ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0020%/8h= −2.1% APRnext payment −$0.20 per $10,000 · paid last 24h −0.049%

Price spread now: Kalshi against BloFin−0.006%61s7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$240.238% of the position

Long on BloFin Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.273%−$27 on $10k

Price spread, last 3 days (all we have)+0.384%+$38 · spread now −0.006%, 7d avg −0.033%

Together, before fees+0.112%+$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.027% dearer against BloFin than usual: you sell high and buy low (spread −0.006% now, against its 7-day average of −0.033%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.6 days. At the pace of the last 7 days (−0.273% in total) that is about 17 hours. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ETH-USDT	2,803.7	0.0166	pay 0.0166% / 8h	3h 31m	$292.1M	$196.3M	150x
Short	Kalshi KXETHPERP	2,803.5	0.0146	get 0.0146% / 8h	7h 31m	$8.8M	$660.4M	4.9x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against BloFin. 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

Position, each leg$Hold fordaysFee BloFinbpFee KalshibpOrdersPrice spread, now −0.006%Rate

Funding earned: −$4.12
Price spread: −0.006% → −0.033%: $2.69
Slippage, 4 orders: −$1.84
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$25.27
Costs to cover: 0.238%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Kalshi: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BloFin live order book, 3 min ago	0.11 bp	6.2 bp −$6	6.6 bp −$66	7.3 bp −$734	9.2 bp −$4,623
Sell Kalshi live order book, 3 min ago	0.18 bp	5.3 bp −$5	6.9 bp −$69	11.2 bp −$1,120	17.0 bp −$8,479

ETH on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ETH	−0.0112%	43m	2,799.6	−0.143%	$299K	$6.8M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,802.7	−0.034%	$5K	$2K	50x	as long as short
Phemex ETHUSDT	−0.0034%	8h	2,800.4	−0.115%	$270.0M	$66.1M	150x	as long as short
Phoenix ETH	−0.0032%	1h	2,795.5	−0.291%	$804K	$3.5M	25x	as long as short
RISEx ETH/USDC	−0.0005%	1h	2,800.8	−0.102%	$5.8M	$12.2M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,802.1	−0.055%	$13.8M	$43.8M	50x	as long as short
Injective ETH/USDC PERP	+0.0003%	1h	2,798.9	−0.170%	$120K	$22.5M	52x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,800.9	−0.098%	$22.6M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0016%	8h	2,800.2	−0.122%	$1.70B	$11.94B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0025% / S +0.0011%	1h	2,800.5	−0.114%	$12.9M	—	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ETHUSD	+0.0040%	1h	2,800.7	−0.106%	$177K	$1.2M	50x	as long as short
MEXC ETH_USDT	+0.0046%	8h	2,800.1	−0.127%	$1.56B	$2.56B	500x	as long as short
Binance ETHUSDT	+0.0046%	8h	2,800.6	−0.108%	$6.51B	$17.10B	150x	as long as short
Bulk ETH-USD	+0.0047%	1h	2,803.2	−0.017%	$167.8M	$262.8M	25x	as long as short
Aevo ETH-PERP	+0.0048%	1h	2,803.1	−0.019%	$5.1M	$651K	20x	as long as short
Gate ETH_USDT	+0.0063%	8h	2,800.8	−0.102%	$3.34B	$9.49B	200x	as long as short
Bitget ETHUSDT	+0.0071%	8h	2,800.2	−0.123%	$2.10B	$3.14B	150x	as long as short
Aster ETHUSDT	+0.0076%	8h	2,801.2	−0.089%	$263.1M	$995.7M	200x	as long as short
Aftermath Perps ETHUSD	+0.0077%	1h	2,794	−0.345%	$30K	$22K	20x	as long as short
Bullet ETH-USD	+0.0091%	1h	2,799.4	−0.153%	$193K	$1.8M	20x	as long as short
Lighter ETH	+0.0096%	1h	2,800.7	−0.104%	$117.0M	$513.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,802	−0.061%	$25.6M	$124.6M	50x	as long as short
Variational Omni ETH	+0.0099%	8h	2,794	−0.343%	$141.4M	$311.2M	—	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,800.8	−0.102%	$487K	$2.7M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,850.6	+1.672%	$16.6M	$11.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,801.6	−0.073%	$17.5M	$115.1M	50x	as long as short
Pacifica ETH	+0.0100%	1h	2,801.2	−0.087%	$31.8M	$271.8M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,800.5	−0.112%	$2.55B	$4.62B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,801.7	−0.070%	$2.9M	$16.4M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,802.5	−0.042%	$2.8M	$17.1M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,800.7	−0.107%	$409.9M	$737.5M	100x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,800.6	−0.108%	—	$17.2M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,801.6	−0.074%	$15.6M	$42.4M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,795.4	−0.293%	$180.6M	$769.1M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,794.1	−0.339%	$162.5M	$96.5M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,800.2	−0.125%	$8.4M	$29.2M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,797.6	−0.216%	$21.6M	$58.4M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,801	−0.094%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,801.3	−0.084%	$10.9M	$7.9M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,803.4	−0.009%	$22K	$25K	25x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,798.3	−0.190%	$980K	$14.4M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,801.9	−0.063%	$56.1M	$206.7M	40x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,802.4	−0.046%	$1.09B	$1.30B	200x	as long as short
Extended ETH-USD	+0.0104%	1h	2,800	−0.131%	$31.8M	$76.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,802.4	−0.044%	—	$46.6M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,804	+0.012%	$60.7M	$4.68B	50x	as long as short
Orderly PERP_ETH_USDC	+0.0115%	8h	2,805.6	+0.067%	$32.9M	$11.5M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,803.6	−0.001%	$89.3M	$336.0M	100x	as long as short
Kalshi KXETHPERPshort	+0.0146%	8h	2,803.5	−0.006%	$8.8M	$660.4M	4.9x
Hyperliquid ETH	+0.0156%	1h	2,803.9	+0.009%	$3.28B	$2.31B	25x	as long as short
BloFin ETH-USDTlong	+0.0166%	8h	2,803.7	long leg	$292.1M	$196.3M	150x
Hibachi ETH/USDT-P	+0.0200%	1h	2,799.4	−0.152%	$260K	$1.6M	20x	as long as short
Reya ETHRUSDPERP	+0.0211%	1h	2,797.9	−0.207%	$7.5M	$985K	25x	as long as short
Deribit ETH-PERPETUAL	+0.0253%	1h	2,804.3	+0.024%	$259.2M	$220.4M	50x	as long as short
Derive ETH-PERP	+0.0290%	1h	2,806	+0.082%	$43.4M	$29.2M	15x	as long as short