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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 08:00 UTC−0.0009%/8h= −1.0% APRnext payment −$0.09 per $10,000 · paid last 24h −0.015%
Price spread now: Phemex against Variational Omni−0.062%7-day average +0.001% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on Variational OmniShort on Phemex
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.033%−$3 on $10k
Price spread, last 4 days (all we have)+0.050%+$5 · spread now −0.062%, 7d avg +0.001%
Together, before fees+0.017%+ Points / potential airdropVariational Omni: Active · farm board+$2 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: Phemex is 0.063% cheaper against Variational Omni than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.001%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongVariational Omni ETH2,732.50.0100pay 0.0100% / 8h1h 03m$134.3M$320.4M—
ShortPhemex ETHUSDT2,730.80.0091get 0.0091% / 8h1h 03m$262.9M$64.5M150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex 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
−$1.82
Price spread: −0.062% → +0.001%
−$6.31
Slippage, 4 orders
no order book: not counted
Fee Variational Omni: 0 bp × 2 orders
$0
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$20.14
Costs to cover
0.120%
Break-even
never at this rate
Slippage unknown: Variational Omni: RFQ quote, just now; Phemex: live order book, 5 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, just now0.48 bpdoesn't fit0.5 bp −$52.1 bp −$209doesn't fit
Sell Phemex live order book, 5 min ago0.02 bp6.0 bp −$66.5 bp −$659.4 bp −$94213.1 bp −$6,565

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
Hotstuff ETH-PERP−0.0080%1h2,734.8+0.083%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0040%1h2,734.2+0.061%$117K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,731.2−0.050%$11.9M—200xas long as short
Phoenix ETH−0.0006%1h2,734.4+0.069%$814K$3.0M25xas long as short
dYdX ETH-USD0.0000%1h2,731.3−0.046%$10.5M$42.8M50xas long as short
Kalshi KXETHPERP0.0000%8h2,731.8−0.027%$6.6M$682.3M4.9xas long as short
Perpl ETH0.0000%43m2,731.6−0.034%$288K$5.8M8.3xas long as short
Deribit ETH-PERPETUAL0.0000%1h2,731.7−0.029%$262.5M$213.2M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,731.2−0.050%$33.0M—200xas long as short
01 Exchange ETHUSD+0.0016%1h2,731.6−0.034%$191K$890K50xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDT+0.0022%8h2,730.9−0.059%—$1.10B—as long as short
ApeX Omni ETHUSDT+0.0025%1h2,731.9−0.021%$8.6M$31.5M100xas long as short
Bybit ETHUSDT+0.0027%8h2,730.6−0.072%$2.33B$4.38B150xas long as short
HTX ETH-USDT+0.0029%8h2,731−0.055%$1.05B$1.22B200xas long as short
KuCoin ETHUSDTM+0.0068%8h2,731.2−0.049%$385.9M$576.7M100xas long as short
SoDEX ETH-USD+0.0071%1h2,730.6−0.071%$54.4M$187.2M40xas long as short
OKX ETH-USDT-SWAP+0.0080%8h2,730.5−0.074%$1.65B$10.86B100xas long as short
Aster ETHUSDT+0.0082%8h2,730.9−0.060%$253.0M$846.8M200xas long as short
Phemex ETHUSDTshort+0.0091%8h2,730.8−0.062%$262.9M$64.5M150x
Bullet ETH-USD+0.0091%1h2,730.7−0.067%$188K$1.7M20xas long as short
Binance ETHUSDT+0.0094%8h2,730.7−0.066%$6.33B$16.11B150xas long as short
MEXC ETH_USDT+0.0095%8h2,730.7−0.066%$1.54B$2.61B500xas long as short
Lighter ETH+0.0096%1h2,731.5−0.038%$112.7M$439.3M50xas long as short
Lighter RH ETH+0.0096%1h2,732.50.000%$23.5M$103.5M50xas long as short
Aevo ETH-PERP+0.0096%1h2,728.5−0.147%$4.9M$171K20xas long as short
Katana Perps ETH-USD+0.0100%8h2,730.8−0.063%$502K$3.5M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,734.8+0.082%$15.4M$7.9M50xas long as short
Nado ETH-PERP+0.0100%1h2,731.3−0.045%$14.2M$104.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,733.4+0.032%$3.11B$2.04B25xas long as short
Pacifica ETH+0.0100%1h2,731.9−0.021%$32.0M$332.9M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,731.3−0.045%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,731.8−0.025%$1.5M$16.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,731.8−0.026%$164.2M$349.6M25xas long as short
Gate ETH_USDT+0.0100%8h2,731.1−0.051%$3.31B$9.05B200xas long as short
Bitget ETHUSDT+0.0100%8h2,731.1−0.051%$2.10B$2.77B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,731.1−0.053%$15.1M$41.7M50xas long as short
Variational Omni ETHlong+0.0100%8h2,732.5long leg$134.3M$320.4M—
edgeX ETHUSDC+0.0100%4h2,731.3−0.044%$185.7M$682.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,732.6+0.004%$158.8M$84.8M50xas long as short
StandX ETH-USD+0.0100%1h2,733.5+0.036%$21.0M$70.3M40xas long as short
Vest ETH-PERP+0.0100%1h2,732.8+0.011%—$445K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,732−0.019%$11.2M$9.5M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,731.9−0.024%$22K$21K25xas long as short
Derive ETH-PERP+0.0100%1h2,732.6+0.004%$40.9M$30.1M15xas long as short
SunX ETH-USDT+0.0100%8h2,730.5−0.074%$957K$10.9M100xas long as short
Aftermath Perps ETHUSD+0.0102%1h2,733.1+0.019%$30K$20K20xas long as short
Extended ETH-USD+0.0104%1h2,730.1−0.089%$30.4M$72.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0056%1h2,731.9−0.021%—$30.5M500xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,731.8−0.026%$46.5M$4.31B50xas long as short
RISEx ETH/USDC+0.0115%1h2,731.7−0.030%$5.6M$11.6M25xas long as short
Hibachi ETH/USDT-P+0.0128%1h2,734.7+0.078%$243K$1.4M20xas long as short
Orderly PERP_ETH_USDC+0.0185%8h2,732.9+0.015%$32.2M$11.3M100xas long as short
Reya ETHRUSDPERP+0.0187%1h2,729.9−0.095%$7.3M$975K25xas long as short
Kraken Futures PF_ETHUSD+0.0211%1h2,731.1−0.053%$82.1M$309.7M100xas long as short
BloFin ETH-USDT+0.0359%8h2,731.7−0.031%$281.4M$176.1M150xas long as short