ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0140%/8h= +15.3% APRnext payment +$0.18 per $10,000 · paid last 24h +0.030%

Price spread now: Hibachi against Nado+0.046%7-day average +0.013% · 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−$25as in the Price arb table

costs, in and out, $10k−$280.280% of the position

Long on Nado Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.043%−$4 on $10k

Price spread, last 7 days−0.015%−$2 · spread now +0.046%, 7d avg +0.013%

Together, before fees−0.058%+ Points / potential airdropNado: Active · Hibachi: Active · farm board−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Hibachi is 0.033% dearer against Nado than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ETH-PERP	2,731.5	0.0100	pay 0.0012% / 1h	18m 39s	$13.9M	$104.6M	50x
Short	Hibachi ETH/USDT-P	2,732.8	0.0240	get 0.0030% / 1h	18m 39s	$245K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against Nado. 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 NadobpFee HibachibpOrdersPrice spread, now +0.046%Rate

Funding earned: $29.4
Price spread: +0.046% → +0.013%: $3.34
Slippage, 4 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: $4.74
Costs to cover: 0.280%
Break-even: 5.9 days

Slippage from Nado: live order book, 6 min ago; Hibachi: live order book, just now.

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 Nado live order book, 6 min ago	0.18 bp	3.7 bp −$4	3.7 bp −$37	5.3 bp −$529	13.6 bp −$6,786
Sell Hibachi live order book, just now	0.95 bp	12.9 bp −$13	20.1 bp −$201	doesn't fit	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	−0.0335%	43m	2,729.7	−0.068%	$297K	$5.6M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,731	−0.019%	$5K	$1K	50x	as long as short
HTX ETH-USDT	−0.0015%	8h	2,729.5	−0.073%	$1.05B	$1.20B	200x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,730.2	−0.047%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,731.7	+0.007%	$817K	$2.9M	25x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,731.1	−0.015%	$6.4M	$685.0M	4.9x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,730.4	−0.039%	$28.0M	—	200x	as long as short
dYdX ETH-USD	+0.0007%	1h	2,731	−0.018%	$10.7M	$42.1M	50x	as long as short
Bullet ETH-USD	+0.0026%	1h	2,729.7	−0.067%	$178K	$1.7M	20x	as long as short
BingX ETH-USDT	+0.0030%	8h	2,729.2	−0.086%	—	$1.14B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0034%	8h	2,729.2	−0.085%	$2.36B	$4.38B	150x	as long as short
01 Exchange ETHUSD	+0.0048%	1h	2,730.9	−0.022%	$187K	$814K	50x	as long as short
KuCoin ETHUSDTM	+0.0065%	8h	2,729.9	−0.060%	$377.3M	$574.8M	100x	as long as short
SunX ETH-USDT	+0.0066%	8h	2,729	−0.091%	$957K	$11.2M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0072%	1h	2,731.9	+0.012%	$258.6M	$201.6M	50x	as long as short
OKX ETH-USDT-SWAP	+0.0075%	8h	2,729.3	−0.082%	$1.67B	$10.75B	100x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,727.7	−0.139%	$4.9M	$155K	20x	as long as short
Aster ETHUSDT	+0.0080%	8h	2,729.8	−0.063%	$250.8M	$840.1M	200x	as long as short
SoDEX ETH-USD	+0.0083%	1h	2,730.6	−0.033%	$54.4M	$187.8M	40x	as long as short
Phemex ETHUSDT	+0.0085%	8h	2,731	−0.018%	$264.7M	$64.9M	150x	as long as short
ApeX Omni ETHUSDT	+0.0085%	1h	2,730.9	−0.022%	$8.6M	$31.1M	100x	as long as short
MEXC ETH_USDT	+0.0087%	8h	2,730	−0.056%	$1.55B	$2.57B	500x	as long as short
Binance ETHUSDT	+0.0088%	8h	2,730	−0.056%	$6.33B	$15.94B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,730.1	−0.053%	$112.3M	$434.9M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,731.2	−0.011%	$23.4M	$104.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,731.8	+0.012%	—	$31.0M	500x	as long as short
Injective ETH/USDC PERP	+0.0096%	1h	2,731.2	−0.011%	$117K	$22.5M	52x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,729.5	−0.074%	$500K	$3.4M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,730.4	−0.040%	$15.5M	$8.0M	50x	as long as short
Nado ETH-PERPlong	+0.0100%	1h	2,731.5	long leg	$13.9M	$104.6M	50x
Hyperliquid ETH	+0.0100%	1h	2,731.6	+0.003%	$3.09B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,730.6	−0.033%	$31.9M	$334.6M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,729.4	−0.077%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,730.1	−0.051%	$1.5M	$16.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,728.2	−0.120%	$169.5M	$307.4M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,729.4	−0.078%	$3.33B	$8.93B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,729.4	−0.078%	$2.07B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,730.7	−0.029%	$14.9M	$41.3M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,730.3	−0.043%	$134.3M	$322.7M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,729	−0.091%	$183.6M	$672.3M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,731.4	−0.003%	$158.9M	$86.9M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,730.7	−0.030%	$21.0M	$69.8M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,731.4	−0.005%	—	$845K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,731.8	+0.011%	$11.2M	$9.4M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,730.7	−0.031%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,732.2	+0.024%	$41.0M	$29.9M	15x	as long as short
Extended ETH-USD	+0.0104%	1h	2,728.4	−0.113%	$30.5M	$73.4M	50x	as long as short
RISEx ETH/USDC	+0.0107%	1h	2,730	−0.057%	$5.6M	$11.8M	25x	as long as short
Aftermath Perps ETHUSD	+0.0108%	1h	2,731.4	−0.002%	$30K	$20K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,732.4	+0.034%	$50.6M	$4.28B	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0153%	1h	2,731.8	+0.011%	$83.6M	$315.9M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0192%	8h	2,732.6	+0.039%	$32.1M	$11.6M	100x	as long as short
Reya ETHRUSDPERP	+0.0209%	1h	2,729.5	−0.072%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-Pshort	+0.0240%	1h	2,732.8	+0.046%	$245K	$1.4M	20x
BloFin ETH-USDT	+0.0350%	8h	2,730.6	−0.033%	$283.0M	$174.8M	150x	as long as short