ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0193%/8h= −21.1% APRnext payment −$0.24 per $10,000 · paid last 24h −0.062%

Price spread now: GMX against Hibachi+0.026%7-day average 0.000% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hibachi Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.022%+$2 on $10k

Price spread, last 3 days (all we have)+0.034%+$3 · spread now +0.026%, 7d avg 0.000%

Together, before fees+0.055%+ Points / potential airdropHibachi: Active · farm board+$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GMX is 0.026% dearer against Hibachi than usual: you sell high and buy low (spread +0.026% now, against its 7-day average of 0.000%): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 11 hours.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.022% in total (about 2.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.24 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	Hibachi ETH/USDT-P	2,772.1	0.0184	pay 0.0023% / 1h	52m 49s	$252K	$1.6M	20x
Short	GMX ETH/USD [ETH-USDC]	2,772.8	L +0.0025% / S +0.0009%	pay 0.0001% / 1h	52m 49s	$12.8M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Hibachi. 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

Position, each leg$Hold fordaysFee HibachibpFee GMXbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$40.56
Price spread: +0.026% → 0.000%: $2.62
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: −$58.94
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Hibachi: live order book, 1 min ago; GMX: no order-book sample. Net counts fees only.

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 Hibachi live order book, 1 min ago	0.56 bp	6.8 bp −$7	12.6 bp −$126	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective ETH/USDC PERP	−0.0752%	1h	2,774.3	+0.080%	$119K	$22.5M	52x	as long as short
ApeX Omni ETHUSDT	−0.0362%	1h	2,770.5	−0.056%	$8.7M	$32.9M	100x	as long as short
Perpl ETH	−0.0223%	43m	2,772.4	+0.009%	$284K	$6.8M	8.3x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,771.9	−0.007%	$5.7M	$11.9M	25x	as long as short
Gate ETH_USDT	−0.0105%	8h	2,770.8	−0.046%	$3.29B	$8.90B	200x	as long as short
Phemex ETHUSDT	−0.0098%	8h	2,772.1	+0.002%	$270.0M	$68.1M	150x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,771.7	−0.014%	$5K	$1K	50x	as long as short
01 Exchange ETHUSD	−0.0032%	1h	2,772.7	+0.022%	$168K	$1.2M	50x	as long as short
Bullet ETH-USD	−0.0013%	1h	2,772.2	+0.005%	$183K	$1.7M	20x	as long as short
Phoenix ETH	−0.0003%	1h	2,771.4	−0.025%	$876K	$3.7M	25x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX ETH-USD	0.0000%	1h	2,772.2	+0.006%	$12.7M	$45.8M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,772.8	+0.026%	$8.1M	$690.6M	4.9x	as long as short
SoDEX ETH-USD	+0.0004%	1h	2,771.5	−0.021%	$55.2M	$228.8M	40x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,772.9	+0.029%	$22.4M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0019%	8h	2,770.4	−0.059%	$1.71B	$11.77B	100x	as long as short
GMX ETH/USD [ETH-USDC]short	L +0.0025% / S +0.0009%	1h	2,772.8	+0.026%	$12.8M	—	200x
Bybit ETHUSDT	+0.0033%	8h	2,770.7	−0.051%	$2.51B	$4.58B	150x	as long as short
Aftermath Perps ETHUSD	+0.0038%	1h	2,772.4	+0.012%	$29K	$22K	20x	as long as short
Aster ETHUSDT	+0.0039%	8h	2,771.3	−0.027%	$256.4M	$1.00B	200x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,773.1	+0.036%	$5.0M	$165K	20x	as long as short
MEXC ETH_USDT	+0.0057%	8h	2,770.9	−0.045%	$1.62B	$2.62B	500x	as long as short
Binance ETHUSDT	+0.0057%	8h	2,770.7	−0.051%	$6.47B	$17.18B	150x	as long as short
Bitget ETHUSDT	+0.0066%	8h	2,770.5	−0.058%	$2.11B	$3.06B	150x	as long as short
KuCoin ETHUSDTM	+0.0079%	8h	2,770.8	−0.047%	$422.2M	$734.5M	100x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,773.2	+0.039%	$60.8M	$4.57B	50x	as long as short
Vest ETH-PERP	+0.0092%	1h	2,772.6	+0.018%	—	$1.1M	50x	as long as short
Lighter ETH	+0.0096%	1h	2,772.2	+0.004%	$115.2M	$456.1M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,772.9	+0.030%	$25.2M	$109.6M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,772	−0.002%	$15.9M	$9.8M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,771.7	−0.014%	$483K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,771.9	−0.008%	$14.6M	$118.0M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,772.5	+0.015%	$3.17B	$2.30B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,772.6	+0.018%	$31.2M	$319.4M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,771.6	−0.018%	$2.8M	$17.3M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,772.6	+0.019%	$2.7M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,770.5	−0.056%	$170.6M	$266.1M	25x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,770.8	−0.048%	—	$1.24B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,771.9	−0.006%	$15.3M	$43.4M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,771.4	−0.024%	$151.3M	$343.5M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,769.8	−0.082%	$181.8M	$784.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,770.8	−0.045%	$161.1M	$88.7M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,770.3	−0.064%	$21.4M	$58.6M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,773.1	+0.037%	$10.6M	$8.1M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,772.9	+0.029%	$21K	$24K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,774	+0.070%	$42.7M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,771.9	−0.005%	$973K	$13.8M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,770.9	−0.041%	$1.08B	$1.31B	200x	as long as short
Extended ETH-USD	+0.0104%	1h	2,770.3	−0.066%	$32.5M	$78.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,772.2	+0.005%	—	$41.7M	500x	as long as short
Deribit ETH-PERPETUAL	+0.0122%	1h	2,773.2	+0.040%	$259.1M	$219.9M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,773	+0.034%	$94.2M	$331.6M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0146%	8h	2,774.9	+0.102%	$32.6M	$12.0M	100x	as long as short
BloFin ETH-USDT	+0.0177%	8h	2,771.4	−0.024%	$287.4M	$192.6M	150x	as long as short
Hibachi ETH/USDT-Plong	+0.0184%	1h	2,772.1	long leg	$252K	$1.6M	20x
Reya ETHRUSDPERP	+0.0207%	1h	2,772.7	+0.022%	$7.3M	$1.2M	25x	as long as short