ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0043%/8h= −4.7% APRnext payment −$0.05 per $10,000 · paid last 24h −0.038%

Price spread now: GMX against dYdX−0.055%7-day average +0.008% · you buy dearer than you sell

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

Long on dYdX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.207%−$21 on $10k

Price spread, last 4 days (all we have)+0.082%+$8 · spread now −0.055%, 7d avg +0.008%

Together, before fees−0.125%−$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and GMX is 0.063% cheaper against dYdX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.008%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ETH-USD	2,726.5	0	get 0.0000% / 1h	31m 12s	$10.5M	$41.9M	50x
Short	GMX ETH/USD [ETH-USDC]	2,725	L −0.0010% / S +0.0043%	pay 0.0005% / 1h	31m 12s	$11.9M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against dYdX. 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 dYdXbpFee GMXbpOrdersPrice spread, now −0.055%Rate

Funding earned: −$9.1
Price spread: −0.055% → +0.008%: −$6.32
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$37.41
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: dYdX: live order book, 3 min ago; GMX: 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 dYdX live order book, 3 min ago	2.38 bp	7.4 bp −$7	9.7 bp −$97	13.9 bp −$1,393	29.9 bp −$14.9K
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
BloFin ETH-USDT	−0.0166%	8h	2,723.9	−0.096%	$279.9M	$176.3M	150x	as long as short
HTX ETH-USDT	−0.0140%	8h	2,723.3	−0.119%	$1.05B	$1.20B	200x	as long as short
Perpl ETH	−0.0112%	43m	2,725	−0.054%	$275K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,724.7	−0.066%	$5K	$1K	50x	as long as short
Bybit ETHUSDT	−0.0079%	8h	2,724.2	−0.084%	$2.31B	$4.29B	150x	as long as short
SunX ETH-USDT	−0.0073%	8h	2,723.8	−0.100%	$939K	$10.6M	100x	as long as short
ApeX Omni ETHUSDT	−0.0014%	1h	2,726.8	+0.009%	$8.3M	$31.3M	100x	as long as short
Phoenix ETH	−0.0012%	1h	2,732	+0.202%	$806K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]short	L −0.0010% / S +0.0043%	1h	2,725	−0.055%	$11.9M	—	200x
dYdX ETH-USDlong	0.0000%	1h	2,726.5	long leg	$10.5M	$41.9M	50x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXETHPERP	0.0000%	8h	2,725.1	−0.051%	$6.7M	$669.5M	4.9x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,724.8	−0.064%	$264.3M	$219.8M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,724.5	−0.074%	$32.9M	—	200x	as long as short
Gate ETH_USDT	+0.0014%	8h	2,724.5	−0.072%	$3.27B	$8.27B	200x	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,725.2	−0.048%	$194K	$887K	50x	as long as short
Hibachi ETH/USDT-P	+0.0040%	1h	2,725.7	−0.030%	$237K	$1.4M	20x	as long as short
SoDEX ETH-USD	+0.0045%	1h	2,723.7	−0.103%	$54.3M	$182.4M	40x	as long as short
Aster ETHUSDT	+0.0072%	8h	2,724.5	−0.073%	$252.1M	$841.8M	200x	as long as short
OKX ETH-USDT-SWAP	+0.0075%	8h	2,724.5	−0.072%	$1.65B	$10.61B	100x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,724.7	−0.067%	$4.9M	$195K	20x	as long as short
KuCoin ETHUSDTM	+0.0082%	8h	2,724.6	−0.070%	$382.5M	$564.9M	100x	as long as short
Binance ETHUSDT	+0.0083%	8h	2,724.3	−0.079%	$6.30B	$15.99B	150x	as long as short
MEXC ETH_USDT	+0.0085%	8h	2,724.5	−0.072%	$1.58B	$2.56B	500x	as long as short
Bullet ETH-USD	+0.0089%	1h	2,723.9	−0.095%	$175K	$1.7M	20x	as long as short
Lighter ETH	+0.0096%	1h	2,725.2	−0.047%	$112.3M	$402.3M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,726.4	−0.003%	$23.6M	$96.2M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,725.4	−0.039%	—	$30.4M	500x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,724.8	−0.062%	$497K	$3.6M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,728.9	+0.088%	$15.4M	$7.1M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,725	−0.054%	$14.3M	$101.0M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,726.9	+0.015%	$3.10B	$2.03B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,726	−0.018%	$32.0M	$333.3M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,724.9	−0.059%	$2.7M	$16.3M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,725.5	−0.038%	$1.6M	$15.8M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,729.4	+0.106%	$164.7M	$339.6M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,724.7	−0.065%	$2.11B	$2.73B	150x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,723.9	−0.096%	—	$18.7M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,724.6	−0.071%	$15.1M	$39.8M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,730.8	+0.156%	$132.0M	$316.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,727.5	+0.038%	$185.6M	$683.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,731.8	+0.194%	$158.8M	$80.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,726.6	+0.004%	$20.9M	$70.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,726.7	+0.007%	—	$436K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,722.9	−0.132%	$11.2M	$9.3M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,732.9	+0.234%	$40.6M	$29.2M	15x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,724.7	−0.065%	$262.5M	$63.2M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,722.9	−0.132%	$30.5M	$70.5M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0105%	1h	2,724.7	−0.068%	$81.8M	$309.0M	100x	as long as short
Aftermath Perps ETHUSD	+0.0118%	1h	2,729.4	+0.108%	$30K	$20K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,724.8	−0.063%	$45.8M	$4.21B	50x	as long as short
RISEx ETH/USDC	+0.0137%	1h	2,724.7	−0.065%	$5.6M	$11.4M	25x	as long as short
Reya ETHRUSDPERP	+0.0172%	1h	2,723.7	−0.104%	$7.3M	$972K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0183%	8h	2,726.1	−0.016%	$32.1M	$10.9M	100x	as long as short
Injective ETH/USDC PERP	+0.0253%	1h	2,729.2	+0.099%	$204K	$21.4M	52x	as long as short
Bluefin ETH-PERP	+0.1639%	1h	2,724.9	−0.060%	$20K	$23K	25x	as long as short