Settings8H · net · $10k
FundingCostsSizeExchangesMy alerts
Funding arb · Price arb /

ETH

all ETH markets
SwapBacktest
Alert: funding
Measured
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 20:00 UTC+0.0198%/8h= +21.6% APRpaid last 24h +0.040%
Price spread now: BloFin against Phoenix−0.030%7-day average −0.078% · you buy dearer than you sell
Net, funding: paid 7d − costs−$7as in the Funding arb table
Net, price: spread back to 7d avg − costs−$15as in the Price arb table
costs, in and out, $10k−$200.202% of the position
Long on PhoenixShort on BloFin
What this pair did over the last
the charts below follow
Funding, last 7 days+0.134%+$13 on $10k
Price spread, last 3 days (all we have)−0.470%−$47 · spread now −0.030%, 7d avg −0.078%
Together, before fees−0.336%−$34 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and BloFin is 0.049% dearer against Phoenix than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.078%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.134% in total (about 7.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix ETH2,776.7−0.0032get 0.0004% / 1h56m 33s$794K$3.7M25x
ShortBloFin ETH-USDT2,775.90.0166get 0.0166% / 8h2h 56m$287.4M$197.8M150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BloFin 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

Funding earned
$41.48
Price spread: −0.030% → −0.078%
$4.88
Slippage, 4 orders
−$1.23
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee BloFin: 6 bp × 2 orders
−$12
Net
$26.12
Costs to cover
0.202%
Break-even
2.6 days
Slippage from Phoenix: live order book, 2 min ago; BloFin: live order book, 3 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 Phoenix live order book, 2 min ago0.18 bp4.3 bp −$48.5 bp −$8521.2 bp −$2,118doesn't fit
Sell BloFin live order book, 3 min ago0.04 bp6.1 bp −$66.1 bp −$616.3 bp −$6357.2 bp −$3,615

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−0.0447%43m2,774.1−0.095%$290K$6.9M8.3xas long as short
Injective ETH/USDC PERP−0.0107%1h2,773.8−0.104%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,776.1−0.022%$5K$2K50xas long as short
01 Exchange ETHUSD−0.0048%1h2,772.9−0.137%$172K$1.2M50xas long as short
Phoenix ETHlong−0.0032%1h2,776.7long leg$794K$3.7M25x
RISEx ETH/USDC−0.0011%1h2,773−0.132%$5.8M$12.0M25xas long as short
dYdX ETH-USD0.0000%1h2,775.9−0.030%$13.0M$45.3M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,774.8−0.068%$22.4M—200xas long as short
Phemex ETHUSDT+0.0013%8h2,776.8+0.002%$267.3M$66.0M150xas long as short
OKX ETH-USDT-SWAP+0.0022%8h2,772.9−0.138%$1.71B$11.92B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX ETH-USD+0.0025%1h2,776.1−0.022%$55.3M$228.5M40xas long as short
Aftermath Perps ETHUSD+0.0027%1h2,780.1+0.123%$29K$22K20xas long as short
GMX ETH/USD [ETH-USDC]L +0.0027% / S +0.0009%1h2,776.3−0.016%$13.0M—200xas long as short
Binance ETHUSDT+0.0044%8h2,772.5−0.150%$6.45B$17.35B150xas long as short
MEXC ETH_USDT+0.0045%8h2,773.1−0.129%$1.61B$2.61B500xas long as short
Aster ETHUSDT+0.0047%8h2,774.6−0.076%$256.4M$1.00B200xas long as short
Aevo ETH-PERP+0.0048%1h2,775.2−0.054%$5.0M$636K20xas long as short
Gate ETH_USDT+0.0053%8h2,773.5−0.115%$3.29B$9.51B200xas long as short
ApeX Omni ETHUSDT+0.0054%1h2,780.8+0.149%$10.5M$30.9M100xas long as short
Bitget ETHUSDT+0.0074%8h2,773.1−0.130%$2.09B$3.14B150xas long as short
Bullet ETH-USD+0.0080%1h2,773.8−0.105%$188K$1.8M20xas long as short
Variational Omni ETH+0.0093%8h2,785.4+0.314%$141.2M$320.4M—as long as short
Lighter ETH+0.0096%1h2,776−0.025%$115.4M$506.0M50xas long as short
Lighter RH ETH+0.0096%1h2,777.2+0.019%$25.5M$121.3M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,776.4−0.010%—$46.4M500xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,775.5−0.042%$15.9M$11.1M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,773.6−0.112%$493K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,772.5−0.150%$16.3M$115.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,776−0.025%$3.20B$2.41B25xas long as short
Pacifica ETH+0.0100%1h2,775.6−0.040%$31.2M$281.2M50xas long as short
Bybit ETHUSDT+0.0100%8h2,772.9−0.137%$2.51B$4.67B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,773.7−0.108%$2.9M$16.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,775.2−0.055%$2.8M$17.7M25xas long as short
Bulk ETH-USD+0.0100%1h2,780.5+0.137%$165.0M$263.0M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,773.3−0.124%$426.8M$750.0M100xas long as short
BingX ETH-USDC+0.0100%8h2,773.4−0.120%—$17.3M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,777.6+0.033%$15.4M$42.5M50xas long as short
edgeX ETHUSDC+0.0100%4h2,782+0.190%$177.9M$785.4M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,780.7+0.145%$161.8M$98.4M50xas long as short
StandX ETH-USD+0.0100%1h2,776.9+0.007%$21.4M$57.4M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,774.9−0.065%$10.8M$7.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,776.1−0.022%$21K$25K25xas long as short
SunX ETH-USDT+0.0100%8h2,775.5−0.044%$973K$14.4M100xas long as short
HTX ETH-USDT+0.0100%8h2,775.3−0.051%$1.08B$1.32B200xas long as short
Vest ETH-PERP+0.0100%1h2,774.8−0.070%—$1.1M50xas long as short
Extended ETH-USD+0.0104%1h2,773.3−0.124%$31.7M$76.7M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,777.8+0.039%$60.4M$4.67B50xas long as short
Kalshi KXETHPERP+0.0110%8h2,776.4−0.011%$8.6M$673.1M4.9xas long as short
Derive ETH-PERP+0.0115%1h2,778.5+0.064%$43.0M$30.0M15xas long as short
Orderly PERP_ETH_USDC+0.0127%8h2,778.8+0.074%$32.6M$11.7M100xas long as short
Deribit ETH-PERPETUAL+0.0146%1h2,778.2+0.053%$258.9M$224.3M50xas long as short
BloFin ETH-USDTshort+0.0166%8h2,775.9−0.030%$287.4M$197.8M150x
Reya ETHRUSDPERP+0.0194%1h2,772.5−0.151%$7.5M$998K25xas long as short
Kraken Futures PF_ETHUSD+0.0240%1h2,777.8+0.039%$88.7M$333.5M100xas long as short
Hibachi ETH/USDT-P+0.0344%1h2,778.2+0.056%$274K$1.5M20xas long as short