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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 04:00 UTC+0.0057%/8h= +6.3% APRnext payment +$0.57 per $10,000 · paid last 24h −0.017%
Price spread now: Kalshi against SunX+0.106%7-day average −0.008% · you sell dearer than you buy
Net, funding: paid 7d − costs−$36as in the Funding arb table
Net, price: spread back to 7d avg − costs−$11as in the Price arb table
costs, in and out, $10k−$220.220% of the position
Long on SunXShort on Kalshi
What this pair did over the last
the charts below follow
Funding, last 7 days−0.144%−$14 on $10k
Price spread, last 4 days (all we have)+0.268%+$27 · spread now +0.106%, 7d avg −0.008%
Together, before fees+0.124%+$12 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Kalshi is 0.115% dearer against SunX than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.008%. Mind the row above: over the last 7 days funding on this pair cost −0.144%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongSunX ETH-USDT2,734.40.0100pay 0.0100% / 8h4h 51m$959K$11.4M100x
ShortKalshi KXETHPERP2,737.30.0157get 0.0157% / 8h51m 48s$7.7M$672.9M4.9x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kalshi against SunX. 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
$12.02
Price spread: +0.106% → −0.008%
$11.48
Slippage, 4 orders
−$4.03
Fee SunX: 4 bp × 2 orders
−$8
Fee Kalshi: 5 bp × 2 orders
−$10
Net
$1.47
Costs to cover
0.220%
Break-even
6.1 days
Slippage from SunX: live order book, 7 min ago; Kalshi: live order book, 2 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 SunX live order book, 7 min ago0.62 bp6.5 bp −$76.6 bp −$669.9 bp −$986doesn't fit
Sell Kalshi live order book, 2 min ago0.37 bp5.4 bp −$56.5 bp −$6510.2 bp −$1,01916.9 bp −$8,457

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−0.0447%43m2,735.6+0.043%$300K$5.5M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,740.3+0.216%$118K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,735.6+0.044%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,736+0.060%$12.0M—200xas long as short
dYdX ETH-USD0.0000%1h2,737.7+0.122%$10.8M$41.7M50xas long as short
01 Exchange ETHUSD0.0000%1h2,736+0.059%$181K$834K50xas long as short
Phoenix ETH0.0000%1h2,741.2+0.249%$832K$2.9M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,736.2+0.064%$25.5M—200xas long as short
SoDEX ETH-USD+0.0045%1h2,735.2+0.030%$54.5M$187.6M40xas long as short
Bullet ETH-USD+0.0051%1h2,735.4+0.038%$180K$1.7M20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0055%8h2,735+0.021%—$18.4M—as long as short
OKX ETH-USDT-SWAP+0.0070%8h2,735.2+0.029%$1.68B$10.61B100xas long as short
KuCoin ETHUSDTM+0.0072%8h2,736.1+0.062%$380.2M$573.3M100xas long as short
Aster ETHUSDT+0.0084%8h2,735.9+0.056%$253.0M$840.5M200xas long as short
Aevo ETH-PERP+0.0088%1h2,733.2−0.043%$4.9M$154K20xas long as short
MEXC ETH_USDT+0.0091%8h2,735.8+0.052%$1.55B$2.52B500xas long as short
Binance ETHUSDT+0.0092%8h2,734.8+0.016%$6.35B$15.70B150xas long as short
Lighter ETH+0.0096%1h2,735.9+0.056%$112.6M$431.9M50xas long as short
Lighter RH ETH+0.0096%1h2,736.7+0.086%$24.4M$103.2M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,737.5+0.115%—$30.5M500xas long as short
RISEx ETH/USDC+0.0099%1h2,735.9+0.054%$5.6M$11.4M25xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,739.8+0.196%$15.8M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,734.8+0.015%$499K$3.2M50xas long as short
Nado ETH-PERP+0.0100%1h2,735.6+0.044%$13.9M$104.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,737.2+0.103%$3.10B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,737+0.095%$31.6M$335.1M50xas long as short
Bybit ETHUSDT+0.0100%8h2,735+0.023%$2.43B$4.19B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,734.5+0.004%$2.7M$16.9M25xas long as short
Arcus ETH-USD+0.0100%1h2,735.5+0.041%$2.8M$16.0M25xas long as short
Bulk ETH-USD+0.0100%1h2,740.8+0.233%$166.9M$306.7M25xas long as short
Gate ETH_USDT+0.0100%8h2,735.3+0.032%$3.38B$8.68B200xas long as short
Bitget ETHUSDT+0.0100%8h2,735.2+0.028%$2.07B$2.72B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,735.3+0.033%$15.0M$39.6M50xas long as short
Variational Omni ETH+0.0100%8h2,741+0.240%$133.2M$324.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,739.9+0.200%$182.1M$665.1M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,737.4+0.108%$159.2M$83.8M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,734.9+0.020%$8.7M$30.7M100xas long as short
StandX ETH-USD+0.0100%1h2,739.3+0.180%$21.1M$69.6M40xas long as short
Vest ETH-PERP+0.0100%1h2,737.6+0.118%—$843K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,737.3+0.106%$10.9M$8.8M50xas long as short
Derive ETH-PERP+0.0100%1h2,737.5+0.113%$41.4M$29.7M15xas long as short
SunX ETH-USDTlong+0.0100%8h2,734.4long leg$959K$11.4M100x
HTX ETH-USDT+0.0100%8h2,735.7+0.046%$1.06B$1.18B200xas long as short
Phemex ETHUSDT+0.0100%8h2,735.1+0.025%$265.8M$65.2M150xas long as short
Extended ETH-USD+0.0104%1h2,735.3+0.035%$30.6M$72.4M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,737.5+0.115%$51.1M$4.26B50xas long as short
Aftermath Perps ETHUSD+0.0125%1h2,739.7+0.194%$30K$20K20xas long as short
Kalshi KXETHPERPshort+0.0157%8h2,737.3+0.106%$7.7M$672.9M4.9x
Deribit ETH-PERPETUAL+0.0174%1h2,736.7+0.086%$260.0M$194.7M50xas long as short
Orderly PERP_ETH_USDC+0.0194%8h2,738.1+0.134%$32.2M$11.4M100xas long as short
BloFin ETH-USDT+0.0211%8h2,738.4+0.147%$285.5M$172.8M150xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,735.9+0.057%$85.9M$309.6M100xas long as short
Reya ETHRUSDPERP+0.0224%1h2,735.8+0.050%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,739.6+0.190%$252K$1.4M20xas long as short
Bluefin ETH-PERP+0.1676%1h2,736.3+0.068%$21K$20K25xas long as short