ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0209%/8h= +22.9% APRnext payment +$0.26 per $10,000 · paid last 24h −0.059%

Price spread now: Injective against dYdX−0.039%7-day average +0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$740.743% of the position

Long on dYdX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.025%+$2 on $10k

Price spread, last 3 days (all we have)−0.048%−$5 · spread now −0.039%, 7d avg +0.047%

Together, before fees−0.023%−$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Injective is 0.087% cheaper against dYdX than usual: you would sell low and buy high (spread −0.039% now, against its 7-day average of +0.047%). If the spread goes back, that is −$9 on $10k: about 33 hours of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.025% in total) that is about 25 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.025% in total (about 1.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.26 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ETH-USD	2,749.4	0	get 0.0000% / 1h	3m 05s	$10.8M	$42.0M	50x
Short	Injective ETH/USDC PERP	2,748.3	0.0209	get 0.0026% / 1h	3m 05s	$118K	$22.5M	52x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.039%Rate

Funding earned: $43.97
Price spread: −0.039% → +0.047%: −$8.7
Slippage, 4 orders: −$64.3
Fee dYdX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$39.04
Costs to cover: 0.743%
Break-even: 13.2 days

Slippage from dYdX: live order book, 1 min ago; Injective: live order book, 1 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 dYdX live order book, 1 min ago	0.18 bp	7.4 bp −$7	8.7 bp −$87	10.9 bp −$1,089	24.6 bp −$12.3K
Sell Injective live order book, 1 min ago	16.17 bp	44.9 bp −$45	45.9 bp −$459	46.0 bp −$4,595	doesn't fit

ETH on 54 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	−0.0112%	43m	2,749	−0.016%	$311K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,749.1	−0.010%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,749.1	−0.009%	$5.7M	$11.2M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,748.1	−0.048%	$12.1M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,748.4	−0.036%	$848K	$3.1M	25x	as long as short
dYdX ETH-USDlong	0.0000%	1h	2,749.4	long leg	$10.8M	$42.0M	50x
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,748.7	−0.025%	$22.2M	—	200x	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,749.7	+0.011%	$182K	$988K	50x	as long as short
BingX ETH-USDC	+0.0041%	8h	2,747.6	−0.066%	—	$18.5M	—	as long as short
OKX ETH-USDT-SWAP	+0.0052%	8h	2,747.4	−0.072%	$1.70B	$10.71B	100x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ETHUSDTM	+0.0067%	8h	2,748.6	−0.030%	$369.3M	$605.1M	100x	as long as short
Aster ETHUSDT	+0.0073%	8h	2,748.8	−0.022%	$253.2M	$848.7M	200x	as long as short
ApeX Omni ETHUSDT	+0.0077%	1h	2,745.4	−0.144%	$8.7M	$31.4M	100x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,747.5	−0.068%	$4.9M	$167K	20x	as long as short
MEXC ETH_USDT	+0.0081%	8h	2,748	−0.050%	$1.59B	$2.59B	500x	as long as short
HTX ETH-USDT	+0.0081%	8h	2,748.6	−0.030%	$1.06B	$1.18B	200x	as long as short
Binance ETHUSDT	+0.0082%	8h	2,747.6	−0.065%	$6.39B	$15.97B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,750.2	+0.030%	$58.8M	$4.30B	50x	as long as short
Lighter ETH	+0.0096%	1h	2,749.2	−0.007%	$113.1M	$445.5M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,749.9	+0.020%	$24.8M	$108.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,748.2	−0.043%	—	$31.0M	500x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,753.2	+0.138%	$16.2M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,748.2	−0.043%	$477K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,749.1	−0.011%	$14.0M	$108.2M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,749.8	+0.015%	$3.13B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,749.2	−0.007%	$31.7M	$334.3M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,747.5	−0.070%	$2.47B	$4.24B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,748.4	−0.036%	$2.7M	$16.9M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,749.5	+0.005%	$2.8M	$16.4M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,748.3	−0.041%	$3.40B	$8.95B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,747.5	−0.070%	$2.08B	$2.76B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,747.3	−0.077%	$15.0M	$41.4M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,746.2	−0.117%	$132.8M	$343.9M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,745.3	−0.150%	$181.9M	$700.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,747.1	−0.084%	$159.7M	$82.2M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,748.9	−0.018%	$21.3M	$69.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,749.5	+0.003%	—	$849K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,748.9	−0.018%	$10.7M	$8.6M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,747.7	−0.062%	$182K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,749.1	−0.012%	$21K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,750.6	+0.044%	$41.7M	$29.6M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,748.1	−0.048%	$964K	$12.1M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,748.7	−0.025%	$54.7M	$187.6M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,748.8	−0.020%	$267.7M	$65.8M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,746.2	−0.115%	$164.3M	$302.6M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,748	−0.051%	$30.6M	$73.1M	50x	as long as short
Aftermath Perps ETHUSD	+0.0105%	1h	2,747.5	−0.067%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0148%	8h	2,748.9	−0.018%	$7.9M	$672.5M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0168%	1h	2,750.4	+0.035%	$258.9M	$197.6M	50x	as long as short
Orderly PERP_ETH_USDC	+0.0180%	8h	2,751.4	+0.074%	$32.3M	$11.0M	100x	as long as short
Injective ETH/USDC PERPshort	+0.0209%	1h	2,748.3	−0.039%	$118K	$22.5M	52x
Reya ETHRUSDPERP	+0.0223%	1h	2,747.7	−0.062%	$7.3M	$1.1M	25x	as long as short
Hibachi ETH/USDT-P	+0.0224%	1h	2,749.9	+0.018%	$250K	$1.5M	20x	as long as short
Kraken Futures PF_ETHUSD	+0.0354%	1h	2,749.8	+0.016%	$88.2M	$314.0M	100x	as long as short