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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 00:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.04 per $10,000 · paid last 24h 0.000%
Price spread now: Katana Perps against Variational Omni−0.017%7-day average −0.042% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on Variational OmniShort on Katana Perps
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.006%+$1 on $10k
Price spread, last 7 days−0.003%$0 · spread now −0.017%, 7d avg −0.042%
Together, before fees+0.003%+ Points / potential airdropVariational Omni: Active · farm board$0 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: Katana Perps is 0.026% dearer against Variational Omni than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.042%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongVariational Omni ETH2,776.80.0096pay 0.0096% / 8h2h 15m$141.1M$320.7M—
ShortKatana Perps ETH-USD2,776.30.0100get 0.0100% / 8h2h 15m$488K$2.7M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Katana Perps against Variational Omni. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$0.84
Price spread: −0.017% → −0.042%
$2.55
Slippage, 4 orders
no order book: not counted
Fee Variational Omni: 0 bp × 2 orders
$0
Fee Katana Perps: 1.9 bp × 2 orders
−$3.8
Net
−$0.41
Costs to cover
0.038%
Break-even
10.4 days
Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Katana Perps: 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 ago0.47 bpdoesn't fit0.5 bp −$50.9 bp −$90doesn't fit
Sell Katana Perps no order-book sample—————
Katana Perps: 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−0.0112%43m2,776.2−0.021%$289K$6.9M8.3xas long as short
Injective ETH/USDC PERP−0.0107%1h2,776.6−0.006%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,776.6−0.006%$5K$2K50xas long as short
01 Exchange ETHUSD−0.0048%1h2,776.1−0.024%$172K$1.2M50xas long as short
Phoenix ETH−0.0023%1h2,780+0.117%$859K$3.7M25xas long as short
RISEx ETH/USDC−0.0011%1h2,775.7−0.040%$5.8M$11.7M25xas long as short
dYdX ETH-USD0.0000%1h2,777+0.008%$12.7M$45.5M50xas long as short
Aftermath Perps ETHUSD+0.0002%1h2,776.9+0.004%$29K$22K20xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,777.5+0.028%$22.4M—200xas long as short
Phemex ETHUSDT+0.0014%8h2,776.4−0.014%$267.4M$66.0M150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0022%8h2,775.5−0.044%$1.71B$11.91B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0028% / S +0.0009%1h2,777.5+0.025%$13.2M—200xas long as short
ApeX Omni ETHUSDT+0.0036%1h2,777.7+0.032%$8.8M$32.6M100xas long as short
Aster ETHUSDT+0.0040%8h2,776.7−0.003%$256.8M$995.6M200xas long as short
Deribit ETH-PERPETUAL+0.0042%1h2,777.9+0.039%$258.5M$225.0M50xas long as short
Aevo ETH-PERP+0.0048%1h2,774.9−0.067%$5.0M$636K20xas long as short
MEXC ETH_USDT+0.0050%8h2,776.9+0.005%$1.60B$2.68B500xas long as short
Binance ETHUSDT+0.0052%8h2,776.9+0.005%$6.45B$17.23B150xas long as short
Gate ETH_USDT+0.0075%8h2,776.1−0.024%$3.28B$9.68B200xas long as short
Bitget ETHUSDT+0.0075%8h2,775.6−0.041%$2.10B$3.13B150xas long as short
Bullet ETH-USD+0.0085%1h2,776.8+0.001%$183K$1.8M20xas long as short
Variational Omni ETHlong+0.0096%8h2,776.8long leg$141.1M$320.7M—
Lighter ETH+0.0096%1h2,776.7−0.001%$115.1M$514.7M50xas long as short
Lighter RH ETH+0.0096%1h2,778.2+0.050%$25.4M$123.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,776.9+0.006%—$41.7M500xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,775.8−0.035%$15.9M$10.8M50xas long as short
Katana Perps ETH-USDshort+0.0100%8h2,776.3−0.017%$488K$2.7M50x
Nado ETH-PERP+0.0100%1h2,775.5−0.044%$15.3M$117.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,778.5+0.063%$3.20B$2.40B25xas long as short
Pacifica ETH+0.0100%1h2,776.7−0.002%$31.3M$289.2M50xas long as short
Bybit ETHUSDT+0.0100%8h2,776.7−0.002%$2.52B$4.64B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,775.9−0.031%$2.9M$16.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,777.5+0.025%$2.8M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,778.1+0.048%$165.4M$253.6M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,775.6−0.044%$423.2M$741.8M100xas long as short
BingX ETH-USDT+0.0100%8h2,776.8+0.002%—$1.18B—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,776.2−0.019%$15.4M$42.9M50xas long as short
edgeX ETHUSDC+0.0100%4h2,777.2+0.016%$179.9M$795.1M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,779.2+0.088%$161.6M$97.4M50xas long as short
StandX ETH-USD+0.0100%1h2,777.7+0.034%$21.4M$57.8M40xas long as short
Vest ETH-PERP+0.0100%1h2,776.9+0.005%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,777.3+0.019%$10.8M$7.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,777.5+0.025%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,778.6+0.065%$42.7M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,778.3+0.054%$974K$14.2M100xas long as short
SoDEX ETH-USD+0.0100%1h2,776.2−0.020%$55.3M$228.5M40xas long as short
HTX ETH-USDT+0.0100%8h2,776−0.027%$1.08B$1.32B200xas long as short
Extended ETH-USD+0.0104%1h2,775.5−0.045%$31.4M$75.6M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,777.6+0.031%$60.0M$4.63B50xas long as short
Kalshi KXETHPERP+0.0121%8h2,779.8+0.109%$8.5M$674.1M4.9xas long as short
Orderly PERP_ETH_USDC+0.0135%8h2,779.2+0.089%$32.6M$12.0M100xas long as short
BloFin ETH-USDT+0.0170%8h2,778.9+0.077%$284.7M$196.1M150xas long as short
Reya ETHRUSDPERP+0.0184%1h2,775.8−0.036%$7.4M$1.1M25xas long as short
Kraken Futures PF_ETHUSD+0.0240%1h2,777.5+0.028%$86.8M$330.9M100xas long as short
Hibachi ETH/USDT-P+0.0448%1h2,780+0.115%$282K$1.5M20xas long as short