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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 09:00 UTC+0.0115%/8h= +12.6% APRnext payment +$0.14 per $10,000 · paid last 24h +0.049%
Price spread now: Kraken Futures against GMX−0.007%7-day average −0.018% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on GMXShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.011%+$1 on $10k
Price spread, last 4 days (all we have)−0.297%−$30 · spread now −0.007%, 7d avg −0.018%
Together, before fees−0.286%−$29 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.018%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGMX ETH/USD [ETH-USDC]2,732.4L −0.0010% / S +0.0043%get 0.0001% / 1h41m 46s$11.9M—200x
ShortKraken Futures PF_ETHUSD2,732.20.0105get 0.0013% / 1h41m 46s$82.0M$309.8M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures against GMX. 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
$24.08
Price spread: −0.007% → −0.018%
$1.06
Slippage, 4 orders
no order book: not counted
Fee GMX: 6 bp × 2 orders
−$12
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$3.13
Costs to cover
0.220%
Break-even
6.1 days
Slippage unknown: GMX: no order-book sample; Kraken Futures: live order book, 2 min ago. 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 GMX no order-book sample—————
Sell Kraken Futures live order book, 2 min ago0.18 bp5.5 bp −$56.8 bp −$688.4 bp −$84511.7 bp −$5,842
GMX: 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
BloFin ETH-USDT−0.0140%8h2,730.4−0.071%$280.2M$177.7M150xas long as short
Perpl ETH−0.0112%43m2,731.3−0.040%$277K$5.7M8.3xas long as short
Phemex ETHUSDT−0.0091%8h2,732−0.015%$263.3M$63.7M150xas long as short
Hotstuff ETH-PERP−0.0080%1h2,731.3−0.039%$5K$1K50xas long as short
HTX ETH-USDT−0.0060%8h2,731.5−0.034%$1.05B$1.21B200xas long as short
Bybit ETHUSDT−0.0013%8h2,729.6−0.102%$2.32B$4.31B150xas long as short
Phoenix ETH−0.0012%1h2,733+0.023%$807K$3.0M25xas long as short
GMX ETH/USD [ETH-USDC]longL −0.0010% / S +0.0043%1h2,732.4long leg$11.9M—200x
dYdX ETH-USD0.0000%1h2,732.6+0.009%$10.6M$41.9M50xas long as short
Kalshi KXETHPERP0.0000%8h2,731.9−0.017%$6.7M$672.0M4.9xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Deribit ETH-PERPETUAL0.0000%1h2,732.3−0.004%$264.6M$218.7M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,732.40.000%$33.0M—200xas long as short
01 Exchange ETHUSD+0.0048%1h2,732.8+0.015%$191K$883K50xas long as short
SunX ETH-USDT+0.0051%8h2,731−0.051%$940K$10.7M100xas long as short
SoDEX ETH-USD+0.0061%1h2,731.5−0.032%$54.4M$182.5M40xas long as short
Hibachi ETH/USDT-P+0.0072%1h2,731.4−0.035%$239K$1.4M20xas long as short
ApeX Omni ETHUSDT+0.0078%1h2,730.8−0.056%$8.4M$31.2M100xas long as short
OKX ETH-USDT-SWAP+0.0078%8h2,729.7−0.099%$1.65B$10.73B100xas long as short
Aster ETHUSDT+0.0082%8h2,730.3−0.075%$252.1M$849.6M200xas long as short
Gate ETH_USDT+0.0083%8h2,730.1−0.085%$3.28B$8.24B200xas long as short
KuCoin ETHUSDTM+0.0085%8h2,730.6−0.064%$383.2M$576.0M100xas long as short
Binance ETHUSDT+0.0092%8h2,730.4−0.074%$6.32B$16.06B150xas long as short
MEXC ETH_USDT+0.0093%8h2,730.4−0.072%$1.57B$2.55B500xas long as short
Lighter ETH+0.0096%1h2,731.6−0.030%$112.6M$401.1M50xas long as short
Lighter RH ETH+0.0096%1h2,732.7+0.011%$23.7M$95.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,731.9−0.017%—$30.4M500xas long as short
Aevo ETH-PERP+0.0096%1h2,729.4−0.110%$4.9M$195K20xas long as short
Katana Perps ETH-USD+0.0100%8h2,732−0.014%$500K$3.6M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,734.8+0.088%$15.4M$7.2M50xas long as short
Nado ETH-PERP+0.0100%1h2,731.5−0.031%$14.2M$100.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,732.3−0.003%$3.11B$2.04B25xas long as short
Pacifica ETH+0.0100%1h2,732−0.014%$32.0M$332.0M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,731.1−0.047%$2.7M$16.5M25xas long as short
Arcus ETH-USD+0.0100%1h2,732.4−0.001%$1.6M$15.8M25xas long as short
Bitget ETHUSDT+0.0100%8h2,729.9−0.092%$2.11B$2.75B150xas long as short
BingX ETH-USDC+0.0100%8h2,729.5−0.105%—$18.7M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,731.1−0.047%$15.2M$39.9M50xas long as short
Variational Omni ETH+0.0100%8h2,731−0.049%$131.5M$316.0M—as long as short
edgeX ETHUSDC+0.0100%4h2,731.1−0.047%$185.8M$686.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,731.6−0.028%$158.8M$79.8M50xas long as short
StandX ETH-USD+0.0100%1h2,731.9−0.017%$21.0M$70.8M40xas long as short
Vest ETH-PERP+0.0100%1h2,733.6+0.045%—$441K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,733.2+0.030%$11.2M$9.4M50xas long as short
Bullet ETH-USD+0.0100%1h2,732.2−0.005%$178K$1.7M20xas long as short
Derive ETH-PERP+0.0100%1h2,731.8−0.021%$40.6M$29.0M15xas long as short
Bulk ETH-USD+0.0100%1h2,730.8−0.057%$162.8M$334.7M25xas long as short
Extended ETH-USD+0.0104%1h2,729.7−0.099%$30.5M$71.2M50xas long as short
Kraken Futures PF_ETHUSDshort+0.0105%1h2,732.2−0.007%$82.0M$309.8M100x
Aftermath Perps ETHUSD+0.0112%1h2,731.8−0.023%$30K$20K20xas long as short
Coinbase International ETH-PERP-INTX+0.0120%1h2,732.6+0.009%$46.4M$4.25B50xas long as short
RISEx ETH/USDC+0.0137%1h2,733+0.021%$5.7M$11.4M25xas long as short
Reya ETHRUSDPERP+0.0174%1h2,731.4−0.036%$7.3M$972K25xas long as short
Orderly PERP_ETH_USDC+0.0185%8h2,734+0.058%$32.2M$11.3M100xas long as short
Injective ETH/USDC PERP+0.0253%1h2,735.4+0.111%$293K$20.1M52xas long as short
Bluefin ETH-PERP+0.2429%1h2,759.6+0.996%$20K$23K25xas long as short