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Funding arb · Price arb /

ETH

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Measured
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Alert: spread
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Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.015%
Price spread now: Variational Omni against Bitget−0.030%7-day average +0.005% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on BitgetShort on Variational Omni
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.033%+$3 on $10k
Price spread, last 7 days+0.009%+$1 · spread now −0.030%, 7d avg +0.005%
Together, before fees+0.041%+ Points / potential airdropVariational Omni: Active · farm board+$4 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: Variational Omni is 0.035% cheaper against Bitget than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.005%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBitget ETHUSDT2,723.80.0100pay 0.0100% / 8h0m 46s$2.11B$2.76B150x
ShortVariational Omni ETH2,7230.0100get 0.0100% / 8h0m 46s$131.2M$318.7M—

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Variational Omni 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
$0
Price spread: −0.030% → +0.005%
−$3.5
Slippage, 4 orders
no order book: not counted
Fee Bitget: 6 bp × 2 orders
−$12
Fee Variational Omni: 0 bp × 2 orders
$0
Net
−$15.5
Costs to cover
0.120%
Break-even
never at this rate
Slippage unknown: Bitget: live order book, 3 min ago; Variational Omni: RFQ quote, 3 min ago. 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 Bitget live order book, 3 min ago0.02 bp6.0 bp −$66.1 bp −$617.9 bp −$7888.4 bp −$4,211
Sell Variational Omni RFQ quote, 3 min ago0.84 bpdoesn't fit0.8 bp −$84.2 bp −$419doesn'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−0.0447%43m2,723.4−0.014%$273K$5.7M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,723.3−0.017%$5K$1K50xas long as short
Phoenix ETH−0.0015%1h2,723.8+0.001%$808K$3.0M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,723.7−0.002%$11.9M—200xas long as short
dYdX ETH-USD0.0000%1h2,723.5−0.011%$10.5M$41.8M50xas long as short
Kalshi KXETHPERP0.0000%8h2,724.6+0.030%$6.7M$673.2M4.9xas long as short
Deribit ETH-PERPETUAL0.0000%1h2,724.1+0.011%$264.1M$216.3M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,723.9+0.006%$32.9M—200xas long as short
BingX ETH-USDC+0.0018%8h2,723.1−0.023%—$18.6M—as long as short
Bybit ETHUSDT+0.0025%8h2,724.3+0.021%$2.31B$4.31B150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
HTX ETH-USDT+0.0037%8h2,723.3−0.018%$1.05B$1.21B200xas long as short
01 Exchange ETHUSD+0.0040%1h2,723.9+0.005%$189K$883K50xas long as short
BloFin ETH-USDT+0.0044%8h2,724.3+0.019%$280.6M$177.6M150xas long as short
Injective ETH/USDC PERP+0.0050%1h2,728.3+0.166%$117K$22.5M52xas long as short
Kraken Futures PF_ETHUSD+0.0060%1h2,724.1+0.011%$82.0M$310.3M100xas long as short
OKX ETH-USDT-SWAP+0.0077%8h2,724.4+0.022%$1.65B$10.73B100xas long as short
ApeX Omni ETHUSDT+0.0078%1h2,722.1−0.063%$8.4M$31.3M100xas long as short
Hibachi ETH/USDT-P+0.0080%1h2,724.3+0.020%$239K$1.4M20xas long as short
KuCoin ETHUSDTM+0.0081%8h2,724.1+0.012%$383.1M$575.5M100xas long as short
Aster ETHUSDT+0.0084%8h2,724.5+0.028%$251.9M$850.8M200xas long as short
MEXC ETH_USDT+0.0093%8h2,724.4+0.022%$1.58B$2.60B500xas long as short
Binance ETHUSDT+0.0093%8h2,724.5+0.028%$6.31B$16.08B150xas long as short
Aftermath Perps ETHUSD+0.0094%1h2,723.9+0.005%$30K$20K20xas long as short
Lighter ETH+0.0096%1h2,725.1+0.050%$112.2M$433.7M50xas long as short
Lighter RH ETH+0.0096%1h2,726.5+0.098%$23.3M$102.8M50xas long as short
Aevo ETH-PERP+0.0096%1h2,721−0.103%$4.9M$189K20xas long as short
Katana Perps ETH-USD+0.0100%8h2,723.2−0.021%$499K$3.6M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,728.8+0.185%$15.4M$7.4M50xas long as short
Nado ETH-PERP+0.0100%1h2,722.9−0.032%$14.1M$104.5M50xas long as short
Hyperliquid ETH+0.0100%1h2,726.2+0.089%$3.10B$2.04B25xas long as short
Pacifica ETH+0.0100%1h2,725.3+0.056%$31.9M$334.0M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,722.8−0.036%$2.7M$16.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,723.4−0.014%$1.6M$16.0M25xas long as short
Gate ETH_USDT+0.0100%8h2,723.9+0.006%$3.31B$8.96B200xas long as short
Bitget ETHUSDTlong+0.0100%8h2,723.8long leg$2.11B$2.76B150x
Backpack ETH_USDC_PERP+0.0100%1h2,724.1+0.010%$15.0M$40.5M50xas long as short
Variational Omni ETHshort+0.0100%8h2,723−0.030%$131.2M$318.7M—
edgeX ETHUSDC+0.0100%4h2,722.3−0.052%$185.2M$683.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,722.9−0.032%$158.2M$81.3M50xas long as short
StandX ETH-USD+0.0100%1h2,724.1+0.012%$20.9M$70.0M40xas long as short
Vest ETH-PERP+0.0100%1h2,724.9+0.041%—$445K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,725+0.045%$11.2M$9.4M50xas long as short
Bullet ETH-USD+0.0100%1h2,723.3−0.016%$180K$1.7M20xas long as short
Derive ETH-PERP+0.0100%1h2,724.2+0.016%$40.6M$30.0M15xas long as short
SunX ETH-USDT+0.0100%8h2,722.7−0.041%$955K$10.7M100xas long as short
SoDEX ETH-USD+0.0100%1h2,723.2−0.021%$54.2M$182.6M40xas long as short
Phemex ETHUSDT+0.0100%8h2,724.5+0.027%$262.5M$64.0M150xas long as short
Bulk ETH-USD+0.0100%1h2,722.9−0.033%$160.5M$349.9M25xas long as short
Extended ETH-USD+0.0104%1h2,722.9−0.030%$30.4M$71.1M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0056%1h2,723.7−0.002%—$30.1M500xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,725.6+0.067%$46.8M$4.25B50xas long as short
RISEx ETH/USDC+0.0114%1h2,724+0.008%$5.6M$11.6M25xas long as short
Bluefin ETH-PERP+0.0139%1h2,723.6−0.006%$20K$23K25xas long as short
Reya ETHRUSDPERP+0.0177%1h2,722.7−0.038%$7.3M$972K25xas long as short
Orderly PERP_ETH_USDC+0.0186%8h2,725.8+0.074%$32.1M$11.3M100xas long as short