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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Funding you earn now, next payment 03:00 UTC+0.0047%/8h= +5.2% APRpaid last 24h +0.001%
Price spread now: Deribit against Katana Perps+0.059%7-day average +0.041% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Katana PerpsShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.002%$0 on $10k
Price spread, last 3 days (all we have)−0.037%−$4 · spread now +0.059%, 7d avg +0.041%
Together, before fees−0.039%−$4 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.041%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKatana Perps ETH-USD2,743.90.0100pay 0.0100% / 8h5h 53m$485K$3.0M50x
ShortDeribit ETH-PERPETUAL2,745.50.0147get 0.0018% / 1h53m 32s$258.9M$195.4M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit against Katana Perps. 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
$9.91
Price spread: +0.059% → +0.041%
$1.88
Slippage, 4 orders
no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders
−$3.8
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
$1
Costs to cover
0.108%
Break-even
6.3 days
Slippage unknown: Katana Perps: no order-book sample; Deribit: live order book, 1 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 Katana Perps no order-book sample—————
Sell Deribit live order book, 1 min ago0.09 bp4.1 bp −$45.2 bp −$5211.6 bp −$1,16424.1 bp −$12.0K
Katana 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 54 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
ApeX Omni ETHUSDT−0.0362%1h2,743−0.032%$8.7M$31.1M100xas long as short
Perpl ETH−0.0112%43m2,743.4−0.017%$306K$5.6M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,743.6−0.011%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,744.1+0.007%$118K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,743.1−0.031%$12.1M—200xas long as short
Phoenix ETH−0.0006%1h2,748.4+0.164%$847K$2.9M25xas long as short
dYdX ETH-USD0.0000%1h2,744.1+0.006%$10.8M$41.8M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,743.2−0.027%$22.2M—200xas long as short
BingX ETH-USDC+0.0043%8h2,743.3−0.024%—$18.4M—as long as short
01 Exchange ETHUSD+0.0048%1h2,745.1+0.044%$183K$916K50xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0055%8h2,744.4+0.017%$1.70B$10.55B100xas long as short
KuCoin ETHUSDTM+0.0065%8h2,742.8−0.039%$378.7M$595.8M100xas long as short
Aster ETHUSDT+0.0075%8h2,744.3+0.014%$252.3M$840.6M200xas long as short
RISEx ETH/USDC+0.0077%1h2,744.8+0.032%$5.7M$11.2M25xas long as short
Aevo ETH-PERP+0.0080%1h2,741.6−0.083%$4.9M$159K20xas long as short
MEXC ETH_USDT+0.0084%8h2,743.6−0.011%$1.56B$2.51B500xas long as short
Binance ETHUSDT+0.0084%8h2,744.2+0.011%$6.38B$15.70B150xas long as short
HTX ETH-USDT+0.0093%8h2,743.8−0.005%$1.06B$1.18B200xas long as short
Lighter ETH+0.0096%1h2,743.5−0.016%$112.7M$430.4M50xas long as short
Lighter RH ETH+0.0096%1h2,744.7+0.031%$24.7M$103.1M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,743.8−0.004%—$30.9M500xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,744.7+0.029%$58.6M$4.27B50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,747.9+0.147%$16.1M$7.9M50xas long as short
Katana Perps ETH-USDlong+0.0100%8h2,743.9long leg$485K$3.0M50x
Nado ETH-PERP+0.0100%1h2,743.3−0.022%$13.9M$106.1M50xas long as short
Hyperliquid ETH+0.0100%1h2,744.9+0.036%$3.12B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,744.2+0.011%$31.6M$334.3M50xas long as short
Bybit ETHUSDT+0.0100%8h2,744.4+0.017%$2.46B$4.17B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,742.9−0.036%$2.7M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,744.9+0.037%$2.7M$16.0M25xas long as short
Bulk ETH-USD+0.0100%1h2,743.3−0.022%$163.1M$304.4M25xas long as short
Gate ETH_USDT+0.0100%8h2,744.1+0.007%$3.39B$8.64B200xas long as short
Bitget ETHUSDT+0.0100%8h2,744.5+0.021%$2.08B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,742.7−0.046%$15.0M$41.1M50xas long as short
Variational Omni ETH+0.0100%8h2,748+0.151%$132.7M$342.3M—as long as short
edgeX ETHUSDC+0.0100%4h2,744.3+0.013%$181.8M$689.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,743.2−0.025%$159.5M$81.2M50xas long as short
StandX ETH-USD+0.0100%1h2,743.8−0.004%$21.2M$69.2M40xas long as short
Vest ETH-PERP+0.0100%1h2,744.3+0.015%—$819K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,743.6−0.011%$10.7M$8.4M50xas long as short
Bullet ETH-USD+0.0100%1h2,742.7−0.044%$182K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,744.2+0.010%$21K$21K25xas long as short
Derive ETH-PERP+0.0100%1h2,745.5+0.060%$41.6M$29.6M15xas long as short
SunX ETH-USDT+0.0100%8h2,742.2−0.062%$962K$11.8M100xas long as short
SoDEX ETH-USD+0.0100%1h2,744+0.004%$54.6M$187.5M40xas long as short
Phemex ETHUSDT+0.0100%8h2,743.4−0.020%$267.0M$65.2M150xas long as short
Extended ETH-USD+0.0104%1h2,743.2−0.027%$30.6M$72.5M50xas long as short
Aftermath Perps ETHUSD+0.0111%1h2,746+0.076%$30K$20K20xas long as short
Deribit ETH-PERPETUALshort+0.0147%1h2,745.5+0.059%$258.9M$195.4M50x
Kalshi KXETHPERP+0.0149%8h2,744.9+0.036%$7.7M$669.0M4.9xas long as short
Orderly PERP_ETH_USDC+0.0184%8h2,746.7+0.101%$32.3M$11.0M100xas long as short
Kraken Futures PF_ETHUSD+0.0221%1h2,744.7+0.029%$88.0M$309.0M100xas long as short
Reya ETHRUSDPERP+0.0224%1h2,742.4−0.054%$7.3M$1.1M25xas long as short
Hibachi ETH/USDT-P+0.0232%1h2,749.7+0.210%$250K$1.4M20xas long as short