ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0021%/8h= −2.3% APRnext payment −$0.03 per $10,000 · paid last 24h +0.012%

Price spread now: ApeX Omni against Phoenix−0.017%116s7-day average −0.087% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$190.186% of the position

Long on Phoenix Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.141%−$14 on $10k

Price spread, last 7 days−0.084%−$8 · spread now −0.017%, 7d avg −0.087%

Together, before fees−0.225%−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.070% dearer against Phoenix than usual: you sell high and buy low (spread −0.017% now, against its 7-day average of −0.087%): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 11 days. At the pace of the last 7 days (−0.141% in total) that is about 3.4 days. The two prices were read 116 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix ETH	2,741.7	−0.0009	get 0.0001% / 1h	31m 35s	$820K	$2.8M	25x
Short	ApeX Omni ETHUSDT	2,741.2	−0.0030	pay 0.0004% / 1h	31m 35s	$8.2M	$25.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Phoenix. 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 PhoenixbpFee ApeX OmnibpOrdersPrice spread, now −0.017%Rate

Funding earned: −$4.42
Price spread: −0.017% → −0.087%: $6.95
Slippage, 4 orders: −$1.59
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$16.06
Costs to cover: 0.186%
Break-even: never at this rate

Slippage from Phoenix: live order book, 10 min ago; ApeX Omni: live order book, 1 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 Phoenix live order book, 10 min ago	0.18 bp	4.2 bp −$4	7.7 bp −$77	21.0 bp −$2,102	doesn't fit
Sell ApeX Omni live order book, 1 min ago	0.05 bp	5.1 bp −$5	6.2 bp −$62	23.0 bp −$2,303	80.5 bp −$40.2K

ETH on 54 exchanges

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
Hibachi ETH/USDT-P	−0.0088%	1h	2,741.6	−0.003%	$234K	$1.2M	20x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,746.6	+0.179%	$5K	$1K	50x	as long as short
ApeX Omni ETHUSDTshort	−0.0030%	1h	2,741.2	−0.017%	$8.2M	$25.2M	100x
GMX ETH/USD [ETH-USDC]	L −0.0009% / S +0.0043%	1h	2,741.1	−0.023%	$12.2M	—	200x	as long as short
Phoenix ETHlong	−0.0009%	1h	2,741.7	long leg	$820K	$2.8M	25x
Kalshi KXETHPERP	0.0000%	8h	2,740.8	−0.033%	$7.1M	$660.3M	4.9x	as long as short
Perpl ETH	0.0000%	43m	2,739.6	−0.078%	$268K	$5.0M	8.3x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,739.9	−0.067%	$33.1M	—	200x	as long as short
Bybit ETHUSDT	+0.0030%	8h	2,739.1	−0.096%	$2.36B	$3.81B	150x	as long as short
01 Exchange ETHUSD	+0.0056%	1h	2,739.6	−0.077%	$182K	$911K	50x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0067%	8h	2,739.2	−0.092%	$1.67B	$9.17B	100x	as long as short
Aster ETHUSDT	+0.0084%	8h	2,739.2	−0.092%	$257.5M	$716.3M	200x	as long as short
MEXC ETH_USDT	+0.0088%	8h	2,739	−0.099%	$1.59B	$2.36B	500x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,739	−0.099%	$4.9M	$228K	20x	as long as short
Binance ETHUSDT	+0.0089%	8h	2,739.2	−0.091%	$6.39B	$13.96B	150x	as long as short
Deribit ETH-PERPETUAL	+0.0089%	1h	2,741.3	−0.016%	$267.0M	$183.4M	50x	as long as short
KuCoin ETHUSDTM	+0.0090%	8h	2,739	−0.100%	$362.9M	$437.7M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,739.4	−0.083%	$113.8M	$387.1M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,740.6	−0.042%	$23.6M	$95.2M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,741.3	−0.015%	—	$23.6M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0096%	1h	2,740.8	−0.034%	$46.0M	$3.88B	50x	as long as short
Gate ETH_USDT	+0.0097%	8h	2,739.1	−0.097%	$3.26B	$7.74B	200x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,738.4	−0.120%	$511K	$3.5M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,739.5	−0.079%	$14.6M	$94.3M	50x	as long as short
Pacifica ETH	+0.0100%	1h	2,740.1	−0.059%	$32.2M	$322.4M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,739.1	−0.095%	$2.8M	$14.1M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,740.2	−0.057%	$1.5M	$14.1M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,738.8	−0.105%	$2.10B	$2.29B	150x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,738.5	−0.117%	—	$18.4M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,738.7	−0.108%	$14.9M	$35.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,743.2	+0.056%	$132.5M	$283.6M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,739	−0.098%	$184.3M	$579.0M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,741.1	−0.022%	$159.4M	$69.7M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,740.3	−0.051%	$21.0M	$75.7M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,740.6	−0.041%	—	$337K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,741.6	−0.004%	$11.2M	$8.6M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,740.2	−0.055%	$176K	$1.7M	20x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,740	−0.061%	$944K	$8.5M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,740	−0.062%	$61.7M	$121.7M	40x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,739.8	−0.071%	$1.05B	$1.03B	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,739.9	−0.066%	$263.0M	$56.3M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,744.4	+0.100%	$164.0M	$319.7M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,738	−0.137%	$30.2M	$64.8M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0105%	1h	2,740.5	−0.043%	$82.3M	$271.5M	100x	as long as short
Aftermath Perps ETHUSD	+0.0112%	1h	2,743.3	+0.058%	$30K	$8K	20x	as long as short
dYdX ETH-USD	+0.0142%	1h	2,740.8	−0.033%	$15.2M	$42.7M	50x	as long as short
Reya ETHRUSDPERP	+0.0153%	1h	2,740.1	−0.060%	$7.3M	$832K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0178%	8h	2,741.9	+0.007%	$32.4M	$9.9M	100x	as long as short
RISEx ETH/USDC	+0.0206%	1h	2,741.1	−0.022%	$5.7M	$10.5M	25x	as long as short
Bluefin ETH-PERP	+0.0211%	1h	2,739.7	−0.072%	$20K	$13K	25x	as long as short
Hyperliquid ETH	+0.0231%	1h	2,742.3	+0.022%	$3.14B	$1.72B	25x	as long as short
BloFin ETH-USDT	+0.0361%	8h	2,741	−0.027%	$284.6M	$148.5M	150x	as long as short
Injective ETH/USDC PERP	+0.0461%	1h	2,743.8	+0.077%	$322K	$23.7M	52x	as long as short
Paradex ETH-USD-PERP	+0.0590%	8h	2,742.4	+0.027%	$15.9M	$6.2M	50x	as long as short