ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0101%/8h= −11.1% APRnext payment −$0.13 per $10,000 · paid last 24h −0.001%

Price spread now: Bullet against RISEx−0.055%7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$200.200% of the position

Long on RISEx Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.049%−$5 on $10k

Price spread, last 7 days+0.054%+$5 · spread now −0.055%, 7d avg +0.006%

Together, before fees+0.005%+$1 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 Bullet is 0.061% cheaper against RISEx than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.006%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx ETH/USDC	2,739.5	0.0107	pay 0.0013% / 1h	59m 29s	$5.7M	$11.7M	25x
Short	Bullet ETH-USD	2,738	0.0006	get 0.0001% / 1h	59m 29s	$180K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against RISEx. 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 RISExbpFee BulletbpOrdersPrice spread, now −0.055%Rate

Funding earned: −$21.22
Price spread: −0.055% → +0.006%: −$6.06
Slippage, 4 orders: −$6.05
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$47.32
Costs to cover: 0.200%
Break-even: never at this rate

Slippage from RISEx: live order book, 5 min ago; Bullet: live order book, 5 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 RISEx live order book, 5 min ago	0.02 bp	5.2 bp −$5	5.9 bp −$59	277.9 bp −$27.8K	doesn't fit
Sell Bullet live order book, 5 min ago	0.18 bp	6.2 bp −$6	8.8 bp −$88	doesn't fit	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
Perpl ETH	−0.0447%	43m	2,738.1	−0.050%	$297K	$5.6M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,734.2	−0.192%	$117K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,739.7	+0.008%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,739.4	−0.001%	$11.9M	—	200x	as long as short
Phoenix ETH	0.0000%	1h	2,737.3	−0.079%	$827K	$2.9M	25x	as long as short
dYdX ETH-USD	+0.0001%	1h	2,739.5	+0.002%	$10.7M	$41.9M	50x	as long as short
Bullet ETH-USDshort	+0.0006%	1h	2,738	−0.055%	$180K	$1.7M	20x
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,738.2	−0.046%	$28.1M	—	200x	as long as short
HTX ETH-USDT	+0.0024%	8h	2,739	−0.019%	$1.06B	$1.20B	200x	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,739.2	−0.010%	$187K	$821K	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDT	+0.0043%	8h	2,738.9	−0.019%	—	$1.15B	—	as long as short
Bybit ETHUSDT	+0.0053%	8h	2,738.1	−0.049%	$2.38B	$4.36B	150x	as long as short
ApeX Omni ETHUSDT	+0.0064%	1h	2,736.1	−0.123%	$8.7M	$31.3M	100x	as long as short
KuCoin ETHUSDTM	+0.0068%	8h	2,738.4	−0.038%	$380.2M	$573.7M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0075%	8h	2,738.2	−0.046%	$1.67B	$10.74B	100x	as long as short
Phemex ETHUSDT	+0.0077%	8h	2,739.2	−0.011%	$266.0M	$65.1M	150x	as long as short
Aster ETHUSDT	+0.0091%	8h	2,739.5	+0.003%	$251.3M	$842.1M	200x	as long as short
Lighter ETH	+0.0096%	1h	2,739.2	−0.012%	$113.2M	$429.8M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,740.3	+0.029%	$23.5M	$106.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,738.1	−0.049%	—	$31.0M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,736.8	−0.096%	$4.9M	$155K	20x	as long as short
MEXC ETH_USDT	+0.0098%	8h	2,738.2	−0.047%	$1.56B	$2.53B	500x	as long as short
Binance ETHUSDT	+0.0098%	8h	2,738.6	−0.032%	$6.37B	$15.89B	150x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,743.9	+0.163%	$15.6M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,738.6	−0.032%	$499K	$3.3M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,739.2	−0.008%	$13.6M	$104.4M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,740.5	+0.038%	$3.11B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,740.3	+0.029%	$31.9M	$334.0M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,738.2	−0.046%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,739.5	−0.001%	$1.5M	$16.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,733.7	−0.212%	$169.4M	$313.3M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,739.4	−0.002%	$3.34B	$8.81B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,738.2	−0.045%	$2.07B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,738.3	−0.041%	$15.0M	$40.5M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,737.3	−0.079%	$134.0M	$324.5M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,737	−0.089%	$184.1M	$671.7M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,736.6	−0.105%	$159.2M	$86.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,738.9	−0.021%	$21.1M	$68.3M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,739.5	0.000%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,740	+0.019%	$11.2M	$9.3M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,739	−0.017%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,741.2	+0.062%	$41.4M	$29.8M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,737.9	−0.056%	$961K	$11.3M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,739.2	−0.010%	$54.6M	$187.6M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,738.4	−0.040%	$30.4M	$72.9M	50x	as long as short
RISEx ETH/USDClong	+0.0107%	1h	2,739.5	long leg	$5.7M	$11.7M	25x
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,740.4	+0.034%	$51.4M	$4.28B	50x	as long as short
Aftermath Perps ETHUSD	+0.0116%	1h	2,736.7	−0.100%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0129%	8h	2,738.9	−0.021%	$6.8M	$679.4M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0188%	1h	2,740.7	+0.043%	$260.1M	$197.1M	50x	as long as short
Orderly PERP_ETH_USDC	+0.0199%	8h	2,741.7	+0.080%	$32.3M	$11.7M	100x	as long as short
Reya ETHRUSDPERP	+0.0216%	1h	2,737.4	−0.077%	$7.3M	$1.2M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0221%	1h	2,739.8	+0.011%	$83.3M	$314.9M	100x	as long as short
Hibachi ETH/USDT-P	+0.0280%	1h	2,739.2	−0.010%	$249K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0387%	8h	2,737.2	−0.082%	$283.5M	$175.9M	150x	as long as short