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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 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%
Price spread now: Backpack against Vest+0.004%7-day average −0.038% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on VestShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.016%+$2 on $10k
Price spread, last 4 days (all we have)−0.315%−$32 · spread now +0.004%, 7d avg −0.038%
Together, before fees−0.300%+ Points / potential airdropVest: Active · farm board−$30 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: Backpack is 0.042% dearer against Vest than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.038%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongVest ETH-PERP2,736.20.0100pay 0.0013% / 1h31m 47s—$843K50x
ShortBackpack ETH_USDC_PERP2,736.40.0100get 0.0013% / 1h31m 47s$15.0M$39.7M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against Vest. 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
Price spread: +0.004% → −0.038%
$4.17
Slippage, 4 orders
no order book: not counted
Fee Vest: 1 bp × 2 orders
−$2
Fee Backpack: 5 bp × 2 orders
−$10
Net
−$7.83
Costs to cover
0.120%
Break-even
never at this rate
Slippage unknown: Vest: no order-book sample; Backpack: 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 Vest no order-book sample—————
Sell Backpack live order book, 2 min ago0.02 bp5.0 bp −$56.5 bp −$6529.5 bp −$2,953doesn't fit
Vest: 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%43m2,735.2−0.038%$298K$5.6M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,730.9−0.195%$117K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,735.9−0.013%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,736.4+0.007%$12.0M—200xas long as short
dYdX ETH-USD0.0000%1h2,737.5+0.047%$10.8M$41.7M50xas long as short
01 Exchange ETHUSD0.0000%1h2,736.3+0.002%$188K$821K50xas long as short
Phoenix ETH0.0000%1h2,732−0.155%$829K$2.9M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,736.5+0.010%$27.9M—200xas long as short
Bullet ETH-USD+0.0007%1h2,735.8−0.015%$179K$1.7M20xas long as short
ApeX Omni ETHUSDT+0.0044%1h2,731.3−0.179%$8.9M$31.3M100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDT+0.0058%8h2,736.9+0.023%—$1.14B—as long as short
HTX ETH-USDT+0.0063%8h2,735−0.046%$1.06B$1.19B200xas long as short
KuCoin ETHUSDTM+0.0067%8h2,736.6+0.012%$380.2M$575.1M100xas long as short
OKX ETH-USDT-SWAP+0.0070%8h2,737.2+0.033%$1.67B$10.73B100xas long as short
Phemex ETHUSDT+0.0071%8h2,736.2−0.004%$265.9M$65.4M150xas long as short
Bybit ETHUSDT+0.0071%8h2,737+0.029%$2.39B$4.35B150xas long as short
SoDEX ETH-USD+0.0072%1h2,736.1−0.005%$54.5M$187.7M40xas long as short
Aster ETHUSDT+0.0084%8h2,737+0.029%$251.1M$843.8M200xas long as short
MEXC ETH_USDT+0.0087%8h2,737.1+0.032%$1.53B$2.56B500xas long as short
Aevo ETH-PERP+0.0088%1h2,733.3−0.108%$4.9M$155K20xas long as short
Binance ETHUSDT+0.0090%8h2,737.4+0.042%$6.35B$15.87B150xas long as short
Lighter ETH+0.0096%1h2,737.8+0.058%$113.2M$438.5M50xas long as short
Lighter RH ETH+0.0096%1h2,739+0.100%$23.4M$106.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,736.20.000%—$30.8M500xas long as short
Paradex ETH-USD-PERP+0.0098%8h2,739.3+0.111%$15.5M$8.1M50xas long as short
RISEx ETH/USDC+0.0099%1h2,736.4+0.005%$5.6M$11.5M25xas long as short
Katana Perps ETH-USD+0.0100%8h2,735.4−0.031%$500K$3.2M50xas long as short
Nado ETH-PERP+0.0100%1h2,735.4−0.030%$13.8M$104.4M50xas long as short
Hyperliquid ETH+0.0100%1h2,739.4+0.115%$3.11B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,736.3+0.002%$32.0M$334.3M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,732.3−0.144%$2.7M$17.0M25xas long as short
Arcus ETH-USD+0.0100%1h2,736.2−0.001%$1.6M$16.3M25xas long as short
Bulk ETH-USD+0.0100%1h2,728.7−0.277%$166.6M$310.3M25xas long as short
Gate ETH_USDT+0.0100%8h2,737.1+0.030%$3.35B$8.87B200xas long as short
Bitget ETHUSDT+0.0100%8h2,737.4+0.042%$2.07B$2.75B150xas long as short
Backpack ETH_USDC_PERPshort+0.0100%1h2,736.4+0.004%$15.0M$39.7M50x
Variational Omni ETH+0.0100%8h2,726.6−0.354%$133.1M$325.4M—as long as short
edgeX ETHUSDC+0.0100%4h2,729.6−0.241%$183.6M$671.6M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,730.3−0.218%$158.8M$86.8M50xas long as short
StandX ETH-USD+0.0100%1h2,730.8−0.199%$21.1M$68.7M40xas long as short
Vest ETH-PERPlong+0.0100%1h2,736.2long leg—$843K50x
Polymarket Perps ETH-USD+0.0100%1h2,737.6+0.049%$11.2M$9.1M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,736.1−0.007%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,737.6+0.051%$41.3M$29.8M15xas long as short
SunX ETH-USDT+0.0100%8h2,735.1−0.041%$958K$11.4M100xas long as short
Deribit ETH-PERPETUAL+0.0101%1h2,737.5+0.046%$260.2M$196.6M50xas long as short
Extended ETH-USD+0.0104%1h2,736.2−0.002%$30.3M$72.7M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,737.7+0.054%$51.3M$4.27B50xas long as short
Aftermath Perps ETHUSD+0.0120%1h2,732.4−0.139%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0145%8h2,736−0.009%$6.6M$678.5M4.9xas long as short
Orderly PERP_ETH_USDC+0.0193%8h2,738.6+0.085%$32.2M$11.5M100xas long as short
Reya ETHRUSDPERP+0.0221%1h2,735.2−0.038%$7.3M$1.2M25xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,737+0.027%$83.5M$314.8M100xas long as short
Hibachi ETH/USDT-P+0.0256%1h2,734.9−0.048%$253K$1.4M20xas long as short
BloFin ETH-USDT+0.0350%8h2,734−0.082%$283.4M$175.7M150xas long as short