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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 22:46 UTC−0.0513%/8h= −56.1% APRpaid last 24h −0.031%
Price spread now: Perpl against Binance+0.059%7-day average +0.019% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on BinanceShort on Perpl
What this pair did over the last
the charts below follow
Funding, last 7 days+0.136%+$14 on $10k
Price spread, last 7 days−0.047%−$5 · spread now +0.059%, 7d avg +0.019%
Together, before fees+0.089%+ Points / potential airdropPerpl: Active · farm board+$9 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Perpl is 0.040% dearer against Binance than usual: you sell high and buy low (spread +0.059% now, against its 7-day average of +0.019%): +$4 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 6 hours. Mind the row above: over the last 7 days funding on this pair paid +0.136%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.136% in total (about 7.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBinance ETHUSDT2,782.60.0066pay 0.0066% / 8h49m 49s$6.45B$17.27B150x
ShortPerpl ETH2,784.2−0.0447pay 0.0040% / 43m2m 49s$288K$6.9M8.3x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Perpl against Binance. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$107.68
Price spread: +0.059% → +0.019%
$3.97
Slippage, 4 orders
no order book: not counted
Fee Binance: 5 bp × 2 orders
−$10
Fee Perpl: 6.9 bp × 2 orders
−$13.8
Net
−$127.51
Costs to cover
0.238%
Break-even
never at this rate
Slippage unknown: Binance: live order book, 9 min ago; Perpl: no order-book sample. Net counts fees only.

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, 9 min ago0.02 bp5.0 bp −$55.0 bp −$506.3 bp −$6258.6 bp −$4,303
Sell Perpl no order-book sample—————
Perpl: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 ETHshort−0.0447%43m2,784.2+0.059%$288K$6.9M8.3x
RISEx ETH/USDC−0.0206%1h2,783.5+0.034%$5.7M$11.9M25xas long as short
Injective ETH/USDC PERP−0.0088%1h2,782.5−0.002%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,784.9+0.084%$5K$2K50xas long as short
ApeX Omni ETHUSDT−0.0066%1h2,786.6+0.144%$8.8M$32.8M100xas long as short
01 Exchange ETHUSD−0.0024%1h2,784.2+0.059%$169K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0009%1h2,782.8+0.009%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,784.6+0.073%$12.8M$45.9M50xas long as short
Phoenix ETH+0.0003%1h2,785+0.088%$888K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,783.5+0.032%$22.5M—200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0016%8h2,782.4−0.007%—$17.4M—as long as short
OKX ETH-USDT-SWAP+0.0020%8h2,782.8+0.008%$1.70B$11.92B100xas long as short
Phemex ETHUSDT+0.0026%8h2,782.4−0.005%$271.2M$68.9M150xas long as short
GMX ETH/USD [ETH-USDC]L +0.0026% / S +0.0009%1h2,783.2+0.024%$12.9M—200xas long as short
Aster ETHUSDT+0.0039%8h2,782.8+0.007%$256.8M$1.00B200xas long as short
Aevo ETH-PERP+0.0064%1h2,782.8+0.007%$5.1M$636K20xas long as short
Bitget ETHUSDT+0.0065%8h2,783+0.014%$2.11B$3.11B150xas long as short
MEXC ETH_USDT+0.0066%8h2,782.9+0.011%$1.60B$2.63B500xas long as short
Binance ETHUSDTlong+0.0066%8h2,782.6long leg$6.45B$17.27B150x
Gate ETH_USDT+0.0071%8h2,782.6+0.003%$3.31B$9.59B200xas long as short
Bullet ETH-USD+0.0074%1h2,782.7+0.004%$184K$1.7M20xas long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,783.6+0.036%$60.3M$4.62B50xas long as short
KuCoin ETHUSDTM+0.0089%8h2,782.1−0.015%$423.2M$739.7M100xas long as short
Bybit ETHUSDT+0.0090%8h2,782.9+0.012%$2.52B$4.63B150xas long as short
HTX ETH-USDT+0.0090%8h2,782−0.020%$1.08B$1.32B200xas long as short
Lighter ETH+0.0096%1h2,783+0.015%$116.3M$495.5M50xas long as short
Lighter RH ETH+0.0096%1h2,784.8+0.079%$25.4M$120.7M50xas long as short
Vest ETH-PERP+0.0097%1h2,784.2+0.060%—$1.1M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,783.9+0.047%$16.0M$10.5M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,783.5+0.034%$479K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,784.1+0.055%$14.4M$118.2M50xas long as short
Hyperliquid ETH+0.0100%1h2,785.3+0.098%$3.20B$2.35B25xas long as short
Pacifica ETH+0.0100%1h2,784.6+0.074%$31.3M$306.5M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,783.7+0.041%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,785+0.087%$2.7M$17.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,784.2+0.059%$168.3M$253.1M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,782−0.019%$15.1M$44.0M50xas long as short
Variational Omni ETH+0.0100%8h2,782.7+0.004%$147.8M$336.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,782.4−0.007%$182.1M$780.5M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,784.1+0.055%$161.9M$90.2M50xas long as short
StandX ETH-USD+0.0100%1h2,783.6+0.037%$21.5M$58.3M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,784.7+0.077%$10.8M$7.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,783.4+0.031%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,784.6+0.073%$42.8M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,782.8+0.010%$976K$13.9M100xas long as short
SoDEX ETH-USD+0.0100%1h2,782.2−0.013%$55.4M$229.0M40xas long as short
Deribit ETH-PERPETUAL+0.0102%1h2,783.9+0.048%$258.9M$222.8M50xas long as short
Extended ETH-USD+0.0104%1h2,782.2−0.012%$32.7M$77.7M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,783.6+0.036%—$41.8M500xas long as short
Kraken Futures PF_ETHUSD+0.0122%1h2,783.1+0.020%$86.7M$332.6M100xas long as short
Kalshi KXETHPERP+0.0124%8h2,784.4+0.066%$8.4M$682.3M4.9xas long as short
Orderly PERP_ETH_USDC+0.0136%8h2,785.3+0.098%$32.7M$12.1M100xas long as short
BloFin ETH-USDT+0.0186%8h2,783.3+0.026%$285.1M$195.1M150xas long as short
Reya ETHRUSDPERP+0.0198%1h2,783.2+0.023%$7.4M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0280%1h2,785+0.087%$271K$1.5M20xas long as short