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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 05:00 UTC−0.0107%/8h= −11.7% APRnext payment −$0.13 per $10,000 · paid last 24h −0.020%
Price spread now: Nado against Reya+0.001%7-day average +0.044% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on ReyaShort on Nado
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.044%−$4 on $10k
Price spread, last 7 days+0.026%+$3 · spread now +0.001%, 7d avg +0.044%
Together, before fees−0.017%+ Points / potential airdropReya: Active · Nado: Active · farm board−$2 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Nado is 0.043% cheaper against Reya than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.044%). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongReya ETHRUSDPERP2,725.60.0207pay 0.0026% / 1h8m 22s$7.3M$1.2M25x
ShortNado ETH-PERP2,725.60.0100get 0.0012% / 1h8m 22s$13.8M$104.7M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Nado against Reya. 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
−$22.5
Price spread: +0.001% → +0.044%
−$4.31
Slippage, 4 orders
no order book: not counted
Fee Reya: 3 bp × 2 orders
−$6
Fee Nado: 3.5 bp × 2 orders
−$7
Net
−$39.8
Costs to cover
0.130%
Break-even
never at this rate
Slippage unknown: Reya: no order-book sample; Nado: live order book, 6 min ago. 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 Reya no order-book sample—————
Sell Nado live order book, 6 min ago0.18 bp3.7 bp −$43.7 bp −$375.5 bp −$55014.0 bp −$7,022
Reya: 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
Perpl ETH−0.0335%43m2,725.6+0.002%$301K$5.6M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,726.2+0.024%$5K$1K50xas long as short
HTX ETH-USDT−0.0019%8h2,726+0.017%$1.05B$1.20B200xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,726.8+0.045%$11.9M—200xas long as short
Phoenix ETH−0.0006%1h2,728.7+0.115%$816K$2.9M25xas long as short
Kalshi KXETHPERP0.0000%8h2,727.4+0.068%$6.2M$686.1M4.9xas long as short
dYdX ETH-USD+0.0006%1h2,726.8+0.044%$10.7M$42.1M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,726.8+0.046%$28.0M—200xas long as short
BingX ETH-USDC+0.0028%8h2,726+0.015%—$18.4M—as long as short
Bullet ETH-USD+0.0037%1h2,726.3+0.028%$177K$1.7M20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit ETHUSDT+0.0037%8h2,726.4+0.030%$2.36B$4.39B150xas long as short
01 Exchange ETHUSD+0.0048%1h2,726.3+0.027%$186K$814K50xas long as short
SunX ETH-USDT+0.0055%8h2,725.7+0.005%$955K$11.2M100xas long as short
KuCoin ETHUSDTM+0.0066%8h2,726+0.015%$377.3M$574.7M100xas long as short
Aster ETHUSDT+0.0076%8h2,726.5+0.036%$252.2M$842.3M200xas long as short
OKX ETH-USDT-SWAP+0.0080%8h2,726.6+0.038%$1.66B$10.72B100xas long as short
Aevo ETH-PERP+0.0080%1h2,724−0.057%$4.9M$155K20xas long as short
MEXC ETH_USDT+0.0084%8h2,726.3+0.028%$1.56B$2.58B500xas long as short
Binance ETHUSDT+0.0084%8h2,726.4+0.031%$6.32B$15.94B150xas long as short
Phemex ETHUSDT+0.0087%8h2,726.4+0.033%$264.2M$64.2M150xas long as short
ApeX Omni ETHUSDT+0.0087%1h2,728+0.091%$8.7M$31.2M100xas long as short
SoDEX ETH-USD+0.0091%1h2,726.4+0.031%$54.3M$187.8M40xas long as short
Lighter ETH+0.0096%1h2,726.3+0.028%$112.3M$435.9M50xas long as short
Lighter RH ETH+0.0096%1h2,727.4+0.067%$23.3M$104.8M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,726.1+0.021%—$31.0M500xas long as short
Injective ETH/USDC PERP+0.0096%1h2,730.8+0.192%$117K$22.5M52xas long as short
Aftermath Perps ETHUSD+0.0100%1h2,728.4+0.104%$30K$20K20xas long as short
Katana Perps ETH-USD+0.0100%8h2,725.5−0.002%$498K$3.4M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,727.4+0.067%$15.4M$8.0M50xas long as short
Nado ETH-PERPshort+0.0100%1h2,725.6+0.001%$13.8M$104.7M50x
Hyperliquid ETH+0.0100%1h2,728.3+0.101%$3.09B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,726.8+0.046%$31.8M$334.0M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,724.9−0.024%$2.7M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,726.4+0.030%$1.5M$16.0M25xas long as short
Bulk ETH-USD+0.0100%1h2,728.2+0.098%$167.8M$301.9M25xas long as short
Gate ETH_USDT+0.0100%8h2,726.8+0.047%$3.33B$8.96B200xas long as short
Bitget ETHUSDT+0.0100%8h2,726.5+0.035%$2.07B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,725.2−0.012%$14.9M$41.6M50xas long as short
Variational Omni ETH+0.0100%8h2,727+0.053%$134.7M$322.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,728.1+0.093%$183.5M$671.0M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,728.8+0.117%$158.8M$86.9M50xas long as short
StandX ETH-USD+0.0100%1h2,727.8+0.082%$21.0M$72.0M40xas long as short
Vest ETH-PERP+0.0100%1h2,727+0.053%—$846K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,727.4+0.068%$11.2M$9.5M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,726.7+0.041%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,728.2+0.098%$40.9M$30.1M15xas long as short
Extended ETH-USD+0.0104%1h2,725.7+0.007%$30.6M$73.5M50xas long as short
RISEx ETH/USDC+0.0107%1h2,726.2+0.025%$5.6M$11.7M25xas long as short
Deribit ETH-PERPETUAL+0.0109%1h2,727.7+0.079%$258.4M$202.6M50xas long as short
Coinbase International ETH-PERP-INTX+0.0120%1h2,727.5+0.071%$50.4M$4.27B50xas long as short
Kraken Futures PF_ETHUSD+0.0153%1h2,727.3+0.063%$83.4M$315.9M100xas long as short
Orderly PERP_ETH_USDC+0.0190%8h2,729.2+0.133%$32.1M$11.6M100xas long as short
Reya ETHRUSDPERPlong+0.0207%1h2,725.6long leg$7.3M$1.2M25x
Hibachi ETH/USDT-P+0.0232%1h2,726.8+0.045%$247K$1.4M20xas long as short
BloFin ETH-USDT+0.0337%8h2,725.1−0.016%$281.4M$174.3M150xas long as short