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Funding arb · Price arb /

ETH

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Alert: spread
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Funding you earn now, next payment 00:12 UTC−0.0212%/8h= −23.2% APRpaid last 24h −0.037%
Price spread now: Perpl against Polymarket Perps+0.018%7-day average +0.006% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Polymarket PerpsShort on Perpl
What this pair did over the last
the charts below follow
Funding, last 7 days+0.038%+$4 on $10k
Price spread, last 7 days−0.030%−$3 · spread now +0.018%, 7d avg +0.006%
Together, before fees+0.008%+ Points / potential airdropPerpl: Active · farm board+$1 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.006%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.038% in total (about 2.0% 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
LongPolymarket Perps ETH-USD2,7700.0100pay 0.0013% / 1h46m 26s$10.6M$8.1M50x
ShortPerpl ETH2,770.5−0.0112pay 0.0010% / 43m25m 26s$285K$6.6M8.3x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Perpl against Polymarket Perps. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$44.44
Price spread: +0.018% → +0.006%
$1.15
Slippage, 4 orders
no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Fee Perpl: 6.9 bp × 2 orders
−$13.8
Net
−$65.09
Costs to cover
0.218%
Break-even
never at this rate
Slippage unknown: Polymarket Perps: live order book, 3 min ago; Perpl: no order-book sample. Net counts fees only.

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, 3 min ago0.18 bp4.2 bp −$44.5 bp −$4512.2 bp −$1,219doesn't fit
Sell Perpl no order-book sample—————
Perpl: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Injective ETH/USDC PERP−0.0752%1h2,770.4+0.014%$119K$22.5M52xas long as short
RISEx ETH/USDC−0.0128%1h2,770.5+0.017%$5.7M$11.7M25xas long as short
Perpl ETHshort−0.0112%43m2,770.5+0.018%$285K$6.6M8.3x
Hotstuff ETH-PERP−0.0080%1h2,772.5+0.090%$5K$1K50xas long as short
01 Exchange ETHUSD−0.0032%1h2,771.2+0.043%$169K$1.1M50xas long as short
Phemex ETHUSDT−0.0026%8h2,772+0.070%$270.0M$67.8M150xas long as short
Phoenix ETH−0.0003%1h2,771.1+0.040%$878K$3.7M25xas long as short
dYdX ETH-USD0.0000%1h2,771.6+0.058%$12.7M$45.7M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,770.9+0.032%$22.4M—200xas long as short
Gate ETH_USDT+0.0020%8h2,770.6+0.021%$3.33B$8.94B200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0021%8h2,770.6+0.023%$1.71B$11.49B100xas long as short
Bullet ETH-USD+0.0021%1h2,769.7−0.011%$183K$1.7M20xas long as short
GMX ETH/USD [ETH-USDC]L +0.0025% / S +0.0009%1h2,770.6+0.023%$12.7M—200xas long as short
SoDEX ETH-USD+0.0038%1h2,771.5+0.054%$55.2M$228.8M40xas long as short
Aster ETHUSDT+0.0042%8h2,770.5+0.020%$256.5M$951.0M200xas long as short
Aftermath Perps ETHUSD+0.0043%1h2,771+0.036%$31K$23K20xas long as short
Aevo ETH-PERP+0.0056%1h2,770.8+0.028%$5.0M$165K20xas long as short
MEXC ETH_USDT+0.0057%8h2,769.9−0.004%$1.62B$2.62B500xas long as short
Binance ETHUSDT+0.0058%8h2,770.3+0.012%$6.47B$16.93B150xas long as short
HTX ETH-USDT+0.0060%8h2,771.4+0.049%$1.08B$1.30B200xas long as short
BingX ETH-USDC+0.0066%8h2,770.6+0.022%—$17.4M—as long as short
Bitget ETHUSDT+0.0068%8h2,770.8+0.029%$2.10B$2.95B150xas long as short
ApeX Omni ETHUSDT+0.0075%1h2,770.1+0.003%$8.7M$32.8M100xas long as short
Coinbase International ETH-PERP-INTX+0.0080%1h2,773.1+0.112%$60.5M$4.54B50xas long as short
KuCoin ETHUSDTM+0.0081%8h2,770.2+0.006%$420.5M$730.3M100xas long as short
Vest ETH-PERP+0.0088%1h2,770.6+0.022%—$978K50xas long as short
Lighter ETH+0.0096%1h2,771.2+0.042%$115.2M$456.5M50xas long as short
Lighter RH ETH+0.0096%1h2,772.5+0.092%$25.2M$110.0M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,770.6+0.020%$15.9M$9.6M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,770.1+0.004%$487K$2.8M50xas long as short
Nado ETH-PERP+0.0100%1h2,771.2+0.044%$14.5M$116.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,772.6+0.095%$3.17B$2.30B25xas long as short
Pacifica ETH+0.0100%1h2,771.8+0.064%$31.2M$322.6M50xas long as short
Bybit ETHUSDT+0.0100%8h2,770.9+0.031%$2.51B$4.53B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,770.9+0.032%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,771.3+0.047%$2.8M$17.2M25xas long as short
Bulk ETH-USD+0.0100%1h2,769.9−0.002%$170.3M$272.1M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,772.7+0.096%$15.3M$42.6M50xas long as short
Variational Omni ETH+0.0100%8h2,770.3+0.010%$151.3M$342.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,768.8−0.042%$181.8M$786.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,770.2+0.009%$161.1M$86.9M50xas long as short
StandX ETH-USD+0.0100%1h2,770.3+0.011%$21.4M$59.1M40xas long as short
Polymarket Perps ETH-USDlong+0.0100%1h2,770long leg$10.6M$8.1M50x
Bluefin ETH-PERP+0.0100%1h2,771.1+0.041%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,772.7+0.099%$42.6M$29.3M15xas long as short
SunX ETH-USDT+0.0100%8h2,769.8−0.009%$972K$13.7M100xas long as short
Kalshi KXETHPERP+0.0100%8h2,771.6+0.058%$8.2M$688.7M4.9xas long as short
Extended ETH-USD+0.0104%1h2,770+0.001%$32.5M$74.5M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,771.4+0.052%—$38.9M500xas long as short
Kraken Futures PF_ETHUSD+0.0134%1h2,773.2+0.116%$93.4M$331.5M100xas long as short
Orderly PERP_ETH_USDC+0.0147%8h2,773.4+0.124%$32.6M$11.7M100xas long as short
Hibachi ETH/USDT-P+0.0168%1h2,772+0.074%$252K$1.5M20xas long as short
BloFin ETH-USDT+0.0178%8h2,771.8+0.066%$287.6M$190.5M150xas long as short
Deribit ETH-PERPETUAL+0.0208%1h2,773.1+0.112%$259.1M$216.5M50xas long as short
Reya ETHRUSDPERP+0.0208%1h2,769.8−0.009%$7.3M$1.2M25xas long as short