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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 22:00 UTC+0.0009%/8h= +0.9% APRpaid last 24h +0.009%
Price spread now: Bullet against Bitget−0.008%7-day average +0.013% · 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−$26as in the Price arb table
costs, in and out, $10k−$240.239% of the position
Long on BitgetShort on Bullet
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.007%−$1 on $10k
Price spread, last 7 days0.000%$0 · spread now −0.008%, 7d avg +0.013%
Together, before fees−0.007%−$1 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 0.021% cheaper against Bitget than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.013%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBitget ETHUSDT2,774.70.0073pay 0.0073% / 8h2h 25m$2.10B$3.12B150x
ShortBullet ETH-USD2,774.50.0082get 0.0010% / 1h25m 13s$185K$1.8M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bullet against Bitget. 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
$1.8
Price spread: −0.008% → +0.013%
−$2.12
Slippage, 4 orders
−$3.86
Fee Bitget: 6 bp × 2 orders
−$12
Fee Bullet: 4 bp × 2 orders
−$8
Net
−$24.19
Costs to cover
0.239%
Break-even
101.2 days
Slippage from Bitget: live order book, 4 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 Bitget live order book, 4 min ago0.02 bp6.0 bp −$67.0 bp −$708.1 bp −$8099.0 bp −$4,512
Sell Bullet live order book, 4 min ago0.18 bp7.0 bp −$79.2 bp −$92doesn'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%43m2,774.8+0.003%$289K$6.9M8.3xas long as short
Injective ETH/USDC PERP−0.0107%1h2,766.1−0.310%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,771.9−0.101%$5K$2K50xas long as short
01 Exchange ETHUSD−0.0056%1h2,775.1+0.014%$172K$1.2M50xas long as short
Phoenix ETH−0.0023%1h2,773.4−0.047%$798K$3.7M25xas long as short
RISEx ETH/USDC−0.0011%1h2,774.9+0.007%$5.8M$11.9M25xas long as short
dYdX ETH-USD0.0000%1h2,775.6+0.033%$12.7M$45.5M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,775.4+0.025%$22.4M—200xas long as short
Aftermath Perps ETHUSD+0.0007%1h2,771.1−0.130%$29K$22K20xas long as short
Phemex ETHUSDT+0.0014%8h2,774.5−0.008%$267.2M$66.1M150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
ApeX Omni ETHUSDT+0.0018%1h2,771.4−0.121%$8.8M$32.6M100xas long as short
OKX ETH-USDT-SWAP+0.0021%8h2,775+0.010%$1.71B$11.90B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0028% / S +0.0009%1h2,775.3+0.020%$13.2M—200xas long as short
Aster ETHUSDT+0.0039%8h2,774.9+0.007%$256.7M$995.9M200xas long as short
MEXC ETH_USDT+0.0045%8h2,774.7−0.001%$1.60B$2.67B500xas long as short
Binance ETHUSDT+0.0047%8h2,774.7−0.001%$6.44B$17.22B150xas long as short
Aevo ETH-PERP+0.0048%1h2,774.3−0.014%$5.0M$636K20xas long as short
Gate ETH_USDT+0.0070%8h2,774.70.000%$3.28B$9.65B200xas long as short
Bitget ETHUSDTlong+0.0073%8h2,774.7long leg$2.10B$3.12B150x
Bullet ETH-USDshort+0.0082%1h2,774.5−0.008%$185K$1.8M20x
Variational Omni ETH+0.0092%8h2,774.2−0.020%$140.6M$320.2M—as long as short
Lighter ETH+0.0096%1h2,775.3+0.020%$115.4M$513.5M50xas long as short
Lighter RH ETH+0.0096%1h2,776.6+0.068%$25.4M$122.6M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,775.3+0.023%—$41.7M500xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,774.6−0.004%$15.9M$10.9M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,774.5−0.008%$482K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,774.9+0.008%$14.6M$117.0M50xas long as short
Hyperliquid ETH+0.0100%1h2,777+0.081%$3.20B$2.39B25xas long as short
Pacifica ETH+0.0100%1h2,775.4+0.025%$31.2M$287.3M50xas long as short
Bybit ETHUSDT+0.0100%8h2,774.70.000%$2.51B$4.64B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,774.1−0.022%$2.9M$16.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,776.8+0.074%$2.8M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,765.9−0.317%$164.9M$256.3M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,774.6−0.004%$424.4M$741.3M100xas long as short
BingX ETH-USDT+0.0100%8h2,774.5−0.009%—$1.18B—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,776.8+0.076%$15.4M$42.4M50xas long as short
edgeX ETHUSDC+0.0100%4h2,770.9−0.136%$178.1M$791.8M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,772.8−0.067%$161.3M$97.1M50xas long as short
StandX ETH-USD+0.0100%1h2,774.4−0.011%$21.4M$57.7M40xas long as short
Vest ETH-PERP+0.0100%1h2,775.2+0.019%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,776+0.046%$10.8M$7.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,775.6+0.032%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,777+0.083%$42.7M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,773.7−0.037%$972K$14.2M100xas long as short
SoDEX ETH-USD+0.0100%1h2,774.70.000%$55.2M$228.6M40xas long as short
HTX ETH-USDT+0.0100%8h2,774.6−0.004%$1.08B$1.32B200xas long as short
Extended ETH-USD+0.0104%1h2,774.3−0.016%$31.4M$76.1M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,776.6+0.068%$60.1M$4.63B50xas long as short
Kalshi KXETHPERP+0.0120%8h2,775.9+0.043%$8.5M$672.8M4.9xas long as short
Orderly PERP_ETH_USDC+0.0131%8h2,777.7+0.106%$32.6M$12.0M100xas long as short
Deribit ETH-PERPETUAL+0.0139%1h2,776.4+0.061%$258.4M$224.8M50xas long as short
BloFin ETH-USDT+0.0167%8h2,774.5−0.008%$285.0M$195.5M150xas long as short
Reya ETHRUSDPERP+0.0182%1h2,774.6−0.005%$7.4M$1.1M25xas long as short
Kraken Futures PF_ETHUSD+0.0240%1h2,776.2+0.054%$86.9M$330.7M100xas long as short
Hibachi ETH/USDT-P+0.0432%1h2,777.3+0.095%$285K$1.5M20xas long as short