ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0066%/8h= −7.2% APRnext payment −$0.08 per $10,000 · paid last 24h +0.015%

Price spread now: Deribit against SoDEX+0.025%7-day average +0.054% · 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−$19as in the Price arb table

costs, in and out, $10k−$160.164% of the position

Long on SoDEX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.016%+$2 on $10k

Price spread, last 4 days (all we have)+0.025%+$3 · spread now +0.025%, 7d avg +0.054%

Together, before fees+0.041%+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Deribit is 0.029% cheaper against SoDEX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.054%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX ETH-USD	2,725.8	0.0066	pay 0.0008% / 1h	37m 32s	$54.3M	$187.5M	40x
Short	Deribit ETH-PERPETUAL	2,726.5	0	get 0.0000% / 1h	37m 32s	$262.7M	$215.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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

Position, each leg$Hold fordaysFee SoDEXbpFee DeribitbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$13.83
Price spread: +0.025% → +0.054%: −$2.92
Slippage, 4 orders: −$1.4
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$33.15
Costs to cover: 0.164%
Break-even: never at this rate

Slippage from SoDEX: live order book, 2 min ago; Deribit: live order book, 2 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 SoDEX live order book, 2 min ago	0.18 bp	4.2 bp −$4	4.2 bp −$42	5.7 bp −$570	30.5 bp −$15.3K
Sell Deribit live order book, 2 min ago	0.18 bp	4.0 bp −$4	5.0 bp −$50	10.8 bp −$1,080	21.4 bp −$10.7K

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
ApeX Omni ETHUSDT	−0.0113%	1h	2,727.4	+0.058%	$8.6M	$31.4M	100x	as long as short
Perpl ETH	−0.0112%	43m	2,725.7	−0.006%	$290K	$5.8M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,726.4	+0.022%	$5K	$1K	50x	as long as short
Injective ETH/USDC PERP	−0.0040%	1h	2,727.6	+0.066%	$117K	$22.5M	52x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,727	+0.043%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,727.4	+0.059%	$816K	$3.0M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,727.3	+0.055%	$10.5M	$42.9M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,726.4	+0.022%	$6.7M	$690.2M	4.9x	as long as short
Deribit ETH-PERPETUALshort	0.0000%	1h	2,726.5	+0.025%	$262.7M	$215.3M	50x
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,726.3	+0.017%	$32.9M	—	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX ETH-USDT	+0.0008%	8h	2,725.9	+0.002%	$1.05B	$1.23B	200x	as long as short
01 Exchange ETHUSD	+0.0024%	1h	2,727.1	+0.048%	$190K	$893K	50x	as long as short
BingX ETH-USDC	+0.0030%	8h	2,725.8	−0.001%	—	$18.6M	—	as long as short
Bybit ETHUSDT	+0.0033%	8h	2,726.3	+0.020%	$2.34B	$4.43B	150x	as long as short
SoDEX ETH-USDlong	+0.0066%	1h	2,725.8	long leg	$54.3M	$187.5M	40x
KuCoin ETHUSDTM	+0.0073%	8h	2,726	+0.006%	$376.2M	$577.6M	100x	as long as short
Aster ETHUSDT	+0.0084%	8h	2,726.3	+0.020%	$251.9M	$850.0M	200x	as long as short
Aftermath Perps ETHUSD	+0.0084%	1h	2,727.4	+0.057%	$30K	$20K	20x	as long as short
SunX ETH-USDT	+0.0084%	8h	2,725.5	−0.012%	$955K	$11.1M	100x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,723.4	−0.089%	$4.9M	$165K	20x	as long as short
OKX ETH-USDT-SWAP	+0.0088%	8h	2,726.4	+0.021%	$1.65B	$10.94B	100x	as long as short
Binance ETHUSDT	+0.0091%	8h	2,726.5	+0.026%	$6.32B	$16.18B	150x	as long as short
MEXC ETH_USDT	+0.0091%	8h	2,726.6	+0.029%	$1.52B	$2.59B	500x	as long as short
Lighter ETH	+0.0096%	1h	2,726.6	+0.029%	$112.0M	$434.0M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,727.9	+0.078%	$23.4M	$103.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,726.4	+0.022%	$508K	$3.5M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,729.9	+0.149%	$15.3M	$8.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,726.4	+0.022%	$14.1M	$105.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,729.1	+0.121%	$3.10B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,727.3	+0.053%	$31.9M	$333.7M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,726	+0.007%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,727.2	+0.053%	$1.5M	$16.3M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,727.3	+0.054%	$162.4M	$353.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,726.9	+0.041%	$3.29B	$8.97B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,726.4	+0.022%	$2.09B	$2.80B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,725.8	−0.001%	$15.0M	$41.8M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,726.2	+0.013%	$133.5M	$324.9M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,724.5	−0.046%	$184.7M	$681.3M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,726.6	+0.030%	$158.4M	$87.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,726	+0.007%	$21.0M	$69.2M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,727.8	+0.073%	—	$445K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,727.8	+0.073%	$11.2M	$9.5M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,726.4	+0.023%	$180K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,726.4	+0.023%	$22K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,727.9	+0.076%	$40.9M	$30.2M	15x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,726	+0.007%	$262.8M	$64.8M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,725.8	−0.001%	$30.4M	$74.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,726.3	+0.020%	—	$30.5M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,727.1	+0.046%	$50.1M	$4.32B	50x	as long as short
RISEx ETH/USDC	+0.0115%	1h	2,727.2	+0.051%	$5.6M	$11.7M	25x	as long as short
Orderly PERP_ETH_USDC	+0.0186%	8h	2,728.3	+0.092%	$32.1M	$11.6M	100x	as long as short
Reya ETHRUSDPERP	+0.0192%	1h	2,725.7	−0.002%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0211%	1h	2,726.4	+0.022%	$83.2M	$311.7M	100x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,726.5	+0.026%	$245K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0371%	8h	2,726.1	+0.012%	$282.1M	$175.4M	150x	as long as short