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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 03:00 UTC+0.0127%/8h= +13.9% APRnext payment +$0.16 per $10,000 · paid last 24h +0.016%
Price spread now: Reya against Nado−0.014%7-day average −0.044% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on NadoShort on Reya
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.041%+$4 on $10k
Price spread, last 7 days−0.012%−$1 · spread now −0.014%, 7d avg −0.044%
Together, before fees+0.029%+ Points / potential airdropNado: Active · Reya: Active · farm board+$3 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 Reya is 0.030% dearer against Nado than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.044%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongNado ETH-PERP2,744.10.0100pay 0.0012% / 1h29m 23s$13.9M$105.4M50x
ShortReya ETHRUSDPERP2,743.70.0227get 0.0028% / 1h29m 23s$7.3M$1.1M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Reya against Nado. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$26.65
Price spread: −0.014% → −0.044%
$2.96
Slippage, 4 orders
no order book: not counted
Fee Nado: 3.5 bp × 2 orders
−$7
Fee Reya: 3 bp × 2 orders
−$6
Net
$16.61
Costs to cover
0.130%
Break-even
2.6 days
Slippage unknown: Nado: live order book, 5 min ago; Reya: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Nado live order book, 5 min ago0.18 bp3.7 bp −$43.7 bp −$375.2 bp −$51613.3 bp −$6,648
Sell Reya no order-book sample—————
Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Hotstuff ETH-PERP−0.0080%1h2,744.7+0.024%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,743.1−0.035%$118K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,743.9−0.007%$12.0M—200xas long as short
dYdX ETH-USD0.0000%1h2,745.2+0.043%$10.8M$41.8M50xas long as short
Perpl ETH0.0000%43m2,744−0.002%$305K$5.6M8.3xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0008%1h2,743.9−0.004%$24.6M—200xas long as short
Phoenix ETH+0.0017%1h2,745.3+0.045%$848K$2.9M25xas long as short
01 Exchange ETHUSD+0.0032%1h2,744.5+0.016%$182K$876K50xas long as short
ApeX Omni ETHUSDT+0.0045%1h2,746.4+0.084%$8.9M$30.9M100xas long as short
BingX ETH-USDT+0.0052%8h2,743.6−0.018%—$1.15B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0064%8h2,743.3−0.029%$1.70B$10.57B100xas long as short
KuCoin ETHUSDTM+0.0066%8h2,744.2+0.003%$382.5M$578.3M100xas long as short
RISEx ETH/USDC+0.0077%1h2,744.5+0.016%$5.7M$11.2M25xas long as short
Bullet ETH-USD+0.0081%1h2,743.6−0.017%$182K$1.7M20xas long as short
Aster ETHUSDT+0.0086%8h2,744.3+0.007%$252.8M$841.2M200xas long as short
Aevo ETH-PERP+0.0088%1h2,741.6−0.090%$4.9M$155K20xas long as short
MEXC ETH_USDT+0.0092%8h2,744−0.002%$1.56B$2.54B500xas long as short
Binance ETHUSDT+0.0094%8h2,743.6−0.016%$6.38B$15.68B150xas long as short
Lighter ETH+0.0096%1h2,744.5+0.015%$112.8M$433.9M50xas long as short
Lighter RH ETH+0.0096%1h2,745.9+0.066%$24.6M$103.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,744.2+0.007%—$30.7M500xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,745+0.035%$58.8M$4.27B50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,749+0.181%$16.0M$7.9M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,744−0.002%$469K$3.0M50xas long as short
Nado ETH-PERPlong+0.0100%1h2,744.1long leg$13.9M$105.4M50x
Hyperliquid ETH+0.0100%1h2,746.3+0.082%$3.12B$2.06B25xas long as short
Pacifica ETH+0.0100%1h2,744.9+0.031%$31.6M$334.4M50xas long as short
Bybit ETHUSDT+0.0100%8h2,743.2−0.032%$2.45B$4.17B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,743.2−0.031%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,744.6+0.020%$2.7M$16.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,741.5−0.092%$164.1M$300.8M25xas long as short
Gate ETH_USDT+0.0100%8h2,743.7−0.012%$3.39B$8.73B200xas long as short
Bitget ETHUSDT+0.0100%8h2,744.4+0.014%$2.08B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,743.3−0.027%$15.0M$40.9M50xas long as short
Variational Omni ETH+0.0100%8h2,745.6+0.057%$132.9M$330.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,743.5−0.020%$182.3M$691.1M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,746.2+0.077%$159.7M$84.1M50xas long as short
StandX ETH-USD+0.0100%1h2,745.6+0.056%$21.2M$67.7M40xas long as short
Vest ETH-PERP+0.0100%1h2,745.3+0.044%—$819K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,745.2+0.042%$11.0M$8.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,744.9+0.032%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,745.7+0.061%$41.5M$29.6M15xas long as short
SunX ETH-USDT+0.0100%8h2,743.4−0.023%$962K$11.5M100xas long as short
SoDEX ETH-USD+0.0100%1h2,743.8−0.009%$54.6M$187.5M40xas long as short
HTX ETH-USDT+0.0100%8h2,743.7−0.012%$1.06B$1.18B200xas long as short
Phemex ETHUSDT+0.0100%8h2,743.9−0.007%$266.8M$65.0M150xas long as short
Extended ETH-USD+0.0104%1h2,743.1−0.034%$30.6M$72.3M50xas long as short
Aftermath Perps ETHUSD+0.0128%1h2,744.2+0.005%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0159%8h2,746.5+0.089%$7.4M$669.8M4.9xas long as short
Deribit ETH-PERPETUAL+0.0169%1h2,745.3+0.044%$259.8M$197.4M50xas long as short
Orderly PERP_ETH_USDC+0.0191%8h2,745.5+0.052%$32.3M$11.3M100xas long as short
Kraken Futures PF_ETHUSD+0.0221%1h2,744.7+0.022%$86.9M$310.0M100xas long as short
Reya ETHRUSDPERPshort+0.0227%1h2,743.7−0.014%$7.3M$1.1M25x
Hibachi ETH/USDT-P+0.0248%1h2,746.4+0.084%$253K$1.4M20xas long as short
BloFin ETH-USDT+0.0330%8h2,746.8+0.100%$285.3M$182.2M150xas long as short