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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 03:00 UTC+0.0127%/8h= +13.9% APRpaid last 24h +0.018%
Price spread now: Reya against Bybit+0.043%7-day average −0.026% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on BybitShort on Reya
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.057%+$6 on $10k
Price spread, last 7 days−0.074%−$7 · spread now +0.043%, 7d avg −0.026%
Together, before fees−0.017%+ Points / potential airdropReya: Active · farm board−$2 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Reya is 0.069% dearer against Bybit than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.026%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit ETHUSDT2,741.20.0100pay 0.0100% / 8h5h 07m$2.45B$4.17B150x
ShortReya ETHRUSDPERP2,742.40.0227get 0.0028% / 1h7m 54s$7.3M$1.2M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Reya 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
$26.65
Price spread: +0.043% → −0.026%
$6.94
Slippage, 4 orders
no order book: not counted
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Reya: 3 bp × 2 orders
−$6
Net
$16.59
Costs to cover
0.170%
Break-even
2.6 days
Slippage unknown: Bybit: live order book, 1 min ago; Reya: 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 Bybit live order book, 1 min ago0.02 bp5.5 bp −$65.5 bp −$556.2 bp −$6168.4 bp −$4,216
Sell Reya no order-book sample—————
Reya: 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
Hotstuff ETH-PERP−0.0080%1h2,742.7+0.055%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,735.6−0.204%$117K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,743.8+0.096%$12.1M—200xas long as short
Perpl ETH0.0000%43m2,742.9+0.062%$304K$5.6M8.3xas long as short
dYdX ETH-USD0.0000%1h2,743.5+0.084%$10.8M$41.7M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,744.6+0.125%$25.3M—200xas long as short
Phoenix ETH+0.0017%1h2,744.6+0.124%$848K$2.9M25xas long as short
01 Exchange ETHUSD+0.0024%1h2,743.6+0.088%$182K$836K50xas long as short
ApeX Omni ETHUSDT+0.0032%1h2,744.4+0.117%$8.8M$30.7M100xas long as short
BingX ETH-USDT+0.0054%8h2,741.1−0.003%—$1.14B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0068%8h2,741.1−0.003%$1.70B$10.54B100xas long as short
KuCoin ETHUSDTM+0.0071%8h2,742+0.027%$381.9M$575.2M100xas long as short
Bullet ETH-USD+0.0073%1h2,743.2+0.072%$182K$1.7M20xas long as short
RISEx ETH/USDC+0.0077%1h2,743.7+0.090%$5.6M$11.4M25xas long as short
SoDEX ETH-USD+0.0087%1h2,743.3+0.077%$54.6M$187.5M40xas long as short
Aster ETHUSDT+0.0087%8h2,742.4+0.044%$253.7M$840.8M200xas long as short
Binance ETHUSDT+0.0094%8h2,741.4+0.009%$6.37B$15.68B150xas long as short
MEXC ETH_USDT+0.0094%8h2,741.4+0.008%$1.57B$2.56B500xas long as short
Lighter ETH+0.0096%1h2,743.8+0.094%$112.8M$436.2M50xas long as short
Lighter RH ETH+0.0096%1h2,745.1+0.141%$24.6M$104.3M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,742.5+0.049%—$30.4M500xas long as short
Aevo ETH-PERP+0.0096%1h2,740.3−0.031%$4.9M$154K20xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,744.7+0.128%$54.5M$4.26B50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,747.3+0.221%$16.0M$7.9M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,743.1+0.069%$474K$3.1M50xas long as short
Nado ETH-PERP+0.0100%1h2,743+0.066%$13.9M$104.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,744.8+0.131%$3.12B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,743.4+0.080%$31.7M$333.8M50xas long as short
Bybit ETHUSDTlong+0.0100%8h2,741.2long leg$2.45B$4.17B150x
Ondo Perps ETH-USD.P+0.0100%1h2,741.20.000%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,743.5+0.085%$2.8M$16.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,746.6+0.196%$165.7M$303.2M25xas long as short
Gate ETH_USDT+0.0100%8h2,742+0.027%$3.39B$8.78B200xas long as short
Bitget ETHUSDT+0.0100%8h2,741.5+0.009%$2.08B$2.72B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,742.5+0.047%$15.0M$39.3M50xas long as short
Variational Omni ETH+0.0100%8h2,743.1+0.069%$133.1M$325.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,742.7+0.055%$182.3M$665.4M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,745.1+0.141%$159.6M$83.5M50xas long as short
StandX ETH-USD+0.0100%1h2,746.9+0.208%$21.2M$68.4M40xas long as short
Vest ETH-PERP+0.0100%1h2,743.8+0.096%—$815K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,744.2+0.109%$11.0M$8.8M50xas long as short
Derive ETH-PERP+0.0100%1h2,745.4+0.152%$41.5M$29.7M15xas long as short
SunX ETH-USDT+0.0100%8h2,742.3+0.039%$961K$11.4M100xas long as short
HTX ETH-USDT+0.0100%8h2,743.1+0.071%$1.06B$1.18B200xas long as short
Phemex ETHUSDT+0.0100%8h2,743.5+0.083%$266.6M$64.9M150xas long as short
Extended ETH-USD+0.0104%1h2,741−0.009%$30.7M$72.0M50xas long as short
Aftermath Perps ETHUSD+0.0137%1h2,744.9+0.134%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0160%8h2,743.8+0.095%$7.7M$671.0M4.9xas long as short
Orderly PERP_ETH_USDC+0.0195%8h2,745.8+0.166%$32.3M$11.4M100xas long as short
Deribit ETH-PERPETUAL+0.0202%1h2,745.1+0.140%$260.0M$195.6M50xas long as short
BloFin ETH-USDT+0.0215%8h2,743.2+0.074%$284.9M$179.7M150xas long as short
Kraken Futures PF_ETHUSD+0.0221%1h2,744.4+0.115%$86.5M$310.0M100xas long as short
Reya ETHRUSDPERPshort+0.0227%1h2,742.4+0.043%$7.3M$1.2M25x
Hibachi ETH/USDT-P+0.0256%1h2,747+0.212%$252K$1.4M20xas long as short
Bluefin ETH-PERP+0.0346%1h2,744.1+0.106%$21K$20K25xas long as short