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Funding arb · Price arb /

ETH

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Alert: spread
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Funding you earn now, next payment 07:00 UTC+0.0187%/8h= +20.5% APRnext payment +$0.23 per $10,000 · paid last 24h +0.008%
Price spread now: Bulk against ApeX Omni−0.005%115s7-day average +0.004% · 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—prices read too far apart to compare
costs, in and out, $10k−$190.195% of the position
Long on ApeX OmniShort on Bulk
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.116%+$12 on $10k
Price spread, last 7 days+0.006%+$1 · spread now −0.005%, 7d avg +0.004%
Together, before fees+0.122%+$12 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.004%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate. The two prices were read 115 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongApeX Omni ETHUSDT2,726.4−0.0087get 0.0011% / 1h31m 43s$8.6M$31.4M100x
ShortBulk ETH-USD2,726.20.0100get 0.0013% / 1h31m 43s$161.6M$349.5M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bulk against ApeX 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
$39.28
Price spread: −0.005% → +0.004%
−$0.95
Slippage, 4 orders
−$2.48
Fee ApeX Omni: 5 bp × 2 orders
−$10
Fee Bulk: 3.5 bp × 2 orders
−$7
Net
$18.84
Costs to cover
0.195%
Break-even
3.6 days
Slippage from ApeX Omni: live order book, 2 min ago; Bulk: live order book, 2 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 ApeX Omni live order book, 2 min ago1.08 bp6.4 bp −$66.9 bp −$6928.3 bp −$2,82752.9 bp −$26.4K
Sell Bulk live order book, 2 min ago0.02 bp3.5 bp −$43.5 bp −$353.5 bp −$3524.2 bp −$2,086

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−0.0112%43m2,726.5+0.007%$288K$5.8M8.3xas long as short
ApeX Omni ETHUSDTlong−0.0087%1h2,726.4long leg$8.6M$31.4M100x
Hotstuff ETH-PERP−0.0080%1h2,727.6+0.046%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0040%1h2,727.6+0.046%$117K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,726.5+0.004%$11.9M—200xas long as short
Phoenix ETH−0.0006%1h2,725.7−0.024%$816K$3.0M25xas long as short
dYdX ETH-USD0.0000%1h2,727.5+0.044%$10.5M$42.9M50xas long as short
Kalshi KXETHPERP0.0000%8h2,727+0.024%$6.6M$688.1M4.9xas long as short
Deribit ETH-PERPETUAL0.0000%1h2,726.7+0.011%$262.6M$215.0M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,726.5+0.004%$32.9M—200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
HTX ETH-USDT+0.0011%8h2,725.8−0.020%$1.05B$1.23B200xas long as short
01 Exchange ETHUSD+0.0016%1h2,728.2+0.068%$191K$893K50xas long as short
BingX ETH-USDC+0.0027%8h2,727.1+0.026%—$18.6M—as long as short
Bybit ETHUSDT+0.0033%8h2,727.9+0.056%$2.34B$4.41B150xas long as short
KuCoin ETHUSDTM+0.0071%8h2,726.8+0.016%$375.5M$577.0M100xas long as short
SoDEX ETH-USD+0.0074%1h2,725.8−0.020%$54.3M$187.3M40xas long as short
Aster ETHUSDT+0.0081%8h2,728.1+0.066%$252.2M$848.8M200xas long as short
SunX ETH-USDT+0.0086%8h2,725.4−0.033%$955K$11.0M100xas long as short
OKX ETH-USDT-SWAP+0.0087%8h2,728+0.061%$1.65B$10.91B100xas long as short
Aevo ETH-PERP+0.0088%1h2,723.5−0.106%$4.9M$167K20xas long as short
MEXC ETH_USDT+0.0089%8h2,728.2+0.069%$1.53B$2.59B500xas long as short
Binance ETHUSDT+0.0089%8h2,727.9+0.058%$6.32B$16.15B150xas long as short
Aftermath Perps ETHUSD+0.0090%1h2,726.8+0.017%$30K$20K20xas long as short
Lighter ETH+0.0096%1h2,727.9+0.056%$112.0M$434.2M50xas long as short
Lighter RH ETH+0.0096%1h2,728.9+0.092%$23.4M$103.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,728.2+0.068%$510K$3.5M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,731.3+0.183%$15.3M$7.9M50xas long as short
Nado ETH-PERP+0.0100%1h2,725.8−0.019%$14.1M$105.1M50xas long as short
Hyperliquid ETH+0.0100%1h2,729.5+0.117%$3.10B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,728.7+0.086%$31.9M$333.7M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,727+0.024%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,728.8+0.090%$1.5M$16.3M25xas long as short
Gate ETH_USDT+0.0100%8h2,728.2+0.069%$3.30B$8.98B200xas long as short
Bitget ETHUSDT+0.0100%8h2,728.1+0.064%$2.08B$2.77B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,726.2−0.007%$15.0M$41.8M50xas long as short
Variational Omni ETH+0.0100%8h2,724.8−0.058%$133.4M$324.2M—as long as short
edgeX ETHUSDC+0.0100%4h2,725.6−0.026%$184.8M$681.4M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,726.7+0.013%$158.4M$87.4M50xas long as short
StandX ETH-USD+0.0100%1h2,727.7+0.050%$21.0M$69.6M40xas long as short
Vest ETH-PERP+0.0100%1h2,727.6+0.046%—$445K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,727.2+0.031%$11.2M$9.5M50xas long as short
Bullet ETH-USD+0.0100%1h2,726−0.012%$178K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,727+0.023%$22K$21K25xas long as short
Derive ETH-PERP+0.0100%1h2,727.3+0.034%$40.9M$30.3M15xas long as short
Phemex ETHUSDT+0.0100%8h2,726−0.013%$262.7M$64.7M150xas long as short
Bulk ETH-USDshort+0.0100%1h2,726.2−0.005%$161.6M$349.5M25x
Extended ETH-USD+0.0104%1h2,727.3+0.033%$30.4M$74.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0056%1h2,727.7+0.050%—$30.5M500xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,727.2+0.029%$49.9M$4.31B50xas long as short
RISEx ETH/USDC+0.0115%1h2,728.7+0.087%$5.6M$11.7M25xas long as short
Orderly PERP_ETH_USDC+0.0186%8h2,728.2+0.069%$32.1M$11.4M100xas long as short
Reya ETHRUSDPERP+0.0191%1h2,725.2−0.044%$7.3M$1.1M25xas long as short
Kraken Futures PF_ETHUSD+0.0211%1h2,726.3−0.001%$82.4M$312.5M100xas long as short
Hibachi ETH/USDT-P+0.0240%1h2,726.1−0.008%$245K$1.4M20xas long as short
BloFin ETH-USDT+0.0359%8h2,727.9+0.056%$281.9M$175.4M150xas long as short