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Funding arb · Price arb /

ETH

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Alert: spread
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Funding you earn now, next payment 11:00 UTC−0.0202%/8h= −22.1% APRpaid last 24h +0.047%
Price spread now: Hibachi against Gate+0.037%7-day average +0.032% · you sell dearer than you buy
Net, funding: paid 7d − costs−$44as in the Funding arb table
Net, price: spread back to 7d avg − costs−$26as in the Price arb table
costs, in and out, $10k−$270.269% of the position
Long on GateShort on Hibachi
What this pair did over the last
the charts below follow
Funding, last 7 days−0.168%−$17 on $10k
Price spread, last 7 days−0.001%$0 · spread now +0.037%, 7d avg +0.032%
Together, before fees−0.169%+ Points / potential airdropHibachi: Active · farm board−$17 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.032%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGate ETH_USDT2,7470.0082pay 0.0082% / 8h5h 52m$3.27B$7.69B200x
ShortHibachi ETH/USDT-P2,748.1−0.0120pay 0.0015% / 1h52m 07s$235K$1.2M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hibachi against Gate. 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
−$42.42
Price spread: +0.037% → +0.032%
$0.5
Slippage, 4 orders
−$2.87
Fee Gate: 7.5 bp × 2 orders
−$15
Fee Hibachi: 4.5 bp × 2 orders
−$9
Net
−$68.79
Costs to cover
0.269%
Break-even
never at this rate
Slippage from Gate: live order book, 5 min ago; Hibachi: live order book, 5 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 Gate live order book, 5 min ago0.02 bp7.5 bp −$88.0 bp −$8011.5 bp −$1,15120.0 bp −$9,976
Sell Hibachi live order book, 5 min ago0.02 bp5.4 bp −$59.6 bp −$96doesn't fitdoesn't fit

ETH on 54 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi ETH/USDT-Pshort−0.0120%1h2,748.1+0.037%$235K$1.2M20x
Hotstuff ETH-PERP−0.0080%1h2,749.4+0.086%$5K$1K50xas long as short
ApeX Omni ETHUSDT−0.0045%1h2,748.4+0.048%$8.3M$25.3M100xas long as short
GMX ETH/USD [ETH-USDC]L −0.0009% / S +0.0043%1h2,747.3+0.009%$12.2M—200xas long as short
Phoenix ETH−0.0009%1h2,750+0.108%$809K$2.8M25xas long as short
Kalshi KXETHPERP0.0000%8h2,746.8−0.009%$7.2M$661.2M4.9xas long as short
Perpl ETH0.0000%43m2,748+0.033%$269K$5.0M8.3xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,747.4+0.013%$33.2M—200xas long as short
Bybit ETHUSDT+0.0007%8h2,746.7−0.011%$2.37B$3.81B150xas long as short
OKX ETH-USDT-SWAP+0.0068%8h2,746.3−0.027%$1.67B$9.24B100xas long as short
Show all 54 exchanges
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
01 Exchange ETHUSD+0.0072%1h2,746.9−0.005%$182K$928K50xas long as short
Gate ETH_USDTlong+0.0082%8h2,747long leg$3.27B$7.69B200x
Aster ETHUSDT+0.0083%8h2,747.3+0.010%$257.9M$720.1M200xas long as short
KuCoin ETHUSDTM+0.0088%8h2,747.2+0.006%$365.2M$441.2M100xas long as short
Aevo ETH-PERP+0.0088%1h2,744.4−0.095%$4.9M$214K20xas long as short
Binance ETHUSDT+0.0089%8h2,747.10.000%$6.41B$14.03B150xas long as short
MEXC ETH_USDT+0.0089%8h2,747.4+0.013%$1.60B$2.34B500xas long as short
Lighter ETH+0.0096%1h2,747.9+0.031%$113.8M$384.2M50xas long as short
Lighter RH ETH+0.0096%1h2,749.1+0.073%$23.7M$94.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,747.2+0.005%—$23.6M500xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,748.4+0.049%$46.2M$3.90B50xas long as short
Katana Perps ETH-USD+0.0100%8h2,745.8−0.045%$506K$3.5M50xas long as short
Nado ETH-PERP+0.0100%1h2,745.8−0.045%$14.6M$95.9M50xas long as short
Pacifica ETH+0.0100%1h2,747.5+0.015%$32.4M$325.1M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,747.8+0.028%$2.8M$14.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,747.6+0.021%$1.5M$14.3M25xas long as short
Bulk ETH-USD+0.0100%1h2,749.3+0.081%$164.5M$330.2M25xas long as short
Bitget ETHUSDT+0.0100%8h2,747−0.002%$2.11B$2.30B150xas long as short
BingX ETH-USDT+0.0100%8h2,747.1+0.004%—$944.9M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,746.7−0.014%$14.9M$36.1M50xas long as short
Variational Omni ETH+0.0100%8h2,747.8+0.029%$132.6M$290.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,748.3+0.046%$185.2M$607.0M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,749.4+0.085%$159.9M$69.4M50xas long as short
StandX ETH-USD+0.0100%1h2,748.5+0.053%$21.1M$75.6M40xas long as short
Vest ETH-PERP+0.0100%1h2,747.9+0.033%—$348K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,747.7+0.024%$11.3M$8.6M50xas long as short
Bullet ETH-USD+0.0100%1h2,747−0.001%$177K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,746.6−0.016%$20K$14K25xas long as short
SunX ETH-USDT+0.0100%8h2,746.3−0.027%$946K$8.6M100xas long as short
SoDEX ETH-USD+0.0100%1h2,747.1+0.002%$61.8M$121.8M40xas long as short
HTX ETH-USDT+0.0100%8h2,746.8−0.009%$1.05B$1.05B200xas long as short
Phemex ETHUSDT+0.0100%8h2,747.3+0.011%$263.9M$56.4M150xas long as short
Extended ETH-USD+0.0104%1h2,745.9−0.043%$30.5M$65.1M50xas long as short
Kraken Futures PF_ETHUSD+0.0105%1h2,747.6+0.021%$82.5M$273.5M100xas long as short
Aftermath Perps ETHUSD+0.0107%1h2,748.3+0.045%$30K$8K20xas long as short
Deribit ETH-PERPETUAL+0.0140%1h2,748+0.035%$266.8M$184.9M50xas long as short
Reya ETHRUSDPERP+0.0156%1h2,745.3−0.065%$7.3M$832K25xas long as short
Orderly PERP_ETH_USDC+0.0174%8h2,749.2+0.078%$32.4M$9.9M100xas long as short
dYdX ETH-USD+0.0196%1h2,746.3−0.027%$15.2M$42.7M50xas long as short
RISEx ETH/USDC+0.0206%1h2,747.6+0.021%$5.7M$10.6M25xas long as short
Hyperliquid ETH+0.0252%1h2,750.5+0.126%$3.16B$1.73B25xas long as short
BloFin ETH-USDT+0.0360%8h2,747.7+0.025%$283.3M$149.7M150xas long as short
Injective ETH/USDC PERP+0.0461%1h2,751.5+0.162%$118K$21.7M52xas long as short
Paradex ETH-USD-PERP+0.0546%8h2,751+0.144%$16.0M$6.2M50xas long as short