ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0348%/8h= +38.1% APRnext payment +$0.43 per $10,000 · paid last 24h +0.030%

Price spread now: Kraken Futures against gTrade (Gains Network)+0.020%7-day average −0.003% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$190.191% of the position

Long on gTrade (Gains Network)Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.083%+$8 on $10k

Price spread, last 3 days (all we have)−0.081%−$8 · spread now +0.020%, 7d avg −0.003%

Together, before fees+0.003%$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Kraken Futures is 0.022% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.003%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.083% in total (about 9.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.43 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	gTrade (Gains Network) ETH/USD	2,748.2	L +0.0006% / S −0.0006%	pay 0.0001% / 1h	17m 08s	$22.2M	—	200x
Short	Kraken Futures PF_ETHUSD	2,748.7	0.0354	get 0.0044% / 1h	17m 08s	$89.1M	$317.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.020%Rate

Funding earned: $73.04
Price spread: +0.020% → −0.003%: $2.23
Slippage, 4 orders: −$2.1
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $56.17
Costs to cover: 0.191%
Break-even: 1.6 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 2 min ago; Kraken Futures: 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 −$4,443
Sell Kraken Futures live order book, 2 min ago	0.18 bp	5.2 bp −$5	7.0 bp −$70	9.0 bp −$900	11.7 bp −$5,853

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	2,747.7	−0.017%	$310K	$5.9M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,747.7	−0.017%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,747.2	−0.035%	$5.7M	$11.4M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0009% / S +0.0043%	1h	2,748.1	−0.001%	$12.2M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,747.2	−0.035%	$848K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,747	−0.042%	$10.8M	$42.1M	50x	as long as short
gTrade (Gains Network) ETH/USDlong	L +0.0006% / S −0.0006%	1h	2,748.2	long leg	$22.2M	—	200x
01 Exchange ETHUSD	+0.0032%	1h	2,747.6	−0.021%	$181K	$1.1M	50x	as long as short
ApeX Omni ETHUSDT	+0.0036%	1h	2,747.8	−0.015%	$8.7M	$31.4M	100x	as long as short
BingX ETH-USDC	+0.0037%	8h	2,747	−0.042%	—	$18.5M	—	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0049%	8h	2,747.2	−0.035%	$1.69B	$10.95B	100x	as long as short
HTX ETH-USDT	+0.0058%	8h	2,747.5	−0.024%	$1.06B	$1.20B	200x	as long as short
Aster ETHUSDT	+0.0070%	8h	2,747.2	−0.034%	$253.0M	$858.7M	200x	as long as short
KuCoin ETHUSDTM	+0.0070%	8h	2,747.6	−0.020%	$372.2M	$610.2M	100x	as long as short
MEXC ETH_USDT	+0.0080%	8h	2,747.3	−0.033%	$1.56B	$2.57B	500x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,745.2	−0.108%	$4.9M	$168K	20x	as long as short
Binance ETHUSDT	+0.0081%	8h	2,747.4	−0.028%	$6.38B	$16.21B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,748.9	+0.025%	$58.9M	$4.34B	50x	as long as short
Bitget ETHUSDT	+0.0095%	8h	2,747.3	−0.033%	$2.08B	$2.84B	150x	as long as short
Aftermath Perps ETHUSD	+0.0095%	1h	2,749.5	+0.047%	$30K	$20K	20x	as long as short
Lighter ETH	+0.0096%	1h	2,748.3	+0.004%	$113.1M	$444.1M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,749.6	+0.051%	$24.9M	$107.4M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,747.2	−0.035%	—	$35.6M	500x	as long as short
Gate ETH_USDT	+0.0096%	8h	2,747.4	−0.027%	$3.39B	$8.92B	200x	as long as short
Bullet ETH-USD	+0.0099%	1h	2,747.8	−0.013%	$183K	$1.7M	20x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,751.9	+0.134%	$16.3M	$8.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,746.6	−0.057%	$478K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,747	−0.043%	$14.0M	$112.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,749.9	+0.063%	$3.13B	$2.10B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,748.1	−0.003%	$31.7M	$334.3M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,747.3	−0.031%	$2.46B	$4.33B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,747.1	−0.039%	$2.8M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,747.6	−0.021%	$2.8M	$16.5M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,747.1	−0.040%	$15.0M	$41.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,748.7	+0.020%	$133.2M	$345.9M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,746.3	−0.067%	$181.6M	$704.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,747.6	−0.020%	$159.8M	$82.9M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,748.3	+0.005%	$21.3M	$68.4M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,748.2	+0.001%	$10.7M	$8.6M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,748	−0.007%	$21K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,749.3	+0.042%	$41.7M	$29.5M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,746.1	−0.075%	$963K	$12.3M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,747.8	−0.013%	$54.7M	$187.8M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,747.9	−0.011%	$267.3M	$66.0M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,751.8	+0.132%	$165.7M	$300.7M	25x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,748.1	−0.001%	—	$869K	50x	as long as short
Extended ETH-USD	+0.0104%	1h	2,747.1	−0.038%	$30.5M	$73.5M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0143%	1h	2,749.2	+0.039%	$258.5M	$199.8M	50x	as long as short
Kalshi KXETHPERP	+0.0145%	8h	2,748.3	+0.005%	$7.7M	$674.4M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0173%	8h	2,750.2	+0.074%	$32.3M	$11.2M	100x	as long as short
Hibachi ETH/USDT-P	+0.0208%	1h	2,748.2	0.000%	$250K	$1.5M	20x	as long as short
Injective ETH/USDC PERP	+0.0209%	1h	2,746.3	−0.068%	$118K	$22.5M	52x	as long as short
Reya ETHRUSDPERP	+0.0221%	1h	2,746.8	−0.049%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSDshort	+0.0354%	1h	2,748.7	+0.020%	$89.1M	$317.0M	100x