ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0168%/8h= −18.4% APRnext payment −$0.21 per $10,000 · paid last 24h −0.049%

Price spread now: Injective against Kraken Futures−0.017%7-day average +0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$720.725% of the position

Long on Kraken Futures Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 4 days (all we have)−0.098%−$10 · spread now −0.017%, 7d avg +0.061%

Together, before fees−0.038%−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Injective is 0.078% cheaper against Kraken Futures than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.061%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.060%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ETHUSD	2,719.6	0.0177	pay 0.0022% / 1h	28m 27s	$82.7M	$315.7M	100x
Short	Injective ETH/USDC PERP	2,719.1	0.0009	get 0.0001% / 1h	28m 27s	$117K	$22.5M	52x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.017%Rate

Funding earned: −$35.26
Price spread: −0.017% → +0.061%: −$7.81
Slippage, 4 orders: −$62.45
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$115.54
Costs to cover: 0.725%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 6 min ago; Injective: live order book, 1 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, 6 min ago	0.18 bp	6.1 bp −$6	6.7 bp −$67	8.3 bp −$834	11.9 bp −$5,970
Sell Injective live order book, 1 min ago	14.32 bp	45.4 bp −$45	47.5 bp −$475	47.7 bp −$4,774	doesn't fit

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
Perpl ETH	−0.0447%	43m	2,717	−0.096%	$281K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,719.9	+0.012%	$5K	$1K	50x	as long as short
HTX ETH-USDT	−0.0011%	8h	2,718.5	−0.041%	$1.05B	$1.21B	200x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,720.3	+0.029%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0009%	1h	2,719.7	+0.005%	$814K	$3.0M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,720.6	+0.037%	$30.9M	—	200x	as long as short
Injective ETH/USDC PERPshort	+0.0009%	1h	2,719.1	−0.017%	$117K	$22.5M	52x
dYdX ETH-USD	+0.0009%	1h	2,717.3	−0.083%	$10.7M	$42.0M	50x	as long as short
BingX ETH-USDC	+0.0033%	8h	2,716.9	−0.099%	—	$18.5M	—	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,717.9	−0.061%	$190K	$796K	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0043%	8h	2,716.5	−0.112%	$2.34B	$4.42B	150x	as long as short
Deribit ETH-PERPETUAL	+0.0062%	1h	2,721	+0.054%	$258.8M	$206.5M	50x	as long as short
SunX ETH-USDT	+0.0067%	8h	2,720.3	+0.025%	$955K	$11.2M	100x	as long as short
ApeX Omni ETHUSDT	+0.0069%	1h	2,717.6	−0.074%	$8.6M	$31.3M	100x	as long as short
Bullet ETH-USD	+0.0071%	1h	2,716	−0.131%	$179K	$1.7M	20x	as long as short
Aftermath Perps ETHUSD	+0.0075%	1h	2,720.3	+0.026%	$30K	$20K	20x	as long as short
KuCoin ETHUSDTM	+0.0075%	8h	2,717.9	−0.061%	$374.5M	$577.9M	100x	as long as short
Aster ETHUSDT	+0.0084%	8h	2,717.3	−0.084%	$251.4M	$843.4M	200x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,717.5	−0.076%	$4.9M	$155K	20x	as long as short
MEXC ETH_USDT	+0.0091%	8h	2,716.3	−0.121%	$1.55B	$2.58B	500x	as long as short
Binance ETHUSDT	+0.0091%	8h	2,716.8	−0.102%	$6.29B	$16.07B	150x	as long as short
OKX ETH-USDT-SWAP	+0.0094%	8h	2,716.4	−0.117%	$1.66B	$10.76B	100x	as long as short
Phemex ETHUSDT	+0.0095%	8h	2,719.8	+0.008%	$262.6M	$64.4M	150x	as long as short
Lighter ETH	+0.0096%	1h	2,717.5	−0.075%	$111.4M	$433.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,718.5	−0.038%	$23.3M	$103.3M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,716.7	−0.105%	$496K	$3.4M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,719.1	−0.017%	$15.1M	$8.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,716.9	−0.100%	$13.8M	$105.1M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,718.9	−0.024%	$3.08B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,718	−0.057%	$31.9M	$333.8M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,716.4	−0.116%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,717.6	−0.074%	$1.5M	$16.2M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,719	−0.022%	$161.7M	$327.3M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,717.1	−0.089%	$3.30B	$8.96B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,716.3	−0.121%	$2.07B	$2.77B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,718.6	−0.036%	$14.9M	$43.2M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,716.7	−0.104%	$132.7M	$328.5M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,717.4	−0.080%	$184.0M	$676.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,718.2	−0.049%	$158.2M	$87.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,718.7	−0.032%	$20.9M	$70.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,718.7	−0.032%	—	$876K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,717.8	−0.065%	$11.1M	$9.5M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,720.5	+0.033%	$22K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,721.1	+0.058%	$40.8M	$30.1M	15x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,719.1	−0.017%	$54.1M	$187.8M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,716.1	−0.128%	$30.5M	$74.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,720.8	+0.044%	—	$31.3M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,720	+0.016%	$49.8M	$4.28B	50x	as long as short
RISEx ETH/USDC	+0.0108%	1h	2,717.5	−0.075%	$5.5M	$11.8M	25x	as long as short
Kalshi KXETHPERP	+0.0156%	8h	2,720.6	+0.038%	$6.4M	$692.0M	4.9x	as long as short
Kraken Futures PF_ETHUSDlong	+0.0177%	1h	2,719.6	long leg	$82.7M	$315.7M	100x
Orderly PERP_ETH_USDC	+0.0189%	8h	2,722.2	+0.096%	$32.0M	$11.4M	100x	as long as short
Reya ETHRUSDPERP	+0.0200%	1h	2,715.4	−0.155%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0256%	1h	2,721.9	+0.086%	$249K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0334%	8h	2,718.8	−0.027%	$280.7M	$173.9M	150x	as long as short