ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0022%/8h= +2.4% APRnext payment +$0.22 per $10,000 · paid last 24h +0.015%

Price spread now: SunX against Phemex−0.057%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$880.880% of the position

Long on Phemex Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.106%+$11 on $10k

Price spread, last 4 days (all we have)+0.008%+$1 · spread now −0.057%, 7d avg −0.017%

Together, before fees+0.114%+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.040% cheaper against Phemex than usual: you would sell low and buy high (spread −0.057% now, against its 7-day average of −0.017%). If the spread goes back, that is −$4 on $10k: about 6.0 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.106% in total) that is about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ETHUSDT	2,738.6	0.0078	pay 0.0078% / 8h	4h 00m	$266.1M	$65.0M	150x
Short	SunX ETH-USDT	2,737.1	0.0100	get 0.0100% / 8h	4h 00m	$961K	$11.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.057%Rate

Funding earned: $4.63
Price spread: −0.057% → −0.017%: −$3.97
Slippage, 4 orders: −$67.97
Fee Phemex: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$87.3
Costs to cover: 0.880%
Break-even: 139.0 days

Slippage from Phemex: live order book, 3 min ago; SunX: live order book, 8 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, 3 min ago	0.02 bp	6.2 bp −$6	7.1 bp −$71	9.4 bp −$940	13.1 bp −$6,569
Sell SunX live order book, 8 min ago	5.60 bp	36.5 bp −$37	doesn't fit	doesn't fit	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	2,737.9	−0.027%	$297K	$5.6M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,734.2	−0.161%	$117K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,737.2	−0.052%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,737.7	−0.033%	$11.9M	—	200x	as long as short
Phoenix ETH	0.0000%	1h	2,737.3	−0.048%	$827K	$2.9M	25x	as long as short
dYdX ETH-USD	+0.0001%	1h	2,738.2	−0.017%	$10.7M	$41.9M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,737.9	−0.028%	$28.1M	—	200x	as long as short
01 Exchange ETHUSD	+0.0008%	1h	2,738.5	−0.004%	$187K	$822K	50x	as long as short
Bullet ETH-USD	+0.0015%	1h	2,737.5	−0.043%	$179K	$1.7M	20x	as long as short
HTX ETH-USDT	+0.0022%	8h	2,737.5	−0.040%	$1.06B	$1.20B	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDC	+0.0044%	8h	2,738.3	−0.011%	—	$18.4M	—	as long as short
Bybit ETHUSDT	+0.0054%	8h	2,738.1	−0.020%	$2.38B	$4.35B	150x	as long as short
ApeX Omni ETHUSDT	+0.0064%	1h	2,736.1	−0.092%	$8.7M	$31.3M	100x	as long as short
KuCoin ETHUSDTM	+0.0068%	8h	2,738	−0.024%	$380.2M	$573.4M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0075%	8h	2,738.3	−0.013%	$1.67B	$10.73B	100x	as long as short
Phemex ETHUSDTlong	+0.0078%	8h	2,738.6	long leg	$266.1M	$65.0M	150x
Aster ETHUSDT	+0.0089%	8h	2,738.2	−0.015%	$251.1M	$842.0M	200x	as long as short
MEXC ETH_USDT	+0.0095%	8h	2,738.4	−0.008%	$1.55B	$2.57B	500x	as long as short
Lighter ETH	+0.0096%	1h	2,738.7	+0.003%	$113.1M	$442.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,739.5	+0.034%	$23.5M	$106.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,737.5	−0.040%	—	$31.0M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,734.9	−0.134%	$4.9M	$155K	20x	as long as short
Binance ETHUSDT	+0.0097%	8h	2,738.3	−0.013%	$6.36B	$15.89B	150x	as long as short
RISEx ETH/USDC	+0.0099%	1h	2,738.9	+0.009%	$5.7M	$11.7M	25x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,741.6	+0.110%	$15.6M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,737.9	−0.026%	$501K	$3.3M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,737.9	−0.027%	$13.6M	$104.4M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,740.3	+0.061%	$3.11B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,738.7	+0.003%	$32.0M	$335.0M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,736.8	−0.066%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,738.7	+0.002%	$1.6M	$16.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,733.7	−0.181%	$169.4M	$313.3M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,738.3	−0.013%	$3.34B	$8.94B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,738.3	−0.011%	$2.07B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,737.7	−0.035%	$15.1M	$40.1M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,737.3	−0.048%	$134.0M	$324.5M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,735.2	−0.125%	$184.0M	$671.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,736.6	−0.074%	$159.2M	$86.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,736.2	−0.088%	$21.1M	$68.3M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,738.5	−0.004%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,739.2	+0.021%	$11.2M	$9.3M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,737.9	−0.026%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,739.5	+0.032%	$41.3M	$29.8M	15x	as long as short
SunX ETH-USDTshort	+0.0100%	8h	2,737.1	−0.057%	$961K	$11.3M	100x
SoDEX ETH-USD	+0.0100%	1h	2,737.7	−0.034%	$54.5M	$187.6M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,737.6	−0.037%	$30.4M	$72.9M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,739.2	+0.021%	$51.4M	$4.27B	50x	as long as short
Aftermath Perps ETHUSD	+0.0115%	1h	2,735.4	−0.118%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0129%	8h	2,738	−0.023%	$6.7M	$679.1M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0198%	8h	2,740.2	+0.059%	$32.2M	$11.7M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0207%	1h	2,739.4	+0.030%	$260.1M	$197.0M	50x	as long as short
Reya ETHRUSDPERP	+0.0216%	1h	2,737	−0.060%	$7.3M	$1.2M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0222%	1h	2,738.6	−0.002%	$83.3M	$314.8M	100x	as long as short
Hibachi ETH/USDT-P	+0.0280%	1h	2,737.6	−0.036%	$249K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0387%	8h	2,737.2	−0.051%	$283.5M	$175.9M	150x	as long as short