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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 00:00 UTC+0.0024%/8h= +2.6% APRnext payment +$0.24 per $10,000 · paid last 24h −0.017%
Price spread now: Kalshi against Variational Omni+0.096%7-day average −0.012% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Variational OmniShort on Kalshi
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.039%−$4 on $10k
Price spread, last 7 days−0.048%−$5 · spread now +0.096%, 7d avg −0.012%
Together, before fees−0.087%+ Points / potential airdropVariational Omni: Active · farm board−$9 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Kalshi is 0.108% dearer against Variational Omni than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.012%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongVariational Omni ETH2,769.80.0091pay 0.0091% / 8h2h 46m$141.1M$319.9M—
ShortKalshi KXETHPERP2,772.50.0115get 0.0115% / 8h6h 46m$8.6M$670.5M4.9x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kalshi 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
$5.07
Price spread: +0.096% → −0.012%
$10.82
Slippage, 4 orders
no order book: not counted
Fee Variational Omni: 0 bp × 2 orders
$0
Fee Kalshi: 5 bp × 2 orders
−$10
Net
$5.89
Costs to cover
0.100%
Break-even
from the start
Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Kalshi: live order book, 2 min ago. 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, 2 min ago0.52 bpdoesn't fit1.0 bp −$103.1 bp −$309doesn't fit
Sell Kalshi live order book, 2 min ago0.36 bp5.8 bp −$67.0 bp −$7010.4 bp −$1,04117.1 bp −$8,567

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%43m2,771.7+0.068%$289K$6.9M8.3xas long as short
ApeX Omni ETHUSDT−0.0178%1h2,769.3−0.020%$10.5M$31.0M100xas long as short
Injective ETH/USDC PERP−0.0107%1h2,770.7+0.031%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,772+0.078%$5K$2K50xas long as short
01 Exchange ETHUSD−0.0072%1h2,771.8+0.071%$172K$1.2M50xas long as short
Phoenix ETH−0.0023%1h2,771.8+0.071%$796K$3.7M25xas long as short
RISEx ETH/USDC−0.0011%1h2,771.9+0.073%$5.8M$11.9M25xas long as short
dYdX ETH-USD0.0000%1h2,772.5+0.097%$12.9M$45.2M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,772.3+0.090%$22.4M—200xas long as short
Phemex ETHUSDT+0.0018%8h2,771.7+0.066%$266.7M$65.9M150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0022%8h2,770.5+0.023%$1.70B$11.84B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0027% / S +0.0009%1h2,772.2+0.084%$13.1M—200xas long as short
Aftermath Perps ETHUSD+0.0031%1h2,772.8+0.107%$29K$21K20xas long as short
Aevo ETH-PERP+0.0040%1h2,769.5−0.011%$5.0M$636K20xas long as short
MEXC ETH_USDT+0.0043%8h2,772.3+0.089%$1.60B$2.63B500xas long as short
Aster ETHUSDT+0.0043%8h2,772+0.080%$256.0M$995.4M200xas long as short
Binance ETHUSDT+0.0044%8h2,770.3+0.015%$6.44B$17.18B150xas long as short
Gate ETH_USDT+0.0058%8h2,772.2+0.086%$3.29B$9.55B200xas long as short
Bitget ETHUSDT+0.0073%8h2,771.5+0.061%$2.09B$3.13B150xas long as short
Bullet ETH-USD+0.0078%1h2,771.3+0.053%$187K$1.8M20xas long as short
Variational Omni ETHlong+0.0091%8h2,769.8long leg$141.1M$319.9M—
SoDEX ETH-USD+0.0091%1h2,771.6+0.064%$55.2M$228.6M40xas long as short
Lighter ETH+0.0096%1h2,770.9+0.037%$115.1M$508.8M50xas long as short
Lighter RH ETH+0.0096%1h2,772.3+0.088%$25.3M$121.8M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,772.2+0.086%—$41.9M500xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,771.6+0.062%$15.9M$10.9M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,771.8+0.071%$481K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,771.2+0.051%$16.1M$114.9M50xas long as short
Hyperliquid ETH+0.0100%1h2,774.4+0.165%$3.20B$2.38B25xas long as short
Pacifica ETH+0.0100%1h2,772+0.078%$31.3M$283.2M50xas long as short
Bybit ETHUSDT+0.0100%8h2,770.7+0.030%$2.51B$4.63B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,770.9+0.039%$2.9M$16.5M25xas long as short
Arcus ETH-USD+0.0100%1h2,773.8+0.142%$2.8M$17.5M25xas long as short
Bulk ETH-USD+0.0100%1h2,770.8+0.036%$164.5M$255.4M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,772+0.078%$425.2M$744.0M100xas long as short
BingX ETH-USDC+0.0100%8h2,771.8+0.072%—$17.3M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,772.4+0.092%$15.4M$42.4M50xas long as short
edgeX ETHUSDC+0.0100%4h2,769.4−0.017%$178.2M$790.5M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,769.5−0.011%$161.1M$97.4M50xas long as short
StandX ETH-USD+0.0100%1h2,771.2+0.050%$21.4M$57.5M40xas long as short
Vest ETH-PERP+0.0100%1h2,772.1+0.082%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,772.8+0.107%$10.8M$7.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,772.3+0.088%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,773.9+0.146%$42.8M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,770.3+0.015%$970K$14.3M100xas long as short
HTX ETH-USDT+0.0100%8h2,770.6+0.027%$1.08B$1.32B200xas long as short
Extended ETH-USD+0.0104%1h2,771.8+0.072%$31.4M$76.1M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,773.3+0.125%$60.1M$4.64B50xas long as short
Kalshi KXETHPERPshort+0.0115%8h2,772.5+0.096%$8.6M$670.5M4.9x
Orderly PERP_ETH_USDC+0.0129%8h2,774.6+0.173%$32.5M$11.8M100xas long as short
BloFin ETH-USDT+0.0164%8h2,771.7+0.066%$287.0M$195.7M150xas long as short
Deribit ETH-PERPETUAL+0.0183%1h2,773.7+0.139%$259.0M$223.0M50xas long as short
Reya ETHRUSDPERP+0.0191%1h2,770.7+0.031%$7.5M$1.0M25xas long as short
Kraken Futures PF_ETHUSD+0.0240%1h2,773+0.114%$88.5M$329.9M100xas long as short
Hibachi ETH/USDT-P+0.0384%1h2,770.9+0.039%$273K$1.5M20xas long as short