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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 23:00 UTC+0.0006%/8h= +0.7% APRpaid last 24h +0.003%
Price spread now: Pacifica against Bybit+0.038%7-day average +0.008% · you sell dearer than you buy
Net, funding: paid 7d − costs−$16as in the Funding arb table
Net, price: spread back to 7d avg − costs−$17as in the Price arb table
costs, in and out, $10k−$200.196% of the position
Long on BybitShort on Pacifica
What this pair did over the last
the charts below follow
Funding, last 7 days+0.040%+$4 on $10k
Price spread, last 7 days−0.036%−$4 · spread now +0.038%, 7d avg +0.008%
Together, before fees+0.004%+ Points / potential airdropPacifica: Active · farm board$0 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: Pacifica is 0.030% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.008%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit ETHUSDT2,776.40.0094pay 0.0094% / 8h1h 34m$2.52B$4.60B150x
ShortPacifica ETH2,777.40.0100get 0.0013% / 1h34m 15s$31.4M$297.6M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Pacifica against Bybit. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$1.26
Price spread: +0.038% → +0.008%
$2.99
Slippage, 4 orders
−$0.61
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Pacifica: 4 bp × 2 orders
−$8
Net
−$15.36
Costs to cover
0.196%
Break-even
92.2 days
Slippage from Bybit: live order book, 5 min ago; Pacifica: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bybit live order book, 5 min ago0.02 bp5.5 bp −$66.0 bp −$607.6 bp −$75810.2 bp −$5,106
Sell Pacifica live order book, 5 min ago0.18 bp4.4 bp −$44.9 bp −$49doesn't fitdoesn't fit

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%43m2,776.5+0.005%$289K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,775.2−0.040%$5.8M$12.1M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,776.8+0.016%$5K$2K50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,777.1+0.027%$119K$22.5M52xas long as short
01 Exchange ETHUSD−0.0032%1h2,775.3−0.038%$169K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0030%1h2,777.3+0.033%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,776.8+0.015%$12.7M$45.5M50xas long as short
Phoenix ETH0.0000%1h2,779.8+0.124%$885K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,777.2+0.031%$22.4M—200xas long as short
BingX ETH-USDT+0.0015%8h2,776.4+0.001%—$1.18B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phemex ETHUSDT+0.0017%8h2,776.7+0.012%$270.1M$68.6M150xas long as short
OKX ETH-USDT-SWAP+0.0020%8h2,776.7+0.012%$1.71B$11.83B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0027% / S +0.0009%1h2,777+0.024%$13.0M—200xas long as short
Aster ETHUSDT+0.0035%8h2,776.3−0.001%$256.6M$989.9M200xas long as short
Bullet ETH-USD+0.0040%1h2,774.9−0.051%$180K$1.7M20xas long as short
Nado ETH-PERP+0.0057%1h2,777+0.022%$14.2M$117.8M50xas long as short
Binance ETHUSDT+0.0061%8h2,776.3−0.002%$6.44B$17.11B150xas long as short
MEXC ETH_USDT+0.0061%8h2,774.5−0.068%$1.62B$2.65B500xas long as short
Aevo ETH-PERP+0.0064%1h2,775.8−0.018%$5.0M$636K20xas long as short
Bitget ETHUSDT+0.0072%8h2,777.1+0.027%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0073%8h2,775.9−0.015%$3.29B$9.59B200xas long as short
SoDEX ETH-USD+0.0089%1h2,776.9+0.020%$55.3M$228.8M40xas long as short
HTX ETH-USDT+0.0094%8h2,776.3−0.003%$1.08B$1.32B200xas long as short
Bybit ETHUSDTlong+0.0094%8h2,776.4long leg$2.52B$4.60B150x
Lighter ETH+0.0096%1h2,777.6+0.045%$115.0M$498.9M50xas long as short
Lighter RH ETH+0.0096%1h2,778.4+0.074%$25.4M$121.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,776.9+0.020%—$41.5M500xas long as short
KuCoin ETHUSDTM+0.0099%8h2,775−0.050%$426.2M$737.9M100xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,776.7+0.014%$16.0M$10.5M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,776.1−0.009%$480K$2.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,777.6+0.045%$3.19B$2.37B25xas long as short
Pacifica ETHshort+0.0100%1h2,777.4+0.038%$31.4M$297.6M50x
Ondo Perps ETH-USD.P+0.0100%1h2,776.2−0.005%$2.8M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,777.6+0.043%$2.8M$17.3M25xas long as short
Bulk ETH-USD+0.0100%1h2,781.3+0.179%$166.9M$248.1M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,777.3+0.035%$15.2M$44.5M50xas long as short
Variational Omni ETH+0.0100%8h2,774.6−0.064%$135.3M$322.5M—as long as short
edgeX ETHUSDC+0.0100%4h2,776.2−0.004%$179.9M$779.7M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,776.3−0.003%$161.5M$91.0M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,777.9+0.055%$8.7M$32.5M100xas long as short
StandX ETH-USD+0.0100%1h2,777.8+0.052%$21.4M$57.9M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,776−0.013%$10.8M$7.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,777.6+0.046%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,779.1+0.098%$42.7M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,776.4+0.001%$973K$14.0M100xas long as short
Vest ETH-PERP+0.0100%1h2,775.7−0.024%—$1.1M50xas long as short
Extended ETH-USD+0.0104%1h2,776.3−0.002%$31.6M$74.6M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,778.4+0.072%$60.3M$4.60B50xas long as short
Kalshi KXETHPERP+0.0117%8h2,776.9+0.020%$8.6M$673.9M4.9xas long as short
Deribit ETH-PERPETUAL+0.0117%1h2,778.7+0.085%$258.3M$222.0M50xas long as short
Orderly PERP_ETH_USDC+0.0137%8h2,779.3+0.106%$32.6M$12.0M100xas long as short
Hibachi ETH/USDT-P+0.0152%1h2,778.6+0.082%$279K$1.5M20xas long as short
Kraken Futures PF_ETHUSD+0.0169%1h2,778.4+0.074%$86.3M$330.6M100xas long as short
BloFin ETH-USDT+0.0181%8h2,777+0.022%$284.8M$194.5M150xas long as short
Reya ETHRUSDPERP+0.0190%1h2,774.5−0.068%$7.4M$1.2M25xas long as short