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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.004%
Price spread now: Katana Perps against Bulk−0.005%7-day average −0.047% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on BulkShort on Katana Perps
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.008%+$1 on $10k
Price spread, last 7 days−0.020%−$2 · spread now −0.005%, 7d avg −0.047%
Together, before fees−0.012%−$1 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: Katana Perps is 0.042% dearer against Bulk than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.047%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBulk ETH-USD2,734.80.0100pay 0.0013% / 1h21m 41s$164.8M$300.4M25x
ShortKatana Perps ETH-USD2,734.70.0100get 0.0100% / 8h4h 21m$500K$3.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Katana Perps 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
−$0.04
Price spread: −0.005% → −0.047%
$4.25
Slippage, 4 orders
no order book: not counted
Fee Bulk: 3.5 bp × 2 orders
−$7
Fee Katana Perps: 1.9 bp × 2 orders
−$3.8
Net
−$6.6
Costs to cover
0.108%
Break-even
never at this rate
Slippage unknown: Bulk: live order book, 2 min ago; Katana Perps: 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, 2 min ago0.02 bp3.5 bp −$43.5 bp −$353.5 bp −$3524.3 bp −$2,152
Sell Katana Perps no order-book sample—————
Katana Perps: 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%43m2,734.9+0.002%$297K$5.6M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,735.3+0.017%$117K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,734.9+0.003%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,734−0.032%$11.9M—200xas long as short
dYdX ETH-USD0.0000%1h2,733−0.067%$10.8M$41.6M50xas long as short
01 Exchange ETHUSD0.0000%1h2,735.2+0.014%$187K$823K50xas long as short
Phoenix ETH0.0000%1h2,735+0.006%$830K$2.9M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,734.1−0.028%$28.1M—200xas long as short
Bullet ETH-USD+0.0008%1h2,733.6−0.045%$179K$1.7M20xas long as short
ApeX Omni ETHUSDT+0.0043%1h2,735+0.004%$8.7M$31.3M100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
HTX ETH-USDT+0.0048%8h2,731.7−0.115%$1.06B$1.20B200xas long as short
BingX ETH-USDC+0.0055%8h2,732.8−0.076%—$18.4M—as long as short
Bybit ETHUSDT+0.0063%8h2,732.3−0.094%$2.38B$4.35B150xas long as short
KuCoin ETHUSDTM+0.0065%8h2,733.2−0.061%$380.2M$574.6M100xas long as short
OKX ETH-USDT-SWAP+0.0071%8h2,732.1−0.102%$1.67B$10.71B100xas long as short
Phemex ETHUSDT+0.0071%8h2,733.6−0.045%$265.8M$65.3M150xas long as short
SoDEX ETH-USD+0.0085%1h2,733.7−0.041%$54.4M$187.6M40xas long as short
Aster ETHUSDT+0.0087%8h2,733−0.066%$250.9M$842.6M200xas long as short
MEXC ETH_USDT+0.0095%8h2,732.4−0.090%$1.54B$2.56B500xas long as short
Binance ETHUSDT+0.0095%8h2,732.5−0.086%$6.35B$15.86B150xas long as short
Lighter ETH+0.0096%1h2,732.9−0.072%$112.9M$440.1M50xas long as short
Lighter RH ETH+0.0096%1h2,734−0.031%$23.4M$106.5M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,734.6−0.009%—$30.9M500xas long as short
Aevo ETH-PERP+0.0096%1h2,731.3−0.131%$4.9M$155K20xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,736.8+0.073%$15.5M$8.0M50xas long as short
RISEx ETH/USDC+0.0099%1h2,735.1+0.009%$5.5M$11.6M25xas long as short
Katana Perps ETH-USDshort+0.0100%8h2,734.7−0.005%$500K$3.2M50x
Nado ETH-PERP+0.0100%1h2,733.8−0.037%$13.8M$104.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,735.3+0.017%$3.10B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,733.5−0.049%$31.9M$334.7M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,732.7−0.078%$2.7M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,735.2+0.014%$1.6M$16.2M25xas long as short
Gate ETH_USDT+0.0100%8h2,733.4−0.053%$3.34B$8.90B200xas long as short
Bitget ETHUSDT+0.0100%8h2,733.1−0.064%$2.07B$2.74B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,732.2−0.095%$15.0M$39.6M50xas long as short
Variational Omni ETH+0.0100%8h2,732.8−0.075%$133.6M$325.4M—as long as short
edgeX ETHUSDC+0.0100%4h2,733.7−0.043%$183.9M$671.0M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,733.7−0.042%$159.0M$86.6M50xas long as short
StandX ETH-USD+0.0100%1h2,734.3−0.019%$21.1M$68.1M40xas long as short
Vest ETH-PERP+0.0100%1h2,735.1+0.009%—$843K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,735.8+0.036%$11.2M$9.1M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,734.6−0.010%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,735.6+0.028%$41.3M$29.9M15xas long as short
SunX ETH-USDT+0.0100%8h2,733.7−0.040%$958K$11.3M100xas long as short
Bulk ETH-USDlong+0.0100%1h2,734.8long leg$164.8M$300.4M25x
Extended ETH-USD+0.0104%1h2,732.4−0.090%$30.3M$72.5M50xas long as short
Deribit ETH-PERPETUAL+0.0108%1h2,735+0.005%$260.1M$195.7M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,734.9+0.001%$51.4M$4.27B50xas long as short
Aftermath Perps ETHUSD+0.0116%1h2,735+0.006%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0139%8h2,734.4−0.016%$6.7M$678.2M4.9xas long as short
Orderly PERP_ETH_USDC+0.0194%8h2,736.2+0.049%$32.2M$11.6M100xas long as short
Reya ETHRUSDPERP+0.0219%1h2,733.1−0.065%$7.3M$1.2M25xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,734.3−0.020%$83.3M$314.7M100xas long as short
Hibachi ETH/USDT-P+0.0256%1h2,736+0.045%$253K$1.4M20xas long as short
BloFin ETH-USDT+0.0379%8h2,735.3+0.016%$282.7M$175.2M150xas long as short