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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+0.0089%/8h= +9.8% APRpaid last 24h +0.028%
Price spread now: Orderly against Pacifica+0.121%7-day average +0.060% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on PacificaShort on Orderly
What this pair did over the last
the charts below follow
Funding, last 7 days+0.238%+$24 on $10k
Price spread, last 4 days (all we have)−0.310%−$31 · spread now +0.121%, 7d avg +0.060%
Together, before fees−0.072%+ Points / potential airdropPacifica: Active · farm board−$7 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Orderly is 0.060% dearer against Pacifica than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.060%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPacifica ETH2,741.70.0100pay 0.0013% / 1h34m 53s$31.6M$335.1M50x
ShortOrderly PERP_ETH_USDC2,7450.0189get 0.0189% / 8h5h 34m$32.3M$11.3M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Orderly 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
$18.75
Price spread: +0.121% → +0.060%
$6.04
Slippage, 4 orders
no order book: not counted
Fee Pacifica: 4 bp × 2 orders
−$8
Fee Orderly: 3 bp × 2 orders
−$6
Net
$10.79
Costs to cover
0.140%
Break-even
3.0 days
Slippage unknown: Pacifica: live order book, 4 min ago; Orderly: 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 Pacifica live order book, 4 min ago0.18 bp4.2 bp −$44.9 bp −$49doesn't fitdoesn't fit
Sell Orderly no order-book sample—————
Orderly: 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%1h2,741.5−0.007%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,743.1+0.052%$118K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,743+0.049%$12.1M—200xas long as short
dYdX ETH-USD0.0000%1h2,742+0.012%$10.8M$41.8M50xas long as short
Perpl ETH0.0000%43m2,741.9+0.007%$304K$5.6M8.3xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,743.1+0.051%$22.2M—200xas long as short
Phoenix ETH+0.0017%1h2,741.5−0.007%$846K$2.9M25xas long as short
01 Exchange ETHUSD+0.0032%1h2,741.6−0.003%$182K$916K50xas long as short
BingX ETH-USDC+0.0050%8h2,742.9+0.045%—$18.5M—as long as short
ApeX Omni ETHUSDT+0.0055%1h2,738.9−0.100%$8.8M$30.9M100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
KuCoin ETHUSDTM+0.0063%8h2,743.3+0.058%$383.3M$595.0M100xas long as short
OKX ETH-USDT-SWAP+0.0064%8h2,741.4−0.011%$1.70B$10.57B100xas long as short
RISEx ETH/USDC+0.0077%1h2,741.8+0.006%$5.6M$11.2M25xas long as short
Bullet ETH-USD+0.0079%1h2,742.6+0.032%$181K$1.7M20xas long as short
Aster ETHUSDT+0.0079%8h2,742.6+0.032%$252.3M$841.2M200xas long as short
MEXC ETH_USDT+0.0088%8h2,743.3+0.060%$1.56B$2.54B500xas long as short
Aevo ETH-PERP+0.0088%1h2,740.5−0.042%$4.9M$155K20xas long as short
Binance ETHUSDT+0.0089%8h2,742.6+0.034%$6.37B$15.70B150xas long as short
HTX ETH-USDT+0.0095%8h2,742.4+0.025%$1.06B$1.18B200xas long as short
Lighter ETH+0.0096%1h2,743.2+0.056%$112.7M$433.1M50xas long as short
Lighter RH ETH+0.0096%1h2,744.9+0.117%$24.6M$103.8M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,742.2+0.020%—$30.7M500xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,744.5+0.102%$58.6M$4.27B50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,744.9+0.118%$16.0M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,741.2−0.018%$467K$3.0M50xas long as short
Nado ETH-PERP+0.0100%1h2,741.9+0.008%$13.9M$105.5M50xas long as short
Hyperliquid ETH+0.0100%1h2,743.5+0.066%$3.12B$2.06B25xas long as short
Pacifica ETHlong+0.0100%1h2,741.7long leg$31.6M$335.1M50x
Bybit ETHUSDT+0.0100%8h2,741.4−0.009%$2.45B$4.17B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,740.4−0.047%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,741.7+0.001%$2.7M$16.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,741.5−0.006%$164.1M$300.8M25xas long as short
Gate ETH_USDT+0.0100%8h2,742.8+0.040%$3.39B$8.72B200xas long as short
Bitget ETHUSDT+0.0100%8h2,741.1−0.020%$2.08B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,742.1+0.015%$15.0M$40.9M50xas long as short
Variational Omni ETH+0.0100%8h2,740.7−0.036%$132.6M$333.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,737.1−0.167%$181.9M$690.6M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,740−0.063%$159.3M$83.6M50xas long as short
StandX ETH-USD+0.0100%1h2,740.1−0.058%$21.2M$68.2M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,743.8+0.077%$11.0M$8.8M50xas long as short
Derive ETH-PERP+0.0100%1h2,744.8+0.113%$41.5M$29.6M15xas long as short
SunX ETH-USDT+0.0100%8h2,741.2−0.016%$962K$11.5M100xas long as short
SoDEX ETH-USD+0.0100%1h2,743+0.048%$54.6M$187.5M40xas long as short
Phemex ETHUSDT+0.0100%8h2,742.8+0.040%$266.8M$65.0M150xas long as short
Vest ETH-PERP+0.0100%1h2,742.6+0.035%—$819K50xas long as short
Extended ETH-USD+0.0104%1h2,742.6+0.035%$30.6M$72.4M50xas long as short
Bluefin ETH-PERP+0.0107%1h2,742.8+0.041%$21K$20K25xas long as short
Aftermath Perps ETHUSD+0.0134%1h2,741.4−0.010%$30K$20K20xas long as short
Deribit ETH-PERPETUAL+0.0155%1h2,744.5+0.101%$258.8M$196.1M50xas long as short
Kalshi KXETHPERP+0.0157%8h2,742.5+0.030%$7.6M$669.4M4.9xas long as short
Orderly PERP_ETH_USDCshort+0.0189%8h2,745+0.121%$32.3M$11.3M100x
Kraken Futures PF_ETHUSD+0.0221%1h2,744.1+0.090%$87.1M$310.2M100xas long as short
Reya ETHRUSDPERP+0.0226%1h2,742.3+0.023%$7.3M$1.1M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,741.4−0.009%$252K$1.4M20xas long as short
BloFin ETH-USDT+0.0251%8h2,743+0.050%$285.0M$182.0M150xas long as short