ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0111%/8h= +12.1% APRnext payment +$0.14 per $10,000 · paid last 24h +0.021%

Price spread now: Kraken Futures against Bulk−0.047%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$170.175% of the position

Long on Bulk Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.046%+$5 · spread now −0.047%, 7d avg −0.011%

Together, before fees+0.049%+$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.035% cheaper against Bulk than usual: you would sell low and buy high (spread −0.047% now, against its 7-day average of −0.011%). If the spread goes back, that is −$4 on $10k: about 26 hours of funding at the current rate (+$3 a day). At the pace of the last 4 days (+0.003% in total) that is about 49 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk ETH-USD	2,731.8	0.0100	pay 0.0013% / 1h	3m 02s	$164.2M	$349.6M	25x
Short	Kraken Futures PF_ETHUSD	2,730.5	0.0211	get 0.0026% / 1h	3m 02s	$82.1M	$309.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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

Position, each leg$Hold fordaysFee BulkbpFee Kraken FuturesbpOrdersPrice spread, now −0.047%Rate

Funding earned: $23.23
Price spread: −0.047% → −0.011%: −$3.55
Slippage, 4 orders: −$0.49
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $2.19
Costs to cover: 0.175%
Break-even: 6.3 days

Slippage from Bulk: live order book, 1 min ago; Kraken Futures: live order book, 1 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 Bulk live order book, 1 min ago	0.02 bp	3.5 bp −$4	3.5 bp −$35	3.5 bp −$352	4.9 bp −$2,437
Sell Kraken Futures live order book, 1 min ago	0.18 bp	5.2 bp −$5	6.6 bp −$66	7.9 bp −$793	11.3 bp −$5,664

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
Hotstuff ETH-PERP	−0.0080%	1h	2,731.4	−0.015%	$5K	$1K	50x	as long as short
Injective ETH/USDC PERP	−0.0040%	1h	2,734.2	+0.088%	$117K	$22.5M	52x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,729.7	−0.076%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,734.4	+0.095%	$814K	$3.0M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,731.3	−0.020%	$10.5M	$42.8M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,731.1	−0.026%	$6.7M	$682.4M	4.9x	as long as short
Perpl ETH	0.0000%	43m	2,730.7	−0.040%	$288K	$5.8M	8.3x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,731	−0.028%	$262.5M	$213.2M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,731.2	−0.024%	$33.0M	—	200x	as long as short
ApeX Omni ETHUSDT	+0.0014%	1h	2,732.5	+0.026%	$8.6M	$31.5M	100x	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	+0.0016%	1h	2,731.6	−0.008%	$191K	$890K	50x	as long as short
BingX ETH-USDT	+0.0022%	8h	2,728.8	−0.109%	—	$1.10B	—	as long as short
Bybit ETHUSDT	+0.0027%	8h	2,728	−0.140%	$2.33B	$4.38B	150x	as long as short
HTX ETH-USDT	+0.0030%	8h	2,730	−0.068%	$1.05B	$1.22B	200x	as long as short
KuCoin ETHUSDTM	+0.0068%	8h	2,729.9	−0.072%	$385.7M	$577.7M	100x	as long as short
SoDEX ETH-USD	+0.0071%	1h	2,730	−0.066%	$54.4M	$187.2M	40x	as long as short
OKX ETH-USDT-SWAP	+0.0080%	8h	2,728	−0.139%	$1.65B	$10.85B	100x	as long as short
Aster ETHUSDT	+0.0082%	8h	2,729.1	−0.099%	$252.8M	$846.9M	200x	as long as short
Phemex ETHUSDT	+0.0091%	8h	2,730.1	−0.061%	$262.9M	$64.5M	150x	as long as short
Bullet ETH-USD	+0.0091%	1h	2,729.7	−0.077%	$188K	$1.7M	20x	as long as short
Binance ETHUSDT	+0.0094%	8h	2,728.4	−0.125%	$6.33B	$16.11B	150x	as long as short
MEXC ETH_USDT	+0.0095%	8h	2,729.8	−0.074%	$1.54B	$2.61B	500x	as long as short
Lighter ETH	+0.0096%	1h	2,730.9	−0.035%	$112.7M	$439.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,732	+0.006%	$23.5M	$103.5M	50x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,727.4	−0.162%	$4.9M	$174K	20x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,730.7	−0.040%	$502K	$3.5M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,734.8	+0.108%	$15.4M	$7.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,730.9	−0.034%	$14.1M	$104.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,731.3	−0.019%	$3.10B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,731.9	+0.005%	$32.0M	$332.9M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,730.7	−0.040%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,731.6	−0.007%	$1.5M	$16.1M	25x	as long as short
Bulk ETH-USDlong	+0.0100%	1h	2,731.8	long leg	$164.2M	$349.6M	25x
Gate ETH_USDT	+0.0100%	8h	2,729.9	−0.069%	$3.30B	$9.05B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,728.3	−0.129%	$2.10B	$2.77B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,729.2	−0.097%	$15.1M	$41.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,732.5	+0.026%	$134.3M	$320.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,732.3	+0.020%	$185.8M	$683.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,732.5	+0.024%	$158.8M	$83.7M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,732	+0.007%	$21.0M	$70.2M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,732	+0.006%	—	$445K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,731.6	−0.008%	$11.2M	$9.5M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,730.6	−0.046%	$22K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,732.6	+0.030%	$40.9M	$30.1M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,729.9	−0.068%	$958K	$10.9M	100x	as long as short
Aftermath Perps ETHUSD	+0.0101%	1h	2,732.7	+0.034%	$30K	$20K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,727.3	−0.167%	$30.4M	$73.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0056%	1h	2,731.6	−0.008%	—	$30.5M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,731.5	−0.012%	$46.5M	$4.30B	50x	as long as short
RISEx ETH/USDC	+0.0115%	1h	2,731.6	−0.009%	$5.6M	$11.6M	25x	as long as short
Hibachi ETH/USDT-P	+0.0120%	1h	2,731.7	−0.003%	$243K	$1.4M	20x	as long as short
Orderly PERP_ETH_USDC	+0.0185%	8h	2,732.2	+0.015%	$32.2M	$11.3M	100x	as long as short
Reya ETHRUSDPERP	+0.0187%	1h	2,729.1	−0.100%	$7.3M	$975K	25x	as long as short
Kraken Futures PF_ETHUSDshort	+0.0211%	1h	2,730.5	−0.047%	$82.1M	$309.7M	100x
BloFin ETH-USDT	+0.0319%	8h	2,730.2	−0.058%	$281.2M	$176.0M	150x	as long as short