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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 08:00 UTC+0.0095%/8h= +10.4% APRnext payment +$0.95 per $10,000 · paid last 24h +0.028%
Price spread now: Orderly against Variational Omni+0.178%7-day average +0.084% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Variational OmniShort on Orderly
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.072%+$7 on $10k
Price spread, last 4 days (all we have)−0.405%−$41 · spread now +0.178%, 7d avg +0.084%
Together, before fees−0.334%+ Points / potential airdropVariational Omni: Active · farm board−$33 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Orderly is 0.094% dearer against Variational Omni than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.084%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongVariational Omni ETH2,7390.0100pay 0.0100% / 8h4h 56m$133.0M$324.9M—
ShortOrderly PERP_ETH_USDC2,743.80.0195get 0.0195% / 8h4h 56m$32.3M$11.5M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Orderly 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
$19.88
Price spread: +0.178% → +0.084%
$9.36
Slippage, 4 orders
no order book: not counted
Fee Variational Omni: 0 bp × 2 orders
$0
Fee Orderly: 3 bp × 2 orders
−$6
Net
$23.24
Costs to cover
0.060%
Break-even
from the start
Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Orderly: 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, 3 min ago0.57 bpdoesn't fit0.6 bp −$62.6 bp −$258doesn't fit
Sell Orderly no order-book sample—————
Orderly: 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
Injective ETH/USDC PERP−0.0141%1h2,736.3−0.097%$117K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,739.6+0.024%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,741.8+0.106%$12.0M—200xas long as short
dYdX ETH-USD0.0000%1h2,741.3+0.085%$10.8M$41.7M50xas long as short
01 Exchange ETHUSD0.0000%1h2,742.5+0.129%$182K$834K50xas long as short
Perpl ETH0.0000%43m2,741.3+0.085%$300K$5.5M8.3xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,742+0.112%$25.3M—200xas long as short
Phoenix ETH+0.0017%1h2,739+0.002%$844K$2.9M25xas long as short
ApeX Omni ETHUSDT+0.0039%1h2,740.1+0.040%$8.8M$30.7M100xas long as short
BingX ETH-USDC+0.0055%8h2,741+0.075%—$18.4M—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0069%8h2,741.8+0.104%$1.69B$10.61B100xas long as short
Bullet ETH-USD+0.0071%1h2,741.1+0.078%$180K$1.7M20xas long as short
KuCoin ETHUSDTM+0.0071%8h2,741.7+0.100%$380.9M$573.7M100xas long as short
SoDEX ETH-USD+0.0073%1h2,741.3+0.086%$54.6M$187.6M40xas long as short
Aster ETHUSDT+0.0082%8h2,741.7+0.100%$253.6M$840.6M200xas long as short
Aevo ETH-PERP+0.0088%1h2,738.8−0.004%$4.9M$154K20xas long as short
Binance ETHUSDT+0.0089%8h2,741.6+0.098%$6.37B$15.71B150xas long as short
MEXC ETH_USDT+0.0090%8h2,741.5+0.093%$1.56B$2.52B500xas long as short
Lighter ETH+0.0096%1h2,741.9+0.106%$112.4M$430.3M50xas long as short
Lighter RH ETH+0.0096%1h2,743.1+0.150%$24.6M$102.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,739.7+0.028%—$30.5M500xas long as short
RISEx ETH/USDC+0.0099%1h2,741.6+0.097%$5.6M$11.4M25xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,744.6+0.204%$15.8M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,740.1+0.042%$500K$3.1M50xas long as short
Nado ETH-PERP+0.0100%1h2,742.1+0.116%$13.9M$104.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,743.7+0.173%$3.11B$2.06B25xas long as short
Pacifica ETH+0.0100%1h2,741.1+0.078%$31.7M$335.1M50xas long as short
Bybit ETHUSDT+0.0100%8h2,741.4+0.090%$2.43B$4.19B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,740.6+0.060%$2.7M$16.9M25xas long as short
Arcus ETH-USD+0.0100%1h2,741.5+0.092%$2.8M$16.0M25xas long as short
Bulk ETH-USD+0.0100%1h2,739.7+0.028%$165.8M$302.8M25xas long as short
Gate ETH_USDT+0.0100%8h2,742.2+0.119%$3.38B$8.67B200xas long as short
Bitget ETHUSDT+0.0100%8h2,741.8+0.102%$2.08B$2.72B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,741.6+0.096%$15.0M$39.6M50xas long as short
Variational Omni ETHlong+0.0100%8h2,739long leg$133.0M$324.9M—
edgeX ETHUSDC+0.0100%4h2,738.7−0.008%$182.0M$667.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,738.8−0.006%$159.2M$83.5M50xas long as short
StandX ETH-USD+0.0100%1h2,738.8−0.006%$21.2M$69.5M40xas long as short
Vest ETH-PERP+0.0100%1h2,741.7+0.100%—$843K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,742.7+0.137%$11.0M$8.8M50xas long as short
Derive ETH-PERP+0.0100%1h2,743.2+0.154%$41.4M$29.7M15xas long as short
SunX ETH-USDT+0.0100%8h2,740.9+0.072%$960K$11.4M100xas long as short
HTX ETH-USDT+0.0100%8h2,741.5+0.092%$1.06B$1.18B200xas long as short
Phemex ETHUSDT+0.0100%8h2,741.7+0.098%$266.4M$65.2M150xas long as short
Extended ETH-USD+0.0104%1h2,741+0.074%$30.6M$72.3M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,743.2+0.155%$53.1M$4.26B50xas long as short
Aftermath Perps ETHUSD+0.0132%1h2,740.3+0.049%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0158%8h2,740.7+0.064%$7.6M$672.6M4.9xas long as short
Deribit ETH-PERPETUAL+0.0191%1h2,743.1+0.152%$260.0M$194.9M50xas long as short
Orderly PERP_ETH_USDCshort+0.0195%8h2,743.8+0.178%$32.3M$11.5M100x
BloFin ETH-USDT+0.0210%8h2,737.7−0.048%$285.5M$175.3M150xas long as short
Kraken Futures PF_ETHUSD+0.0221%1h2,742.3+0.121%$86.0M$309.8M100xas long as short
Reya ETHRUSDPERP+0.0225%1h2,741.2+0.081%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,739.3+0.013%$251K$1.4M20xas long as short
Bluefin ETH-PERP+0.4134%1h2,742.4+0.126%$21K$20K25xas long as short