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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 07:00 UTC+0.0020%/8h= +2.1% APRnext payment +$0.02 per $10,000 · paid last 24h +0.006%
Price spread now: Bulk against SoDEX−0.066%7-day average +0.033% · 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−$25as in the Price arb table
costs, in and out, $10k−$150.154% of the position
Long on SoDEXShort on Bulk
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.024%+$2 on $10k
Price spread, last 4 days (all we have)+0.084%+$8 · spread now −0.066%, 7d avg +0.033%
Together, before fees+0.108%+$11 on $10k · with fees, hour by hour
Funding pays, the price is against you. Bulk is 0.099% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.066% now, against its 7-day average of +0.033%). If the spread goes back, that is −$10 on $10k: about 17 days of funding at the current rate (+$1 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongSoDEX ETH-USD2,727.70.0080pay 0.0010% / 1h42m 50s$54.3M$187.4M40x
ShortBulk ETH-USD2,725.90.0100get 0.0013% / 1h42m 50s$161.8M$340.3M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bulk against SoDEX. 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
$4.1
Price spread: −0.066% → +0.033%
−$9.88
Slippage, 4 orders
−$0.4
Fee SoDEX: 4 bp × 2 orders
−$8
Fee Bulk: 3.5 bp × 2 orders
−$7
Net
−$21.19
Costs to cover
0.154%
Break-even
43.2 days
Slippage from SoDEX: live order book, 1 min ago; Bulk: live order book, 1 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 SoDEX live order book, 1 min ago0.18 bp4.2 bp −$44.2 bp −$425.8 bp −$58432.0 bp −$16.0K
Sell Bulk live order book, 1 min ago0.02 bp3.5 bp −$43.5 bp −$354.1 bp −$4125.1 bp −$2,534

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
ApeX Omni ETHUSDT−0.0115%1h2,726.2−0.054%$8.6M$31.5M100xas long as short
Perpl ETH−0.0112%43m2,727.5−0.007%$290K$5.8M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,728.3+0.022%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0040%1h2,727.8+0.004%$117K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,729.4+0.062%$12.0M—200xas long as short
Phoenix ETH−0.0006%1h2,725.4−0.084%$816K$3.0M25xas long as short
dYdX ETH-USD0.0000%1h2,727.8+0.004%$10.5M$42.9M50xas long as short
Kalshi KXETHPERP0.0000%8h2,728.7+0.037%$6.7M$690.9M4.9xas long as short
Deribit ETH-PERPETUAL0.0000%1h2,728.4+0.024%$262.6M$215.2M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,729.5+0.066%$32.9M—200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
HTX ETH-USDT+0.0007%8h2,727.6−0.003%$1.05B$1.23B200xas long as short
01 Exchange ETHUSD+0.0024%1h2,728.9+0.044%$191K$892K50xas long as short
BingX ETH-USDC+0.0031%8h2,726.2−0.054%—$18.5M—as long as short
Bybit ETHUSDT+0.0037%8h2,726.1−0.060%$2.34B$4.43B150xas long as short
Aftermath Perps ETHUSD+0.0072%1h2,728.7+0.035%$30K$20K20xas long as short
KuCoin ETHUSDTM+0.0077%8h2,726.8−0.033%$378.2M$577.5M100xas long as short
SoDEX ETH-USDlong+0.0080%1h2,727.7long leg$54.3M$187.4M40x
SunX ETH-USDT+0.0085%8h2,727.2−0.019%$956K$11.1M100xas long as short
Aster ETHUSDT+0.0086%8h2,726.9−0.030%$251.9M$850.6M200xas long as short
OKX ETH-USDT-SWAP+0.0091%8h2,726−0.061%$1.65B$10.96B100xas long as short
MEXC ETH_USDT+0.0094%8h2,727.5−0.009%$1.52B$2.58B500xas long as short
Binance ETHUSDT+0.0094%8h2,726.8−0.034%$6.33B$16.19B150xas long as short
Lighter ETH+0.0096%1h2,728.4+0.026%$112.0M$433.8M50xas long as short
Lighter RH ETH+0.0096%1h2,729.4+0.062%$23.4M$102.9M50xas long as short
Aevo ETH-PERP+0.0096%1h2,727.4−0.010%$4.9M$165K20xas long as short
Katana Perps ETH-USD+0.0100%8h2,728.4+0.026%$509K$3.5M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,731.2+0.128%$15.3M$8.0M50xas long as short
Nado ETH-PERP+0.0100%1h2,728.2+0.017%$14.1M$106.1M50xas long as short
Hyperliquid ETH+0.0100%1h2,730.1+0.088%$3.10B$2.06B25xas long as short
Pacifica ETH+0.0100%1h2,728.8+0.039%$32.0M$333.7M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,728.2+0.018%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,729.2+0.056%$1.5M$16.3M25xas long as short
Bulk ETH-USDshort+0.0100%1h2,725.9−0.066%$161.8M$340.3M25x
Gate ETH_USDT+0.0100%8h2,726.9−0.028%$3.27B$8.95B200xas long as short
Bitget ETHUSDT+0.0100%8h2,727.4−0.012%$2.09B$2.80B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,727.8+0.002%$15.0M$41.6M50xas long as short
Variational Omni ETH+0.0100%8h2,723.1−0.170%$133.0M$326.2M—as long as short
edgeX ETHUSDC+0.0100%4h2,724.6−0.115%$184.7M$683.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,726.3−0.052%$158.4M$87.7M50xas long as short
StandX ETH-USD+0.0100%1h2,729.6+0.070%$21.0M$69.0M40xas long as short
Vest ETH-PERP+0.0100%1h2,729.4+0.062%—$767K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,729.4+0.062%$11.2M$9.5M50xas long as short
Bullet ETH-USD+0.0100%1h2,728.8+0.040%$179K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,729+0.048%$22K$21K25xas long as short
Derive ETH-PERP+0.0100%1h2,730.3+0.095%$40.9M$30.2M15xas long as short
Phemex ETHUSDT+0.0100%8h2,728.5+0.028%$263.0M$65.0M150xas long as short
Extended ETH-USD+0.0104%1h2,726.9−0.031%$30.4M$74.1M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,728.1+0.013%—$30.6M500xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,729.3+0.060%$50.3M$4.32B50xas long as short
RISEx ETH/USDC+0.0115%1h2,729.3+0.058%$5.6M$11.8M25xas long as short
Orderly PERP_ETH_USDC+0.0187%8h2,730.9+0.119%$32.2M$11.6M100xas long as short
Reya ETHRUSDPERP+0.0193%1h2,727.5−0.007%$7.3M$1.1M25xas long as short
Kraken Futures PF_ETHUSD+0.0211%1h2,728.6+0.032%$83.6M$311.5M100xas long as short
Hibachi ETH/USDT-P+0.0264%1h2,729.3+0.060%$245K$1.4M20xas long as short
BloFin ETH-USDT+0.0377%8h2,728+0.012%$282.2M$175.5M150xas long as short