ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0029%/8h= +3.2% APRnext payment +$0.04 per $10,000 · paid last 24h −0.004%

Price spread now: Coinbase International against Deribit0.000%7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$180.179% of the position

Long on Deribit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.047%+$5 on $10k

Price spread, last 4 days (all we have)−0.002%$0 · spread now 0.000%, 7d avg −0.010%

Together, before fees+0.045%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.010%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ETH-PERPETUAL	2,730	0.0083	pay 0.0010% / 1h	41m 54s	$260.1M	$196.8M	50x
Short	Coinbase International ETH-PERP-INTX	2,730	0.0112	get 0.0014% / 1h	41m 54s	$51.7M	$4.26B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Deribit. 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 DeribitbpFee Coinbase InternationalbpOrdersPrice spread, now 0.000%Rate

Funding earned: $6.09
Price spread: 0.000% → −0.010%: $1
Slippage, 4 orders: −$0.92
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$10.83
Costs to cover: 0.179%
Break-even: 19.4 days

Slippage from Deribit: live order book, 2 min ago; Coinbase International: live order book, 2 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 Deribit live order book, 2 min ago	0.09 bp	4.3 bp −$4	5.3 bp −$53	11.7 bp −$1,173	27.6 bp −$13.8K
Sell Coinbase International live order book, 2 min ago	0.02 bp	5.0 bp −$5	5.0 bp −$50	7.4 bp −$742	18.9 bp −$9,450

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
Perpl ETH	−0.0447%	43m	2,728.4	−0.056%	$297K	$5.6M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,732.2	+0.082%	$117K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,728.4	−0.057%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,729.2	−0.027%	$11.9M	—	200x	as long as short
ApeX Omni ETHUSDT	−0.0005%	1h	2,729.9	−0.004%	$8.9M	$31.3M	100x	as long as short
dYdX ETH-USD	0.0000%	1h	2,728.3	−0.062%	$10.7M	$41.7M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,728.3	−0.061%	$188K	$841K	50x	as long as short
Phoenix ETH	0.0000%	1h	2,728.1	−0.068%	$830K	$2.9M	25x	as long as short
Bullet ETH-USD	+0.0006%	1h	2,728.6	−0.050%	$181K	$1.7M	20x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,729.3	−0.024%	$26.2M	—	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX ETH-USD	+0.0050%	1h	2,728.6	−0.050%	$54.3M	$187.6M	40x	as long as short
BingX ETH-USDT	+0.0058%	8h	2,729	−0.035%	—	$1.14B	—	as long as short
KuCoin ETHUSDTM	+0.0070%	8h	2,729.2	−0.029%	$380.3M	$576.1M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0073%	8h	2,729.6	−0.015%	$1.67B	$10.70B	100x	as long as short
Aster ETHUSDT	+0.0081%	8h	2,729.3	−0.026%	$251.3M	$844.4M	200x	as long as short
HTX ETH-USDT	+0.0082%	8h	2,728	−0.073%	$1.05B	$1.19B	200x	as long as short
Deribit ETH-PERPETUALlong	+0.0083%	1h	2,730	long leg	$260.1M	$196.8M	50x
Aevo ETH-PERP	+0.0088%	1h	2,726.4	−0.132%	$4.9M	$155K	20x	as long as short
MEXC ETH_USDT	+0.0089%	8h	2,729.2	−0.029%	$1.52B	$2.55B	500x	as long as short
Binance ETHUSDT	+0.0090%	8h	2,729.2	−0.028%	$6.34B	$15.86B	150x	as long as short
Bybit ETHUSDT	+0.0092%	8h	2,729.1	−0.033%	$2.39B	$4.34B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,729.4	−0.020%	$112.0M	$435.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,730.5	+0.021%	$23.2M	$105.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,729.5	−0.018%	—	$30.6M	500x	as long as short
Paradex ETH-USD-PERP	+0.0098%	8h	2,732.4	+0.090%	$15.6M	$8.0M	50x	as long as short
RISEx ETH/USDC	+0.0099%	1h	2,728.8	−0.043%	$5.6M	$11.5M	25x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,727.6	−0.086%	$499K	$3.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,728.2	−0.066%	$13.7M	$104.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,731.1	+0.042%	$3.10B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,729.6	−0.012%	$31.6M	$333.8M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,728.6	−0.050%	$2.7M	$16.9M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,728.6	−0.052%	$2.8M	$16.2M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,729.2	−0.029%	$3.34B	$8.82B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,729.2	−0.029%	$2.07B	$2.75B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,728.8	−0.042%	$15.0M	$39.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,728.4	−0.058%	$133.1M	$325.5M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,726.2	−0.137%	$182.6M	$671.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,730.7	+0.026%	$158.9M	$86.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,730.4	+0.016%	$21.1M	$69.5M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,729.4	−0.020%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,730.2	+0.009%	$11.1M	$9.1M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,730.4	+0.015%	$41.2M	$29.7M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,727.9	−0.076%	$956K	$11.4M	100x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,729	−0.035%	$265.3M	$65.4M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,730.9	+0.034%	$166.8M	$318.0M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,728.6	−0.051%	$30.4M	$72.6M	50x	as long as short
Coinbase International ETH-PERP-INTXshort	+0.0112%	1h	2,730	0.000%	$51.7M	$4.26B	50x
Aftermath Perps ETHUSD	+0.0120%	1h	2,731.8	+0.066%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0152%	8h	2,728.5	−0.053%	$6.4M	$677.4M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0193%	8h	2,731.3	+0.048%	$32.1M	$11.6M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0222%	1h	2,729.2	−0.027%	$84.2M	$314.0M	100x	as long as short
Reya ETHRUSDPERP	+0.0223%	1h	2,728	−0.070%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,730.5	+0.021%	$253K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0333%	8h	2,728.7	−0.045%	$284.6M	$174.8M	150x	as long as short
Bluefin ETH-PERP	+0.0413%	1h	2,729.6	−0.014%	$21K	$20K	25x	as long as short