309.7M100xas long as short
BloFin ETH-USDT+0.0359%8h2,731.7+0.031%$281.4M$176.1M150xas long as short