ETH

Alert

Funding spread now, next payment 14:00 UTC+0.0051%/8h

paid, last 24h−0.003%paid, last 3 days−0.120%to open and closeno order book

Long on Backpack Short on Variational Omni

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ETH_USDC_PERP	2,730.7	0.0049	pay 0.0006% / 1h	41m 05s	$15.6M	$38.3M	50x
Short	Variational Omni ETH	2,730.5	0.0100	get 0.0100% / 8h	2h 41m	$152.9M	$289.1M	—

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee BackpackbpFee Variational OmnibpOrdersRate

Funding earned: $10.61
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $0.61
Break-even: 6.6 days

Slippage unknown: Backpack: live order book, 5 min ago; Variational Omni: RFQ quote, 5 min ago. Net counts fees only.

Price risk

price view

Price gap now: −0.009%
Avg gap 7d: +0.009%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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, 5 min ago	0.02 bp	5.2 bp −$5	5.6 bp −$56	11.8 bp −$1,178	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	0.68 bp	doesn't fit	0.7 bp −$7	2.7 bp −$269	doesn't fit

ETH on 54 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
ApeX Omni ETHUSDT	−0.0096%	1h	$7.6M	$26.7M	100x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	$5K	$472	50x	as long as short
Gate ETH_USDT	−0.0069%	8h	$3.71B	$7.89B	200x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0015% / S +0.0046%	1h	$11.5M	—	200x	as long as short
Kalshi KXETHPERP	0.0000%	8h	$2.6M	$443.0M	4.9x	as long as short
Perpl ETH	0.0000%	43m	$193K	$4.9M	8.3x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	$22.2M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0031%	8h	$1.70B	$10.10B	100x	as long as short
Coinbase International ETH-PERP-INTX	+0.0032%	1h	$61.8M	$4.47B	50x	as long as short
Backpack ETH_USDC_PERPlong	+0.0049%	1h	$15.6M	$38.3M	50x

Show all 54 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Kraken Futures PF_ETHUSD	+0.0055%	1h	$77.0M	$288.3M	100x	as long as short
01 Exchange ETHUSD	+0.0056%	1h	$193K	$881K	50x	as long as short
Phoenix ETH	+0.0061%	1h	$1.4M	$2.5M	25x	as long as short
Phemex ETHUSDT	+0.0072%	8h	$264.4M	$65.4M	150x	as long as short
Bitget ETHUSDT	+0.0082%	8h	$2.13B	$2.82B	150x	as long as short
SoDEX ETH-USD	+0.0091%	1h	$55.5M	$139.7M	40x	as long as short
Deribit ETH-PERPETUAL	+0.0094%	1h	$259.5M	$204.7M	50x	as long as short
Lighter ETH	+0.0096%	1h	$118.6M	$421.9M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	$25.8M	$107.2M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	—	$41.1M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	$5.0M	$799K	20x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	$474K	$1.8M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	$13.8M	$10.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	$17.3M	$100.8M	50x	as long as short
Aster ETHUSDT	+0.0100%	8h	$275.9M	$763.8M	200x	as long as short
Pacifica ETH	+0.0100%	1h	$30.8M	$170.8M	50x	as long as short
Binance ETHUSDT	+0.0100%	8h	$6.59B	$13.68B	150x	as long as short
Bybit ETHUSDT	+0.0100%	8h	$2.44B	$4.02B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	$3.0M	$9.2M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	$2.2M	$12.8M	25x	as long as short
MEXC ETH_USDT	+0.0100%	8h	$1.58B	$2.21B	500x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	$392.4M	$647.6M	100x	as long as short
BingX ETH-USDT	+0.0100%	8h	—	$1.02B	—	as long as short
Variational Omni ETHshort	+0.0100%	8h	$152.9M	$289.1M	—
edgeX ETHUSDC	+0.0100%	4h	$189.7M	$632.8M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	$20.9M	$51.6M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	—	$1.2M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	$10.8M	$4.6M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	$183K	$1.9M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	$19K	$24K	25x	as long as short
SunX ETH-USDT	+0.0100%	8h	$941K	$13.4M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	$1.09B	$1.08B	200x	as long as short
Bulk ETH-USD	+0.0100%	1h	$149.4M	$272.5M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	$32.5M	$61.9M	50x	as long as short
Reya ETHRUSDPERP	+0.0142%	1h	$7.3M	$908K	25x	as long as short
Hibachi ETH/USDT-P	+0.0144%	1h	$290K	$1.1M	20x	as long as short
Hyperliquid ETH	+0.0162%	1h	$3.16B	$1.94B	25x	as long as short
RISEx ETH/USDC	+0.0179%	1h	$5.8M	$12.5M	25x	as long as short
Injective ETH/USDC PERP	+0.0206%	1h	$117K	$22.5M	52x	as long as short
Orderly PERP_ETH_USDC	+0.0220%	8h	$32.0M	$11.0M	100x	as long as short
BloFin ETH-USDT	+0.0220%	8h	$294.5M	$162.9M	150x	as long as short
Aftermath Perps ETHUSD	+0.0256%	1h	$29K	$33K	20x	as long as short
dYdX ETH-USD	+0.0454%	1h	$24.4M	$20.4M	50x	as long as short
Derive ETH-PERP	+0.0470%	1h	$39.8M	$17.4M	15x	as long as short