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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 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.017%
Price spread now: Derive against Variational Omni+0.123%7-day average +0.059% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Variational OmniShort on Derive
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.051%+$5 on $10k
Price spread, last 4 days (all we have)−0.110%−$11 · spread now +0.123%, 7d avg +0.059%
Together, before fees−0.060%+ Points / potential airdropVariational Omni: Active · farm board−$6 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Derive is 0.063% dearer against Variational Omni than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.059%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongVariational Omni ETH2,735.40.0100pay 0.0100% / 8h3h 34m$133.6M$322.1M—
ShortDerive ETH-PERP2,738.70.0100get 0.0013% / 1h34m 42s$41.3M$29.9M15x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Derive against Variational Omni. 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
$0
Price spread: +0.123% → +0.059%
$6.32
Slippage, 4 orders
no order book: not counted
Fee Variational Omni: 0 bp × 2 orders
$0
Fee Derive: 3 bp × 2 orders
−$6
Net
$0.32
Costs to cover
0.060%
Break-even
from the start
Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Derive: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Variational Omni RFQ quote, 4 min ago0.51 bpdoesn't fit0.5 bp −$51.7 bp −$172doesn't fit
Sell Derive no order-book sample—————
Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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%43m2,735.8+0.017%$297K$5.6M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,737+0.059%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,737.3+0.072%$11.9M—200xas long as short
Phoenix ETH−0.0006%1h2,738.9+0.129%$823K$2.9M25xas long as short
HTX ETH-USDT+0.0003%8h2,736.2+0.031%$1.06B$1.20B200xas long as short
dYdX ETH-USD+0.0005%1h2,737.1+0.063%$10.8M$42.0M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,737.4+0.074%$28.1M—200xas long as short
Bullet ETH-USD+0.0028%1h2,737.1+0.063%$180K$1.7M20xas long as short
BingX ETH-USDC+0.0032%8h2,735.7+0.013%—$18.5M—as long as short
Bybit ETHUSDT+0.0042%8h2,736.6+0.044%$2.38B$4.37B150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
ApeX Omni ETHUSDT+0.0044%1h2,737.4+0.074%$8.7M$31.2M100xas long as short
01 Exchange ETHUSD+0.0056%1h2,737.8+0.089%$187K$817K50xas long as short
KuCoin ETHUSDTM+0.0067%8h2,736.9+0.054%$381.7M$573.8M100xas long as short
OKX ETH-USDT-SWAP+0.0076%8h2,736.9+0.056%$1.67B$10.74B100xas long as short
Phemex ETHUSDT+0.0083%8h2,736.4+0.037%$265.3M$65.1M150xas long as short
Deribit ETH-PERPETUAL+0.0083%1h2,737.6+0.082%$259.5M$200.1M50xas long as short
Aster ETHUSDT+0.0084%8h2,737.1+0.063%$251.4M$842.3M200xas long as short
SunX ETH-USDT+0.0087%8h2,735.8+0.015%$959K$11.2M100xas long as short
MEXC ETH_USDT+0.0093%8h2,736.7+0.048%$1.56B$2.56B500xas long as short
Binance ETHUSDT+0.0093%8h2,736.8+0.053%$6.36B$15.89B150xas long as short
Lighter ETH+0.0096%1h2,737.7+0.084%$112.9M$432.1M50xas long as short
Lighter RH ETH+0.0096%1h2,738.4+0.111%$23.4M$104.2M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,736+0.022%—$30.9M500xas long as short
Aevo ETH-PERP+0.0096%1h2,734.8−0.023%$4.9M$155K20xas long as short
Injective ETH/USDC PERP+0.0096%1h2,737.8+0.089%$117K$22.5M52xas long as short
SoDEX ETH-USD+0.0099%1h2,736.3+0.034%$54.5M$187.7M40xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,740.4+0.183%$15.6M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,736.3+0.034%$506K$3.3M50xas long as short
Nado ETH-PERP+0.0100%1h2,736.4+0.039%$13.7M$104.5M50xas long as short
Hyperliquid ETH+0.0100%1h2,739.4+0.147%$3.11B$2.04B25xas long as short
Pacifica ETH+0.0100%1h2,737.8+0.089%$32.1M$333.7M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,736.2+0.030%$2.7M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,737.3+0.071%$1.5M$15.9M25xas long as short
Gate ETH_USDT+0.0100%8h2,737+0.059%$3.34B$8.88B200xas long as short
Bitget ETHUSDT+0.0100%8h2,736.8+0.052%$2.07B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,736.4+0.036%$15.2M$40.6M50xas long as short
Variational Omni ETHlong+0.0100%8h2,735.4long leg$133.6M$322.1M—
edgeX ETHUSDC+0.0100%4h2,737.2+0.066%$184.1M$670.7M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,735.9+0.020%$159.2M$87.0M50xas long as short
StandX ETH-USD+0.0100%1h2,737.3+0.070%$21.1M$69.3M40xas long as short
Vest ETH-PERP+0.0100%1h2,738.1+0.100%—$844K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,738.9+0.129%$11.2M$9.2M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,737.2+0.066%$21K$20K25xas long as short
Derive ETH-PERPshort+0.0100%1h2,738.7+0.123%$41.3M$29.9M15x
Bulk ETH-USD+0.0100%1h2,739.4+0.146%$170.6M$337.3M25xas long as short
Extended ETH-USD+0.0104%1h2,735.8+0.017%$30.6M$73.0M50xas long as short
RISEx ETH/USDC+0.0107%1h2,737.2+0.067%$5.6M$11.7M25xas long as short
Aftermath Perps ETHUSD+0.0112%1h2,737.7+0.084%$30K$20K20xas long as short
Coinbase International ETH-PERP-INTX+0.0120%1h2,737.4+0.075%$51.1M$4.28B50xas long as short
Kalshi KXETHPERP+0.0139%8h2,737.2+0.067%$6.5M$682.8M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0153%1h2,737.1+0.064%$83.4M$315.1M100xas long as short
Orderly PERP_ETH_USDC+0.0200%8h2,739.1+0.135%$32.2M$11.7M100xas long as short
Reya ETHRUSDPERP+0.0212%1h2,736.7+0.050%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0264%1h2,737.3+0.069%$245K$1.4M20xas long as short
BloFin ETH-USDT+0.0375%8h2,736.7+0.047%$283.5M$175.3M150xas long as short