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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h +0.008%
Price spread now: Derive against Extended+0.110%7-day average +0.091% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on ExtendedShort on Derive
What this pair did over the last
the charts below follow
Funding, last 7 days+0.059%+$6 on $10k
Price spread, last 3 days (all we have)−0.044%−$4 · spread now +0.110%, 7d avg +0.091%
Together, before fees+0.015%+ Points / potential airdropExtended: Active · farm board+$1 on $10k · with fees, hour by hour
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongExtended ETH-USD2,781.50.0104pay 0.0013% / 1h49m 33s$32.7M$77.7M50x
ShortDerive ETH-PERP2,784.60.0100get 0.0013% / 1h49m 33s$42.8M$29.4M15x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Derive against Extended. 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
−$0.84
Price spread: +0.110% → +0.091%
$1.91
Slippage, 4 orders
no order book: not counted
Fee Extended: 2.5 bp × 2 orders
−$5
Fee Derive: 3 bp × 2 orders
−$6
Net
−$9.93
Costs to cover
0.110%
Break-even
never at this rate
Slippage unknown: Extended: live order book, 5 min ago; Derive: 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
LegHalf-spread$10k$100k$1M$5M
Buy Extended live order book, 5 min ago0.18 bp3.2 bp −$33.8 bp −$386.3 bp −$63015.4 bp −$7,692
Sell Derive no order-book sample—————
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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl ETH−0.0447%43m2,784.2+0.095%$288K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0206%1h2,781.7+0.007%$5.7M$11.9M25xas long as short
Injective ETH/USDC PERP−0.0088%1h2,782.5+0.035%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,782.2+0.024%$5K$2K50xas long as short
ApeX Omni ETHUSDT−0.0066%1h2,786.6+0.181%$8.8M$32.8M100xas long as short
01 Exchange ETHUSD−0.0016%1h2,782.4+0.031%$169K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0009%1h2,782.8+0.046%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,783.1+0.055%$12.8M$45.9M50xas long as short
Phoenix ETH+0.0003%1h2,785+0.125%$888K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,783.5+0.069%$22.5M—200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0016%8h2,781.9+0.014%—$17.4M—as long as short
OKX ETH-USDT-SWAP+0.0020%8h2,782+0.017%$1.70B$11.91B100xas long as short
Phemex ETHUSDT+0.0026%8h2,782.4+0.032%$271.2M$68.9M150xas long as short
GMX ETH/USD [ETH-USDC]L +0.0026% / S +0.0009%1h2,783.2+0.061%$12.9M—200xas long as short
Aster ETHUSDT+0.0039%8h2,782.8+0.045%$256.8M$1.00B200xas long as short
Aevo ETH-PERP+0.0064%1h2,782.8+0.044%$5.1M$636K20xas long as short
MEXC ETH_USDT+0.0066%8h2,782.8+0.044%$1.60B$2.63B500xas long as short
Bitget ETHUSDT+0.0066%8h2,781.9+0.012%$2.10B$3.11B150xas long as short
Binance ETHUSDT+0.0066%8h2,782+0.017%$6.45B$17.26B150xas long as short
Gate ETH_USDT+0.0072%8h2,781.9+0.014%$3.31B$9.59B200xas long as short
Bullet ETH-USD+0.0074%1h2,782.7+0.041%$184K$1.7M20xas long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,783.6+0.072%$60.3M$4.62B50xas long as short
KuCoin ETHUSDTM+0.0089%8h2,782.7+0.043%$423.1M$739.7M100xas long as short
Bybit ETHUSDT+0.0090%8h2,782.4+0.030%$2.52B$4.63B150xas long as short
HTX ETH-USDT+0.0090%8h2,782+0.017%$1.08B$1.32B200xas long as short
Lighter ETH+0.0096%1h2,783+0.052%$116.3M$495.5M50xas long as short
Lighter RH ETH+0.0096%1h2,784.8+0.116%$25.4M$120.7M50xas long as short
Vest ETH-PERP+0.0097%1h2,784.2+0.096%—$1.1M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,781.9+0.014%$16.0M$10.3M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,782.1+0.020%$479K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,784.1+0.092%$14.4M$118.2M50xas long as short
Hyperliquid ETH+0.0100%1h2,785.3+0.135%$3.20B$2.35B25xas long as short
Pacifica ETH+0.0100%1h2,783.3+0.063%$31.3M$309.3M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,781.3−0.008%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,783+0.054%$2.7M$17.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,784.2+0.096%$168.3M$253.1M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,782+0.018%$15.1M$44.0M50xas long as short
Variational Omni ETH+0.0100%8h2,782.7+0.041%$147.8M$336.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,783.9+0.086%$182.2M$781.7M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,783.7+0.079%$161.9M$89.9M50xas long as short
StandX ETH-USD+0.0100%1h2,783.6+0.074%$21.5M$58.3M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,784.7+0.114%$10.8M$7.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,783.4+0.068%$21K$24K25xas long as short
Derive ETH-PERPshort+0.0100%1h2,784.6+0.110%$42.8M$29.4M15x
SunX ETH-USDT+0.0100%8h2,782.8+0.047%$976K$13.9M100xas long as short
SoDEX ETH-USD+0.0100%1h2,782.2+0.024%$55.4M$229.0M40xas long as short
Deribit ETH-PERPETUAL+0.0102%1h2,783.9+0.085%$258.9M$222.8M50xas long as short
Extended ETH-USDlong+0.0104%1h2,781.5long leg$32.7M$77.7M50x
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,783.6+0.073%—$41.8M500xas long as short
Kraken Futures PF_ETHUSD+0.0122%1h2,783.1+0.057%$86.7M$332.6M100xas long as short
Kalshi KXETHPERP+0.0124%8h2,784.4+0.103%$8.4M$682.3M4.9xas long as short
Orderly PERP_ETH_USDC+0.0136%8h2,785.3+0.135%$32.7M$12.1M100xas long as short
BloFin ETH-USDT+0.0186%8h2,783.3+0.063%$285.1M$195.1M150xas long as short
Reya ETHRUSDPERP+0.0198%1h2,783.2+0.060%$7.4M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0280%1h2,785+0.124%$271K$1.5M20xas long as short