ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0144%/8h= −15.8% APRnext payment −$0.18 per $10,000 · paid last 24h −0.032%

Price spread now: Injective against Polymarket Perps−0.149%51s7-day average +0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as 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−$700.703% of the position

Long on Polymarket Perps Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.116%+$12 on $10k

Price spread, last 4 days (all we have)−0.120%−$12 · spread now −0.149%, 7d avg +0.053%

Together, before fees−0.004%$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Injective is 0.202% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of +0.053%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.116%, so the current rate has only just turned against you. The two prices were read 51 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	Polymarket Perps ETH-USD	2,746.8	0.0100	pay 0.0013% / 1h	18m 03s	$11.0M	$8.8M	50x
Short	Injective ETH/USDC PERP	2,742.7	−0.0044	pay 0.0005% / 1h	18m 03s	$118K	$22.5M	52x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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

Position, each leg$Hold fordaysFee Polymarket PerpsbpFee InjectivebpOrdersPrice spread, now −0.149%Rate

Funding earned: −$30.22
Price spread: −0.149% → +0.053%: −$20.2
Slippage, 4 orders: −$62.29
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$120.73
Costs to cover: 0.703%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 6 min ago; Injective: 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 Polymarket Perps live order book, 6 min ago	0.18 bp	4.9 bp −$5	6.3 bp −$63	13.0 bp −$1,303	doesn't fit
Sell Injective live order book, 1 min ago	14.72 bp	46.2 bp −$46	47.3 bp −$473	47.4 bp −$4,743	doesn't fit

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
Hotstuff ETH-PERP	−0.0080%	1h	2,746.2	−0.022%	$5K	$1K	50x	as long as short
Injective ETH/USDC PERPshort	−0.0044%	1h	2,742.7	−0.149%	$118K	$22.5M	52x
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,745.1	−0.063%	$12.1M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,746	−0.031%	$10.8M	$41.7M	50x	as long as short
Perpl ETH	0.0000%	43m	2,746.2	−0.021%	$305K	$5.6M	8.3x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,744.9	−0.070%	$25.1M	—	200x	as long as short
Phoenix ETH	+0.0017%	1h	2,747.9	+0.040%	$849K	$2.9M	25x	as long as short
01 Exchange ETHUSD	+0.0032%	1h	2,746.5	−0.011%	$182K	$862K	50x	as long as short
ApeX Omni ETHUSDT	+0.0033%	1h	2,747.3	+0.017%	$8.9M	$30.7M	100x	as long as short
BingX ETH-USDC	+0.0053%	8h	2,744.9	−0.068%	—	$18.4M	—	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	+0.0067%	8h	2,746.2	−0.020%	$1.70B	$10.56B	100x	as long as short
KuCoin ETHUSDTM	+0.0070%	8h	2,746.4	−0.013%	$382.1M	$575.5M	100x	as long as short
Bullet ETH-USD	+0.0073%	1h	2,745.1	−0.062%	$183K	$1.7M	20x	as long as short
RISEx ETH/USDC	+0.0077%	1h	2,746.7	−0.003%	$5.6M	$11.4M	25x	as long as short
Aster ETHUSDT	+0.0088%	8h	2,746.1	−0.026%	$254.1M	$841.1M	200x	as long as short
SoDEX ETH-USD	+0.0094%	1h	2,744.8	−0.073%	$54.7M	$187.6M	40x	as long as short
Lighter ETH	+0.0096%	1h	2,745.8	−0.037%	$113.0M	$435.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,747.2	+0.013%	$24.6M	$104.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,747	+0.007%	—	$30.5M	500x	as long as short
MEXC ETH_USDT	+0.0096%	8h	2,746.5	−0.011%	$1.56B	$2.55B	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,742.1	−0.172%	$4.9M	$154K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0096%	1h	2,747.2	+0.016%	$57.9M	$4.26B	50x	as long as short
Binance ETHUSDT	+0.0096%	8h	2,746.1	−0.027%	$6.38B	$15.67B	150x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,751	+0.152%	$16.0M	$7.9M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,746	−0.029%	$468K	$3.1M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,746.2	−0.022%	$13.9M	$104.9M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,748	+0.044%	$3.12B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,746.6	−0.007%	$31.7M	$334.5M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,746.2	−0.021%	$2.46B	$4.17B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,746.3	−0.018%	$2.7M	$16.9M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,746.6	−0.006%	$2.7M	$16.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,742.3	−0.164%	$165.2M	$299.1M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,745.8	−0.036%	$3.39B	$8.76B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,746.3	−0.018%	$2.08B	$2.72B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,745.1	−0.064%	$15.0M	$39.8M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,745.8	−0.037%	$133.3M	$326.5M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,746.2	−0.021%	$182.5M	$673.3M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,744.9	−0.070%	$159.6M	$83.9M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,746.7	−0.004%	$21.2M	$67.8M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,746.6	−0.009%	—	$815K	50x	as long as short
Polymarket Perps ETH-USDlong	+0.0100%	1h	2,746.8	long leg	$11.0M	$8.8M	50x
Derive ETH-PERP	+0.0100%	1h	2,746.3	−0.017%	$41.5M	$29.6M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,745.5	−0.047%	$963K	$11.5M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,745	−0.066%	$1.06B	$1.17B	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,745.8	−0.036%	$266.9M	$64.8M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,745.7	−0.041%	$30.7M	$72.0M	50x	as long as short
Aftermath Perps ETHUSD	+0.0128%	1h	2,745.5	−0.049%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0160%	8h	2,746.7	−0.004%	$7.8M	$670.0M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0173%	1h	2,746.6	−0.007%	$259.8M	$196.2M	50x	as long as short
Orderly PERP_ETH_USDC	+0.0193%	8h	2,746.6	−0.006%	$32.3M	$11.4M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0221%	1h	2,746.1	−0.025%	$86.6M	$310.3M	100x	as long as short
Reya ETHRUSDPERP	+0.0228%	1h	2,745.1	−0.063%	$7.3M	$1.1M	25x	as long as short
Hibachi ETH/USDT-P	+0.0256%	1h	2,746.1	−0.026%	$252K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0313%	8h	2,746	−0.029%	$285.1M	$181.2M	150x	as long as short
Bluefin ETH-PERP	+0.0558%	1h	2,745.5	−0.048%	$21K	$20K	25x	as long as short