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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 01:00 UTC+0.0035%/8h= +3.8% APRpaid last 24h +0.013%
Price spread now: Phemex against gTrade (Gains Network)−0.025%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−$22as in the Price arb table
costs, in and out, $10k−$200.204% of the position
Long on gTrade (Gains Network)Short on Phemex
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.055%+$6 on $10k
Price spread, last 3 days (all we have)−0.050%−$5 · spread now −0.025%, 7d avg −0.014%
Together, before fees+0.006%+$1 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.014%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LonggTrade (Gains Network) ETH/USD2,767.3L +0.0006% / S −0.0006%pay 0.0001% / 1h4m 51s$22.4M—200x
ShortPhemex ETHUSDT2,766.60.0041get 0.0041% / 8h7h 04m$269.2M$65.8M150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex 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

Funding earned
$7.34
Price spread: −0.025% → −0.014%
−$1.11
Slippage, 4 orders
−$1.42
Fee gTrade (Gains Network): 3.5 bp × 2 orders
−$7
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$14.19
Costs to cover
0.204%
Break-even
20.5 days
Slippage from gTrade (Gains Network): virtual book (oracle venue), 4 min ago; Phemex: live order book, 4 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 gTrade (Gains Network) virtual book (oracle venue), 4 min ago0.54 bp4.1 bp −$44.1 bp −$415.0 bp −$5008.9 bp −$4,451
Sell Phemex live order book, 4 min ago0.02 bp6.0 bp −$67.8 bp −$7811.6 bp −$1,15715.4 bp −$7,685

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−0.0752%1h2,773.8+0.236%$119K$22.5M52xas long as short
RISEx ETH/USDC−0.0128%1h2,767.3+0.001%$5.6M$11.2M25xas long as short
Perpl ETH−0.0112%43m2,767.1−0.008%$326K$6.2M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,767.6+0.012%$5K$1K50xas long as short
01 Exchange ETHUSD−0.0032%1h2,767.2−0.003%$169K$1.1M50xas long as short
Phoenix ETH−0.0003%1h2,770.8+0.127%$872K$3.7M25xas long as short
dYdX ETH-USD+0.0001%1h2,767.1−0.008%$12.2M$43.0M50xas long as short
gTrade (Gains Network) ETH/USDlongL +0.0006% / S −0.0006%1h2,767.3long leg$22.4M—200x
Bullet ETH-USD+0.0016%1h2,766.6−0.025%$185K$1.7M20xas long as short
OKX ETH-USDT-SWAP+0.0033%8h2,768.6+0.046%$1.70B$10.96B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phemex ETHUSDTshort+0.0041%8h2,766.6−0.025%$269.2M$65.8M150x
GMX ETH/USD [ETH-USDC]L +0.0043% / S −0.0009%1h2,767.1−0.005%$12.7M—200xas long as short
SoDEX ETH-USD+0.0047%1h2,766.6−0.025%$55.1M$187.7M40xas long as short
Aster ETHUSDT+0.0049%8h2,768.3+0.038%$260.7M$849.5M200xas long as short
Aevo ETH-PERP+0.0056%1h2,764.5−0.100%$5.0M$156K20xas long as short
Binance ETHUSDT+0.0057%8h2,767.5+0.008%$6.47B$16.02B150xas long as short
MEXC ETH_USDT+0.0059%8h2,768.7+0.052%$1.62B$2.66B500xas long as short
Aftermath Perps ETHUSD+0.0069%1h2,770.3+0.110%$31K$21K20xas long as short
HTX ETH-USDT+0.0072%8h2,766.9−0.014%$1.07B$1.22B200xas long as short
Coinbase International ETH-PERP-INTX+0.0080%1h2,767.4+0.003%$60.3M$4.39B50xas long as short
Bitget ETHUSDT+0.0081%8h2,768.9+0.059%$2.10B$2.82B150xas long as short
Gate ETH_USDT+0.0082%8h2,768.6+0.048%$3.40B$9.12B200xas long as short
Vest ETH-PERP+0.0087%1h2,767.5+0.008%—$870K50xas long as short
KuCoin ETHUSDTM+0.0089%8h2,767.9+0.021%$419.9M$589.1M100xas long as short
Lighter ETH+0.0096%1h2,768.2+0.035%$115.0M$460.3M50xas long as short
Lighter RH ETH+0.0096%1h2,770.9+0.132%$25.5M$112.2M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,771.7+0.161%$15.9M$8.2M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,767−0.010%$486K$2.8M50xas long as short
Nado ETH-PERP+0.0100%1h2,766.8−0.017%$14.5M$112.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,771.2+0.142%$3.16B$2.10B25xas long as short
Pacifica ETH+0.0100%1h2,767.5+0.006%$31.3M$328.9M50xas long as short
Bybit ETHUSDT+0.0100%8h2,768.6+0.047%$2.50B$4.27B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,766.5−0.028%$2.8M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,767.8+0.017%$2.8M$16.7M25xas long as short
Bulk ETH-USD+0.0100%1h2,771.7+0.160%$172.0M$293.3M25xas long as short
BingX ETH-USDC+0.0100%8h2,767.9+0.021%—$17.3M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,766.5−0.029%$15.0M$42.3M50xas long as short
Variational Omni ETH+0.0100%8h2,766.4−0.032%$134.4M$347.2M—as long as short
edgeX ETHUSDC+0.0100%4h2,770.3+0.110%$183.8M$751.0M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,772.6+0.192%$161.2M$83.8M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,773.5+0.226%$8.9M$31.4M100xas long as short
StandX ETH-USD+0.0100%1h2,771.4+0.149%$21.4M$64.4M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,766.6−0.025%$10.5M$7.9M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,767.1−0.005%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,768.5+0.045%$42.5M$28.9M15xas long as short
SunX ETH-USDT+0.0100%8h2,766.3−0.034%$969K$12.7M100xas long as short
Extended ETH-USD+0.0104%1h2,766−0.045%$30.9M$74.4M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,767.4+0.005%—$35.8M500xas long as short
Kalshi KXETHPERP+0.0119%8h2,767.8+0.019%$8.1M$673.4M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0134%1h2,768.1+0.030%$97.8M$314.5M100xas long as short
Deribit ETH-PERPETUAL+0.0148%1h2,768.2+0.034%$259.1M$201.4M50xas long as short
Orderly PERP_ETH_USDC+0.0157%8h2,769.1+0.066%$32.6M$11.0M100xas long as short
Hibachi ETH/USDT-P+0.0160%1h2,768.1+0.031%$253K$1.5M20xas long as short
BloFin ETH-USDT+0.0179%8h2,766.9−0.014%$287.3M$174.7M150xas long as short
Reya ETHRUSDPERP+0.0215%1h2,766.6−0.024%$7.3M$1.1M25xas long as short