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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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Funding you earn now, next payment 06:00 UTC−0.0180%/8h= −19.7% APRnext payment −$0.23 per $10,000 · paid last 24h −0.050%
Price spread now: Hotstuff against Bulk+0.261%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on BulkShort on Hotstuff
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories
The price spread pays, funding is against you. Hotstuff is 0.261% dearer against Bulk than usual: you sell high and buy low (spread +0.261% now, against zero (this spread has no 7-day history yet)): +$26 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 4.8 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBulk ETH-USD2,722.50.0100pay 0.0013% / 1h20m 19s$160.0M$319.3M25x
ShortHotstuff ETH-PERP2,729.6−0.0080pay 0.0010% / 1h20m 19s$5K$1K50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hotstuff 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
−$37.8
Price spread: +0.261% → 0.000%
$26.06
Slippage, 4 orders
no order book: not counted
Fee Bulk: 3.5 bp × 2 orders
−$7
Fee Hotstuff: 2.5 bp × 2 orders
−$5
Net
−$23.74
Costs to cover
0.120%
Break-even
from the start
Slippage unknown: Bulk: live order book, 4 min ago; Hotstuff: 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, 4 min ago0.02 bp3.5 bp −$43.5 bp −$353.7 bp −$3684.2 bp −$2,086
Sell Hotstuff no order-book sample—————
Hotstuff: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl ETH−0.0447%43m2,728+0.200%$281K$5.7M8.3xas long as short
Hotstuff ETH-PERPshort−0.0080%1h2,729.6+0.261%$5K$1K50x
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,729.5+0.256%$12.0M—200xas long as short
Phoenix ETH−0.0009%1h2,720−0.092%$814K$3.0M25xas long as short
HTX ETH-USDT−0.0007%8h2,729.4+0.254%$1.05B$1.22B200xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,729.7+0.264%$32.8M—200xas long as short
dYdX ETH-USD+0.0007%1h2,729+0.239%$10.4M$42.6M50xas long as short
Injective ETH/USDC PERP+0.0009%1h2,717.1−0.199%$117K$22.5M52xas long as short
BingX ETH-USDC+0.0035%8h2,728.9+0.236%—$18.5M—as long as short
01 Exchange ETHUSD+0.0040%1h2,729.4+0.253%$192K$831K50xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit ETHUSDT+0.0043%8h2,730.1+0.279%$2.35B$4.40B150xas long as short
SunX ETH-USDT+0.0073%8h2,728.9+0.233%$958K$11.1M100xas long as short
Bullet ETH-USD+0.0076%1h2,729+0.239%$181K$1.7M20xas long as short
KuCoin ETHUSDTM+0.0077%8h2,730+0.276%$374.8M$577.3M100xas long as short
Phemex ETHUSDT+0.0085%8h2,729.4+0.254%$263.0M$64.9M150xas long as short
Aster ETHUSDT+0.0087%8h2,730.1+0.280%$252.5M$845.8M200xas long as short
Aftermath Perps ETHUSD+0.0089%1h2,722.9+0.015%$30K$20K20xas long as short
MEXC ETH_USDT+0.0092%8h2,730.5+0.295%$1.54B$2.59B500xas long as short
Binance ETHUSDT+0.0092%8h2,730.5+0.294%$6.32B$16.10B150xas long as short
Lighter ETH+0.0096%1h2,730.1+0.279%$112.3M$435.2M50xas long as short
Lighter RH ETH+0.0096%1h2,731.3+0.321%$23.5M$103.9M50xas long as short
Aevo ETH-PERP+0.0096%1h2,727+0.167%$4.9M$155K20xas long as short
OKX ETH-USDT-SWAP+0.0096%8h2,730.1+0.279%$1.67B$10.86B100xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,720.3−0.080%$8.6M$31.4M100xas long as short
Katana Perps ETH-USD+0.0100%8h2,729.1+0.242%$504K$3.5M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,732.4+0.363%$15.1M$8.0M50xas long as short
Nado ETH-PERP+0.0100%1h2,728.9+0.234%$14.1M$105.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,730.9+0.308%$3.09B$2.04B25xas long as short
Pacifica ETH+0.0100%1h2,729.8+0.267%$32.0M$333.8M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,728.6+0.224%$2.7M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,729.8+0.269%$1.5M$16.2M25xas long as short
Bulk ETH-USDlong+0.0100%1h2,722.5long leg$160.0M$319.3M25x
Gate ETH_USDT+0.0100%8h2,729.5+0.257%$3.30B$9.01B200xas long as short
Bitget ETHUSDT+0.0100%8h2,729.5+0.258%$2.09B$2.78B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,724.9+0.089%$14.9M$42.2M50xas long as short
Variational Omni ETH+0.0100%8h2,724.5+0.073%$133.3M$327.5M—as long as short
edgeX ETHUSDC+0.0100%4h2,720−0.091%$184.3M$677.8M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,720.5−0.074%$158.2M$86.9M50xas long as short
StandX ETH-USD+0.0100%1h2,726.3+0.139%$21.0M$70.1M40xas long as short
Vest ETH-PERP+0.0100%1h2,729.7+0.264%—$875K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,730.2+0.283%$11.2M$9.5M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,729.6+0.261%$22K$21K25xas long as short
Derive ETH-PERP+0.0100%1h2,731.1+0.314%$40.9M$30.2M15xas long as short
SoDEX ETH-USD+0.0100%1h2,729.6+0.261%$54.4M$187.8M40xas long as short
Extended ETH-USD+0.0104%1h2,728.7+0.229%$30.4M$74.2M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,729.3+0.248%—$31.3M500xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,731.1+0.317%$49.8M$4.31B50xas long as short
RISEx ETH/USDC+0.0108%1h2,729.7+0.266%$5.6M$11.8M25xas long as short
Kalshi KXETHPERP+0.0149%8h2,727.7+0.191%$7.0M$693.0M4.9xas long as short
Deribit ETH-PERPETUAL+0.0171%1h2,731+0.310%$259.3M$207.9M50xas long as short
Kraken Futures PF_ETHUSD+0.0176%1h2,730.3+0.288%$83.2M$311.8M100xas long as short
Orderly PERP_ETH_USDC+0.0188%8h2,731.6+0.333%$32.1M$11.5M100xas long as short
Reya ETHRUSDPERP+0.0199%1h2,728.2+0.208%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0264%1h2,724.9+0.088%$249K$1.4M20xas long as short
BloFin ETH-USDT+0.0369%8h2,725+0.093%$280.9M$174.3M150xas long as short