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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 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.005%
Price spread now: SoDEX against Phemex−0.018%7-day average −0.010% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$200.204% of the position
Long on PhemexShort on SoDEX
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.008%+$1 on $10k
Price spread, last 4 days (all we have)+0.008%+$1 · spread now −0.018%, 7d avg −0.010%
Together, before fees+0.016%+$2 on $10k · with fees, hour by hour
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex ETHUSDT2,736.90.0100pay 0.0100% / 8h5h 38m$266.2M$65.0M150x
ShortSoDEX ETH-USD2,736.40.0100get 0.0013% / 1h38m 11s$54.5M$187.5M40x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

SoDEX 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
$0
Price spread: −0.018% → −0.010%
−$0.79
Slippage, 4 orders
−$0.4
Fee Phemex: 6 bp × 2 orders
−$12
Fee SoDEX: 4 bp × 2 orders
−$8
Net
−$21.19
Costs to cover
0.204%
Break-even
never at this rate
Slippage from Phemex: live order book, 6 min ago; SoDEX: live order book, 1 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, 6 min ago0.02 bp6.0 bp −$67.1 bp −$719.4 bp −$93512.7 bp −$6,337
Sell SoDEX live order book, 1 min ago0.18 bp4.2 bp −$44.3 bp −$435.8 bp −$58334.9 bp −$17.5K

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%1h2,739.4+0.092%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,743.1+0.227%$118K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,737.5+0.024%$12.0M—200xas long as short
dYdX ETH-USD0.0000%1h2,738.9+0.073%$10.8M$41.8M50xas long as short
Perpl ETH0.0000%43m2,738.8+0.069%$304K$5.6M8.3xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,737.4+0.019%$22.1M—200xas long as short
Phoenix ETH+0.0017%1h2,744.7+0.286%$846K$2.9M25xas long as short
01 Exchange ETHUSD+0.0040%1h2,737.7+0.030%$182K$916K50xas long as short
BingX ETH-USDT+0.0049%8h2,736−0.034%—$1.15B—as long as short
KuCoin ETHUSDTM+0.0063%8h2,736−0.034%$382.6M$597.3M100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0063%8h2,736−0.032%$1.70B$10.55B100xas long as short
RISEx ETH/USDC+0.0077%1h2,738.1+0.046%$5.6M$11.2M25xas long as short
Bullet ETH-USD+0.0077%1h2,737.2+0.012%$181K$1.7M20xas long as short
Aster ETHUSDT+0.0080%8h2,737+0.006%$251.8M$841.2M200xas long as short
Aevo ETH-PERP+0.0088%1h2,734.1−0.101%$4.9M$155K20xas long as short
MEXC ETH_USDT+0.0089%8h2,735.9−0.034%$1.55B$2.53B500xas long as short
Binance ETHUSDT+0.0090%8h2,736−0.033%$6.36B$15.71B150xas long as short
HTX ETH-USDT+0.0094%8h2,736.2−0.026%$1.06B$1.18B200xas long as short
Lighter ETH+0.0096%1h2,736.7−0.006%$112.5M$432.8M50xas long as short
Lighter RH ETH+0.0096%1h2,737.4+0.019%$24.6M$103.7M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,739.2+0.086%—$30.8M500xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,737+0.003%$58.5M$4.26B50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,742.8+0.216%$16.0M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,737.8+0.034%$468K$3.0M50xas long as short
Nado ETH-PERP+0.0100%1h2,738.7+0.065%$13.9M$106.1M50xas long as short
Hyperliquid ETH+0.0100%1h2,739.2+0.085%$3.11B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,739.3+0.088%$31.6M$335.1M50xas long as short
Bybit ETHUSDT+0.0100%8h2,736.1−0.029%$2.45B$4.19B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,737.4+0.019%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,738.6+0.062%$2.7M$16.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,743.5+0.243%$165.1M$304.9M25xas long as short
Gate ETH_USDT+0.0100%8h2,737.1+0.008%$3.39B$8.71B200xas long as short
Bitget ETHUSDT+0.0100%8h2,736.1−0.030%$2.08B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,735.8−0.039%$14.9M$40.9M50xas long as short
Variational Omni ETH+0.0100%8h2,736.2−0.024%$132.4M$335.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,739.2+0.086%$182.0M$689.8M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,743.5+0.242%$159.5M$82.5M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,742.5+0.204%$8.9M$31.0M100xas long as short
StandX ETH-USD+0.0100%1h2,739.5+0.096%$21.2M$68.8M40xas long as short
Vest ETH-PERP+0.0100%1h2,738.6+0.064%—$819K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,738.3+0.052%$10.9M$8.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,764.7+1.018%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,738.6+0.062%$41.4M$29.6M15xas long as short
SunX ETH-USDT+0.0100%8h2,736.4−0.018%$960K$11.5M100xas long as short
SoDEX ETH-USDshort+0.0100%1h2,736.4−0.018%$54.5M$187.5M40x
Phemex ETHUSDTlong+0.0100%8h2,736.9long leg$266.2M$65.0M150x
Extended ETH-USD+0.0104%1h2,736.2−0.025%$30.6M$72.4M50xas long as short
Deribit ETH-PERPETUAL+0.0134%1h2,738+0.040%$258.7M$196.1M50xas long as short
Aftermath Perps ETHUSD+0.0135%1h2,741.5+0.169%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0156%8h2,738.6+0.063%$7.7M$668.7M4.9xas long as short
Orderly PERP_ETH_USDC+0.0189%8h2,739.1+0.080%$32.2M$11.4M100xas long as short
BloFin ETH-USDT+0.0210%8h2,738.4+0.055%$284.3M$177.3M150xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,737+0.005%$86.9M$310.3M100xas long as short
Reya ETHRUSDPERP+0.0226%1h2,736.5−0.016%$7.2M$1.1M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,739.9+0.111%$251K$1.4M20xas long as short