ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0040%/8h= −4.4% APRnext payment −$0.05 per $10,000 · paid last 24h +0.002%

Price spread now: Kraken Futures against Derive+0.105%183s7-day average −0.047% · you sell dearer than you buy

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

Long on Derive Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.027%−$3 on $10k

Price spread, last 4 days (all we have)−0.155%−$15 · spread now +0.105%, 7d avg −0.047%

Together, before fees−0.182%−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.153% dearer against Derive than usual: you sell high and buy low (spread +0.105% now, against its 7-day average of −0.047%): +$15 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 13 days. At the pace of the last 7 days (−0.027% in total) that is about 39 days. The two prices were read 183 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive ETH-PERP	2,724.6	0.0100	pay 0.0013% / 1h	19m 08s	$40.8M	$29.9M	15x
Short	Kraken Futures PF_ETHUSD	2,727.5	0.0060	get 0.0007% / 1h	19m 08s	$81.9M	$310.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.105%Rate

Funding earned: −$8.41
Price spread: +0.105% → −0.047%: $15.26
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$9.15
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; Kraken Futures: live order book, 5 min ago. 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 Kraken Futures live order book, 5 min ago	0.37 bp	5.6 bp −$6	6.6 bp −$66	8.4 bp −$842	11.7 bp −$5,851

Derive: 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
Perpl ETH	−0.0447%	43m	2,725.5	+0.032%	$276K	$5.7M	8.3x	as long as short
BloFin ETH-USDT	−0.0177%	8h	2,726	+0.050%	$281.9M	$177.6M	150x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,724.2	−0.016%	$5K	$1K	50x	as long as short
Phoenix ETH	−0.0015%	1h	2,724.5	−0.005%	$808K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,727.1	+0.089%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,725	+0.013%	$10.5M	$41.9M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,725.9	+0.046%	$6.7M	$678.6M	4.9x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,727.7	+0.111%	$263.5M	$213.6M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,727.3	+0.098%	$32.9M	—	200x	as long as short
BingX ETH-USDC	+0.0017%	8h	2,726.3	+0.060%	—	$18.7M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0020%	8h	2,726.7	+0.077%	$2.32B	$4.34B	150x	as long as short
HTX ETH-USDT	+0.0031%	8h	2,726.5	+0.067%	$1.05B	$1.22B	200x	as long as short
01 Exchange ETHUSD	+0.0032%	1h	2,727.3	+0.097%	$190K	$884K	50x	as long as short
Injective ETH/USDC PERP	+0.0050%	1h	2,730.5	+0.215%	$166K	$21.6M	52x	as long as short
ApeX Omni ETHUSDT	+0.0051%	1h	2,722.5	−0.078%	$8.4M	$31.5M	100x	as long as short
Hibachi ETH/USDT-P	+0.0056%	1h	2,724.1	−0.019%	$241K	$1.4M	20x	as long as short
Kraken Futures PF_ETHUSDshort	+0.0060%	1h	2,727.5	+0.105%	$81.9M	$310.8M	100x
OKX ETH-USDT-SWAP	+0.0072%	8h	2,726.9	+0.082%	$1.65B	$10.80B	100x	as long as short
KuCoin ETHUSDTM	+0.0074%	8h	2,727	+0.086%	$382.3M	$577.5M	100x	as long as short
Aster ETHUSDT	+0.0076%	8h	2,726.5	+0.069%	$252.6M	$847.3M	200x	as long as short
MEXC ETH_USDT	+0.0088%	8h	2,727	+0.086%	$1.58B	$2.59B	500x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,724.9	+0.009%	$4.9M	$172K	20x	as long as short
Binance ETHUSDT	+0.0088%	8h	2,726.8	+0.077%	$6.31B	$16.12B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,727.4	+0.100%	$112.3M	$433.0M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,728.6	+0.146%	$23.4M	$102.4M	50x	as long as short
Phemex ETHUSDT	+0.0099%	8h	2,726.5	+0.068%	$262.7M	$64.5M	150x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,726.5	+0.068%	$500K	$3.6M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,729.8	+0.191%	$15.3M	$7.6M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,726.7	+0.076%	$14.0M	$104.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,729.1	+0.163%	$3.11B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,726.3	+0.062%	$32.1M	$333.3M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,725.6	+0.035%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,727.1	+0.090%	$1.6M	$16.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,727	+0.087%	$3.31B	$8.93B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,727	+0.087%	$2.11B	$2.77B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,726.3	+0.062%	$15.0M	$40.5M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,722.2	−0.089%	$133.6M	$316.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,721.7	−0.108%	$185.2M	$682.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,723.4	−0.045%	$158.3M	$81.9M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,724.1	−0.020%	$20.9M	$70.2M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,727.9	+0.120%	—	$445K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,728.2	+0.130%	$11.2M	$9.4M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,726.9	+0.082%	$182K	$1.7M	20x	as long as short
Derive ETH-PERPlong	+0.0100%	1h	2,724.6	long leg	$40.8M	$29.9M	15x
SunX ETH-USDT	+0.0100%	8h	2,725.5	+0.032%	$956K	$10.8M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,727	+0.086%	$54.3M	$182.7M	40x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,726.7	+0.076%	$161.2M	$356.8M	25x	as long as short
Aftermath Perps ETHUSD	+0.0100%	1h	2,725	+0.013%	$30K	$20K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,726.1	+0.052%	$30.4M	$71.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0056%	1h	2,727.3	+0.098%	—	$30.2M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,728.5	+0.140%	$46.6M	$4.28B	50x	as long as short
RISEx ETH/USDC	+0.0114%	1h	2,727.4	+0.101%	$5.6M	$11.7M	25x	as long as short
Reya ETHRUSDPERP	+0.0180%	1h	2,726.2	+0.055%	$7.3M	$972K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0184%	8h	2,729.3	+0.170%	$32.2M	$11.2M	100x	as long as short
Bluefin ETH-PERP	+0.0407%	1h	2,726.7	+0.075%	$20K	$23K	25x	as long as short