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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 00:00 UTC−0.0066%/8h= −7.2% APRnext payment −$0.08 per $10,000 · paid last 24h +0.001%
Price spread now: Deribit against Polymarket Perps+0.026%7-day average +0.029% · you sell dearer than you buy
Net, funding: paid 7d − costs−$22as in the Funding arb table
Net, price: spread back to 7d avg − costs−$18as in the Price arb table
costs, in and out, $10k−$180.177% of the position
Long on Polymarket PerpsShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 7 days−0.045%−$5 on $10k
Price spread, last 3 days (all we have)−0.022%−$2 · spread now +0.026%, 7d avg +0.029%
Together, before fees−0.067%−$7 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.029%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPolymarket Perps ETH-USD2,777.80.0100pay 0.0013% / 1h58m 45s$10.8M$7.6M50x
ShortDeribit ETH-PERPETUAL2,778.50.0034get 0.0004% / 1h58m 45s$258.7M$222.8M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit against Polymarket Perps. 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
−$13.86
Price spread: +0.026% → +0.029%
−$0.35
Slippage, 4 orders
−$2.72
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
−$31.92
Costs to cover
0.177%
Break-even
never at this rate
Slippage from Polymarket Perps: live order book, 5 min ago; Deribit: live order book, just now.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Polymarket Perps live order book, 5 min ago0.18 bp4.4 bp −$45.0 bp −$5010.8 bp −$1,078doesn't fit
Sell Deribit live order book, just now0.09 bp5.2 bp −$56.4 bp −$6412.2 bp −$1,22222.0 bp −$11.0K

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%43m2,777.1−0.026%$288K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0206%1h2,778.6+0.028%$5.7M$11.9M25xas long as short
Injective ETH/USDC PERP−0.0088%1h2,777.3−0.018%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,777.4−0.014%$5K$2K50xas long as short
01 Exchange ETHUSD−0.0016%1h2,777.2−0.022%$169K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0004%1h2,776.8−0.036%$29K$22K20xas long as short
Bullet ETH-USD−0.0001%1h2,776.8−0.036%$181K$1.7M20xas long as short
dYdX ETH-USD0.0000%1h2,777.9+0.004%$12.7M$45.9M50xas long as short
Phoenix ETH0.0000%1h2,777.6−0.007%$881K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,777.7−0.003%$22.4M—200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0014%8h2,778.3+0.018%—$17.4M—as long as short
OKX ETH-USDT-SWAP+0.0018%8h2,778.8+0.036%$1.70B$11.88B100xas long as short
Phemex ETHUSDT+0.0022%8h2,777.1−0.025%$270.5M$68.8M150xas long as short
GMX ETH/USD [ETH-USDC]L +0.0027% / S +0.0009%1h2,777.7−0.005%$12.9M—200xas long as short
Aster ETHUSDT+0.0034%8h2,778.5+0.025%$254.9M$995.7M200xas long as short
Deribit ETH-PERPETUALshort+0.0034%1h2,778.5+0.026%$258.7M$222.8M50x
SoDEX ETH-USD+0.0042%1h2,776.9−0.032%$55.3M$229.0M40xas long as short
ApeX Omni ETHUSDT+0.0058%1h2,777.6−0.009%$8.8M$32.7M100xas long as short
MEXC ETH_USDT+0.0061%8h2,778.8+0.035%$1.60B$2.62B500xas long as short
Binance ETHUSDT+0.0061%8h2,778.5+0.024%$6.44B$17.23B150xas long as short
Bitget ETHUSDT+0.0064%8h2,778.7+0.033%$2.10B$3.10B150xas long as short
Aevo ETH-PERP+0.0064%1h2,774.5−0.119%$5.0M$636K20xas long as short
Gate ETH_USDT+0.0071%8h2,777.3−0.019%$3.30B$9.55B200xas long as short
HTX ETH-USDT+0.0087%8h2,776.6−0.043%$1.08B$1.32B200xas long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,778.1+0.011%$60.1M$4.61B50xas long as short
Bybit ETHUSDT+0.0091%8h2,778.9+0.039%$2.52B$4.63B150xas long as short
KuCoin ETHUSDTM+0.0092%8h2,777.4−0.015%$423.4M$739.5M100xas long as short
Vest ETH-PERP+0.0095%1h2,777.5−0.012%—$1.1M50xas long as short
Lighter ETH+0.0096%1h2,778.7+0.031%$115.3M$491.9M50xas long as short
Lighter RH ETH+0.0096%1h2,779.3+0.055%$25.4M$120.2M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,778.3+0.018%$16.0M$10.5M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,777.1−0.025%$477K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,776.5−0.048%$14.3M$118.2M50xas long as short
Hyperliquid ETH+0.0100%1h2,780.1+0.083%$3.19B$2.35B25xas long as short
Pacifica ETH+0.0100%1h2,779.1+0.047%$31.3M$306.5M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,777.9+0.004%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,780.1+0.082%$2.7M$17.2M25xas long as short
Bulk ETH-USD+0.0100%1h2,777.9+0.005%$168.1M$250.4M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,777.7−0.003%$15.1M$44.1M50xas long as short
Variational Omni ETH+0.0100%8h2,775.9−0.068%$147.5M$336.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,777−0.027%$181.7M$781.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,776.9−0.033%$161.5M$90.7M50xas long as short
StandX ETH-USD+0.0100%1h2,778.5+0.025%$21.5M$58.2M40xas long as short
Polymarket Perps ETH-USDlong+0.0100%1h2,777.8long leg$10.8M$7.6M50x
Bluefin ETH-PERP+0.0100%1h2,778.1+0.011%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,779.2+0.051%$42.8M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,776.9−0.034%$974K$13.9M100xas long as short
Extended ETH-USD+0.0104%1h2,778.2+0.016%$32.6M$77.5M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,777.4−0.014%—$41.8M500xas long as short
Kraken Futures PF_ETHUSD+0.0123%1h2,778.2+0.014%$86.5M$332.6M100xas long as short
Kalshi KXETHPERP+0.0125%8h2,777.80.000%$8.3M$681.6M4.9xas long as short
Orderly PERP_ETH_USDC+0.0135%8h2,779.7+0.069%$32.6M$12.0M100xas long as short
BloFin ETH-USDT+0.0181%8h2,776.8−0.037%$285.0M$195.0M150xas long as short
Reya ETHRUSDPERP+0.0196%1h2,776.4−0.050%$7.4M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0288%1h2,777.5−0.010%$270K$1.5M20xas long as short