ETH

Alert

Funding spread now, next payment 16:00 UTC−0.0248%/8h

next payment, per $10,000−$0.31paid, last 24h+0.019%paid, last 7 days0.000%to open and close $10k−$21

Long on Kraken Futures Short on Backpack

The current rate is far above what this pair has been paying: over the last 7 days it paid 0.000% in total (about 0.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.31 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	Kraken Futures PF_ETHUSD	2,756.4	0.0348	pay 0.0044% / 1h	11m 00s	$87.5M	$313.3M	100x
Short	Backpack ETH_USDC_PERP	2,754.3	0.0100	get 0.0013% / 1h	11m 00s	$15.1M	$39.8M	50x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee BackpackbpOrdersRate

Funding earned: −$52.13
Slippage, 4 orders: −$1.25
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$73.37
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; Backpack: live order book, 5 min ago.

Price risk

price view

Price gap now: −0.075%
Avg gap 7d: −0.011%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Kraken Futures live order book, 5 min ago	0.37 bp	5.8 bp −$6	7.5 bp −$75	9.6 bp −$956	13.3 bp −$6,649
Sell Backpack live order book, 5 min ago	0.02 bp	5.0 bp −$5	6.2 bp −$62	16.6 bp −$1,659	doesn't fit

ETH on 54 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Perpl ETH	−0.0447%	43m	$417K	$5.9M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	$5K	$2K	50x	as long as short
Gate ETH_USDT	−0.0049%	8h	$3.60B	$8.80B	200x	as long as short
ApeX Omni ETHUSDT	−0.0032%	1h	$7.7M	$27.6M	100x	as long as short
SoDEX ETH-USD	−0.0007%	1h	$55.6M	$161.6M	40x	as long as short
01 Exchange ETHUSD	0.0000%	1h	$183K	$1.2M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	$8.0M	$539.7M	4.9x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	$22.3M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0013%	8h	$1.72B	$11.17B	100x	as long as short
Bullet ETH-USD	+0.0019%	1h	$192K	$1.9M	20x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
GMX ETH/USD [ETH-USDC]	L +0.0019% / S +0.0013%	1h	$12.0M	—	200x	as long as short
Phemex ETHUSDT	+0.0034%	8h	$266.3M	$66.2M	150x	as long as short
Phoenix ETH	+0.0050%	1h	$1.4M	$2.4M	25x	as long as short
Bitget ETHUSDT	+0.0062%	8h	$2.14B	$3.11B	150x	as long as short
Injective ETH/USDC PERP	+0.0067%	1h	$118K	$22.5M	52x	as long as short
HTX ETH-USDT	+0.0079%	8h	$1.09B	$1.19B	200x	as long as short
dYdX ETH-USD	+0.0082%	1h	$16.2M	$33.0M	50x	as long as short
Hibachi ETH/USDT-P	+0.0088%	1h	$289K	$1.3M	20x	as long as short
Aevo ETH-PERP	+0.0088%	1h	$5.0M	$729K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	$60.8M	$4.80B	50x	as long as short
MEXC ETH_USDT	+0.0091%	8h	$1.53B	$2.49B	500x	as long as short
Binance ETHUSDT	+0.0091%	8h	$6.56B	$15.49B	150x	as long as short
Lighter ETH	+0.0096%	1h	$118.1M	$503.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	$26.0M	$119.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	—	$44.7M	500x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	$14.4M	$11.5M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	$476K	$2.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	$17.9M	$113.6M	50x	as long as short
Aster ETHUSDT	+0.0100%	8h	$274.6M	$852.1M	200x	as long as short
Pacifica ETH	+0.0100%	1h	$31.0M	$209.4M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	$2.51B	$4.43B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	$3.0M	$13.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	$2.5M	$15.7M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	$151.8M	$273.7M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	$408.3M	$663.9M	100x	as long as short
BingX ETH-USDC	+0.0100%	8h	—	$16.2M	—	as long as short
Backpack ETH_USDC_PERPshort	+0.0100%	1h	$15.1M	$39.8M	50x
Variational Omni ETH	+0.0100%	8h	$151.7M	$300.2M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	$178.0M	$734.7M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	$21.0M	$51.6M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	$10.8M	$5.3M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	$21K	$26K	25x	as long as short
SunX ETH-USDT	+0.0100%	8h	$950K	$14.7M	100x	as long as short
Vest ETH-PERP	+0.0100%	1h	—	$1.2M	50x	as long as short
Extended ETH-USD	+0.0104%	1h	$32.7M	$75.2M	50x	as long as short
Reya ETHRUSDPERP	+0.0162%	1h	$7.3M	$970K	25x	as long as short
RISEx ETH/USDC	+0.0171%	1h	$5.8M	$13.3M	25x	as long as short
Orderly PERP_ETH_USDC	+0.0206%	8h	$32.3M	$10.6M	100x	as long as short
BloFin ETH-USDT	+0.0211%	8h	$296.5M	$179.9M	150x	as long as short
Deribit ETH-PERPETUAL	+0.0280%	1h	$260.2M	$215.6M	50x	as long as short
Aftermath Perps ETHUSD	+0.0295%	1h	$29K	$27K	20x	as long as short
Derive ETH-PERP	+0.0305%	1h	$42.9M	$27.1M	15x	as long as short
Kraken Futures PF_ETHUSDlong	+0.0348%	1h	$87.5M	$313.3M	100x
Hyperliquid ETH	+0.0353%	1h	$3.28B	$2.18B	25x	as long as short