Funding arb · Price arb / Crypto

ETH

All ETH markets →

LONGPopdex▾Kalshi −0.0151%HTX −0.0027%Bullet −0.0021%Hibachi −0.0016%dYdX 0.0000%Deribit 0.0000%Phoenix +0.0006%Gate +0.0021%GMX +0.0034%KuCoin +0.0035%SoDEX +0.0044%N1 +0.0048%SunX +0.0051%OKX +0.0054%gTrade (Gains Network) +0.0066%MEXC +0.0067%Binance +0.0068%Kraken Futures +0.0068%Phemex +0.0069%Aevo +0.0072%ApeX Omni +0.0077%Aster +0.0080%Lighter RH +0.0080%Popdex +0.0088%Bybit +0.0088%Lighter +0.0096%Avantis +0.0096%Paradex +0.0096%Katana Perps +0.0100%Nado +0.0100%Hyperliquid +0.0100%Pacifica +0.0100%Ondo Perps +0.0100%Arcus +0.0100%Bitget +0.0100%BingX +0.0100%Backpack +0.0100%Variational Omni +0.0100%edgeX +0.0100%GRVT +0.0100%StandX +0.0100%Vest Markets +0.0100%Polymarket Perps +0.0100%Reya +0.0100%Bluefin +0.0100%Derive +0.0100%Bulk +0.0100%Extended +0.0104%Jupiter Perps +0.0104%BloFin +0.0191%Orderly +0.0269%RISEx +0.0285%Aftermath Perps +0.0287%Injective +0.0369%Perpl +0.0447%

⇄⇅

SHORTCoinbase International▾Coinbase International +0.0728%Perpl +0.0447%Injective +0.0369%Aftermath Perps +0.0287%RISEx +0.0285%Orderly +0.0269%BloFin +0.0191%Extended +0.0104%Bulk +0.0100%Hyperliquid +0.0100%Pacifica +0.0100%Ondo Perps +0.0100%Arcus +0.0100%Bitget +0.0100%BingX +0.0100%Backpack +0.0100%Variational Omni +0.0100%edgeX +0.0100%GRVT +0.0100%StandX +0.0100%Vest Markets +0.0100%Polymarket Perps +0.0100%Reya +0.0100%Bluefin +0.0100%Derive +0.0100%Nado +0.0100%Katana Perps +0.0100%Paradex +0.0096%Avantis −0.0096%Lighter +0.0096%Bybit +0.0088%Lighter RH +0.0080%Aster +0.0080%ApeX Omni +0.0077%Aevo +0.0072%Phemex +0.0069%Kraken Futures +0.0068%Binance +0.0068%MEXC +0.0067%OKX +0.0054%SunX +0.0051%N1 +0.0048%SoDEX +0.0044%KuCoin +0.0035%Gate +0.0021%gTrade (Gains Network) −0.0015%Phoenix +0.0006%GMX −0.0001%dYdX 0.0000%Deribit 0.0000%Hibachi −0.0016%Bullet −0.0021%HTX −0.0027%Jupiter Perps +0.0056%Kalshi −0.0151%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	PopdexETHUSDT	2,688.5	+0.0088	pay 0.0011% / 1h	55m 41s	$4.5M	$9.4M	100x	Long Popdex
SHORT	Coinbase InternationalETH-PERP-INTX	2,696.6	+0.0728	get 0.0091% / 1h	55m 41s	$38.2M	$2.39B	50x	Short Coinbase International

Price gap+0.299%

Funding gap+0.0640% /8h

Both sides work: funding pays +$19 a day on $10k, and the gap is 0.233% above its 7d average: +$23 more if it goes back.

The current funding rate is far above what this pair has been paying: over the last 6 days it paid +0.040% in total, about +0.0022%/8h on average.

Price and funding

Price spreadPricesFundingLeg ratesP&L

1m5m15m

1h · loading 5m…

24H3D7D14D30D90D

Price spread?

Prices?

Funding?per 8h

P&L?

PRICE SPREAD · 7D

Now+0.299%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

PopdexCoinbase International

ETH on 56 exchanges

lowest funding first

Before you open

3 ok · 2 to watch

• ✓
  OK: Fits both order books3.4 / 4.7 bp

  Entry at $10k a leg, taker fee + slippage. Closing costs about the same.
• i
  Note: Margin at max leverage$100 + $200

  Popdex 100x, Coinbase International 50x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• ✓
  OK: Same payment interval1h / 1h

  Both legs pay at the same time.

  Long Popdex · 1h−$2.64

  Short Coinbase International · 1h+$21.84

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: +$19.20Long Popdex: 24 payments, −$2.64; short Coinbase International: 24 payments, +$21.84.
• ✓
  OK: Entry gap works for you+0.299% vs +0.067%

  You short the dearer leg. If the gap goes back to average, the short gains.
• !
  Watch: Long leg is thinner$4.5M vs $38.2M OI

  Popdex sets your exit cost. Check its book before closing.
• i
  Note: No points program—

  Neither exchange runs points right now.
• !
  Watch: KYCPopdex No · Coinbase International Yes

  ID and a suitability check; perps are for eligible non-US countries, not for US or UK retail.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned+0.0022%/8h × 21 periods+$4.57

Price spread+0.299% → +0.067% (7d avg)+$23.27

Slippage, 4 orderslive order books−$1.51

Fee Popdex bp × 2 orders−$6.40

Fee Coinbase International bp × 2 orders−$8.00

Net · 7 days · $10k+$11.92

Costs to cover0.159%Break-evenfrom the start

Slippage: Popdex: live order book, 2 min ago; Coinbase International: live order book, 2 min ago

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGPopdex0.193.4 bp−$33.5 bp−$354.4 bp−$4416.3 bp−$3,157

SELL · SHORTCoinbase International0.024.7 bp−$55.7 bp−$5739.6 bp−$3,963doesn’t fit

Closing costs about the same again.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

ETH news

posts that mention ETH, from every exchangeSearch all news →

09-30 09:00	KuCoin	Other	📢 World Premiere:@ConcreteXYZ (CT) Listed on #KuCoin! Concrete (CT) is the full-stack institutional operating system for on-chain finance. From crypto to RWAs, it provides the infrastructure to launch products, embed yield, and unlock new assets on-chain. 📅 Trading starts: 10:00 on September 30, 2026 (UTC) 💰 Deposits: Open Now (ETH-ERC20) 🔁 Pair: CT/USDT Details: #KuListing #CT @kucoincom on X ↗
09-30 08:00	KuCoin	Other	Think Ethereum = crypto and nothing else? Think again! Behind the price chart sits a full ecosystem — thousands of apps, from lending platforms to games, all running on ETH. @kucoincom on X ↗
09-30 06:30	KuCoin	Other	📢 World Premiere: @ConcreteXYZ (CT) Listed on #KuCoin! Concrete (CT) is the full-stack institutional operating system for on-chain finance. From crypto to RWAs, it provides the infrastructure to launch products, embed yield, and unlock new assets on-chain. 📅 Trading starts: 10:00 on September 30, 2026 (UTC) 💰 Deposits: Open Now (ETH-ERC20) 🔁 Pair: CT/USDT Details: #KuListing #CT @kucoincom on X ↗
09-30 06:00	Gate	Other	Holding $ETH? Don’t just hold it. Put it to work. Long-term ETH doesn’t have to sit idle. With Gate ETH Staking, you can earn on-chain yield while keeping the flexibility to redeem anytime. Start with as little as 0.00000001 ETH, with an indicative APY of around 4%. Your ETH can do more than wait for the next pump. Read more: @Gate on X ↗
09-30 03:58	HTX	Token	10 trades. 3 alpha setups 👀 $ETH → ETF flows strong despite the chop $NVDA → Added $150B stock buyback plan $MU → Memory cycle heats up, earnings tonight which one has your eyes? Trade TradFi 24/7 on @HTXFutures @HTX_Global on X ↗
09-29 14:58	BingX	Contest	Your next trade could come with extra rewards 😎 Share a 200,000 USDT prize pool, with up to 500 USDT per trader. New users can claim 15 USDT trading BTC, ETH or HYPE, plus daily trading rewards of 15 USDT. Join on BingX before Oct 7👇 @BingXOfficial on X ↗