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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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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
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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 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.013%
Price spread now: Derive against Bulk+0.141%7-day average +0.030% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on BulkShort on Derive
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.037%+$4 on $10k
Price spread, last 3 days (all we have)−0.068%−$7 · spread now +0.141%, 7d avg +0.030%
Together, before fees−0.030%−$3 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: Derive is 0.111% dearer against Bulk than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.030%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBulk ETH-USD2,751.80.0100pay 0.0013% / 1h26m 20s$165.7M$300.7M25x
ShortDerive ETH-PERP2,755.70.0100get 0.0013% / 1h26m 20s$41.9M$29.5M15x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Derive against Bulk. 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: +0.141% → +0.030%
$11.12
Slippage, 4 orders
no order book: not counted
Fee Bulk: 3.5 bp × 2 orders
−$7
Fee Derive: 3 bp × 2 orders
−$6
Net
−$1.88
Costs to cover
0.130%
Break-even
never at this rate
Slippage unknown: Bulk: live order book, 3 min ago; Derive: no order-book sample. 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 Bulk live order book, 3 min ago0.02 bp3.5 bp −$43.5 bp −$353.7 bp −$3735.7 bp −$2,825
Sell Derive no order-book sample—————
Derive: 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 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−0.0447%43m2,753+0.045%$310K$6.0M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,751.4−0.015%$5K$1K50xas long as short
RISEx ETH/USDC−0.0071%1h2,753.8+0.072%$5.6M$11.3M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,754.1+0.083%$11.9M—200xas long as short
Phoenix ETH−0.0006%1h2,749.4−0.087%$848K$3.1M25xas long as short
dYdX ETH-USD0.0000%1h2,752+0.006%$10.8M$41.9M50xas long as short
ApeX Omni ETHUSDT+0.0003%1h2,750.4−0.049%$8.7M$31.5M100xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,754.3+0.090%$22.2M—200xas long as short
01 Exchange ETHUSD+0.0024%1h2,754.1+0.084%$181K$1.1M50xas long as short
BingX ETH-USDC+0.0034%8h2,753.4+0.057%—$17.3M—as long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0046%8h2,754.1+0.084%$1.69B$10.99B100xas long as short
HTX ETH-USDT+0.0052%8h2,750.7−0.039%$1.07B$1.21B200xas long as short
Aster ETHUSDT+0.0068%8h2,753.5+0.063%$253.2M$856.8M200xas long as short
KuCoin ETHUSDTM+0.0072%8h2,753.2+0.050%$380.6M$607.1M100xas long as short
MEXC ETH_USDT+0.0077%8h2,754+0.080%$1.57B$2.56B500xas long as short
Binance ETHUSDT+0.0079%8h2,753.8+0.073%$6.37B$16.19B150xas long as short
Aevo ETH-PERP+0.0080%1h2,751.5−0.009%$4.9M$168K20xas long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,752.1+0.011%$59.1M$4.36B50xas long as short
Phemex ETHUSDT+0.0091%8h2,750.9−0.033%$267.4M$65.9M150xas long as short
Bitget ETHUSDT+0.0092%8h2,754.2+0.086%$2.08B$2.84B150xas long as short
Gate ETH_USDT+0.0094%8h2,754.2+0.088%$3.40B$8.88B200xas long as short
Lighter ETH+0.0096%1h2,752.3+0.018%$113.1M$442.6M50xas long as short
Lighter RH ETH+0.0096%1h2,753.3+0.055%$24.9M$107.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,752.9+0.038%—$35.4M500xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,758.2+0.232%$16.3M$8.2M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,752.6+0.029%$470K$2.9M50xas long as short
Nado ETH-PERP+0.0100%1h2,753.2+0.051%$14.0M$112.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,756+0.153%$3.14B$2.13B25xas long as short
Pacifica ETH+0.0100%1h2,753+0.045%$31.6M$333.9M50xas long as short
Bybit ETHUSDT+0.0100%8h2,754+0.081%$2.46B$4.33B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,751.80.000%$2.8M$16.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,753.9+0.075%$2.8M$16.5M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,750.5−0.048%$15.1M$41.7M50xas long as short
Variational Omni ETH+0.0100%8h2,753.3+0.054%$133.3M$345.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,750.1−0.060%$181.8M$700.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,748.1−0.133%$159.8M$83.5M50xas long as short
StandX ETH-USD+0.0100%1h2,752.4+0.022%$21.3M$67.8M40xas long as short
Vest ETH-PERP+0.0100%1h2,753.9+0.076%—$869K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,754.3+0.091%$10.8M$8.7M50xas long as short
Bullet ETH-USD+0.0100%1h2,753.8+0.073%$183K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,754.1+0.084%$21K$21K25xas long as short
Derive ETH-PERPshort+0.0100%1h2,755.7+0.141%$41.9M$29.5M15x
SunX ETH-USDT+0.0100%8h2,751.6−0.009%$964K$12.4M100xas long as short
SoDEX ETH-USD+0.0100%1h2,750.9−0.033%$54.8M$187.6M40xas long as short
Bulk ETH-USDlong+0.0100%1h2,751.8long leg$165.7M$300.7M25x
Aftermath Perps ETHUSD+0.0103%1h2,749.8−0.073%$30K$20K20xas long as short
Extended ETH-USD+0.0104%1h2,752.3+0.017%$30.5M$73.6M50xas long as short
Deribit ETH-PERPETUAL+0.0139%1h2,752.3+0.017%$258.5M$200.2M50xas long as short
Kalshi KXETHPERP+0.0141%8h2,752.6+0.029%$7.6M$674.6M4.9xas long as short
Orderly PERP_ETH_USDC+0.0170%8h2,756.5+0.171%$32.4M$11.1M100xas long as short
Hibachi ETH/USDT-P+0.0200%1h2,751.7−0.004%$250K$1.5M20xas long as short
Injective ETH/USDC PERP+0.0209%1h2,748.4−0.124%$118K$22.5M52xas long as short
Reya ETHRUSDPERP+0.0220%1h2,753.6+0.065%$7.3M$1.1M25xas long as short
Kraken Futures PF_ETHUSD+0.0354%1h2,751.7−0.003%$90.0M$316.4M100xas long as short