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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 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%
Price spread now: Variational Omni against Bybit−0.121%7-day average +0.006% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on BybitShort on Variational Omni
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.015%+$1 on $10k
Price spread, last 7 days+0.105%+$10 · spread now −0.121%, 7d avg +0.006%
Together, before fees+0.120%+ Points / potential airdropVariational Omni: Active · farm board+$12 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: Variational Omni is 0.127% cheaper against Bybit than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.006%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit ETHUSDT2,772.50.0100pay 0.0100% / 8h7h 09m$2.51B$4.27B150x
ShortVariational Omni ETH2,769.20.0100get 0.0100% / 8h7h 09m$134.1M$347.1M—

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Variational Omni 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
$0
Price spread: −0.121% → +0.006%
−$12.67
Slippage, 4 orders
no order book: not counted
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Variational Omni: 0 bp × 2 orders
$0
Net
−$23.67
Costs to cover
0.110%
Break-even
never at this rate
Slippage unknown: Bybit: live order book, 5 min ago; Variational Omni: RFQ quote, 5 min ago. 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, 5 min ago0.02 bp5.5 bp −$66.1 bp −$617.6 bp −$75710.5 bp −$5,269
Sell Variational Omni RFQ quote, 5 min ago0.49 bpdoesn't fit0.5 bp −$54.9 bp −$485doesn'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
Injective ETH/USDC PERP−0.0752%1h2,773.8+0.047%$119K$22.5M52xas long as short
RISEx ETH/USDC−0.0128%1h2,774.1+0.056%$5.6M$11.2M25xas long as short
Perpl ETH−0.0112%43m2,773.8+0.045%$323K$6.2M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,774.6+0.075%$5K$1K50xas long as short
01 Exchange ETHUSD−0.0032%1h2,774+0.054%$169K$1.1M50xas long as short
Phoenix ETH−0.0003%1h2,770.8−0.062%$872K$3.7M25xas long as short
dYdX ETH-USD0.0000%1h2,774.7+0.078%$12.3M$42.8M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,773.2+0.026%$22.4M—200xas long as short
Phemex ETHUSDT+0.0006%8h2,772.4−0.004%$269.8M$65.9M150xas long as short
Bullet ETH-USD+0.0015%1h2,772.8+0.010%$185K$1.7M20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0031%8h2,772.2−0.013%$1.71B$10.97B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0043% / S −0.0009%1h2,773.2+0.026%$12.7M—200xas long as short
SoDEX ETH-USD+0.0045%1h2,771.8−0.026%$55.2M$187.7M40xas long as short
Aster ETHUSDT+0.0051%8h2,772.7+0.007%$256.4M$861.4M200xas long as short
Aevo ETH-PERP+0.0056%1h2,770.8−0.063%$5.0M$156K20xas long as short
MEXC ETH_USDT+0.0059%8h2,772.7+0.008%$1.61B$2.66B500xas long as short
Binance ETHUSDT+0.0060%8h2,772.1−0.014%$6.48B$16.06B150xas long as short
Aftermath Perps ETHUSD+0.0072%1h2,771.4−0.039%$31K$21K20xas long as short
HTX ETH-USDT+0.0077%8h2,771.9−0.022%$1.08B$1.23B200xas long as short
Bitget ETHUSDT+0.0079%8h2,772.5+0.001%$2.10B$2.82B150xas long as short
Coinbase International ETH-PERP-INTX+0.0080%1h2,773.3+0.029%$60.4M$4.40B50xas long as short
Gate ETH_USDT+0.0084%8h2,772.9+0.016%$3.38B$9.10B200xas long as short
Vest ETH-PERP+0.0085%1h2,773.9+0.050%—$876K50xas long as short
ApeX Omni ETHUSDT+0.0089%1h2,769−0.127%$8.6M$31.4M100xas long as short
KuCoin ETHUSDTM+0.0089%8h2,773.9+0.051%$421.1M$594.3M100xas long as short
Lighter ETH+0.0096%1h2,772.7+0.005%$115.2M$460.2M50xas long as short
Lighter RH ETH+0.0096%1h2,774.1+0.058%$25.6M$112.1M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,778.6+0.219%$16.0M$8.2M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,773.6+0.039%$486K$2.8M50xas long as short
Nado ETH-PERP+0.0100%1h2,773.8+0.045%$14.6M$112.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,775.3+0.101%$3.17B$2.10B25xas long as short
Pacifica ETH+0.0100%1h2,774.6+0.075%$31.4M$328.9M50xas long as short
Bybit ETHUSDTlong+0.0100%8h2,772.5long leg$2.51B$4.27B150x
Ondo Perps ETH-USD.P+0.0100%1h2,774.2+0.061%$2.8M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,774.7+0.079%$2.8M$16.7M25xas long as short
Bulk ETH-USD+0.0100%1h2,763.5−0.324%$172.0M$292.0M25xas long as short
BingX ETH-USDT+0.0100%8h2,772.9+0.013%—$1.20B—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,773.4+0.031%$15.2M$41.7M50xas long as short
Variational Omni ETHshort+0.0100%8h2,769.2−0.121%$134.1M$347.1M—
edgeX ETHUSDC+0.0100%4h2,768.6−0.143%$183.7M$750.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,771.4−0.041%$161.1M$84.1M50xas long as short
StandX ETH-USD+0.0100%1h2,771.1−0.051%$21.4M$64.2M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,773.5+0.036%$10.5M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,773.3+0.027%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,774.2+0.061%$42.6M$28.9M15xas long as short
SunX ETH-USDT+0.0100%8h2,772.3−0.006%$972K$12.8M100xas long as short
Extended ETH-USD+0.0104%1h2,771.7−0.029%$30.9M$74.5M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,773.9+0.050%—$36.0M500xas long as short
Kalshi KXETHPERP+0.0116%8h2,774.8+0.083%$8.2M$673.4M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0134%1h2,773.4+0.033%$98.0M$314.3M100xas long as short
Orderly PERP_ETH_USDC+0.0157%8h2,775.1+0.092%$32.7M$11.0M100xas long as short
Hibachi ETH/USDT-P+0.0160%1h2,774.4+0.068%$253K$1.5M20xas long as short
Deribit ETH-PERPETUAL+0.0168%1h2,773.5+0.037%$259.1M$201.6M50xas long as short
BloFin ETH-USDT+0.0180%8h2,771.6−0.035%$288.0M$175.4M150xas long as short
Reya ETHRUSDPERP+0.0214%1h2,772.7+0.007%$7.3M$1.1M25xas long as short