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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 05:00 UTC−0.0021%/8h= −2.3% APRnext payment −$0.03 per $10,000 · paid last 24h −0.028%
Price spread now: Phoenix against dYdX−0.128%7-day average +0.099% · you buy dearer than you sell
Net, funding: paid 7d − costs−$33as in the Funding arb table
Net, price: spread back to 7d avg − costs−$46as in the Price arb table
costs, in and out, $10k−$240.237% of the position
Long on dYdXShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days−0.095%−$10 on $10k
Price spread, last 7 days+0.177%+$18 · spread now −0.128%, 7d avg +0.099%
Together, before fees+0.082%+$8 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 Phoenix is 0.227% cheaper against dYdX than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of +0.099%). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongdYdX ETH-USD2,725.10.0012pay 0.0002% / 1h35m 32s$10.8M$41.9M50x
ShortPhoenix ETH2,721.6−0.0009pay 0.0001% / 1h35m 32s$814K$3.0M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix 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

Funding earned
−$4.39
Price spread: −0.128% → +0.099%
−$22.67
Slippage, 4 orders
−$6.7
Fee dYdX: 5 bp × 2 orders
−$10
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$50.76
Costs to cover
0.237%
Break-even
never at this rate
Slippage from dYdX: live order book, 4 min ago; Phoenix: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy dYdX live order book, 4 min ago2.02 bp7.0 bp −$723.4 bp −$23446.0 bp −$4,60487.8 bp −$43.9K
Sell Phoenix live order book, 3 min ago0.18 bp3.8 bp −$47.1 bp −$7116.6 bp −$1,655doesn't fit

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%43m2,724.6−0.018%$283K$5.7M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,725.2+0.004%$5K$1K50xas long as short
HTX ETH-USDT−0.0011%8h2,723.8−0.047%$1.05B$1.21B200xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,725.2+0.003%$11.9M—200xas long as short
Phoenix ETHshort−0.0009%1h2,721.6−0.128%$814K$3.0M25x
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,725.5+0.013%$28.0M—200xas long as short
Injective ETH/USDC PERP+0.0009%1h2,721.2−0.143%$117K$22.5M52xas long as short
dYdX ETH-USDlong+0.0012%1h2,725.1long leg$10.8M$41.9M50x
01 Exchange ETHUSD+0.0032%1h2,724.5−0.021%$186K$786K50xas long as short
BingX ETH-USDT+0.0033%8h2,725.1+0.001%—$1.14B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit ETHUSDT+0.0042%8h2,725−0.003%$2.35B$4.42B150xas long as short
Aftermath Perps ETHUSD+0.0068%1h2,723.7−0.051%$30K$20K20xas long as short
SunX ETH-USDT+0.0069%8h2,723.6−0.056%$955K$11.2M100xas long as short
Bullet ETH-USD+0.0071%1h2,724.9−0.006%$179K$1.7M20xas long as short
KuCoin ETHUSDTM+0.0075%8h2,725.4+0.010%$375.3M$578.4M100xas long as short
Aevo ETH-PERP+0.0080%1h2,721.2−0.144%$4.9M$155K20xas long as short
Deribit ETH-PERPETUAL+0.0084%1h2,724.8−0.009%$258.8M$205.1M50xas long as short
Aster ETHUSDT+0.0084%8h2,725.3+0.006%$252.2M$845.0M200xas long as short
Phemex ETHUSDT+0.0088%8h2,724.2−0.031%$263.3M$64.3M150xas long as short
MEXC ETH_USDT+0.0089%8h2,725.4+0.013%$1.56B$2.57B500xas long as short
OKX ETH-USDT-SWAP+0.0090%8h2,725.1+0.001%$1.66B$10.81B100xas long as short
Binance ETHUSDT+0.0091%8h2,725.2+0.005%$6.31B$16.09B150xas long as short
Lighter ETH+0.0096%1h2,725.1−0.001%$111.5M$432.4M50xas long as short
Lighter RH ETH+0.0096%1h2,726.2+0.042%$23.4M$103.1M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,724.3−0.029%$498K$3.4M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,727.1+0.076%$15.2M$8.0M50xas long as short
Nado ETH-PERP+0.0100%1h2,724.8−0.012%$13.8M$105.0M50xas long as short
Hyperliquid ETH+0.0100%1h2,727.3+0.081%$3.09B$2.04B25xas long as short
Pacifica ETH+0.0100%1h2,725.5+0.015%$31.9M$334.4M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,723.2−0.069%$2.7M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,725.2+0.003%$1.5M$16.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,723.8−0.046%$163.8M$329.7M25xas long as short
Gate ETH_USDT+0.0100%8h2,724.7−0.013%$3.30B$8.93B200xas long as short
Bitget ETHUSDT+0.0100%8h2,725.1+0.001%$2.08B$2.76B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,723.7−0.050%$14.9M$43.1M50xas long as short
Variational Omni ETH+0.0100%8h2,723.2−0.068%$133.0M$326.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,721.7−0.124%$184.3M$675.8M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,723.6−0.054%$158.5M$87.0M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,723.1−0.073%$8.6M$31.3M100xas long as short
StandX ETH-USD+0.0100%1h2,723.2−0.069%$20.9M$71.9M40xas long as short
Vest ETH-PERP+0.0100%1h2,726+0.034%—$876K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,726.4+0.048%$11.2M$9.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,724.1−0.035%$22K$21K25xas long as short
Derive ETH-PERP+0.0100%1h2,724.8−0.011%$40.8M$30.1M15xas long as short
SoDEX ETH-USD+0.0100%1h2,723.6−0.054%$54.2M$187.9M40xas long as short
Extended ETH-USD+0.0104%1h2,724−0.039%$30.5M$74.3M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,725.2+0.003%—$31.3M500xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,725.4+0.012%$49.8M$4.28B50xas long as short
RISEx ETH/USDC+0.0108%1h2,725.3+0.008%$5.6M$11.7M25xas long as short
Kalshi KXETHPERP+0.0159%8h2,724.2−0.032%$6.4M$692.1M4.9xas long as short
BloFin ETH-USDT+0.0168%8h2,723.3−0.064%$282.8M$174.7M150xas long as short
Kraken Futures PF_ETHUSD+0.0176%1h2,724.7−0.013%$82.9M$316.5M100xas long as short
Orderly PERP_ETH_USDC+0.0188%8h2,725.9+0.028%$32.1M$11.6M100xas long as short
Reya ETHRUSDPERP+0.0202%1h2,724.5−0.020%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,724.2−0.034%$249K$1.4M20xas long as short