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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 12:00 UTC+0.0081%/8h= +8.9% APRnext payment +$0.81 per $10,000 · paid last 24h −0.014%
Price spread now: Gate against Kalshi−0.009%7-day average +0.005% · you buy dearer than you sell
Net, funding: paid 7d − costs−$26as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$260.261% of the position
Long on KalshiShort on Gate
What this pair did over the last
the charts below follow
Funding, last 7 days+0.002%$0 on $10k
Price spread, last 7 days−0.004%$0 · spread now −0.009%, 7d avg +0.005%
Together, before fees−0.002%$0 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.005%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKalshi KXETHPERP2,7490get 0.0000% / 8h1h 55m$7.2M$661.1M4.9x
ShortGate ETH_USDT2,748.80.0081get 0.0081% / 8h5h 55m$3.27B$7.68B200x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Gate against Kalshi. 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
$17.01
Price spread: −0.009% → +0.005%
−$1.35
Slippage, 4 orders
−$1.13
Fee Kalshi: 5 bp × 2 orders
−$10
Fee Gate: 7.5 bp × 2 orders
−$15
Net
−$10.47
Costs to cover
0.261%
Break-even
11.3 days
Slippage from Kalshi: live order book, 2 min ago; Gate: live order book, 2 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 Kalshi live order book, 2 min ago0.36 bp5.7 bp −$67.3 bp −$7311.1 bp −$1,11116.8 bp −$8,404
Sell Gate live order book, 2 min ago0.02 bp7.5 bp −$87.5 bp −$7510.5 bp −$1,05020.1 bp −$10.0K

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-P−0.0128%1h2,750.1+0.040%$235K$1.2M20xas long as short
Hotstuff ETH-PERP−0.0080%1h2,749.4+0.015%$5K$1K50xas long as short
Phoenix ETH−0.0023%1h2,750+0.036%$809K$2.8M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0009% / S +0.0043%1h2,748.5−0.016%$12.2M—200xas long as short
Kalshi KXETHPERPlong0.0000%8h2,749long leg$7.2M$661.1M4.9x
Perpl ETH0.0000%43m2,749.9+0.033%$269K$5.0M8.3xas long as short
Bybit ETHUSDT+0.0002%8h2,748.8−0.007%$2.37B$3.82B150xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,749.5+0.019%$33.2M—200xas long as short
ApeX Omni ETHUSDT+0.0024%1h2,748.5−0.018%$8.3M$25.3M100xas long as short
OKX ETH-USDT-SWAP+0.0068%8h2,748.6−0.013%$1.67B$9.25B100xas long as short
Show all 54 exchanges
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
01 Exchange ETHUSD+0.0072%1h2,749.4+0.015%$182K$950K50xas long as short
Deribit ETH-PERPETUAL+0.0074%1h2,749.4+0.016%$266.7M$185.6M50xas long as short
Gate ETH_USDTshort+0.0081%8h2,748.8−0.009%$3.27B$7.68B200x
Aster ETHUSDT+0.0084%8h2,748.6−0.014%$257.5M$722.6M200xas long as short
KuCoin ETHUSDTM+0.0088%8h2,748.5−0.018%$365.3M$442.0M100xas long as short
Aevo ETH-PERP+0.0088%1h2,747.3−0.062%$4.9M$214K20xas long as short
Binance ETHUSDT+0.0090%8h2,748.8−0.009%$6.41B$14.09B150xas long as short
MEXC ETH_USDT+0.0090%8h2,748.8−0.009%$1.60B$2.34B500xas long as short
Lighter ETH+0.0096%1h2,749+0.001%$113.9M$382.9M50xas long as short
Lighter RH ETH+0.0096%1h2,750.3+0.046%$23.7M$93.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,748.2−0.028%—$23.6M500xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,749.4+0.015%$46.2M$3.91B50xas long as short
Katana Perps ETH-USD+0.0100%8h2,748.3−0.025%$507K$3.5M50xas long as short
Nado ETH-PERP+0.0100%1h2,749.6+0.024%$14.6M$96.1M50xas long as short
Pacifica ETH+0.0100%1h2,749.5+0.018%$32.4M$325.1M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,747.6−0.051%$2.8M$14.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,749.7+0.026%$1.5M$14.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,749.3+0.010%$164.5M$330.2M25xas long as short
Bitget ETHUSDT+0.0100%8h2,748.7−0.011%$2.11B$2.31B150xas long as short
BingX ETH-USDC+0.0100%8h2,747.8−0.044%—$18.5M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,748−0.037%$14.9M$36.3M50xas long as short
Variational Omni ETH+0.0100%8h2,747.8−0.042%$132.6M$290.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,748.3−0.026%$185.2M$607.0M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,750.1+0.040%$159.9M$69.4M50xas long as short
StandX ETH-USD+0.0100%1h2,750.6+0.058%$21.1M$75.7M40xas long as short
Vest ETH-PERP+0.0100%1h2,749.8+0.030%—$352K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,749.7+0.025%$11.3M$8.6M50xas long as short
Bullet ETH-USD+0.0100%1h2,748.3−0.025%$177K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,748.6−0.016%$20K$14K25xas long as short
SunX ETH-USDT+0.0100%8h2,748.8−0.006%$948K$8.7M100xas long as short
SoDEX ETH-USD+0.0100%1h2,748.5−0.018%$61.9M$121.8M40xas long as short
HTX ETH-USDT+0.0100%8h2,748.4−0.023%$1.05B$1.05B200xas long as short
Phemex ETHUSDT+0.0100%8h2,748.2−0.029%$264.1M$57.4M150xas long as short
Extended ETH-USD+0.0104%1h2,747.8−0.044%$30.5M$65.2M50xas long as short
Aftermath Perps ETHUSD+0.0104%1h2,748.8−0.006%$30K$8K20xas long as short
Kraken Futures PF_ETHUSD+0.0105%1h2,748.7−0.012%$82.5M$275.0M100xas long as short
Reya ETHRUSDPERP+0.0157%1h2,747.3−0.061%$7.3M$832K25xas long as short
Orderly PERP_ETH_USDC+0.0174%8h2,750.2+0.045%$32.5M$10.0M100xas long as short
dYdX ETH-USD+0.0189%1h2,749.3+0.010%$15.3M$42.8M50xas long as short
RISEx ETH/USDC+0.0206%1h2,749.6+0.021%$5.7M$10.6M25xas long as short
Hyperliquid ETH+0.0249%1h2,751.7+0.097%$3.16B$1.75B25xas long as short
BloFin ETH-USDT+0.0361%8h2,749.4+0.016%$283.3M$149.9M150xas long as short
Injective ETH/USDC PERP+0.0461%1h2,751.5+0.091%$118K$21.7M52xas long as short
Paradex ETH-USD-PERP+0.0522%8h2,752.9+0.140%$16.0M$6.2M50xas long as short