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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 03:00 UTC−0.0100%/8h= −11.0% APRnext payment −$0.13 per $10,000 · paid last 24h −0.015%
Price spread now: Phoenix against Vest+0.061%7-day average +0.056% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on VestShort on Phoenix
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 4 days (all we have)+0.142%+$14 · spread now +0.061%, 7d avg +0.056%
Together, before fees+0.136%+ Points / potential airdropVest: Active · farm board+$14 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.056%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongVest ETH-PERP2,739.50.0100pay 0.0013% / 1h52m 57s—$843K50x
ShortPhoenix ETH2,741.20get 0.0000% / 1h52m 57s$832K$2.9M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix against Vest. 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
−$21.02
Price spread: +0.061% → +0.056%
$0.51
Slippage, 4 orders
no order book: not counted
Fee Vest: 1 bp × 2 orders
−$2
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$29.51
Costs to cover
0.090%
Break-even
never at this rate
Slippage unknown: Vest: no order-book sample; Phoenix: live order book, 6 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 Phoenix live order book, 6 min ago0.18 bp4.2 bp −$47.6 bp −$7616.7 bp −$1,672doesn'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%43m2,738.4−0.040%$300K$5.5M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,740.3+0.028%$118K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,739.1−0.016%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,739−0.020%$12.0M—200xas long as short
dYdX ETH-USD0.0000%1h2,739.5−0.002%$10.8M$41.7M50xas long as short
01 Exchange ETHUSD0.0000%1h2,739−0.019%$182K$834K50xas long as short
Phoenix ETHshort0.0000%1h2,741.2+0.061%$832K$2.9M25x
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,739.2−0.012%$25.4M—200xas long as short
BingX ETH-USDC+0.0055%8h2,737.9−0.061%—$18.4M—as long as short
Bullet ETH-USD+0.0059%1h2,738.3−0.044%$180K$1.7M20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX ETH-USD+0.0062%1h2,738.5−0.037%$54.5M$187.6M40xas long as short
OKX ETH-USDT-SWAP+0.0070%8h2,738−0.054%$1.68B$10.59B100xas long as short
KuCoin ETHUSDTM+0.0073%8h2,738.3−0.046%$380.6M$573.4M100xas long as short
Aster ETHUSDT+0.0084%8h2,738.4−0.041%$253.2M$840.4M200xas long as short
Aevo ETH-PERP+0.0088%1h2,736.3−0.118%$4.9M$154K20xas long as short
MEXC ETH_USDT+0.0091%8h2,737.6−0.070%$1.56B$2.52B500xas long as short
Binance ETHUSDT+0.0091%8h2,737.6−0.070%$6.36B$15.70B150xas long as short
Lighter ETH+0.0096%1h2,738.7−0.029%$112.5M$431.3M50xas long as short
Lighter RH ETH+0.0096%1h2,740.3+0.027%$24.5M$102.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,739.3−0.010%—$30.5M500xas long as short
RISEx ETH/USDC+0.0099%1h2,739.1−0.017%$5.6M$11.4M25xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,742.4+0.105%$15.8M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,737.9−0.059%$499K$3.2M50xas long as short
Nado ETH-PERP+0.0100%1h2,738.5−0.037%$13.9M$104.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,740.5+0.036%$3.11B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,739−0.019%$31.7M$335.1M50xas long as short
Bybit ETHUSDT+0.0100%8h2,737.8−0.064%$2.43B$4.18B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,738.7−0.030%$2.7M$16.9M25xas long as short
Arcus ETH-USD+0.0100%1h2,738.9−0.023%$2.8M$16.0M25xas long as short
Bulk ETH-USD+0.0100%1h2,740.8+0.045%$166.9M$306.7M25xas long as short
Gate ETH_USDT+0.0100%8h2,738.6−0.035%$3.39B$8.68B200xas long as short
Bitget ETHUSDT+0.0100%8h2,738.2−0.050%$2.08B$2.72B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,738.5−0.039%$15.0M$39.6M50xas long as short
Variational Omni ETH+0.0100%8h2,741+0.052%$133.2M$324.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,739.9+0.012%$182.1M$665.1M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,737.4−0.079%$159.2M$83.8M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,734.9−0.167%$8.7M$30.7M100xas long as short
StandX ETH-USD+0.0100%1h2,740.7+0.043%$21.2M$69.6M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,740+0.017%$11.0M$8.8M50xas long as short
Derive ETH-PERP+0.0100%1h2,740.5+0.036%$41.4M$29.7M15xas long as short
SunX ETH-USDT+0.0100%8h2,737.8−0.063%$961K$11.4M100xas long as short
HTX ETH-USDT+0.0100%8h2,738.4−0.041%$1.06B$1.18B200xas long as short
Phemex ETHUSDT+0.0100%8h2,738.4−0.040%$266.1M$65.1M150xas long as short
Vest ETH-PERPlong+0.0100%1h2,739.5long leg—$843K50x
Extended ETH-USD+0.0104%1h2,737.6−0.069%$30.6M$72.3M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,740.3+0.030%$51.1M$4.26B50xas long as short
Aftermath Perps ETHUSD+0.0126%1h2,740.1+0.022%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0157%8h2,739.2−0.012%$7.7M$672.7M4.9xas long as short
Orderly PERP_ETH_USDC+0.0195%8h2,741+0.055%$32.2M$11.5M100xas long as short
Deribit ETH-PERPETUAL+0.0195%1h2,740.3+0.029%$260.0M$194.8M50xas long as short
BloFin ETH-USDT+0.0211%8h2,738.4−0.041%$285.5M$172.8M150xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,739.4−0.004%$86.0M$309.6M100xas long as short
Reya ETHRUSDPERP+0.0224%1h2,738.2−0.049%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,740.3+0.030%$252K$1.4M20xas long as short
Bluefin ETH-PERP+0.1989%1h2,739.3−0.007%$21K$20K25xas long as short