ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0003%/8h= +0.3% APRnext payment +$0.00 per $10,000 · paid last 24h +0.035%

Price spread now: dYdX against Phoenix−0.015%106s7-day average −0.098% · you buy dearer than you sell

Net, funding: paid 7d − costs−$17as 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−$260.264% of the position

Long on Phoenix Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.094%+$9 on $10k

Price spread, last 7 days+0.010%+$1 · spread now −0.015%, 7d avg −0.098%

Together, before fees+0.104%+$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: dYdX is 0.084% dearer against Phoenix than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.098%. The two prices were read 106 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	2,771.8	−0.0003	get 0.0000% / 1h	41m 49s	$878K	$3.7M	25x
Short	dYdX ETH-USD	2,771.4	0	get 0.0000% / 1h	41m 49s	$12.2M	$46.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.015%Rate

Funding earned: $0.61
Price spread: −0.015% → −0.098%: $8.38
Slippage, 4 orders: −$9.44
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$17.46
Costs to cover: 0.264%
Break-even: 208.9 days

Slippage from Phoenix: live order book, 2 min ago; dYdX: live order book, 2 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, 2 min ago	0.18 bp	3.8 bp −$4	7.2 bp −$72	20.2 bp −$2,021	doesn't fit
Sell dYdX live order book, 2 min ago	4.15 bp	9.1 bp −$9	15.0 bp −$150	25.7 bp −$2,569	39.3 bp −$19.7K

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
Injective ETH/USDC PERP	−0.0752%	1h	2,770.4	−0.051%	$119K	$22.5M	52x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,774.1	+0.084%	$5.7M	$11.4M	25x	as long as short
Perpl ETH	−0.0112%	43m	2,773.8	+0.070%	$301K	$6.5M	8.3x	as long as short
Phemex ETHUSDT	−0.0098%	8h	2,774.1	+0.083%	$270.1M	$67.6M	150x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,774.5	+0.097%	$5K	$1K	50x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,774.5	+0.097%	$169K	$1.1M	50x	as long as short
Phoenix ETHlong	−0.0003%	1h	2,771.8	long leg	$878K	$3.7M	25x
dYdX ETH-USDshort	0.0000%	1h	2,771.4	−0.015%	$12.2M	$46.0M	50x
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,775	+0.115%	$22.4M	—	200x	as long as short
Bullet ETH-USD	+0.0020%	1h	2,774.1	+0.083%	$183K	$1.7M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0022%	8h	2,770.7	−0.039%	$1.71B	$11.36B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0025% / S +0.0009%	1h	2,774.7	+0.105%	$12.7M	—	200x	as long as short
Gate ETH_USDT	+0.0033%	8h	2,772.5	+0.023%	$3.35B	$8.95B	200x	as long as short
Aster ETHUSDT	+0.0043%	8h	2,772.5	+0.026%	$256.9M	$899.1M	200x	as long as short
SoDEX ETH-USD	+0.0044%	1h	2,774.3	+0.090%	$55.3M	$208.4M	40x	as long as short
Aftermath Perps ETHUSD	+0.0048%	1h	2,772.9	+0.039%	$31K	$23K	20x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,771.8	0.000%	$5.0M	$165K	20x	as long as short
MEXC ETH_USDT	+0.0058%	8h	2,772.1	+0.012%	$1.63B	$2.63B	500x	as long as short
Binance ETHUSDT	+0.0058%	8h	2,770.8	−0.036%	$6.47B	$16.57B	150x	as long as short
Bitget ETHUSDT	+0.0069%	8h	2,772.4	+0.020%	$2.10B	$2.92B	150x	as long as short
HTX ETH-USDT	+0.0074%	8h	2,773.9	+0.074%	$1.08B	$1.27B	200x	as long as short
ApeX Omni ETHUSDT	+0.0079%	1h	2,772.6	+0.030%	$8.7M	$32.4M	100x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,775.5	+0.134%	$60.4M	$4.50B	50x	as long as short
KuCoin ETHUSDTM	+0.0081%	8h	2,772.4	+0.023%	$420.6M	$643.6M	100x	as long as short
Vest ETH-PERP	+0.0086%	1h	2,774.2	+0.086%	—	$881K	50x	as long as short
Lighter ETH	+0.0096%	1h	2,771.4	−0.015%	$115.2M	$456.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,773.9	+0.076%	$25.3M	$110.1M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,773.5	+0.062%	$15.9M	$9.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,774.2	+0.087%	$487K	$2.8M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,774.2	+0.087%	$14.9M	$116.2M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,774.9	+0.113%	$3.17B	$2.31B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,774.3	+0.090%	$31.2M	$322.6M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,770.9	−0.034%	$2.50B	$4.44B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,773.6	+0.065%	$2.8M	$17.0M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,775	+0.116%	$2.8M	$17.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,769.9	−0.067%	$170.3M	$272.1M	25x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,772.5	+0.024%	—	$1.22B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,774.1	+0.084%	$15.2M	$42.2M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,770.3	−0.055%	$151.3M	$342.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,771.4	−0.016%	$181.9M	$787.0M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,772.4	+0.023%	$161.2M	$86.8M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,772.6	+0.029%	$21.4M	$59.4M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,774.4	+0.094%	$10.6M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,774.5	+0.099%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,776.3	+0.162%	$42.7M	$29.0M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,773.8	+0.073%	$972K	$13.4M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,771.6	−0.007%	$32.5M	$73.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,775	+0.114%	—	$38.3M	500x	as long as short
Kalshi KXETHPERP	+0.0105%	8h	2,774.7	+0.105%	$8.1M	$686.6M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0128%	1h	2,775.7	+0.141%	$259.1M	$210.9M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,775.7	+0.142%	$93.4M	$323.0M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0148%	8h	2,777.2	+0.196%	$32.7M	$11.6M	100x	as long as short
Hibachi ETH/USDT-P	+0.0160%	1h	2,775.3	+0.127%	$253K	$1.5M	20x	as long as short
BloFin ETH-USDT	+0.0179%	8h	2,774.3	+0.091%	$287.9M	$188.1M	150x	as long as short
Reya ETHRUSDPERP	+0.0209%	1h	2,774.1	+0.082%	$7.4M	$1.2M	25x	as long as short