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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 05:14 UTC−0.0479%/8h= −52.4% APRpaid last 24h −0.049%
Price spread now: Perpl against 01 Exchange−0.014%7-day average +0.023% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on 01 ExchangeShort on Perpl
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.014%+$1 on $10k
Price spread, last 7 days+0.032%+$3 · spread now −0.014%, 7d avg +0.023%
Together, before fees+0.046%+ Points / potential airdropPerpl: Active · farm board+$5 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Perpl is 0.037% cheaper against 01 Exchange than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.023%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.014% in total (about 1.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
Long01 Exchange ETHUSD2,720.60.0032pay 0.0004% / 1h32m 24s$186K$787K50x
ShortPerpl ETH2,720.2−0.0447pay 0.0040% / 43m12m 24s$282K$5.7M8.3x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Perpl against 01 Exchange. 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
−$100.49
Price spread: −0.014% → +0.023%
−$3.65
Slippage, 4 orders
no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders
−$7
Fee Perpl: 6.9 bp × 2 orders
−$13.8
Net
−$124.94
Costs to cover
0.208%
Break-even
never at this rate
Slippage unknown: 01 Exchange: live order book, 17 min ago; Perpl: 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 01 Exchange live order book, 17 min ago0.18 bp6.6 bp −$710.4 bp −$104doesn't fitdoesn't fit
Sell Perpl no order-book sample—————
Perpl: 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 ETHshort−0.0447%43m2,720.2−0.014%$282K$5.7M8.3x
Hotstuff ETH-PERP−0.0080%1h2,718.2−0.088%$5K$1K50xas long as short
HTX ETH-USDT−0.0011%8h2,717.6−0.109%$1.05B$1.21B200xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,719.7−0.034%$11.9M—200xas long as short
Phoenix ETH−0.0009%1h2,721.6+0.037%$815K$3.0M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0008%1h2,719.8−0.031%$30.0M—200xas long as short
Injective ETH/USDC PERP+0.0009%1h2,721.5+0.033%$117K$22.5M52xas long as short
dYdX ETH-USD+0.0011%1h2,720.4−0.007%$10.7M$42.0M50xas long as short
Deribit ETH-PERPETUAL+0.0011%1h2,718.9−0.064%$258.7M$206.2M50xas long as short
01 Exchange ETHUSDlong+0.0032%1h2,720.6long leg$186K$787K50x
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDT+0.0033%8h2,719.5−0.041%—$1.14B—as long as short
Bybit ETHUSDT+0.0042%8h2,719.4−0.044%$2.35B$4.41B150xas long as short
SunX ETH-USDT+0.0069%8h2,717.1−0.127%$952K$11.2M100xas long as short
Bullet ETH-USD+0.0070%1h2,719.1−0.055%$179K$1.7M20xas long as short
Aftermath Perps ETHUSD+0.0071%1h2,721.9+0.047%$30K$20K20xas long as short
KuCoin ETHUSDTM+0.0075%8h2,719.4−0.045%$374.6M$577.9M100xas long as short
Aster ETHUSDT+0.0084%8h2,719.5−0.042%$251.6M$843.8M200xas long as short
Aevo ETH-PERP+0.0088%1h2,715.9−0.174%$4.9M$155K20xas long as short
OKX ETH-USDT-SWAP+0.0091%8h2,718.7−0.071%$1.66B$10.78B100xas long as short
Binance ETHUSDT+0.0091%8h2,719.7−0.035%$6.29B$16.07B150xas long as short
MEXC ETH_USDT+0.0092%8h2,719.2−0.053%$1.56B$2.58B500xas long as short
Lighter ETH+0.0096%1h2,720.2−0.014%$111.3M$432.6M50xas long as short
Lighter RH ETH+0.0096%1h2,721.2+0.022%$23.3M$103.2M50xas long as short
Phemex ETHUSDT+0.0100%8h2,718.4−0.081%$262.7M$64.3M150xas long as short
Katana Perps ETH-USD+0.0100%8h2,719.6−0.037%$497K$3.4M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,722.8+0.081%$15.2M$8.0M50xas long as short
Nado ETH-PERP+0.0100%1h2,720.2−0.014%$13.8M$104.9M50xas long as short
Hyperliquid ETH+0.0100%1h2,721.6+0.037%$3.08B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,720.9+0.010%$31.8M$334.4M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,718.6−0.074%$2.7M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,720.8+0.007%$1.5M$16.2M25xas long as short
Bulk ETH-USD+0.0100%1h2,719−0.060%$161.7M$327.3M25xas long as short
Gate ETH_USDT+0.0100%8h2,719.4−0.045%$3.30B$8.94B200xas long as short
Bitget ETHUSDT+0.0100%8h2,719.2−0.053%$2.07B$2.76B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,718−0.095%$14.9M$43.1M50xas long as short
Variational Omni ETH+0.0100%8h2,723.2+0.097%$133.0M$326.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,724.1+0.129%$184.5M$676.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,723.6+0.110%$158.5M$87.0M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,724.6+0.146%$8.6M$31.3M100xas long as short
StandX ETH-USD+0.0100%1h2,718−0.096%$20.9M$71.3M40xas long as short
Vest ETH-PERP+0.0100%1h2,720.6−0.001%—$876K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,720.9+0.011%$11.1M$9.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,719.7−0.033%$22K$21K25xas long as short
Derive ETH-PERP+0.0100%1h2,719−0.060%$40.7M$30.1M15xas long as short
SoDEX ETH-USD+0.0100%1h2,717.8−0.103%$54.1M$187.8M40xas long as short
Extended ETH-USD+0.0104%1h2,719.1−0.054%$30.5M$74.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,720.3−0.010%—$31.3M500xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,719−0.058%$49.7M$4.27B50xas long as short
RISEx ETH/USDC+0.0108%1h2,720.8+0.007%$5.5M$11.8M25xas long as short
Kalshi KXETHPERP+0.0157%8h2,718.5−0.077%$6.4M$691.2M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0177%1h2,718.4−0.081%$82.7M$315.8M100xas long as short
Orderly PERP_ETH_USDC+0.0189%8h2,721.2+0.023%$32.0M$11.4M100xas long as short
Reya ETHRUSDPERP+0.0201%1h2,718.3−0.084%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,720.4−0.008%$248K$1.4M20xas long as short
BloFin ETH-USDT+0.0251%8h2,717.8−0.104%$281.2M$174.1M150xas long as short