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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 23:00 UTC−0.0155%/8h= −17.0% APRnext payment −$0.19 per $10,000 · paid last 24h −0.055%
Price spread now: Hotstuff against Deribit+0.014%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on DeribitShort on Hotstuff
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$5 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongDeribit ETH-PERPETUAL2,773.40.0075pay 0.0009% / 1h32m 22s$258.3M$222.2M50x
ShortHotstuff ETH-PERP2,773.8−0.0080pay 0.0010% / 1h32m 22s$5K$2K50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hotstuff 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

Funding earned
−$32.55
Price spread: +0.014% → 0.000%
$1.44
Slippage, 4 orders
no order book: not counted
Fee Deribit: 3.5 bp × 2 orders
−$7
Fee Hotstuff: 2.5 bp × 2 orders
−$5
Net
−$43.11
Costs to cover
0.120%
Break-even
never at this rate
Slippage unknown: Deribit: live order book, 2 min ago; Hotstuff: 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 Deribit live order book, 2 min ago0.09 bp4.4 bp −$45.7 bp −$5710.6 bp −$1,05918.3 bp −$9,138
Sell Hotstuff no order-book sample—————
Hotstuff: 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
Perpl ETH−0.0447%43m2,773.9+0.018%$288K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,773.2−0.009%$5.8M$12.1M25xas long as short
Hotstuff ETH-PERPshort−0.0080%1h2,773.8+0.014%$5K$2K50x
Injective ETH/USDC PERP−0.0041%1h2,775.4+0.072%$119K$22.5M52xas long as short
01 Exchange ETHUSD−0.0040%1h2,773.40.000%$169K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0027%1h2,776.9+0.127%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,773.8+0.015%$12.7M$45.5M50xas long as short
Phoenix ETH0.0000%1h2,779.8+0.231%$885K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,772.6−0.031%$22.4M—200xas long as short
BingX ETH-USDT+0.0015%8h2,771.7−0.062%—$1.18B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phemex ETHUSDT+0.0016%8h2,775.5+0.075%$270.0M$68.6M150xas long as short
OKX ETH-USDT-SWAP+0.0020%8h2,771.8−0.057%$1.70B$11.82B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0027% / S +0.0009%1h2,772.4−0.036%$13.0M—200xas long as short
Aster ETHUSDT+0.0036%8h2,771.5−0.067%$255.9M$990.2M200xas long as short
Bullet ETH-USD+0.0039%1h2,771.6−0.067%$180K$1.7M20xas long as short
MEXC ETH_USDT+0.0060%8h2,771.7−0.063%$1.62B$2.66B500xas long as short
Binance ETHUSDT+0.0061%8h2,771.6−0.065%$6.43B$17.13B150xas long as short
Nado ETH-PERP+0.0062%1h2,773.1−0.010%$14.3M$118.0M50xas long as short
Aevo ETH-PERP+0.0064%1h2,770.6−0.102%$5.0M$636K20xas long as short
Gate ETH_USDT+0.0072%8h2,771.5−0.067%$3.28B$9.59B200xas long as short
Bitget ETHUSDT+0.0072%8h2,771.7−0.061%$2.10B$3.10B150xas long as short
Deribit ETH-PERPETUALlong+0.0075%1h2,773.4long leg$258.3M$222.2M50x
SoDEX ETH-USD+0.0083%1h2,771.8−0.058%$55.2M$228.8M40xas long as short
ApeX Omni ETHUSDT+0.0094%1h2,775.4+0.073%$8.7M$32.5M100xas long as short
HTX ETH-USDT+0.0094%8h2,776.2+0.101%$1.08B$1.32B200xas long as short
Bybit ETHUSDT+0.0094%8h2,771.7−0.061%$2.51B$4.60B150xas long as short
Lighter ETH+0.0096%1h2,773.8+0.013%$114.9M$499.2M50xas long as short
Lighter RH ETH+0.0096%1h2,775+0.057%$25.4M$121.1M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,773.6+0.008%—$41.5M500xas long as short
KuCoin ETHUSDTM+0.0099%8h2,771.8−0.058%$425.0M$738.0M100xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,773.3−0.003%$15.9M$10.5M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,774+0.022%$481K$2.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,773.8+0.014%$3.19B$2.37B25xas long as short
Pacifica ETH+0.0100%1h2,774.2+0.029%$31.4M$297.6M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,772.8−0.022%$2.8M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,775.1+0.060%$2.8M$17.3M25xas long as short
Bulk ETH-USD+0.0100%1h2,781.3+0.286%$166.9M$248.1M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,775.6+0.078%$15.2M$44.5M50xas long as short
Variational Omni ETH+0.0100%8h2,774.6+0.043%$135.3M$322.5M—as long as short
edgeX ETHUSDC+0.0100%4h2,774.9+0.053%$179.9M$780.0M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,777+0.130%$161.5M$91.0M50xas long as short
StandX ETH-USD+0.0100%1h2,777.4+0.144%$21.4M$57.9M40xas long as short
Vest ETH-PERP+0.0100%1h2,773.40.000%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,772.7−0.025%$10.8M$7.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,772.4−0.036%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,774.1+0.026%$42.7M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,771−0.085%$972K$14.0M100xas long as short
Extended ETH-USD+0.0104%1h2,771.2−0.078%$31.6M$74.5M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,773.8+0.016%$60.1M$4.59B50xas long as short
Kalshi KXETHPERP+0.0119%8h2,778.1+0.169%$8.5M$674.6M4.9xas long as short
Orderly PERP_ETH_USDC+0.0137%8h2,774.3+0.032%$32.5M$12.0M100xas long as short
Hibachi ETH/USDT-P+0.0160%1h2,778.5+0.186%$279K$1.5M20xas long as short
Kraken Futures PF_ETHUSD+0.0170%1h2,773.7+0.011%$86.3M$331.1M100xas long as short
BloFin ETH-USDT+0.0181%8h2,775.4+0.074%$285.0M$194.4M150xas long as short
Reya ETHRUSDPERP+0.0190%1h2,771.4−0.073%$7.4M$1.2M25xas long as short