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Funding arb · Price arb /

ETH

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Alert: spread
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Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h −0.002%
Price spread now: Coinbase International against Pacifica+0.035%7-day average +0.011% · you sell dearer than you buy
Net, funding: paid 7d − costs−$13as in the Funding arb table
Net, price: spread back to 7d avg − costs−$16as in the Price arb table
costs, in and out, $10k−$190.186% of the position
Long on PacificaShort on Coinbase International
What this pair did over the last
the charts below follow
Funding, last 7 days+0.059%+$6 on $10k
Price spread, last 3 days (all we have)−0.046%−$5 · spread now +0.035%, 7d avg +0.011%
Together, before fees+0.013%+ Points / potential airdropPacifica: Active · farm board+$1 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Coinbase International is 0.024% dearer against Pacifica than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.011%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPacifica ETH2,777.40.0100pay 0.0013% / 1h33m 48s$31.4M$297.6M50x
ShortCoinbase International ETH-PERP-INTX2,778.40.0104get 0.0013% / 1h33m 48s$60.3M$4.60B50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Coinbase International against Pacifica. 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
$0.84
Price spread: +0.035% → +0.011%
$2.35
Slippage, 4 orders
−$0.61
Fee Pacifica: 4 bp × 2 orders
−$8
Fee Coinbase International: 5 bp × 2 orders
−$10
Net
−$15.42
Costs to cover
0.186%
Break-even
135.5 days
Slippage from Pacifica: live order book, 5 min ago; Coinbase International: live order book, 5 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 Pacifica live order book, 5 min ago0.18 bp4.2 bp −$44.7 bp −$47doesn't fitdoesn't fit
Sell Coinbase International live order book, 5 min ago0.02 bp5.0 bp −$55.0 bp −$506.7 bp −$66619.3 bp −$9,641

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%43m2,776.5−0.033%$289K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,775.2−0.078%$5.8M$12.1M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,776.8−0.022%$5K$2K50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,777.1−0.011%$119K$22.5M52xas long as short
01 Exchange ETHUSD−0.0032%1h2,775.3−0.076%$169K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0030%1h2,777.3−0.004%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,778.7+0.046%$12.7M$45.5M50xas long as short
Phoenix ETH0.0000%1h2,779.8+0.086%$885K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,777.2−0.007%$22.4M—200xas long as short
BingX ETH-USDC+0.0015%8h2,777.40.000%—$17.4M—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phemex ETHUSDT+0.0017%8h2,776.7−0.026%$270.1M$68.6M150xas long as short
OKX ETH-USDT-SWAP+0.0020%8h2,777.5+0.003%$1.71B$11.84B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0027% / S +0.0009%1h2,777−0.013%$13.0M—200xas long as short
Aster ETHUSDT+0.0036%8h2,777.7+0.010%$256.5M$989.9M200xas long as short
Bullet ETH-USD+0.0040%1h2,774.9−0.089%$180K$1.7M20xas long as short
Nado ETH-PERP+0.0057%1h2,777−0.016%$14.2M$117.8M50xas long as short
Binance ETHUSDT+0.0061%8h2,777.6+0.005%$6.45B$17.11B150xas long as short
MEXC ETH_USDT+0.0061%8h2,778.1+0.024%$1.63B$2.66B500xas long as short
Aevo ETH-PERP+0.0064%1h2,775.8−0.056%$5.0M$636K20xas long as short
Bitget ETHUSDT+0.0072%8h2,777.7+0.012%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0073%8h2,778.2+0.030%$3.29B$9.59B200xas long as short
SoDEX ETH-USD+0.0089%1h2,776.9−0.018%$55.3M$228.8M40xas long as short
HTX ETH-USDT+0.0094%8h2,776.3−0.041%$1.08B$1.32B200xas long as short
Bybit ETHUSDT+0.0094%8h2,778+0.020%$2.52B$4.60B150xas long as short
Lighter ETH+0.0096%1h2,778.3+0.031%$115.1M$499.1M50xas long as short
Lighter RH ETH+0.0096%1h2,779.3+0.069%$25.4M$121.1M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,776.9−0.018%—$41.5M500xas long as short
KuCoin ETHUSDTM+0.0099%8h2,778.3+0.033%$426.7M$737.9M100xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,776.7−0.024%$16.0M$10.5M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,776.1−0.047%$480K$2.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,780.2+0.102%$3.19B$2.37B25xas long as short
Pacifica ETHlong+0.0100%1h2,777.4long leg$31.4M$297.6M50x
Ondo Perps ETH-USD.P+0.0100%1h2,776.2−0.043%$2.8M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,777.6+0.005%$2.8M$17.3M25xas long as short
Bulk ETH-USD+0.0100%1h2,781.3+0.141%$166.9M$248.1M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,777.7+0.010%$15.2M$44.5M50xas long as short
Variational Omni ETH+0.0100%8h2,774.6−0.101%$135.3M$322.5M—as long as short
edgeX ETHUSDC+0.0100%4h2,776.2−0.042%$179.9M$779.7M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,776.3−0.041%$161.5M$91.0M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,777.9+0.017%$8.7M$32.5M100xas long as short
StandX ETH-USD+0.0100%1h2,777.8+0.014%$21.4M$57.9M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,776−0.050%$10.8M$7.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,777.6+0.009%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,779.1+0.060%$42.7M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,776.4−0.037%$973K$14.0M100xas long as short
Vest ETH-PERP+0.0100%1h2,775.7−0.061%—$1.1M50xas long as short
Extended ETH-USD+0.0104%1h2,777.9+0.019%$31.6M$74.6M50xas long as short
Coinbase International ETH-PERP-INTXshort+0.0104%1h2,778.4+0.035%$60.3M$4.60B50x
Kalshi KXETHPERP+0.0117%8h2,777.40.000%$8.6M$674.3M4.9xas long as short
Deribit ETH-PERPETUAL+0.0117%1h2,778.7+0.047%$258.3M$222.0M50xas long as short
Orderly PERP_ETH_USDC+0.0137%8h2,779.3+0.068%$32.6M$12.0M100xas long as short
Hibachi ETH/USDT-P+0.0152%1h2,778.6+0.044%$279K$1.5M20xas long as short
Kraken Futures PF_ETHUSD+0.0169%1h2,778.4+0.036%$86.3M$330.6M100xas long as short
BloFin ETH-USDT+0.0181%8h2,777−0.016%$284.8M$194.5M150xas long as short
Reya ETHRUSDPERP+0.0190%1h2,774.5−0.106%$7.4M$1.2M25xas long as short