ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0242%/8h= +26.5% APRnext payment +$0.30 per $10,000 · paid last 24h −0.006%

Price spread now: RISEx against Backpack+0.068%7-day average −0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$190.185% of the position

Long on Backpack Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.009%+$1 on $10k

Price spread, last 7 days+0.991%+$99 · spread now +0.068%, 7d avg −0.019%

Together, before fees+0.999%+$100 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and RISEx is 0.087% dearer against Backpack than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.019%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.009% in total (about 0.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.30 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ETH_USDC_PERP	2,737.3	0.0100	pay 0.0013% / 1h	49m 39s	$15.0M	$35.0M	50x
Short	RISEx ETH/USDC	2,739.2	0.0342	get 0.0043% / 1h	49m 39s	$5.7M	$10.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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

Position, each leg$Hold fordaysFee BackpackbpFee RISExbpOrdersPrice spread, now +0.068%Rate

Funding earned: $50.84
Price spread: +0.068% → −0.019%: $8.71
Slippage, 4 orders: −$2.54
Fee Backpack: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: $41.01
Costs to cover: 0.185%
Break-even: 1.4 days

Slippage from Backpack: live order book, 3 min ago; RISEx: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Backpack live order book, 3 min ago	0.02 bp	5.0 bp −$5	5.6 bp −$56	8.5 bp −$854	doesn't fit
Sell RISEx live order book, 3 min ago	0.02 bp	5.3 bp −$5	6.3 bp −$63	doesn't fit	doesn't fit

ETH on 55 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff ETH-PERP	−0.0080%	1h	2,742.5	+0.190%	$5K	$1K	50x	as long as short
Hibachi ETH/USDT-P	−0.0056%	1h	2,740	+0.097%	$231K	$1.2M	20x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0009% / S +0.0043%	1h	2,741.9	+0.168%	$12.2M	—	200x	as long as short
Phoenix ETH	−0.0009%	1h	2,742.6	+0.193%	$819K	$2.8M	25x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,739.9	+0.095%	$7.4M	$656.1M	4.9x	as long as short
Perpl ETH	0.0000%	43m	2,741	+0.134%	$269K	$4.9M	8.3x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,742	+0.171%	$33.1M	—	200x	as long as short
Bybit ETHUSDT	+0.0047%	8h	2,737.6	+0.011%	$2.37B	$3.77B	150x	as long as short
01 Exchange ETHUSD	+0.0048%	1h	2,739.2	+0.069%	$183K	$910K	50x	as long as short
OKX ETH-USDT-SWAP	+0.0072%	8h	2,738	+0.025%	$1.67B	$9.01B	100x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX ETH-USD	+0.0083%	1h	2,736.8	−0.019%	$15.2M	$42.4M	50x	as long as short
ApeX Omni ETHUSDT	+0.0085%	1h	2,743.8	+0.237%	$8.2M	$25.0M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0086%	1h	2,740.4	+0.113%	$267.1M	$180.4M	50x	as long as short
KuCoin ETHUSDTM	+0.0091%	8h	2,736.9	−0.016%	$377.8M	$433.5M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,736.7	−0.023%	$113.6M	$381.9M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,738.1	+0.030%	$23.5M	$93.5M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,741.5	+0.154%	—	$23.3M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,739.6	+0.083%	$4.9M	$247K	20x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,737.5	+0.007%	$514K	$3.5M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,739.2	+0.070%	$14.9M	$93.5M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,738.3	+0.036%	$3.14B	$1.67B	25x	as long as short
Aster ETHUSDT	+0.0100%	8h	2,736.8	−0.018%	$254.6M	$700.8M	200x	as long as short
Pacifica ETH	+0.0100%	1h	2,737.5	+0.008%	$32.0M	$322.3M	50x	as long as short
Binance ETHUSDT	+0.0100%	8h	2,736.8	−0.020%	$6.40B	$13.67B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,739.7	+0.087%	$2.8M	$14.0M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,739.3	+0.073%	$1.6M	$14.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,743.8	+0.237%	$163.0M	$315.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,738.6	+0.047%	$3.27B	$7.61B	200x	as long as short
MEXC ETH_USDT	+0.0100%	8h	2,736.8	−0.017%	$1.59B	$2.29B	500x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,738	+0.026%	$2.11B	$2.26B	150x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,738	+0.024%	—	$936.4M	—	as long as short
Backpack ETH_USDC_PERPlong	+0.0100%	1h	2,737.3	long leg	$15.0M	$35.0M	50x
Variational Omni ETH	+0.0100%	8h	2,738.7	+0.051%	$133.6M	$273.6M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,742.3	+0.180%	$184.5M	$556.8M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,743.7	+0.233%	$159.5M	$69.7M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,740.6	+0.120%	$21.0M	$76.3M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,742	+0.170%	—	$316K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,742.6	+0.193%	$11.2M	$8.6M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,741.8	+0.162%	$176K	$1.6M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,739.1	+0.064%	$20K	$7K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,741.2	+0.141%	$40.9M	$25.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,737.6	+0.009%	$943K	$8.2M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,739.6	+0.084%	$61.7M	$121.7M	40x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,737.9	+0.020%	$1.05B	$993.1M	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,737.2	−0.003%	$262.6M	$56.2M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,737	−0.010%	$30.2M	$63.7M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,738.5	+0.043%	$47.6M	$3.86B	50x	as long as short
Aftermath Perps ETHUSD	+0.0114%	1h	2,741.8	+0.166%	$30K	$8K	20x	as long as short
Kraken Futures PF_ETHUSD	+0.0120%	1h	2,738.4	+0.039%	$82.5M	$265.1M	100x	as long as short
Reya ETHRUSDPERP	+0.0145%	1h	2,740.4	+0.112%	$7.3M	$854K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0189%	8h	2,741.8	+0.165%	$32.4M	$9.9M	100x	as long as short
RISEx ETH/USDCshort	+0.0342%	1h	2,739.2	+0.068%	$5.7M	$10.4M	25x
BloFin ETH-USDT	+0.0400%	8h	2,739	+0.062%	$285.1M	$146.9M	150x	as long as short
Paradex ETH-USD-PERP	+0.0446%	8h	2,739	+0.060%	$15.8M	$6.1M	50x	as long as short
Injective ETH/USDC PERP	+0.0477%	1h	2,743.8	+0.237%	$118K	$25.0M	52x	as long as short