ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0121%/8h= −13.3% APRnext payment −$0.15 per $10,000 · paid last 24h −0.010%

Price spread now: Bulk against Kraken Futures+0.010%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$190.190% of the position

Long on Kraken Futures Short on Bulk

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 4 days (all we have)+0.292%+$29 · spread now +0.010%, 7d avg +0.014%

Together, before fees+0.294%+$29 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ETHUSD	2,746.3	0.0221	pay 0.0028% / 1h	10m 43s	$86.6M	$310.0M	100x
Short	Bulk ETH-USD	2,746.6	0.0100	get 0.0013% / 1h	10m 43s	$165.7M	$303.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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

Position, each leg$Hold fordaysFee Kraken FuturesbpFee BulkbpOrdersPrice spread, now +0.010%Rate

Funding earned: −$25.41
Price spread: +0.010% → +0.014%: −$0.33
Slippage, 4 orders: −$1.97
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$44.71
Costs to cover: 0.190%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; Bulk: live order book, 3 min ago.

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, 3 min ago	0.18 bp	5.4 bp −$5	6.5 bp −$65	7.9 bp −$794	12.3 bp −$6,126
Sell Bulk live order book, 3 min ago	0.02 bp	3.5 bp −$4	3.5 bp −$35	3.8 bp −$375	5.2 bp −$2,600

ETH on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff ETH-PERP	−0.0080%	1h	2,743.2	−0.112%	$5K	$1K	50x	as long as short
Injective ETH/USDC PERP	−0.0044%	1h	2,735.6	−0.389%	$117K	$22.5M	52x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,745.4	−0.032%	$12.1M	—	200x	as long as short
Perpl ETH	0.0000%	43m	2,744.1	−0.079%	$305K	$5.6M	8.3x	as long as short
dYdX ETH-USD	0.0000%	1h	2,746.4	+0.005%	$10.8M	$41.7M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,745.6	−0.024%	$25.1M	—	200x	as long as short
Phoenix ETH	+0.0017%	1h	2,746.8	+0.019%	$848K	$2.9M	25x	as long as short
01 Exchange ETHUSD	+0.0024%	1h	2,745	−0.047%	$182K	$836K	50x	as long as short
ApeX Omni ETHUSDT	+0.0032%	1h	2,744.4	−0.068%	$8.8M	$30.7M	100x	as long as short
BingX ETH-USDC	+0.0054%	8h	2,746.6	+0.010%	—	$18.4M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0068%	8h	2,746.9	+0.022%	$1.71B	$10.56B	100x	as long as short
KuCoin ETHUSDTM	+0.0071%	8h	2,746.7	+0.016%	$382.3M	$575.3M	100x	as long as short
Bullet ETH-USD	+0.0074%	1h	2,745	−0.048%	$182K	$1.7M	20x	as long as short
RISEx ETH/USDC	+0.0077%	1h	2,745.3	−0.037%	$5.6M	$11.4M	25x	as long as short
Aster ETHUSDT	+0.0087%	8h	2,746.8	+0.020%	$254.1M	$840.9M	200x	as long as short
SoDEX ETH-USD	+0.0091%	1h	2,745.4	−0.032%	$54.7M	$187.6M	40x	as long as short
MEXC ETH_USDT	+0.0094%	8h	2,746.6	+0.012%	$1.57B	$2.56B	500x	as long as short
Binance ETHUSDT	+0.0094%	8h	2,746.8	+0.018%	$6.38B	$15.68B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,747.2	+0.032%	$112.9M	$435.9M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,748.4	+0.078%	$24.7M	$104.2M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,742.8	−0.125%	—	$30.4M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,744.6	−0.060%	$4.9M	$154K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0096%	1h	2,746.2	−0.005%	$56.0M	$4.26B	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,750.9	+0.167%	$16.0M	$7.9M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,744.4	−0.069%	$469K	$3.1M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,744.5	−0.064%	$13.9M	$104.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,749.2	+0.106%	$3.12B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,747.4	+0.041%	$31.8M	$334.5M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,746.8	+0.019%	$2.45B	$4.17B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,742.7	−0.131%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,747.4	+0.042%	$2.8M	$16.4M	25x	as long as short
Bulk ETH-USDshort	+0.0100%	1h	2,746.6	+0.010%	$165.7M	$303.2M	25x
Gate ETH_USDT	+0.0100%	8h	2,747.2	+0.034%	$3.40B	$8.77B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,746.9	+0.022%	$2.09B	$2.72B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,745.5	−0.029%	$15.0M	$39.4M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,743.1	−0.116%	$133.1M	$325.6M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,743.6	−0.099%	$182.4M	$665.2M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,743.7	−0.093%	$159.6M	$83.5M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,744	−0.083%	$21.2M	$67.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,745.1	−0.044%	—	$815K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,745.8	−0.018%	$11.0M	$8.8M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,747.5	+0.044%	$41.5M	$29.6M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,745	−0.046%	$963K	$11.4M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,744.7	−0.056%	$1.06B	$1.17B	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,745.4	−0.032%	$266.8M	$64.9M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,745.9	−0.013%	$30.7M	$71.9M	50x	as long as short
Aftermath Perps ETHUSD	+0.0133%	1h	2,745.5	−0.029%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0159%	8h	2,744.5	−0.065%	$7.7M	$670.4M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0195%	8h	2,747.9	+0.059%	$32.3M	$11.4M	100x	as long as short
BloFin ETH-USDT	+0.0218%	8h	2,745.4	−0.033%	$285.8M	$180.2M	150x	as long as short
Kraken Futures PF_ETHUSDlong	+0.0221%	1h	2,746.3	long leg	$86.6M	$310.0M	100x
Reya ETHRUSDPERP	+0.0227%	1h	2,744.1	−0.081%	$7.3M	$1.2M	25x	as long as short
Deribit ETH-PERPETUAL	+0.0231%	1h	2,747	+0.026%	$259.8M	$195.3M	50x	as long as short
Hibachi ETH/USDT-P	+0.0256%	1h	2,745.3	−0.035%	$252K	$1.4M	20x	as long as short
Bluefin ETH-PERP	+0.0402%	1h	2,745.7	−0.021%	$21K	$20K	25x	as long as short