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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 20:00 UTC0.0000%/8hpaid last 24h −0.006%
Price spread now: KuCoin against Backpack−0.067%7-day average +0.031% · you buy dearer than you sell
Net, funding: paid 7d − costs−$34as in the Funding arb table
Net, price: spread back to 7d avg − costs−$32as in the Price arb table
costs, in and out, $10k−$230.225% of the position
Long on BackpackShort on KuCoin
What this pair did over the last
the charts below follow
Funding, last 7 days−0.117%−$12 on $10k
Price spread, last 7 days+1.050%+$105 · spread now −0.067%, 7d avg +0.031%
Together, before fees+0.933%+$93 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: KuCoin is 0.098% cheaper against Backpack than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.031%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack ETH_USDC_PERP2,7590.0100pay 0.0013% / 1h5m 31s$15.3M$41.9M50x
ShortKuCoin ETHUSDTM2,757.10.0100get 0.0100% / 8h4h 05m$414.7M$711.1M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

KuCoin against Backpack. 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
$0
Price spread: −0.067% → +0.031%
−$9.82
Slippage, 4 orders
−$0.55
Fee Backpack: 5 bp × 2 orders
−$10
Fee KuCoin: 6 bp × 2 orders
−$12
Net
−$32.37
Costs to cover
0.225%
Break-even
never at this rate
Slippage from Backpack: live order book, 3 min ago; KuCoin: live order book, 3 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 Backpack live order book, 3 min ago0.02 bp5.2 bp −$58.2 bp −$8231.5 bp −$3,153doesn't fit
Sell KuCoin live order book, 3 min ago0.02 bp6.0 bp −$68.2 bp −$8211.1 bp −$1,110doesn't fit

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
Injective ETH/USDC PERP−0.0208%1h2,761.8+0.103%$119K$22.5M52xas long as short
Perpl ETH−0.0112%43m2,759.9+0.033%$269K$6.6M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,758.7−0.009%$5K$2K50xas long as short
SoDEX ETH-USD−0.0021%1h2,758.6−0.013%$55.6M$184.4M40xas long as short
Phoenix ETH−0.0003%1h2,762.9+0.143%$928K$3.1M25xas long as short
dYdX ETH-USD0.0000%1h2,757.8−0.040%$13.5M$42.2M50xas long as short
Deribit ETH-PERPETUAL+0.0004%1h2,761.1+0.078%$258.3M$209.3M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,760.5+0.055%$22.3M—200xas long as short
Bulk ETH-USD+0.0012%1h2,762.6+0.132%$165.0M$265.6M25xas long as short
ApeX Omni ETHUSDT+0.0016%1h2,761.5+0.091%$8.4M$28.8M100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0016%8h2,754.4−0.166%$1.73B$11.29B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0021% / S +0.0013%1h2,760.5+0.055%$12.3M—200xas long as short
Bullet ETH-USD+0.0022%1h2,759.2+0.008%$194K$1.8M20xas long as short
01 Exchange ETHUSD+0.0024%1h2,757.5−0.053%$178K$1.2M50xas long as short
Phemex ETHUSDT+0.0032%8h2,759.1+0.007%$266.7M$64.5M150xas long as short
MEXC ETH_USDT+0.0038%8h2,756.1−0.104%$1.61B$2.48B500xas long as short
Binance ETHUSDT+0.0039%8h2,756.2−0.100%$6.56B$16.33B150xas long as short
Aevo ETH-PERP+0.0040%1h2,757.3−0.060%$5.0M$651K20xas long as short
RISEx ETH/USDC+0.0044%1h2,757.6−0.049%$5.8M$12.2M25xas long as short
Gate ETH_USDT+0.0049%8h2,756.6−0.085%$3.34B$9.26B200xas long as short
Aster ETHUSDT+0.0057%8h2,757.6−0.049%$267.9M$947.7M200xas long as short
Aftermath Perps ETHUSD+0.0071%1h2,763.3+0.157%$29K$20K20xas long as short
Bitget ETHUSDT+0.0072%8h2,754.6−0.158%$2.09B$3.01B150xas long as short
Variational Omni ETH+0.0089%8h2,762.2+0.119%$140.0M$304.0M—as long as short
Lighter ETH+0.0096%1h2,757.2−0.063%$115.0M$498.9M50xas long as short
Lighter RH ETH+0.0096%1h2,759.3+0.012%$25.5M$122.5M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,761.8+0.102%—$44.1M500xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,761.2+0.080%$15.8M$11.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,758−0.034%$480K$2.5M50xas long as short
Nado ETH-PERP+0.0100%1h2,761+0.075%$17.3M$112.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,760.2+0.045%$3.23B$2.21B25xas long as short
Pacifica ETH+0.0100%1h2,757.4−0.056%$31.2M$265.1M50xas long as short
Bybit ETHUSDT+0.0100%8h2,756−0.107%$2.52B$4.43B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,756.6−0.085%$2.9M$15.3M25xas long as short
Arcus ETH-USD+0.0100%1h2,758.4−0.018%$2.9M$16.9M25xas long as short
KuCoin ETHUSDTMshort+0.0100%8h2,757.1−0.067%$414.7M$711.1M100x
BingX ETH-USDT+0.0100%8h2,756.4−0.091%—$1.15B—as long as short
Backpack ETH_USDC_PERPlong+0.0100%1h2,759long leg$15.3M$41.9M50x
edgeX ETHUSDC+0.0100%4h2,761.2+0.082%$179.7M$749.4M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,762.6+0.131%$160.7M$95.7M50xas long as short
StandX ETH-USD+0.0100%1h2,760.9+0.071%$21.3M$56.8M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,758−0.034%$11.3M$7.1M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,760.5+0.057%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,762.2+0.118%$42.8M$29.2M15xas long as short
SunX ETH-USDT+0.0100%8h2,761.3+0.086%$969K$14.2M100xas long as short
HTX ETH-USDT+0.0100%8h2,758.3−0.023%$1.08B$1.24B200xas long as short
Vest ETH-PERP+0.0100%1h2,757.2−0.063%—$1.1M50xas long as short
Extended ETH-USD+0.0104%1h2,756.1−0.104%$31.5M$75.6M50xas long as short
Orderly PERP_ETH_USDC+0.0112%8h2,762+0.111%$32.4M$11.1M100xas long as short
Kalshi KXETHPERP+0.0127%8h2,762.3+0.121%$8.5M$643.1M4.9xas long as short
Coinbase International ETH-PERP-INTX+0.0128%1h2,760.7+0.062%$59.5M$4.56B50xas long as short
Hibachi ETH/USDT-P+0.0152%1h2,763.6+0.168%$278K$1.5M20xas long as short
BloFin ETH-USDT+0.0154%8h2,762.2+0.117%$292.7M$186.8M150xas long as short
Kraken Futures PF_ETHUSD+0.0163%1h2,760.1+0.042%$85.2M$322.2M100xas long as short
Reya ETHRUSDPERP+0.0226%1h2,754.1−0.175%$7.5M$937K25xas long as short