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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 02:00 UTC+0.0169%/8h= +18.5% APRpaid last 24h −0.013%
Price spread now: Phemex against RISEx+0.105%7-day average −0.021% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$13as in the Price arb table
costs, in and out, $10k−$260.259% of the position
Long on RISExShort on Phemex
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.042%−$4 on $10k
Price spread, last 3 days (all we have)−0.170%−$17 · spread now +0.105%, 7d avg −0.021%
Together, before fees−0.211%−$21 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Phemex is 0.126% dearer against RISEx than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.021%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongRISEx ETH/USDC2,750.6−0.0071get 0.0009% / 1h24m 23s$5.7M$11.4M25x
ShortPhemex ETHUSDT2,753.50.0098get 0.0098% / 8h6h 24m$267.7M$65.9M150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex 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

Funding earned
$35.57
Price spread: +0.105% → −0.021%
$12.6
Slippage, 4 orders
−$7.95
Fee RISEx: 3 bp × 2 orders
−$6
Fee Phemex: 6 bp × 2 orders
−$12
Net
$22.22
Costs to cover
0.259%
Break-even
2.6 days
Slippage from RISEx: live order book, 5 min ago; Phemex: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy RISEx live order book, 5 min ago0.02 bp5.4 bp −$55.5 bp −$55311.8 bp −$31.2Kdoesn't fit
Sell Phemex live order book, 5 min ago2.46 bp8.5 bp −$89.2 bp −$9221.9 bp −$2,190doesn't fit

ETH on 54 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−0.0447%43m2,750.5−0.005%$312K$6.0M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,750.7+0.003%$5K$1K50xas long as short
RISEx ETH/USDClong−0.0071%1h2,750.6long leg$5.7M$11.4M25x
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,750.9+0.012%$11.9M—200xas long as short
Phoenix ETH−0.0006%1h2,752.8+0.079%$849K$3.1M25xas long as short
dYdX ETH-USD0.0000%1h2,753.5+0.106%$10.8M$41.9M50xas long as short
ApeX Omni ETHUSDT+0.0003%1h2,750.4−0.007%$8.7M$31.5M100xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,751+0.015%$22.2M—200xas long as short
01 Exchange ETHUSD+0.0024%1h2,751.3+0.025%$181K$1.1M50xas long as short
BingX ETH-USDT+0.0036%8h2,750.8+0.008%—$1.19B—as long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0046%8h2,751.4+0.028%$1.69B$10.98B100xas long as short
HTX ETH-USDT+0.0056%8h2,753.3+0.099%$1.07B$1.21B200xas long as short
Aster ETHUSDT+0.0070%8h2,750.9+0.008%$253.0M$856.9M200xas long as short
KuCoin ETHUSDTM+0.0071%8h2,751+0.015%$379.8M$607.5M100xas long as short
MEXC ETH_USDT+0.0078%8h2,751+0.012%$1.57B$2.56B500xas long as short
Binance ETHUSDT+0.0080%8h2,750.7+0.004%$6.36B$16.22B150xas long as short
Aevo ETH-PERP+0.0080%1h2,748.6−0.072%$4.9M$168K20xas long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,754.8+0.151%$59.1M$4.35B50xas long as short
Gate ETH_USDT+0.0093%8h2,751.2+0.020%$3.39B$8.89B200xas long as short
Bitget ETHUSDT+0.0093%8h2,751.3+0.024%$2.08B$2.84B150xas long as short
Lighter ETH+0.0096%1h2,752.5+0.069%$113.2M$442.9M50xas long as short
Lighter RH ETH+0.0096%1h2,753.8+0.115%$24.9M$107.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,750.4−0.010%—$35.5M500xas long as short
Phemex ETHUSDTshort+0.0098%8h2,753.5+0.105%$267.7M$65.9M150x
Paradex ETH-USD-PERP+0.0099%8h2,755.8+0.188%$16.3M$8.2M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,750.6−0.001%$470K$2.9M50xas long as short
Nado ETH-PERP+0.0100%1h2,750−0.022%$14.0M$112.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,753.1+0.090%$3.13B$2.10B25xas long as short
Pacifica ETH+0.0100%1h2,752.4+0.066%$31.6M$333.9M50xas long as short
Bybit ETHUSDT+0.0100%8h2,750.9+0.009%$2.46B$4.33B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,749.8−0.030%$2.8M$16.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,751+0.014%$2.8M$16.5M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,752.8+0.079%$15.1M$41.7M50xas long as short
Variational Omni ETH+0.0100%8h2,753.3+0.097%$133.3M$345.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,751.6+0.036%$181.9M$701.5M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,751.8+0.042%$160.0M$83.5M50xas long as short
StandX ETH-USD+0.0100%1h2,753.1+0.090%$21.3M$67.8M40xas long as short
Vest ETH-PERP+0.0100%1h2,752.5+0.069%—$869K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,751.5+0.032%$10.7M$8.6M50xas long as short
Bullet ETH-USD+0.0100%1h2,750.7+0.003%$181K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,750.7+0.004%$21K$21K25xas long as short
Derive ETH-PERP+0.0100%1h2,752.6+0.073%$41.8M$29.5M15xas long as short
SunX ETH-USDT+0.0100%8h2,751.8+0.044%$964K$12.4M100xas long as short
SoDEX ETH-USD+0.0100%1h2,753.6+0.108%$54.8M$187.7M40xas long as short
Bulk ETH-USD+0.0100%1h2,751.8+0.043%$165.7M$300.7M25xas long as short
Aftermath Perps ETHUSD+0.0101%1h2,750.9+0.011%$30K$20K20xas long as short
Extended ETH-USD+0.0104%1h2,749.5−0.041%$30.5M$73.6M50xas long as short
Kalshi KXETHPERP+0.0142%8h2,753.7+0.112%$7.7M$674.8M4.9xas long as short
Deribit ETH-PERPETUAL+0.0142%1h2,754.7+0.147%$258.5M$199.9M50xas long as short
Orderly PERP_ETH_USDC+0.0171%8h2,753.6+0.108%$32.4M$11.1M100xas long as short
Hibachi ETH/USDT-P+0.0208%1h2,755.3+0.171%$251K$1.5M20xas long as short
Injective ETH/USDC PERP+0.0209%1h2,750.5−0.004%$118K$22.5M52xas long as short
Reya ETHRUSDPERP+0.0220%1h2,750.9+0.010%$7.3M$1.1M25xas long as short
Kraken Futures PF_ETHUSD+0.0353%1h2,754.5+0.141%$90.0M$316.1M100xas long as short