ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0180%/8h= −19.7% APRnext payment −$0.23 per $10,000 · paid last 24h −0.063%

Price spread now: Hotstuff against Derive−0.057%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Derive Short 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

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Hotstuff is 0.057% cheaper against Derive than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive ETH-PERP	2,771.4	0.0100	pay 0.0013% / 1h	11m 41s	$42.5M	$28.9M	15x
Short	Hotstuff ETH-PERP	2,769.8	−0.0080	pay 0.0010% / 1h	11m 41s	$5K	$1K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Derive. 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 DerivebpFee HotstuffbpOrdersPrice spread, now −0.057%Rate

Funding earned: −$37.8
Price spread: −0.057% → 0.000%: −$5.73
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$54.53
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Derive no order-book sample	—	—	—	—	—
Sell Hotstuff no order-book sample	—	—	—	—	—

Derive and 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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective ETH/USDC PERP	−0.0752%	1h	2,773.8	+0.087%	$119K	$22.5M	52x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,769.3	−0.074%	$5.6M	$11.2M	25x	as long as short
Perpl ETH	−0.0112%	43m	2,769.9	−0.053%	$325K	$6.2M	8.3x	as long as short
Hotstuff ETH-PERPshort	−0.0080%	1h	2,769.8	−0.057%	$5K	$1K	50x
01 Exchange ETHUSD	−0.0032%	1h	2,770.2	−0.043%	$169K	$1.1M	50x	as long as short
Phoenix ETH	−0.0003%	1h	2,770.2	−0.043%	$872K	$3.7M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,769.9	−0.054%	$12.3M	$43.0M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,770.1	−0.046%	$22.4M	—	200x	as long as short
Bullet ETH-USD	+0.0013%	1h	2,769.1	−0.082%	$186K	$1.7M	20x	as long as short
OKX ETH-USDT-SWAP	+0.0030%	8h	2,768.9	−0.089%	$1.71B	$11.01B	100x	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	+0.0039%	1h	2,769.5	−0.068%	$55.2M	$187.8M	40x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0043% / S −0.0009%	1h	2,769.9	−0.052%	$12.7M	—	200x	as long as short
Aster ETHUSDT	+0.0050%	8h	2,769.2	−0.078%	$256.1M	$859.9M	200x	as long as short
Binance ETHUSDT	+0.0060%	8h	2,768.8	−0.093%	$6.47B	$16.16B	150x	as long as short
MEXC ETH_USDT	+0.0061%	8h	2,768.9	−0.089%	$1.61B	$2.66B	500x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,766.6	−0.173%	$5.0M	$156K	20x	as long as short
Gate ETH_USDT	+0.0072%	8h	2,769.2	−0.079%	$3.38B	$9.09B	200x	as long as short
HTX ETH-USDT	+0.0076%	8h	2,769	−0.086%	$1.07B	$1.24B	200x	as long as short
Bitget ETHUSDT	+0.0078%	8h	2,769	−0.085%	$2.10B	$2.83B	150x	as long as short
Aftermath Perps ETHUSD	+0.0080%	1h	2,770.3	−0.038%	$31K	$21K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,770.7	−0.027%	$60.3M	$4.41B	50x	as long as short
Vest ETH-PERP	+0.0082%	1h	2,769.7	−0.061%	—	$876K	50x	as long as short
KuCoin ETHUSDTM	+0.0088%	8h	2,768.8	−0.092%	$420.0M	$596.7M	100x	as long as short
Phemex ETHUSDT	+0.0093%	8h	2,769.4	−0.074%	$269.5M	$66.0M	150x	as long as short
ApeX Omni ETHUSDT	+0.0094%	1h	2,769.3	−0.075%	$8.6M	$32.0M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,769.4	−0.073%	$115.1M	$459.9M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,770.9	−0.018%	$25.5M	$112.1M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,773.1	+0.062%	$15.9M	$8.4M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,769.9	−0.054%	$480K	$2.8M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,768.9	−0.091%	$14.6M	$113.1M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,771.6	+0.008%	$3.17B	$2.19B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,769.5	−0.067%	$31.2M	$328.0M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,769.2	−0.080%	$2.51B	$4.30B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,769.2	−0.079%	$2.8M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,769.9	−0.055%	$2.8M	$16.8M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,763.5	−0.283%	$172.0M	$292.0M	25x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,769	−0.088%	—	$1.20B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,768.8	−0.092%	$15.2M	$41.8M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,768.4	−0.107%	$133.7M	$347.6M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,769	−0.088%	$181.8M	$786.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,770.3	−0.040%	$161.1M	$84.3M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,771.5	+0.004%	$21.4M	$64.1M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,769.2	−0.079%	$10.5M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,769.9	−0.055%	$21K	$22K	25x	as long as short
Derive ETH-PERPlong	+0.0100%	1h	2,771.4	long leg	$42.5M	$28.9M	15x
SunX ETH-USDT	+0.0100%	8h	2,768.5	−0.104%	$971K	$12.9M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,768.2	−0.115%	$30.9M	$74.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,770.5	−0.031%	—	$36.1M	500x	as long as short
Kalshi KXETHPERP	+0.0112%	8h	2,770.7	−0.025%	$8.2M	$674.1M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,771.1	−0.012%	$97.9M	$314.8M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0156%	8h	2,772.1	+0.026%	$32.7M	$11.0M	100x	as long as short
Hibachi ETH/USDT-P	+0.0160%	1h	2,771.8	+0.016%	$253K	$1.5M	20x	as long as short
BloFin ETH-USDT	+0.0181%	8h	2,770	−0.050%	$287.8M	$178.2M	150x	as long as short
Deribit ETH-PERPETUAL	+0.0205%	1h	2,771.2	−0.008%	$259.1M	$202.5M	50x	as long as short
Reya ETHRUSDPERP	+0.0214%	1h	2,768.7	−0.098%	$7.3M	$1.1M	25x	as long as short