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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 09:00 UTC+0.0007%/8h= +0.7% APRpaid last 24h −0.004%
Price spread now: Bullet against Binance−0.015%7-day average +0.011% · 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−$23as in the Price arb table
costs, in and out, $10k−$200.200% of the position
Long on BinanceShort on Bullet
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.028%−$3 on $10k
Price spread, last 7 days+0.013%+$1 · spread now −0.015%, 7d avg +0.011%
Together, before fees−0.015%−$2 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: Bullet is 0.026% cheaper against Binance than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.011%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBinance ETHUSDT2,731.50.0093pay 0.0093% / 8h7h 44m$6.32B$16.06B150x
ShortBullet ETH-USD2,731.10.0100get 0.0013% / 1h44m 47s$176K$1.7M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bullet against Binance. 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
$1.43
Price spread: −0.015% → +0.011%
−$2.58
Slippage, 4 orders
−$2.04
Fee Binance: 5 bp × 2 orders
−$10
Fee Bullet: 4 bp × 2 orders
−$8
Net
−$21.19
Costs to cover
0.200%
Break-even
110.6 days
Slippage from Binance: live order book, 14 min ago; Bullet: live order book, 4 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 Binance live order book, 14 min ago0.02 bp5.0 bp −$55.0 bp −$505.5 bp −$5478.0 bp −$3,990
Sell Bullet live order book, 4 min ago0.37 bp5.3 bp −$59.0 bp −$90doesn't fitdoesn'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
Perpl ETH−0.0112%43m2,732.6+0.039%$277K$5.7M8.3xas long as short
BloFin ETH-USDT−0.0097%8h2,731.6+0.003%$280.3M$177.8M150xas long as short
Hotstuff ETH-PERP−0.0080%1h2,731.3−0.007%$5K$1K50xas long as short
Phemex ETHUSDT−0.0076%8h2,731.2−0.010%$263.2M$63.8M150xas long as short
HTX ETH-USDT−0.0019%8h2,730.9−0.024%$1.05B$1.21B200xas long as short
Phoenix ETH−0.0012%1h2,733+0.055%$807K$3.0M25xas long as short
Bybit ETHUSDT−0.0010%8h2,731.3−0.008%$2.32B$4.31B150xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,731.6+0.005%$11.9M—200xas long as short
dYdX ETH-USD0.0000%1h2,732.7+0.043%$10.6M$41.9M50xas long as short
Kalshi KXETHPERP0.0000%8h2,732.2+0.026%$6.7M$672.4M4.9xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Deribit ETH-PERPETUAL0.0000%1h2,732.2+0.026%$264.7M$218.7M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,731.7+0.006%$33.0M—200xas long as short
01 Exchange ETHUSD+0.0048%1h2,732.2+0.026%$191K$883K50xas long as short
ApeX Omni ETHUSDT+0.0069%1h2,732.1+0.022%$8.4M$31.2M100xas long as short
SoDEX ETH-USD+0.0074%1h2,731.4−0.004%$54.4M$182.5M40xas long as short
OKX ETH-USDT-SWAP+0.0079%8h2,731.3−0.006%$1.66B$10.73B100xas long as short
Hibachi ETH/USDT-P+0.0080%1h2,732.8+0.046%$239K$1.4M20xas long as short
Aster ETHUSDT+0.0084%8h2,731.4−0.002%$252.2M$849.7M200xas long as short
KuCoin ETHUSDTM+0.0086%8h2,731.9+0.014%$383.5M$576.3M100xas long as short
Binance ETHUSDTlong+0.0093%8h2,731.5long leg$6.32B$16.06B150x
MEXC ETH_USDT+0.0094%8h2,732+0.019%$1.57B$2.55B500xas long as short
Lighter ETH+0.0096%1h2,732.1+0.024%$112.6M$401.0M50xas long as short
Lighter RH ETH+0.0096%1h2,733.4+0.070%$23.7M$95.8M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,732.8+0.047%—$30.4M500xas long as short
Aevo ETH-PERP+0.0096%1h2,729−0.090%$4.9M$195K20xas long as short
SunX ETH-USDT+0.0097%8h2,730.8−0.024%$941K$10.7M100xas long as short
Katana Perps ETH-USD+0.0100%8h2,731.7+0.007%$499K$3.5M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,734.7+0.119%$15.4M$7.3M50xas long as short
Nado ETH-PERP+0.0100%1h2,731.1−0.015%$14.2M$100.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,734.3+0.103%$3.11B$2.04B25xas long as short
Pacifica ETH+0.0100%1h2,732.6+0.040%$32.0M$332.0M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,732.1+0.022%$2.7M$16.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,732+0.017%$1.6M$15.8M25xas long as short
Gate ETH_USDT+0.0100%8h2,731.6+0.005%$3.28B$8.24B200xas long as short
Bitget ETHUSDT+0.0100%8h2,731.8+0.012%$2.11B$2.75B150xas long as short
BingX ETH-USDT+0.0100%8h2,731.6+0.003%—$1.06B—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,731.9+0.014%$15.2M$39.9M50xas long as short
Variational Omni ETH+0.0100%8h2,731−0.017%$131.5M$316.0M—as long as short
edgeX ETHUSDC+0.0100%4h2,730.5−0.036%$185.8M$685.5M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,731.4−0.002%$158.8M$80.0M50xas long as short
StandX ETH-USD+0.0100%1h2,732.5+0.037%$21.0M$70.7M40xas long as short
Vest ETH-PERP+0.0100%1h2,733.2+0.063%—$441K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,732.4+0.033%$11.2M$9.4M50xas long as short
Bullet ETH-USDshort+0.0100%1h2,731.1−0.015%$176K$1.7M20x
Bluefin ETH-PERP+0.0100%1h2,759.5+1.025%$20K$23K25xas long as short
Derive ETH-PERP+0.0100%1h2,732.5+0.036%$40.6M$29.1M15xas long as short
Bulk ETH-USD+0.0100%1h2,730.8−0.025%$162.8M$334.7M25xas long as short
Extended ETH-USD+0.0104%1h2,730.9−0.022%$30.5M$71.2M50xas long as short
Kraken Futures PF_ETHUSD+0.0105%1h2,732.1+0.021%$82.0M$309.9M100xas long as short
Aftermath Perps ETHUSD+0.0108%1h2,731.2−0.010%$30K$20K20xas long as short
Coinbase International ETH-PERP-INTX+0.0120%1h2,732.5+0.037%$46.5M$4.25B50xas long as short
RISEx ETH/USDC+0.0137%1h2,732.5+0.037%$5.6M$11.4M25xas long as short
Reya ETHRUSDPERP+0.0174%1h2,730.6−0.033%$7.3M$972K25xas long as short
Orderly PERP_ETH_USDC+0.0185%8h2,733.7+0.080%$32.2M$11.2M100xas long as short
Injective ETH/USDC PERP+0.0253%1h2,736.2+0.172%$117K$19.5M52xas long as short