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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 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.001%
Price spread now: Phemex against 01 Exchange−0.020%7-day average −0.026% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$26as in the Price arb table
costs, in and out, $10k−$270.270% of the position
Long on 01 ExchangeShort on Phemex
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.029%+$3 on $10k
Price spread, last 4 days (all we have)−0.175%−$17 · spread now −0.020%, 7d avg −0.026%
Together, before fees−0.146%−$15 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.026%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
Long01 Exchange ETHUSD2,7390get 0.0000% / 1h53m 01s$182K$834K50x
ShortPhemex ETHUSDT2,738.40.0100get 0.0100% / 8h4h 53m$266.1M$65.1M150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex 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
$21
Price spread: −0.020% → −0.026%
$0.52
Slippage, 4 orders
−$7.96
Fee 01 Exchange: 3.5 bp × 2 orders
−$7
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$5.45
Costs to cover
0.270%
Break-even
8.8 days
Slippage from 01 Exchange: live order book, 6 min ago; Phemex: live order book, 6 min ago.

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, 6 min ago0.18 bp6.2 bp −$610.4 bp −$104doesn't fitdoesn't fit
Sell Phemex live order book, 6 min ago0.02 bp6.0 bp −$68.2 bp −$8213.0 bp −$1,30017.0 bp −$8,503

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%43m2,738.4−0.021%$300K$5.5M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,740.3+0.047%$118K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,739.1+0.004%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,739−0.001%$12.0M—200xas long as short
dYdX ETH-USD0.0000%1h2,739.5+0.017%$10.8M$41.7M50xas long as short
01 Exchange ETHUSDlong0.0000%1h2,739long leg$182K$834K50x
Phoenix ETH0.0000%1h2,741.2+0.080%$832K$2.9M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,739.2+0.007%$25.4M—200xas long as short
BingX ETH-USDT+0.0055%8h2,738.3−0.026%—$1.14B—as long as short
Bullet ETH-USD+0.0059%1h2,738.3−0.025%$180K$1.7M20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX ETH-USD+0.0062%1h2,738.5−0.018%$54.5M$187.6M40xas long as short
OKX ETH-USDT-SWAP+0.0070%8h2,738.4−0.021%$1.68B$10.59B100xas long as short
KuCoin ETHUSDTM+0.0073%8h2,738.6−0.014%$380.7M$573.4M100xas long as short
Aster ETHUSDT+0.0084%8h2,738.7−0.010%$253.2M$840.4M200xas long as short
Aevo ETH-PERP+0.0088%1h2,736.3−0.099%$4.9M$154K20xas long as short
MEXC ETH_USDT+0.0091%8h2,738.1−0.031%$1.56B$2.52B500xas long as short
Binance ETHUSDT+0.0091%8h2,738.1−0.032%$6.36B$15.70B150xas long as short
Lighter ETH+0.0096%1h2,738.7−0.010%$112.5M$431.3M50xas long as short
Lighter RH ETH+0.0096%1h2,740.3+0.046%$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+0.002%$5.6M$11.4M25xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,742.4+0.124%$15.8M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,737.9−0.040%$499K$3.2M50xas long as short
Nado ETH-PERP+0.0100%1h2,738.5−0.017%$13.9M$104.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,740.5+0.055%$3.11B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,7390.000%$31.7M$335.1M50xas long as short
Bybit ETHUSDT+0.0100%8h2,738.2−0.029%$2.43B$4.18B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,738.7−0.011%$2.7M$16.9M25xas long as short
Arcus ETH-USD+0.0100%1h2,738.9−0.004%$2.8M$16.0M25xas long as short
Bulk ETH-USD+0.0100%1h2,740.8+0.064%$166.9M$306.7M25xas long as short
Gate ETH_USDT+0.0100%8h2,738.6−0.016%$3.39B$8.68B200xas long as short
Bitget ETHUSDT+0.0100%8h2,738.4−0.022%$2.08B$2.72B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,738.5−0.020%$15.0M$39.6M50xas long as short
Variational Omni ETH+0.0100%8h2,741+0.071%$133.2M$324.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,739.9+0.031%$182.1M$665.1M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,737.4−0.060%$159.2M$83.8M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,734.9−0.148%$8.7M$30.7M100xas long as short
StandX ETH-USD+0.0100%1h2,740.7+0.062%$21.2M$69.6M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,740+0.037%$11.0M$8.8M50xas long as short
Derive ETH-PERP+0.0100%1h2,740.5+0.055%$41.4M$29.7M15xas long as short
SunX ETH-USDT+0.0100%8h2,737.8−0.043%$961K$11.4M100xas long as short
HTX ETH-USDT+0.0100%8h2,738.4−0.022%$1.06B$1.18B200xas long as short
Phemex ETHUSDTshort+0.0100%8h2,738.4−0.020%$266.1M$65.1M150x
Vest ETH-PERP+0.0100%1h2,739.5+0.019%—$843K50xas long as short
Extended ETH-USD+0.0104%1h2,738.1−0.034%$30.6M$72.3M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,740.3+0.049%$51.1M$4.26B50xas long as short
Aftermath Perps ETHUSD+0.0126%1h2,740.1+0.041%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0157%8h2,739.2+0.007%$7.7M$672.7M4.9xas long as short
Orderly PERP_ETH_USDC+0.0195%8h2,741+0.074%$32.2M$11.5M100xas long as short
Deribit ETH-PERPETUAL+0.0195%1h2,740.3+0.048%$260.0M$194.8M50xas long as short
BloFin ETH-USDT+0.0211%8h2,738.4−0.022%$285.5M$172.8M150xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,739.4+0.015%$86.0M$309.6M100xas long as short
Reya ETHRUSDPERP+0.0224%1h2,738.2−0.030%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,740.3+0.049%$252K$1.4M20xas long as short
Bluefin ETH-PERP+0.1989%1h2,739.3+0.012%$21K$20K25xas long as short