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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 20:00 UTC+0.0009%/8hpaid last 24h +0.029%
Price spread now: Orderly against Extended+0.187%7-day average +0.115% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on ExtendedShort on Orderly
What this pair did over the last
the charts below follow
Funding, last 7 days+0.183%+$18 on $10k
Price spread, last 3 days (all we have)−0.094%−$9 · spread now +0.187%, 7d avg +0.115%
Together, before fees+0.089%+ Points / potential airdropExtended: Active · farm board+$9 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.072% dearer against Extended than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.115%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongExtended ETH-USD2,760.30.0104pay 0.0013% / 1h6m 30s$31.5M$75.6M50x
ShortOrderly PERP_ETH_USDC2,765.40.0113get 0.0113% / 8h4h 06m$32.5M$11.1M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Orderly against Extended. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$1.81
Price spread: +0.187% → +0.115%
$7.24
Slippage, 4 orders
no order book: not counted
Fee Extended: 2.5 bp × 2 orders
−$5
Fee Orderly: 3 bp × 2 orders
−$6
Net
−$1.94
Costs to cover
0.110%
Break-even
14.5 days
Slippage unknown: Extended: live order book, 2 min ago; Orderly: 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, 2 min ago0.18 bp2.7 bp −$32.7 bp −$275.7 bp −$57213.7 bp −$6,829
Sell Orderly no order-book sample—————
Orderly: 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
Injective ETH/USDC PERP−0.0208%1h2,761.8+0.055%$119K$22.5M52xas long as short
Perpl ETH−0.0112%43m2,759.9−0.015%$269K$6.6M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,762+0.062%$5K$2K50xas long as short
SoDEX ETH-USD−0.0019%1h2,762.1+0.066%$55.7M$184.4M40xas long as short
Phoenix ETH−0.0003%1h2,762.9+0.095%$928K$3.1M25xas long as short
dYdX ETH-USD0.0000%1h2,763.2+0.104%$13.5M$42.2M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,763.6+0.119%$22.4M—200xas long as short
Bulk ETH-USD+0.0012%1h2,762.6+0.083%$165.0M$265.6M25xas long as short
OKX ETH-USDT-SWAP+0.0016%8h2,759.3−0.035%$1.73B$11.31B100xas long as short
ApeX Omni ETHUSDT+0.0018%1h2,761.7+0.051%$8.4M$28.8M100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Deribit ETH-PERPETUAL+0.0018%1h2,764.2+0.140%$258.4M$209.2M50xas long as short
GMX ETH/USD [ETH-USDC]L +0.0020% / S +0.0013%1h2,763.6+0.120%$12.3M—200xas long as short
Bullet ETH-USD+0.0022%1h2,759.2−0.040%$194K$1.8M20xas long as short
01 Exchange ETHUSD+0.0024%1h2,761.9+0.059%$178K$1.2M50xas long as short
Phemex ETHUSDT+0.0029%8h2,762.6+0.085%$267.1M$64.5M150xas long as short
MEXC ETH_USDT+0.0038%8h2,759.1−0.043%$1.62B$2.48B500xas long as short
Binance ETHUSDT+0.0039%8h2,760.7+0.016%$6.57B$16.31B150xas long as short
Aevo ETH-PERP+0.0040%1h2,760.9+0.023%$5.0M$651K20xas long as short
RISEx ETH/USDC+0.0044%1h2,761.7+0.050%$5.8M$12.2M25xas long as short
Gate ETH_USDT+0.0051%8h2,760.6+0.013%$3.35B$9.26B200xas long as short
Aster ETHUSDT+0.0057%8h2,760.8+0.018%$268.2M$947.4M200xas long as short
Aftermath Perps ETHUSD+0.0071%1h2,763.3+0.109%$29K$20K20xas long as short
Bitget ETHUSDT+0.0073%8h2,759.5−0.030%$2.09B$3.00B150xas long as short
Variational Omni ETH+0.0092%8h2,760.4+0.003%$139.7M$304.4M—as long as short
Lighter ETH+0.0096%1h2,761.3+0.037%$115.1M$498.6M50xas long as short
Lighter RH ETH+0.0096%1h2,762.9+0.096%$25.5M$122.4M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,763.1+0.101%—$44.1M500xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,765.4+0.186%$15.8M$10.9M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,762.7+0.088%$481K$2.6M50xas long as short
Nado ETH-PERP+0.0100%1h2,761+0.027%$17.3M$112.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,762.1+0.066%$3.23B$2.21B25xas long as short
Pacifica ETH+0.0100%1h2,761.5+0.044%$31.2M$265.1M50xas long as short
Bybit ETHUSDT+0.0100%8h2,760.5+0.009%$2.53B$4.42B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,760.8+0.019%$2.9M$15.4M25xas long as short
Arcus ETH-USD+0.0100%1h2,762.4+0.078%$2.9M$16.9M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,761+0.026%$413.3M$711.2M100xas long as short
BingX ETH-USDC+0.0100%8h2,761.4+0.039%—$16.9M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,762.7+0.087%$15.3M$41.9M50xas long as short
edgeX ETHUSDC+0.0100%4h2,761.2+0.034%$179.7M$749.4M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,761.6+0.047%$160.6M$95.7M50xas long as short
StandX ETH-USD+0.0100%1h2,762.1+0.066%$21.3M$56.8M40xas long as short
Vest ETH-PERP+0.0100%1h2,761+0.027%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,762+0.062%$11.3M$7.1M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,763.8+0.128%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,765.7+0.196%$42.9M$29.2M15xas long as short
SunX ETH-USDT+0.0100%8h2,761.2+0.035%$968K$14.2M100xas long as short
HTX ETH-USDT+0.0100%8h2,761.8+0.054%$1.08B$1.24B200xas long as short
Extended ETH-USDlong+0.0104%1h2,760.3long leg$31.5M$75.6M50x
Orderly PERP_ETH_USDCshort+0.0113%8h2,765.4+0.187%$32.5M$11.1M100x
Kalshi KXETHPERP+0.0128%8h2,763.2+0.106%$8.6M$642.9M4.9xas long as short
Coinbase International ETH-PERP-INTX+0.0128%1h2,764.1+0.137%$59.6M$4.57B50xas long as short
Hibachi ETH/USDT-P+0.0152%1h2,763.6+0.120%$278K$1.5M20xas long as short
BloFin ETH-USDT+0.0154%8h2,762.2+0.069%$292.7M$186.8M150xas long as short
Kraken Futures PF_ETHUSD+0.0163%1h2,763.7+0.125%$85.4M$322.1M100xas long as short
Reya ETHRUSDPERP+0.0226%1h2,758.9−0.049%$7.5M$936K25xas long as short