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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 09:00 UTC+0.0021%/8h= +2.3% APRnext payment +$0.03 per $10,000 · paid last 24h +0.003%
Price spread now: Deribit against Pacifica+0.132%7-day average +0.018% · you sell dearer than you buy
Net, funding: paid 7d − costs−$16as in the Funding arb table
Net, price: spread back to 7d avg − costs−$5as in the Price arb table
costs, in and out, $10k−$160.161% of the position
Long on PacificaShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 7 days+0.004%$0 on $10k
Price spread, last 4 days (all we have)−0.349%−$35 · spread now +0.132%, 7d avg +0.018%
Together, before fees−0.345%+ Points / potential airdropPacifica: Active · farm board−$34 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Deribit is 0.114% dearer against Pacifica than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.018%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPacifica ETH2,746.80.0100pay 0.0013% / 1h12m 26s$32.2M$328.1M50x
ShortDeribit ETH-PERPETUAL2,750.50.0121get 0.0015% / 1h12m 26s$266.0M$214.4M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit 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
$4.41
Price spread: +0.132% → +0.018%
$11.4
Slippage, 4 orders
−$1.13
Fee Pacifica: 4 bp × 2 orders
−$8
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
−$0.33
Costs to cover
0.161%
Break-even
7.5 days
Slippage from Pacifica: live order book, 2 min ago; Deribit: live order book, 2 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, 2 min ago0.18 bp4.2 bp −$44.4 bp −$44doesn't fitdoesn't fit
Sell Deribit live order book, 2 min ago0.36 bp3.9 bp −$44.4 bp −$4410.6 bp −$1,05721.8 bp −$10.9K

ETH on 54 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−0.0112%43m2,744.4−0.088%$276K$5.3M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,744.5−0.085%$5K$1K50xas long as short
Bybit ETHUSDT−0.0057%8h2,750.1+0.119%$2.35B$4.25B150xas long as short
Phemex ETHUSDT−0.0028%8h2,743.7−0.115%$264.0M$61.8M150xas long as short
BloFin ETH-USDT−0.0026%8h2,744.2−0.098%$279.5M$174.1M150xas long as short
Phoenix ETH−0.0012%1h2,741.5−0.194%$811K$3.0M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,748.6+0.064%$12.0M—200xas long as short
dYdX ETH-USD0.0000%1h2,745.6−0.045%$11.0M$42.0M50xas long as short
Kalshi KXETHPERP0.0000%8h2,744.6−0.082%$6.6M$663.9M4.9xas long as short
Hibachi ETH/USDT-P0.0000%1h2,746.3−0.019%$242K$1.4M20xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,748.8+0.069%$33.2M—200xas long as short
01 Exchange ETHUSD+0.0024%1h2,747.3+0.017%$180K$917K50xas long as short
HTX ETH-USDT+0.0038%8h2,744−0.103%$1.05B$1.18B200xas long as short
Gate ETH_USDT+0.0040%8h2,748.4+0.055%$3.28B$8.43B200xas long as short
SoDEX ETH-USD+0.0066%1h2,748.9+0.075%$54.8M$160.0M40xas long as short
ApeX Omni ETHUSDT+0.0067%1h2,743.3−0.128%$8.3M$30.4M100xas long as short
Aster ETHUSDT+0.0070%8h2,748.8+0.072%$254.0M$798.6M200xas long as short
OKX ETH-USDT-SWAP+0.0072%8h2,748.7+0.068%$1.66B$10.25B100xas long as short
MEXC ETH_USDT+0.0080%8h2,748.5+0.059%$1.59B$2.61B500xas long as short
Aevo ETH-PERP+0.0080%1h2,747.4+0.020%$4.9M$199K20xas long as short
Binance ETHUSDT+0.0080%8h2,748.2+0.051%$6.35B$15.42B150xas long as short
KuCoin ETHUSDTM+0.0085%8h2,748+0.041%$369.6M$491.7M100xas long as short
Bullet ETH-USD+0.0092%1h2,748.4+0.057%$178K$1.7M20xas long as short
SunX ETH-USDT+0.0093%8h2,749.3+0.091%$950K$10.1M100xas long as short
Lighter ETH+0.0096%1h2,746.1−0.028%$113.7M$407.6M50xas long as short
Lighter RH ETH+0.0096%1h2,747.5+0.022%$23.8M$98.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,747.9+0.039%—$23.8M500xas long as short
Katana Perps ETH-USD+0.0100%8h2,746.3−0.020%$521K$3.6M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,750.7+0.140%$15.5M$6.8M50xas long as short
Nado ETH-PERP+0.0100%1h2,747.4+0.019%$14.5M$99.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,749.8+0.108%$3.13B$1.97B25xas long as short
Pacifica ETHlong+0.0100%1h2,746.8long leg$32.2M$328.1M50x
Ondo Perps ETH-USD.P+0.0100%1h2,745.5−0.049%$2.7M$16.0M25xas long as short
Arcus ETH-USD+0.0100%1h2,746.80.000%$1.6M$15.4M25xas long as short
Bitget ETHUSDT+0.0100%8h2,748.9+0.075%$2.12B$2.55B150xas long as short
BingX ETH-USDC+0.0100%8h2,747.5+0.025%—$18.5M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,744.3−0.092%$15.0M$38.5M50xas long as short
Variational Omni ETH+0.0100%8h2,743.6−0.119%$132.5M$307.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,743.4−0.125%$186.1M$690.5M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,744.4−0.089%$159.6M$77.6M50xas long as short
StandX ETH-USD+0.0100%1h2,746−0.031%$21.1M$71.4M40xas long as short
Vest ETH-PERP+0.0100%1h2,748.8+0.070%—$415K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,748.7+0.068%$11.3M$9.1M50xas long as short
Bulk ETH-USD+0.0100%1h2,738.5−0.303%$165.3M$346.3M25xas long as short
Extended ETH-USD+0.0104%1h2,748.3+0.054%$30.4M$68.8M50xas long as short
Kraken Futures PF_ETHUSD+0.0104%1h2,749.5+0.095%$82.5M$292.7M100xas long as short
Aftermath Perps ETHUSD+0.0118%1h2,741.8−0.182%$30K$12K20xas long as short
Coinbase International ETH-PERP-INTX+0.0120%1h2,744.2−0.098%$45.6M$4.14B50xas long as short
Deribit ETH-PERPETUALshort+0.0121%1h2,750.5+0.132%$266.0M$214.4M50x
RISEx ETH/USDC+0.0137%1h2,747.1+0.011%$5.6M$11.3M25xas long as short
Reya ETHRUSDPERP+0.0169%1h2,742.7−0.152%$7.3M$936K25xas long as short
Orderly PERP_ETH_USDC+0.0180%8h2,751.6+0.172%$32.4M$10.6M100xas long as short
Injective ETH/USDC PERP+0.0253%1h2,748.6+0.064%$118K$22.9M52xas long as short
Bluefin ETH-PERP+0.0776%1h2,749.9+0.113%$20K$15K25xas long as short