ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0007%/8h= −0.7% APRpaid last 24h +0.024%

Price spread now: Kalshi against gTrade (Gains Network)−0.047%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$220.216% of the position

Long on gTrade (Gains Network)Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.051%+$5 on $10k

Price spread, last 7 days+0.049%+$5 · spread now −0.047%, 7d avg −0.014%

Together, before fees+0.100%+$10 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: Kalshi is 0.033% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) ETH/USD	2,739.7	L +0.0007% / S −0.0006%	pay 0.0001% / 1h	17m 23s	$33.1M	—	200x
Short	Kalshi KXETHPERP	2,738.4	0	get 0.0000% / 8h	3h 17m	$6.6M	$664.1M	4.9x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee KalshibpOrdersPrice spread, now −0.047%Rate

Funding earned: −$1.38
Price spread: −0.047% → −0.014%: −$3.29
Slippage, 4 orders: −$4.59
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$26.26
Costs to cover: 0.216%
Break-even: never at this rate

Slippage from gTrade (Gains Network): virtual book (oracle venue), 2 min ago; Kalshi: live order book, 2 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 gTrade (Gains Network) virtual book (oracle venue), 2 min ago	0.53 bp	4.0 bp −$4	4.1 bp −$41	5.0 bp −$500	8.9 bp −$4,450
Sell Kalshi live order book, 2 min ago	0.55 bp	6.6 bp −$7	6.9 bp −$69	10.2 bp −$1,022	19.1 bp −$9,563

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	−0.0159%	8h	2,736	−0.135%	$282.1M	$175.1M	150x	as long as short
Perpl ETH	−0.0112%	43m	2,739.8	+0.003%	$276K	$5.3M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,739.2	−0.018%	$5K	$1K	50x	as long as short
Phemex ETHUSDT	−0.0062%	8h	2,740.5	+0.029%	$263.8M	$62.4M	150x	as long as short
Bybit ETHUSDT	−0.0045%	8h	2,740.2	+0.019%	$2.32B	$4.17B	150x	as long as short
HTX ETH-USDT	−0.0014%	8h	2,740.8	+0.041%	$1.05B	$1.17B	200x	as long as short
Phoenix ETH	−0.0012%	1h	2,736.4	−0.120%	$810K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,739.3	−0.013%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,739.3	−0.014%	$10.6M	$41.8M	50x	as long as short
Kalshi KXETHPERPshort	0.0000%	8h	2,738.4	−0.047%	$6.6M	$664.1M	4.9x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi ETH/USDT-P	0.0000%	1h	2,739.5	−0.007%	$241K	$1.4M	20x	as long as short
gTrade (Gains Network) ETH/USDlong	L +0.0007% / S −0.0006%	1h	2,739.7	long leg	$33.1M	—	200x
01 Exchange ETHUSD	+0.0024%	1h	2,740.1	+0.015%	$195K	$879K	50x	as long as short
SunX ETH-USDT	+0.0033%	8h	2,738	−0.061%	$947K	$10.2M	100x	as long as short
ApeX Omni ETHUSDT	+0.0047%	1h	2,736	−0.135%	$8.3M	$30.8M	100x	as long as short
SoDEX ETH-USD	+0.0057%	1h	2,740.4	+0.026%	$54.6M	$180.0M	40x	as long as short
Gate ETH_USDT	+0.0063%	8h	2,740	+0.011%	$3.28B	$8.36B	200x	as long as short
Deribit ETH-PERPETUAL	+0.0067%	1h	2,741.8	+0.078%	$266.2M	$216.2M	50x	as long as short
Aster ETHUSDT	+0.0069%	8h	2,740	+0.011%	$253.6M	$800.7M	200x	as long as short
OKX ETH-USDT-SWAP	+0.0074%	8h	2,740.3	+0.023%	$1.66B	$10.23B	100x	as long as short
MEXC ETH_USDT	+0.0079%	8h	2,738.9	−0.028%	$1.58B	$2.59B	500x	as long as short
Binance ETHUSDT	+0.0080%	8h	2,740	+0.012%	$6.33B	$15.45B	150x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,738.3	−0.052%	$4.9M	$190K	20x	as long as short
KuCoin ETHUSDTM	+0.0086%	8h	2,739.3	−0.012%	$383.4M	$496.9M	100x	as long as short
Bullet ETH-USD	+0.0088%	1h	2,740	+0.012%	$177K	$1.7M	20x	as long as short
Lighter ETH	+0.0096%	1h	2,740.1	+0.014%	$113.1M	$405.5M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,741.3	+0.059%	$23.8M	$96.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,740.4	+0.028%	—	$23.9M	500x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,739.5	−0.007%	$521K	$3.6M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,744.6	+0.180%	$15.4M	$6.8M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,739.3	−0.012%	$14.5M	$99.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,741.2	+0.054%	$3.12B	$1.96B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,740.8	+0.040%	$32.1M	$328.1M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,739.6	−0.003%	$2.7M	$16.3M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,740.4	+0.026%	$1.6M	$15.5M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,739.2	−0.019%	$2.11B	$2.57B	150x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,739.9	+0.009%	—	$1.01B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,740.6	+0.034%	$15.2M	$38.1M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,736.7	−0.110%	$132.3M	$311.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,736.4	−0.118%	$186.3M	$685.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,736.4	−0.118%	$159.1M	$80.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,738.3	−0.050%	$21.0M	$71.2M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,741	+0.050%	—	$417K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,740	+0.012%	$11.2M	$9.2M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,724.3	−0.561%	$40.5M	$29.1M	15x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,738.5	−0.042%	$165.3M	$346.3M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,739.1	−0.023%	$30.4M	$69.1M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0105%	1h	2,741.7	+0.073%	$82.2M	$294.7M	100x	as long as short
Aftermath Perps ETHUSD	+0.0115%	1h	2,735.1	−0.166%	$30K	$19K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,742	+0.084%	$45.5M	$4.15B	50x	as long as short
RISEx ETH/USDC	+0.0137%	1h	2,740.8	+0.040%	$5.6M	$11.3M	25x	as long as short
Reya ETHRUSDPERP	+0.0169%	1h	2,738.3	−0.051%	$7.3M	$961K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0181%	8h	2,742.5	+0.103%	$32.3M	$10.7M	100x	as long as short
Injective ETH/USDC PERP	+0.0253%	1h	2,740.9	+0.045%	$213K	$22.5M	52x	as long as short
Bluefin ETH-PERP	+0.0925%	1h	2,740.8	+0.041%	$20K	$15K	25x	as long as short