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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 03:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h −0.003%
Price spread now: Bulk against Jupiter Perps−0.026%7-day average +0.009% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on Jupiter PerpsShort on Bulk
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.002%$0 on $10k
Price spread, last 4 days (all we have)+0.028%+$3 · spread now −0.026%, 7d avg +0.009%
Together, before fees+0.027%+$3 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 0.034% cheaper against Jupiter Perps than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.009%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongJupiter Perps ETH-PERP2,742.2L +0.0096% / S +0.0056%pay 0.0012% / 1h34m 59s—$30.7M500x
ShortBulk ETH-USD2,741.50.0100get 0.0013% / 1h34m 59s$164.1M$300.8M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bulk against Jupiter Perps. 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
$0.84
Price spread: −0.026% → +0.009%
−$3.44
Slippage, 4 orders
no order book: not counted
Fee Jupiter Perps: 6 bp × 2 orders
−$12
Fee Bulk: 3.5 bp × 2 orders
−$7
Net
−$21.6
Costs to cover
0.190%
Break-even
187.0 days
Slippage unknown: Jupiter Perps: no order-book sample; Bulk: live order book, 4 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 Jupiter Perps no order-book sample—————
Sell Bulk live order book, 4 min ago0.02 bp3.5 bp −$43.7 bp −$375.2 bp −$5186.7 bp −$3,360
Jupiter Perps: 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
Hotstuff ETH-PERP−0.0080%1h2,741.5−0.026%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,743.1+0.032%$118K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,743+0.029%$12.1M—200xas long as short
dYdX ETH-USD0.0000%1h2,742−0.007%$10.8M$41.8M50xas long as short
Perpl ETH0.0000%43m2,741.9−0.013%$304K$5.6M8.3xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,743.1+0.032%$22.2M—200xas long as short
Phoenix ETH+0.0017%1h2,741.5−0.026%$846K$2.9M25xas long as short
01 Exchange ETHUSD+0.0032%1h2,741.6−0.023%$182K$916K50xas long as short
BingX ETH-USDT+0.0050%8h2,743.2+0.037%—$1.15B—as long as short
ApeX Omni ETHUSDT+0.0055%1h2,738.9−0.120%$8.8M$30.9M100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
KuCoin ETHUSDTM+0.0063%8h2,743+0.026%$383.3M$595.0M100xas long as short
OKX ETH-USDT-SWAP+0.0064%8h2,743.4+0.043%$1.70B$10.58B100xas long as short
RISEx ETH/USDC+0.0077%1h2,741.8−0.014%$5.6M$11.2M25xas long as short
Bullet ETH-USD+0.0079%1h2,742.6+0.012%$181K$1.7M20xas long as short
Aster ETHUSDT+0.0079%8h2,743+0.026%$252.4M$841.2M200xas long as short
MEXC ETH_USDT+0.0088%8h2,742.9+0.024%$1.56B$2.54B500xas long as short
Aevo ETH-PERP+0.0088%1h2,740.5−0.061%$4.9M$155K20xas long as short
Binance ETHUSDT+0.0089%8h2,743.3+0.040%$6.38B$15.70B150xas long as short
HTX ETH-USDT+0.0095%8h2,742.4+0.005%$1.06B$1.18B200xas long as short
Lighter ETH+0.0096%1h2,743.2+0.036%$112.7M$433.1M50xas long as short
Lighter RH ETH+0.0096%1h2,744.9+0.097%$24.6M$103.8M50xas long as short
Jupiter Perps ETH-PERPlongL +0.0096% / S +0.0056%1h2,742.2long leg—$30.7M500x
Coinbase International ETH-PERP-INTX+0.0096%1h2,744.5+0.082%$58.6M$4.27B50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,744.9+0.098%$16.0M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,741.2−0.037%$467K$3.0M50xas long as short
Nado ETH-PERP+0.0100%1h2,741.9−0.012%$13.9M$105.5M50xas long as short
Hyperliquid ETH+0.0100%1h2,745.4+0.114%$3.12B$2.06B25xas long as short
Pacifica ETH+0.0100%1h2,741.7−0.020%$31.6M$335.1M50xas long as short
Bybit ETHUSDT+0.0100%8h2,743.3+0.039%$2.45B$4.17B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,740.4−0.067%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,741.7−0.019%$2.7M$16.1M25xas long as short
Bulk ETH-USDshort+0.0100%1h2,741.5−0.026%$164.1M$300.8M25x
Gate ETH_USDT+0.0100%8h2,743.4+0.044%$3.39B$8.72B200xas long as short
Bitget ETHUSDT+0.0100%8h2,743.5+0.045%$2.08B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,742.1−0.005%$15.0M$40.9M50xas long as short
Variational Omni ETH+0.0100%8h2,740.7−0.056%$132.6M$333.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,737.1−0.187%$181.9M$690.6M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,740−0.083%$159.3M$83.6M50xas long as short
StandX ETH-USD+0.0100%1h2,740.1−0.077%$21.2M$68.2M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,743.8+0.057%$11.0M$8.8M50xas long as short
Derive ETH-PERP+0.0100%1h2,744.8+0.094%$41.5M$29.6M15xas long as short
SunX ETH-USDT+0.0100%8h2,741.2−0.036%$962K$11.5M100xas long as short
SoDEX ETH-USD+0.0100%1h2,743+0.028%$54.6M$187.5M40xas long as short
Phemex ETHUSDT+0.0100%8h2,742.8+0.021%$266.8M$65.0M150xas long as short
Vest ETH-PERP+0.0100%1h2,742.6+0.015%—$819K50xas long as short
Extended ETH-USD+0.0104%1h2,742.6+0.015%$30.6M$72.4M50xas long as short
Bluefin ETH-PERP+0.0107%1h2,742.8+0.021%$21K$20K25xas long as short
Aftermath Perps ETHUSD+0.0134%1h2,741.4−0.029%$30K$20K20xas long as short
Deribit ETH-PERPETUAL+0.0155%1h2,744.5+0.081%$258.8M$196.1M50xas long as short
Kalshi KXETHPERP+0.0157%8h2,742.5+0.010%$7.6M$669.4M4.9xas long as short
Orderly PERP_ETH_USDC+0.0189%8h2,745+0.101%$32.3M$11.3M100xas long as short
Kraken Futures PF_ETHUSD+0.0221%1h2,744.1+0.070%$87.1M$310.2M100xas long as short
Reya ETHRUSDPERP+0.0226%1h2,742.3+0.003%$7.3M$1.1M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,741.4−0.029%$252K$1.4M20xas long as short
BloFin ETH-USDT+0.0251%8h2,743+0.030%$285.0M$182.0M150xas long as short