ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0122%/8h= +13.4% APRnext payment +$0.15 per $10,000 · paid last 24h +0.010%

Price spread now: Kraken Futures against Polymarket Perps−0.078%7-day average −0.003% · 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−$28as in the Price arb table

costs, in and out, $10k−$210.205% of the position

Long on Polymarket Perps Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.035%+$3 on $10k

Price spread, last 4 days (all we have)+0.023%+$2 · spread now −0.078%, 7d avg −0.003%

Together, before fees+0.058%+$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.075% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.078% now, against its 7-day average of −0.003%). If the spread goes back, that is −$7 on $10k: about 2.0 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.035% in total) that is about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ETH-USD	2,735.8	0.0100	pay 0.0013% / 1h	27m 34s	$11.2M	$9.1M	50x
Short	Kraken Futures PF_ETHUSD	2,733.7	0.0222	get 0.0028% / 1h	27m 34s	$83.4M	$314.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.078%Rate

Funding earned: $25.61
Price spread: −0.078% → −0.003%: −$7.49
Slippage, 4 orders: −$2.51
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$2.38
Costs to cover: 0.205%
Break-even: 7.7 days

Slippage from Polymarket Perps: live order book, 2 min ago; Kraken Futures: 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 Polymarket Perps live order book, 2 min ago	0.18 bp	4.5 bp −$4	5.7 bp −$57	12.3 bp −$1,234	doesn't fit
Sell Kraken Futures live order book, 2 min ago	0.18 bp	5.9 bp −$6	6.7 bp −$67	9.0 bp −$899	11.5 bp −$5,773

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
Perpl ETH	−0.0447%	43m	2,735.2	−0.022%	$298K	$5.6M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,730.9	−0.179%	$117K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,733.6	−0.080%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,734	−0.068%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,735.6	−0.009%	$10.8M	$41.6M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,734.7	−0.040%	$187K	$822K	50x	as long as short
Phoenix ETH	0.0000%	1h	2,738.5	+0.099%	$831K	$2.9M	25x	as long as short
Bullet ETH-USD	+0.0006%	1h	2,733.9	−0.068%	$179K	$1.7M	20x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,733.9	−0.068%	$28.1M	—	200x	as long as short
ApeX Omni ETHUSDT	+0.0036%	1h	2,732.9	−0.105%	$8.7M	$31.3M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ETH-PERPETUAL	+0.0050%	1h	2,734.2	−0.059%	$260.1M	$196.1M	50x	as long as short
BingX ETH-USDC	+0.0056%	8h	2,734.6	−0.045%	—	$18.4M	—	as long as short
HTX ETH-USDT	+0.0059%	8h	2,732	−0.137%	$1.06B	$1.20B	200x	as long as short
KuCoin ETHUSDTM	+0.0066%	8h	2,733.8	−0.072%	$379.9M	$574.7M	100x	as long as short
Bybit ETHUSDT	+0.0067%	8h	2,735.1	−0.027%	$2.39B	$4.35B	150x	as long as short
OKX ETH-USDT-SWAP	+0.0069%	8h	2,734.8	−0.037%	$1.67B	$10.72B	100x	as long as short
Phemex ETHUSDT	+0.0069%	8h	2,732.9	−0.107%	$265.7M	$65.4M	150x	as long as short
SoDEX ETH-USD	+0.0074%	1h	2,732.7	−0.113%	$54.4M	$187.6M	40x	as long as short
Aster ETHUSDT	+0.0087%	8h	2,734.7	−0.039%	$250.9M	$843.1M	200x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,730.2	−0.206%	$4.9M	$155K	20x	as long as short
Binance ETHUSDT	+0.0094%	8h	2,735	−0.030%	$6.35B	$15.87B	150x	as long as short
MEXC ETH_USDT	+0.0095%	8h	2,735.3	−0.018%	$1.53B	$2.56B	500x	as long as short
Lighter ETH	+0.0096%	1h	2,735.3	−0.017%	$113.1M	$439.1M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,735.5	−0.010%	$23.4M	$106.3M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,734.8	−0.035%	—	$30.9M	500x	as long as short
Paradex ETH-USD-PERP	+0.0098%	8h	2,740.1	+0.157%	$15.6M	$8.0M	50x	as long as short
RISEx ETH/USDC	+0.0099%	1h	2,734.6	−0.043%	$5.5M	$11.6M	25x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,734.1	−0.062%	$500K	$3.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,735	−0.031%	$13.8M	$104.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,735.9	+0.004%	$3.10B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,735.9	+0.002%	$31.9M	$334.7M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,734.1	−0.062%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,734.8	−0.038%	$1.6M	$16.2M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,728.7	−0.261%	$166.6M	$310.3M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,735.2	−0.024%	$3.34B	$8.89B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,734.6	−0.045%	$2.07B	$2.74B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,733	−0.104%	$15.0M	$39.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,736.1	+0.011%	$133.6M	$325.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,736.5	+0.026%	$184.1M	$672.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,737.2	+0.051%	$159.2M	$86.8M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,738	+0.080%	$21.1M	$68.3M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,736.1	+0.010%	—	$843K	50x	as long as short
Polymarket Perps ETH-USDlong	+0.0100%	1h	2,735.8	long leg	$11.2M	$9.1M	50x
Bluefin ETH-PERP	+0.0100%	1h	2,733.5	−0.085%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,734.5	−0.047%	$41.3M	$29.8M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,733.3	−0.091%	$959K	$11.4M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,734.1	−0.063%	$30.3M	$72.6M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,734	−0.065%	$51.3M	$4.27B	50x	as long as short
Aftermath Perps ETHUSD	+0.0123%	1h	2,735.1	−0.025%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0143%	8h	2,734.9	−0.033%	$6.6M	$678.3M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0193%	8h	2,735.2	−0.023%	$32.2M	$11.6M	100x	as long as short
Reya ETHRUSDPERP	+0.0220%	1h	2,734.3	−0.053%	$7.3M	$1.2M	25x	as long as short
Kraken Futures PF_ETHUSDshort	+0.0222%	1h	2,733.7	−0.078%	$83.4M	$314.7M	100x
Hibachi ETH/USDT-P	+0.0248%	1h	2,739.3	+0.126%	$254K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0371%	8h	2,737.3	+0.055%	$282.5M	$175.6M	150x	as long as short