Funding you earn now, next payment 05:00 UTC−0.0077%/8h= −8.4% APRnext payment −$0.10 per $10,000 · paid last 24h −0.028%
Price spread now: Bullet against Bluefin−0.035%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bullet is 0.035% cheaper against Bluefin than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bluefin ETH-PERP | 2,728 | 0.0100 | pay 0.0013% / 1h | 21m 55s | $21K | $20K | 25x |
| Short | Bullet ETH-USD | 2,727 | 0.0023 | get 0.0003% / 1h | 21m 55s | $177K | $1.7M | 20x |
Bluefin ETH-PERP
Bullet ETH-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bullet against Bluefin. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$16.2
- Price spread: −0.035% → 0.000%
- −$3.55
- Slippage, 4 orders
- no order book: not counted
- Fee Bluefin: 3.5 bp × 2 orders
- −$7
- Fee Bullet: 4 bp × 2 orders
- −$8
- Net
- −$34.75
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Bluefin: no order-book sample; Bullet: live order book, 2 min ago. Net counts fees only.
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 Bluefin no order-book sample | — | — | — | — | — |
| Sell Bullet live order book, 2 min ago | 0.18 bp | 4.9 bp −$5 | 8.1 bp −$81 | doesn't fit | doesn't fit |
Bluefin: 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.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Perpl ETH | −0.0335% | 43m | 2,727.3 | −0.024% | $296K | $5.6M | 8.3x | as long as short |
| Hotstuff ETH-PERP | −0.0080% | 1h | 2,727 | −0.036% | $5K | $1K | 50x | as long as short |
| HTX ETH-USDT | −0.0017% | 8h | 2,726.3 | −0.062% | $1.05B | $1.20B | 200x | as long as short |
| GMX ETH/USD [ETH-USDC] | L −0.0010% / S +0.0043% | 1h | 2,727.6 | −0.013% | $11.9M | — | 200x | as long as short |
| Phoenix ETH | −0.0006% | 1h | 2,730.2 | +0.081% | $816K | $2.9M | 25x | as long as short |
| gTrade (Gains Network) ETH/USD | L +0.0007% / S −0.0006% | 1h | 2,727.8 | −0.007% | $28.0M | — | 200x | as long as short |
| dYdX ETH-USD | +0.0008% | 1h | 2,728.3 | +0.011% | $10.7M | $42.1M | 50x | as long as short |
| Bullet ETH-USDshort | +0.0023% | 1h | 2,727 | −0.035% | $177K | $1.7M | 20x | |
| BingX ETH-USDC | +0.0033% | 8h | 2,729.4 | +0.051% | — | $18.4M | — | as long as short |
| Bybit ETHUSDT | +0.0036% | 8h | 2,730.3 | +0.084% | $2.37B | $4.38B | 150x | as long as short |
Perpl ETH
Hotstuff ETH-PERP
HTX ETH-USDT
GMX ETH/USD [ETH-USDC]
Phoenix ETH
gTrade (Gains Network) ETH/USD
dYdX ETH-USD
BingX ETH-USDC
Bybit ETHUSDTShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit ETH-PERPETUAL | +0.0043% | 1h | 2,728.2 | +0.008% | $258.7M | $201.5M | 50x | as long as short |
| 01 Exchange ETHUSD | +0.0048% | 1h | 2,727.3 | −0.025% | $186K | $815K | 50x | as long as short |
| SunX ETH-USDT | +0.0065% | 8h | 2,726.6 | −0.051% | $956K | $11.2M | 100x | as long as short |
| KuCoin ETHUSDTM | +0.0066% | 8h | 2,730.6 | +0.096% | $379.1M | $574.0M | 100x | as long as short |
| ApeX Omni ETHUSDT | +0.0074% | 1h | 2,732.1 | +0.149% | $8.6M | $31.2M | 100x | as long as short |
| OKX ETH-USDT-SWAP | +0.0075% | 8h | 2,730.4 | +0.088% | $1.67B | $10.75B | 100x | as long as short |
| Aster ETHUSDT | +0.0079% | 8h | 2,730.4 | +0.087% | $250.7M | $841.1M | 200x | as long as short |
| SoDEX ETH-USD | +0.0082% | 1h | 2,727 | −0.036% | $54.3M | $187.7M | 40x | as long as short |
| MEXC ETH_USDT | +0.0087% | 8h | 2,728.3 | +0.011% | $1.55B | $2.57B | 500x | as long as short |
| Binance ETHUSDT | +0.0088% | 8h | 2,730.2 | +0.081% | $6.34B | $15.94B | 150x | as long as short |
| Aevo ETH-PERP | +0.0088% | 1h | 2,725.4 | −0.094% | $4.9M | $155K | 20x | as long as short |
| Phemex ETHUSDT | +0.0090% | 8h | 2,727.7 | −0.012% | $264.4M | $65.1M | 150x | as long as short |
| Lighter ETH | +0.0096% | 1h | 2,727.3 | −0.027% | $112.2M | $434.5M | 50x | as long as short |
| Lighter RH ETH | +0.0096% | 1h | 2,728.4 | +0.016% | $23.4M | $104.5M | 50x | as long as short |
| Jupiter Perps ETH-PERP | L +0.0096% / S +0.0048% | 1h | 2,728.2 | +0.006% | — | $31.0M | 500x | as long as short |
| Injective ETH/USDC PERP | +0.0096% | 1h | 2,733.1 | +0.187% | $117K | $22.5M | 52x | as long as short |
| Katana Perps ETH-USD | +0.0100% | 8h | 2,726.2 | −0.066% | $497K | $3.3M | 50x | as long as short |
| Paradex ETH-USD-PERP | +0.0100% | 8h | 2,728.5 | +0.019% | $15.6M | $7.9M | 50x | as long as short |
| Nado ETH-PERP | +0.0100% | 1h | 2,726.6 | −0.051% | $13.7M | $104.5M | 50x | as long as short |
| Hyperliquid ETH | +0.0100% | 1h | 2,728.7 | +0.026% | $3.09B | $2.04B | 25x | as long as short |
| Pacifica ETH | +0.0100% | 1h | 2,727.4 | −0.022% | $31.8M | $333.7M | 50x | as long as short |
| Ondo Perps ETH-USD.P | +0.0100% | 1h | 2,726.1 | −0.069% | $2.7M | $16.7M | 25x | as long as short |
| Arcus ETH-USD | +0.0100% | 1h | 2,727.3 | −0.027% | $1.5M | $16.0M | 25x | as long as short |
| Bulk ETH-USD | +0.0100% | 1h | 2,728.2 | +0.009% | $169.5M | $307.4M | 25x | as long as short |
| Gate ETH_USDT | +0.0100% | 8h | 2,730.1 | +0.076% | $3.33B | $8.92B | 200x | as long as short |
| Bitget ETHUSDT | +0.0100% | 8h | 2,730.7 | +0.099% | $2.07B | $2.73B | 150x | as long as short |
| Backpack ETH_USDC_PERP | +0.0100% | 1h | 2,727.3 | −0.024% | $14.8M | $40.6M | 50x | as long as short |
| Variational Omni ETH | +0.0100% | 8h | 2,729.6 | +0.060% | $133.3M | $321.8M | — | as long as short |
| edgeX ETHUSDC | +0.0100% | 4h | 2,731.8 | +0.140% | $183.8M | $670.4M | 100x | as long as short |
| GRVT ETH_USDT_Perp | +0.0100% | 8h | 2,729.6 | +0.060% | $158.8M | $86.9M | 50x | as long as short |
| StandX ETH-USD | +0.0100% | 1h | 2,729.6 | +0.059% | $21.0M | $69.7M | 40x | as long as short |
| Vest ETH-PERP | +0.0100% | 1h | 2,728.5 | +0.020% | — | $844K | 50x | as long as short |
| Polymarket Perps ETH-USD | +0.0100% | 1h | 2,729.4 | +0.052% | $11.2M | $9.3M | 50x | as long as short |
| Bluefin ETH-PERPlong | +0.0100% | 1h | 2,728 | long leg | $21K | $20K | 25x | |
| Derive ETH-PERP | +0.0100% | 1h | 2,729.1 | +0.042% | $41.2M | $29.9M | 15x | as long as short |
| Extended ETH-USD | +0.0104% | 1h | 2,729.1 | +0.042% | $30.5M | $73.4M | 50x | as long as short |
| Kalshi KXETHPERP | +0.0105% | 8h | 2,728.2 | +0.008% | $6.5M | $684.2M | 4.9x | as long as short |
| RISEx ETH/USDC | +0.0107% | 1h | 2,726.6 | −0.051% | $5.6M | $11.8M | 25x | as long as short |
| Aftermath Perps ETHUSD | +0.0109% | 1h | 2,731.9 | +0.143% | $30K | $20K | 20x | as long as short |
| Coinbase International ETH-PERP-INTX | +0.0120% | 1h | 2,727.6 | −0.014% | $50.8M | $4.27B | 50x | as long as short |
| Kraken Futures PF_ETHUSD | +0.0153% | 1h | 2,727.6 | −0.016% | $83.1M | $315.2M | 100x | as long as short |
| Orderly PERP_ETH_USDC | +0.0194% | 8h | 2,729.9 | +0.069% | $32.1M | $11.6M | 100x | as long as short |
| Reya ETHRUSDPERP | +0.0209% | 1h | 2,727.2 | −0.029% | $7.3M | $1.2M | 25x | as long as short |
| Hibachi ETH/USDT-P | +0.0248% | 1h | 2,730.4 | +0.088% | $242K | $1.4M | 20x | as long as short |
| BloFin ETH-USDT | +0.0350% | 8h | 2,728 | 0.000% | $282.6M | $174.7M | 150x | as long as short |
Deribit ETH-PERPETUAL
01 Exchange ETHUSD
SunX ETH-USDT
KuCoin ETHUSDTM
ApeX Omni ETHUSDT
OKX ETH-USDT-SWAP
Aster ETHUSDT
SoDEX ETH-USD
MEXC ETH_USDT
Binance ETHUSDT
Aevo ETH-PERP
Phemex ETHUSDT
Lighter ETH
Lighter RH ETH
Jupiter Perps ETH-PERP
Injective ETH/USDC PERP
Katana Perps ETH-USD
Paradex ETH-USD-PERP
Nado ETH-PERP
Hyperliquid ETH
Pacifica ETH
Ondo Perps ETH-USD.P
Arcus ETH-USD
Bulk ETH-USD
Gate ETH_USDT
Bitget ETHUSDT
Backpack ETH_USDC_PERP
Variational Omni ETH
edgeX ETHUSDC
GRVT ETH_USDT_Perp
StandX ETH-USD
Vest ETH-PERP
Polymarket Perps ETH-USD
Derive ETH-PERP
Extended ETH-USD
Kalshi KXETHPERP
RISEx ETH/USDC
Aftermath Perps ETHUSD
Coinbase International ETH-PERP-INTX
Kraken Futures PF_ETHUSD
Orderly PERP_ETH_USDC
Reya ETHRUSDPERP
Hibachi ETH/USDT-P
BloFin ETH-USDT