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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 22:00 UTC−0.0089%/8h= −9.8% APRpaid last 24h +0.002%
Price spread now: 01 Exchange against Phemex+0.034%7-day average +0.027% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$240.243% of the position
Long on PhemexShort on 01 Exchange
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.025%−$2 on $10k
Price spread, last 3 days (all we have)+0.066%+$7 · spread now +0.034%, 7d avg +0.027%
Together, before fees+0.041%+$4 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.027%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex ETHUSDT2,766.10.0025pay 0.0025% / 8h2h 34m$266.2M$66.0M150x
Short01 Exchange ETHUSD2,767−0.0064pay 0.0008% / 1h34m 21s$171K$1.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

01 Exchange 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
−$18.76
Price spread: +0.034% → +0.027%
$0.66
Slippage, 4 orders
−$5.26
Fee Phemex: 6 bp × 2 orders
−$12
Fee 01 Exchange: 3.5 bp × 2 orders
−$7
Net
−$42.36
Costs to cover
0.243%
Break-even
never at this rate
Slippage from Phemex: live order book, 5 min ago; 01 Exchange: 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 bp6.2 bp −$66.8 bp −$689.9 bp −$99513.8 bp −$6,914
Sell 01 Exchange live order book, 5 min ago0.18 bp5.6 bp −$610.0 bp −$100doesn'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
Perpl ETH−0.0112%43m2,768.1+0.074%$289K$6.8M8.3xas long as short
Injective ETH/USDC PERP−0.0107%1h2,766.1+0.001%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,767.9+0.066%$5K$2K50xas long as short
01 Exchange ETHUSDshort−0.0064%1h2,767+0.034%$171K$1.2M50x
ApeX Omni ETHUSDT−0.0052%1h2,767.5+0.053%$8.8M$32.5M100xas long as short
Phoenix ETH−0.0023%1h2,767.2+0.041%$795K$3.7M25xas long as short
RISEx ETH/USDC−0.0011%1h2,767.4+0.049%$5.8M$11.8M25xas long as short
dYdX ETH-USD0.0000%1h2,768.8+0.100%$12.7M$45.5M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,767+0.034%$22.3M—200xas long as short
Deribit ETH-PERPETUAL+0.0007%1h2,767.6+0.055%$258.4M$224.5M50xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0016%8h2,766.5+0.015%—$17.3M—as long as short
OKX ETH-USDT-SWAP+0.0021%8h2,765.7−0.012%$1.71B$11.84B100xas long as short
Aftermath Perps ETHUSD+0.0022%1h2,767.4+0.047%$29K$21K20xas long as short
Phemex ETHUSDTlong+0.0025%8h2,766.1long leg$266.2M$66.0M150x
GMX ETH/USD [ETH-USDC]L +0.0028% / S +0.0009%1h2,766.9+0.031%$13.1M—200xas long as short
Aster ETHUSDT+0.0037%8h2,767.2+0.042%$255.8M$995.1M200xas long as short
MEXC ETH_USDT+0.0046%8h2,766.4+0.010%$1.62B$2.65B500xas long as short
Binance ETHUSDT+0.0046%8h2,766.2+0.006%$6.42B$17.20B150xas long as short
Aevo ETH-PERP+0.0048%1h2,764.1−0.071%$5.0M$636K20xas long as short
Gate ETH_USDT+0.0065%8h2,766.4+0.011%$3.28B$9.61B200xas long as short
Bitget ETHUSDT+0.0073%8h2,765.8−0.011%$2.09B$3.13B150xas long as short
Bullet ETH-USD+0.0083%1h2,766−0.003%$184K$1.8M20xas long as short
Variational Omni ETH+0.0092%8h2,764−0.074%$140.6M$319.6M—as long as short
Lighter ETH+0.0096%1h2,766.5+0.015%$115.2M$511.6M50xas long as short
Lighter RH ETH+0.0096%1h2,767.9+0.066%$25.3M$122.2M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,767.7+0.060%—$41.7M500xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,767.9+0.068%$15.9M$10.9M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,766.8+0.026%$480K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,767.7+0.060%$14.7M$116.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,768.9+0.102%$3.19B$2.38B25xas long as short
Pacifica ETH+0.0100%1h2,768.5+0.088%$31.2M$285.6M50xas long as short
Bybit ETHUSDT+0.0100%8h2,766−0.003%$2.50B$4.64B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,767.7+0.059%$2.9M$16.5M25xas long as short
Arcus ETH-USD+0.0100%1h2,769.4+0.121%$2.8M$17.5M25xas long as short
Bulk ETH-USD+0.0100%1h2,765.5−0.019%$164.9M$254.7M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,766.6+0.018%$424.3M$741.1M100xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,768.1+0.073%$15.3M$42.4M50xas long as short
edgeX ETHUSDC+0.0100%4h2,763.9−0.078%$177.7M$791.0M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,767.6+0.055%$160.9M$97.1M50xas long as short
StandX ETH-USD+0.0100%1h2,765.2−0.031%$21.4M$57.7M40xas long as short
Vest ETH-PERP+0.0100%1h2,767.3+0.046%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,768+0.070%$10.8M$7.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,767.4+0.049%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,768.6+0.093%$42.6M$29.2M15xas long as short
SunX ETH-USDT+0.0100%8h2,765.3−0.026%$970K$14.3M100xas long as short
SoDEX ETH-USD+0.0100%1h2,765.9−0.006%$55.1M$228.6M40xas long as short
HTX ETH-USDT+0.0100%8h2,766.2+0.005%$1.08B$1.32B200xas long as short
Extended ETH-USD+0.0104%1h2,765.6−0.018%$31.4M$76.1M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,767.8+0.063%$60.0M$4.62B50xas long as short
Kalshi KXETHPERP+0.0120%8h2,768.3+0.081%$8.6M$672.2M4.9xas long as short
Orderly PERP_ETH_USDC+0.0131%8h2,769.3+0.115%$32.5M$11.9M100xas long as short
BloFin ETH-USDT+0.0166%8h2,766.1+0.001%$285.7M$194.8M150xas long as short
Reya ETHRUSDPERP+0.0185%1h2,765.3−0.029%$7.5M$995K25xas long as short
Kraken Futures PF_ETHUSD+0.0241%1h2,767.3+0.045%$87.9M$329.5M100xas long as short
Hibachi ETH/USDT-P+0.0416%1h2,766.2+0.005%$280K$1.5M20xas long as short