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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 09:00 UTC−0.0022%/8h= −2.4% APRpaid last 24h −0.026%
Price spread now: Binance against Kraken Futures−0.043%7-day average −0.009% · you buy dearer than you sell
Net, funding: paid 7d − costs−$35as in the Funding arb table
Net, price: spread back to 7d avg − costs−$26as in the Price arb table
costs, in and out, $10k−$230.228% of the position
Long on Kraken FuturesShort on Binance
What this pair did over the last
the charts below follow
Funding, last 7 days−0.118%−$12 on $10k
Price spread, last 4 days (all we have)+0.144%+$14 · spread now −0.043%, 7d avg −0.009%
Together, before fees+0.026%+$3 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Binance is 0.034% cheaper against Kraken Futures than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.009%). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKraken Futures PF_ETHUSD2,725.70.0105pay 0.0013% / 1h31m 46s$81.8M$309.0M100x
ShortBinance ETHUSDT2,724.60.0083get 0.0083% / 8h7h 31m$6.30B$15.99B150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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
−$4.63
Price spread: −0.043% → −0.009%
−$3.42
Slippage, 4 orders
−$2.84
Fee Kraken Futures: 5 bp × 2 orders
−$10
Fee Binance: 5 bp × 2 orders
−$10
Net
−$30.89
Costs to cover
0.228%
Break-even
never at this rate
Slippage from Kraken Futures: live order book, 2 min ago; Binance: live order book, 12 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 Kraken Futures live order book, 2 min ago0.18 bp6.0 bp −$67.2 bp −$728.6 bp −$86112.3 bp −$6,175
Sell Binance live order book, 12 min ago0.02 bp5.0 bp −$55.0 bp −$505.7 bp −$5697.7 bp −$3,860

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
BloFin ETH-USDT−0.0174%8h2,727+0.047%$280.2M$176.7M150xas long as short
HTX ETH-USDT−0.0128%8h2,724.6−0.042%$1.05B$1.21B200xas long as short
Perpl ETH−0.0112%43m2,726.1+0.015%$275K$5.7M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,725.5−0.008%$5K$1K50xas long as short
Bybit ETHUSDT−0.0079%8h2,724.4−0.048%$2.31B$4.29B150xas long as short
SunX ETH-USDT−0.0047%8h2,724.8−0.033%$940K$10.6M100xas long as short
Phoenix ETH−0.0012%1h2,732+0.230%$806K$3.0M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,725.3−0.015%$11.9M—200xas long as short
dYdX ETH-USD0.0000%1h2,726.5+0.029%$10.5M$41.9M50xas long as short
Kalshi KXETHPERP0.0000%8h2,726.1+0.014%$6.7M$669.7M4.9xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Deribit ETH-PERPETUAL0.0000%1h2,726+0.011%$264.1M$219.6M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,725.4−0.011%$32.9M—200xas long as short
Gate ETH_USDT+0.0014%8h2,724.7−0.039%$3.27B$8.27B200xas long as short
ApeX Omni ETHUSDT+0.0025%1h2,731.7+0.218%$8.4M$31.2M100xas long as short
01 Exchange ETHUSD+0.0040%1h2,725.9+0.007%$194K$888K50xas long as short
Hibachi ETH/USDT-P+0.0048%1h2,731.4+0.209%$237K$1.4M20xas long as short
SoDEX ETH-USD+0.0048%1h2,725−0.026%$54.3M$182.4M40xas long as short
Aster ETHUSDT+0.0072%8h2,725−0.028%$252.1M$841.7M200xas long as short
OKX ETH-USDT-SWAP+0.0076%8h2,724.7−0.037%$1.65B$10.60B100xas long as short
Aevo ETH-PERP+0.0080%1h2,726+0.009%$4.9M$195K20xas long as short
KuCoin ETHUSDTM+0.0082%8h2,725.1−0.022%$382.5M$565.0M100xas long as short
Binance ETHUSDTshort+0.0083%8h2,724.6−0.043%$6.30B$15.99B150x
MEXC ETH_USDT+0.0085%8h2,724.6−0.041%$1.56B$2.56B500xas long as short
Bullet ETH-USD+0.0089%1h2,724.8−0.033%$175K$1.7M20xas long as short
Lighter ETH+0.0096%1h2,725.3−0.015%$112.4M$402.0M50xas long as short
Lighter RH ETH+0.0096%1h2,726.6+0.031%$23.6M$96.2M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,727.6+0.069%—$30.4M500xas long as short
Katana Perps ETH-USD+0.0100%8h2,724.8−0.034%$497K$3.6M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,728.9+0.116%$15.4M$7.1M50xas long as short
Nado ETH-PERP+0.0100%1h2,726.6+0.030%$14.3M$101.0M50xas long as short
Hyperliquid ETH+0.0100%1h2,727.3+0.059%$3.10B$2.03B25xas long as short
Pacifica ETH+0.0100%1h2,726+0.010%$32.0M$333.3M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,724.9−0.030%$2.7M$16.3M25xas long as short
Arcus ETH-USD+0.0100%1h2,725.5−0.010%$1.6M$15.8M25xas long as short
Bulk ETH-USD+0.0100%1h2,729.4+0.135%$164.7M$339.6M25xas long as short
Bitget ETHUSDT+0.0100%8h2,725−0.028%$2.11B$2.72B150xas long as short
BingX ETH-USDC+0.0100%8h2,724.1−0.059%—$18.7M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,724.7−0.036%$15.1M$39.9M50xas long as short
Variational Omni ETH+0.0100%8h2,730.8+0.185%$132.0M$316.4M—as long as short
edgeX ETHUSDC+0.0100%4h2,731+0.194%$185.8M$683.1M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,731.8+0.223%$158.8M$80.0M50xas long as short
StandX ETH-USD+0.0100%1h2,728.1+0.087%$20.9M$70.9M40xas long as short
Vest ETH-PERP+0.0100%1h2,727.6+0.067%—$436K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,723.5−0.081%$11.2M$9.3M50xas long as short
Derive ETH-PERP+0.0100%1h2,732.9+0.263%$40.6M$29.2M15xas long as short
Phemex ETHUSDT+0.0100%8h2,725.3−0.015%$262.6M$63.2M150xas long as short
Extended ETH-USD+0.0104%1h2,723.9−0.065%$30.5M$70.6M50xas long as short
Kraken Futures PF_ETHUSDlong+0.0105%1h2,725.7long leg$81.8M$309.0M100x
Aftermath Perps ETHUSD+0.0118%1h2,730.3+0.170%$30K$20K20xas long as short
Coinbase International ETH-PERP-INTX+0.0120%1h2,726.1+0.012%$45.9M$4.22B50xas long as short
RISEx ETH/USDC+0.0137%1h2,726.7+0.037%$5.7M$11.4M25xas long as short
Reya ETHRUSDPERP+0.0172%1h2,724−0.062%$7.3M$972K25xas long as short
Orderly PERP_ETH_USDC+0.0183%8h2,727.3+0.059%$32.1M$10.9M100xas long as short
Injective ETH/USDC PERP+0.0253%1h2,735+0.340%$117K$21.0M52xas long as short
Bluefin ETH-PERP+0.1713%1h2,725.9+0.007%$20K$23K25xas long as short