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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 05:00 UTC−0.0038%/8h= −4.1% APRpaid last 24h −0.007%
Price spread now: Bullet against KuCoin−0.009%7-day average +0.011% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$26as in the Price arb table
costs, in and out, $10k−$240.239% of the position
Long on KuCoinShort on Bullet
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.007%+$1 on $10k
Price spread, last 7 days+0.007%+$1 · spread now −0.009%, 7d avg +0.011%
Together, before fees+0.014%+$1 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.011%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKuCoin ETHUSDTM2,738.90.0068pay 0.0068% / 8h3h 45m$380.4M$574.2M100x
ShortBullet ETH-USD2,738.60.0030get 0.0004% / 1h45m 15s$180K$1.7M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bullet against KuCoin. 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
−$7.9
Price spread: −0.009% → +0.011%
−$1.96
Slippage, 4 orders
−$3.9
Fee KuCoin: 6 bp × 2 orders
−$12
Fee Bullet: 4 bp × 2 orders
−$8
Net
−$33.77
Costs to cover
0.239%
Break-even
never at this rate
Slippage from KuCoin: live order book, 4 min ago; Bullet: live order book, 4 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 KuCoin live order book, 4 min ago0.02 bp6.6 bp −$77.3 bp −$738.5 bp −$849doesn't fit
Sell Bullet live order book, 4 min ago0.18 bp5.5 bp −$67.7 bp −$77doesn't fitdoesn't fit

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
Perpl ETH−0.0447%43m2,739+0.004%$297K$5.6M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,740.5+0.059%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,739.6+0.028%$12.0M—200xas long as short
Phoenix ETH−0.0006%1h2,740.2+0.048%$819K$2.9M25xas long as short
Kalshi KXETHPERP0.0000%8h2,740.3+0.052%$6.6M$681.2M4.9xas long as short
dYdX ETH-USD0.0000%1h2,740+0.043%$10.8M$42.0M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,740+0.041%$28.1M—200xas long as short
HTX ETH-USDT+0.0015%8h2,739.2+0.012%$1.06B$1.20B200xas long as short
Bullet ETH-USDshort+0.0030%1h2,738.6−0.009%$180K$1.7M20x
BingX ETH-USDC+0.0039%8h2,738.8−0.004%—$18.4M—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit ETHUSDT+0.0042%8h2,739.7+0.030%$2.37B$4.37B150xas long as short
01 Exchange ETHUSD+0.0048%1h2,739.6+0.026%$187K$816K50xas long as short
ApeX Omni ETHUSDT+0.0067%1h2,739.1+0.006%$8.7M$31.2M100xas long as short
KuCoin ETHUSDTMlong+0.0068%8h2,738.9long leg$380.4M$574.2M100x
Phemex ETHUSDT+0.0072%8h2,740.2+0.046%$265.8M$65.3M150xas long as short
OKX ETH-USDT-SWAP+0.0075%8h2,740+0.041%$1.67B$10.76B100xas long as short
Deribit ETH-PERPETUAL+0.0082%1h2,741.4+0.091%$259.4M$199.9M50xas long as short
Aster ETHUSDT+0.0089%8h2,739.4+0.018%$251.8M$842.8M200xas long as short
SoDEX ETH-USD+0.0094%1h2,740+0.041%$54.6M$187.7M40xas long as short
Lighter ETH+0.0096%1h2,739.8+0.034%$113.1M$431.1M50xas long as short
Lighter RH ETH+0.0096%1h2,740.9+0.074%$23.5M$103.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,740.7+0.065%—$31.0M500xas long as short
MEXC ETH_USDT+0.0096%8h2,738.7−0.007%$1.55B$2.55B500xas long as short
Aevo ETH-PERP+0.0096%1h2,737.7−0.044%$4.9M$155K20xas long as short
Injective ETH/USDC PERP+0.0096%1h2,737.1−0.065%$117K$22.5M52xas long as short
Binance ETHUSDT+0.0096%8h2,739.7+0.029%$6.36B$15.90B150xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,743.7+0.176%$15.7M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,738.7−0.007%$504K$3.3M50xas long as short
Nado ETH-PERP+0.0100%1h2,739+0.003%$13.7M$104.4M50xas long as short
Hyperliquid ETH+0.0100%1h2,741+0.077%$3.11B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,740.1+0.045%$31.9M$334.2M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,738.7−0.007%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,739.5+0.022%$1.5M$15.9M25xas long as short
Bulk ETH-USD+0.0100%1h2,739.7+0.029%$171.0M$325.1M25xas long as short
Gate ETH_USDT+0.0100%8h2,739.3+0.016%$3.34B$8.86B200xas long as short
Bitget ETHUSDT+0.0100%8h2,740.1+0.045%$2.07B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,739.7+0.031%$15.2M$40.6M50xas long as short
Variational Omni ETH+0.0100%8h2,739.1+0.009%$133.8M$322.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,739+0.004%$184.2M$671.6M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,737.2−0.062%$159.2M$86.9M50xas long as short
StandX ETH-USD+0.0100%1h2,740.2+0.048%$21.1M$69.1M40xas long as short
Vest ETH-PERP+0.0100%1h2,740.1+0.046%—$844K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,740.3+0.052%$11.2M$9.3M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,740.2+0.048%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,741.9+0.112%$41.4M$29.9M15xas long as short
SunX ETH-USDT+0.0100%8h2,737.8−0.039%$959K$11.2M100xas long as short
Extended ETH-USD+0.0104%1h2,739.2+0.013%$30.6M$72.8M50xas long as short
Aftermath Perps ETHUSD+0.0106%1h2,739.6+0.025%$30K$20K20xas long as short
RISEx ETH/USDC+0.0107%1h2,739.5+0.023%$5.6M$11.7M25xas long as short
Coinbase International ETH-PERP-INTX+0.0120%1h2,740.9+0.073%$51.1M$4.28B50xas long as short
Kraken Futures PF_ETHUSD+0.0153%1h2,740.7+0.067%$83.5M$314.9M100xas long as short
Orderly PERP_ETH_USDC+0.0201%8h2,742+0.113%$32.2M$11.7M100xas long as short
Reya ETHRUSDPERP+0.0213%1h2,738−0.033%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0280%1h2,740.9+0.073%$246K$1.4M20xas long as short
BloFin ETH-USDT+0.0386%8h2,739.1+0.008%$282.5M$175.7M150xas long as short