Settings8H · net · $10k
FundingCostsSizeExchangesMy alerts
Funding arb · Price arb /

ETH

all ETH markets
SwapBacktest
Alert: funding
Measured
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 02:00 UTC+0.0260%/8h= +28.5% APRpaid last 24h +0.017%
Price spread now: Kraken Futures against Bitget+0.039%7-day average +0.011% · you sell dearer than you buy
Net, funding: paid 7d − costs−$13as in the Funding arb table
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$240.237% of the position
Long on BitgetShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 7 days+0.105%+$11 on $10k
Price spread, last 3 days (all we have)−0.034%−$3 · spread now +0.039%, 7d avg +0.011%
Together, before fees+0.071%+$7 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Kraken Futures is 0.027% dearer against Bitget than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.011%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.105% in total (about 5.5% 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
LongBitget ETHUSDT2,748.20.0094pay 0.0094% / 8h6h 21m$2.08B$2.84B150x
ShortKraken Futures PF_ETHUSD2,749.30.0354get 0.0044% / 1h21m 13s$89.4M$316.7M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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
$54.58
Price spread: +0.039% → +0.011%
$2.71
Slippage, 4 orders
−$1.75
Fee Bitget: 6 bp × 2 orders
−$12
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$33.54
Costs to cover
0.237%
Break-even
2.7 days
Slippage from Bitget: live order book, 3 min ago; Kraken Futures: live order book, 3 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, 3 min ago0.02 bp6.1 bp −$66.7 bp −$678.1 bp −$806doesn't fit
Sell Kraken Futures live order book, 3 min ago0.18 bp6.3 bp −$67.3 bp −$739.3 bp −$93412.4 bp −$6,210

ETH on 54 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%43m2,750.6+0.087%$311K$6.0M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,750+0.065%$5K$1K50xas long as short
RISEx ETH/USDC−0.0071%1h2,750.1+0.070%$5.7M$11.4M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0009% / S +0.0043%1h2,749.6+0.051%$12.2M—200xas long as short
Phoenix ETH−0.0006%1h2,752.8+0.167%$849K$3.1M25xas long as short
dYdX ETH-USD0.0000%1h2,750.3+0.074%$10.8M$42.0M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,749.7+0.055%$22.2M—200xas long as short
01 Exchange ETHUSD+0.0024%1h2,750.5+0.083%$181K$1.1M50xas long as short
ApeX Omni ETHUSDT+0.0028%1h2,751.6+0.124%$8.7M$31.5M100xas long as short
BingX ETH-USDT+0.0037%8h2,748−0.008%—$1.18B—as long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0047%8h2,748−0.008%$1.69B$10.96B100xas long as short
HTX ETH-USDT+0.0057%8h2,748.3+0.004%$1.06B$1.20B200xas long as short
KuCoin ETHUSDTM+0.0070%8h2,747.9−0.012%$372.7M$609.7M100xas long as short
Aster ETHUSDT+0.0072%8h2,749.6+0.051%$253.2M$857.7M200xas long as short
MEXC ETH_USDT+0.0080%8h2,748−0.009%$1.57B$2.56B500xas long as short
Aevo ETH-PERP+0.0080%1h2,746.6−0.060%$4.9M$168K20xas long as short
Binance ETHUSDT+0.0082%8h2,748.20.000%$6.39B$16.22B150xas long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,749.3+0.040%$59.1M$4.34B50xas long as short
Gate ETH_USDT+0.0089%8h2,749.8+0.059%$3.39B$8.90B200xas long as short
Bitget ETHUSDTlong+0.0094%8h2,748.2long leg$2.08B$2.84B150x
Lighter ETH+0.0096%1h2,748.6+0.014%$113.0M$443.7M50xas long as short
Lighter RH ETH+0.0096%1h2,750.3+0.075%$24.8M$107.1M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,749.9+0.061%—$35.5M500xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,754.5+0.228%$16.3M$8.2M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,749.7+0.054%$478K$2.9M50xas long as short
Nado ETH-PERP+0.0100%1h2,749.3+0.039%$14.0M$112.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,751.9+0.134%$3.13B$2.10B25xas long as short
Pacifica ETH+0.0100%1h2,750.2+0.072%$31.5M$333.9M50xas long as short
Bybit ETHUSDT+0.0100%8h2,748.2−0.001%$2.46B$4.33B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,749.4+0.043%$2.8M$16.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,750.2+0.074%$2.8M$16.5M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,748.2+0.001%$15.1M$41.7M50xas long as short
Variational Omni ETH+0.0100%8h2,753.3+0.185%$133.3M$345.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,750.9+0.098%$181.9M$703.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,752+0.137%$160.0M$83.0M50xas long as short
StandX ETH-USD+0.0100%1h2,752.7+0.163%$21.3M$68.1M40xas long as short
Vest ETH-PERP+0.0100%1h2,751.2+0.109%—$869K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,750.4+0.080%$10.7M$8.6M50xas long as short
Bullet ETH-USD+0.0100%1h2,749.4+0.043%$182K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,750.1+0.068%$21K$21K25xas long as short
Derive ETH-PERP+0.0100%1h2,750.7+0.091%$41.8M$29.5M15xas long as short
SunX ETH-USDT+0.0100%8h2,747.8−0.016%$963K$12.3M100xas long as short
SoDEX ETH-USD+0.0100%1h2,748.6+0.014%$54.7M$187.7M40xas long as short
Phemex ETHUSDT+0.0100%8h2,748.6+0.013%$267.3M$65.9M150xas long as short
Bulk ETH-USD+0.0100%1h2,751.8+0.131%$165.7M$300.7M25xas long as short
Aftermath Perps ETHUSD+0.0102%1h2,751.2+0.107%$30K$20K20xas long as short
Deribit ETH-PERPETUAL+0.0103%1h2,750+0.064%$258.5M$199.9M50xas long as short
Extended ETH-USD+0.0104%1h2,748.20.000%$30.5M$73.5M50xas long as short
Kalshi KXETHPERP+0.0143%8h2,750.4+0.080%$7.7M$674.8M4.9xas long as short
Orderly PERP_ETH_USDC+0.0172%8h2,751.6+0.123%$32.4M$11.1M100xas long as short
Hibachi ETH/USDT-P+0.0200%1h2,753.6+0.197%$250K$1.5M20xas long as short
Injective ETH/USDC PERP+0.0209%1h2,750.8+0.094%$118K$22.5M52xas long as short
Reya ETHRUSDPERP+0.0220%1h2,749.6+0.049%$7.3M$1.1M25xas long as short
Kraken Futures PF_ETHUSDshort+0.0354%1h2,749.3+0.039%$89.4M$316.7M100x