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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 16:00 UTC−0.0027%/8h= −3.0% APRnext payment −$0.27 per $10,000 · paid last 24h +0.007%
Price spread now: Aster against Phemex+0.016%7-day average +0.014% · you sell dearer than you buy
Net, funding: paid 7d − costs−$17as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$200.203% of the position
Long on PhemexShort on Aster
What this pair did over the last
the charts below follow
Funding, last 7 days+0.032%+$3 on $10k
Price spread, last 4 days (all we have)+0.100%+$10 · spread now +0.016%, 7d avg +0.014%
Together, before fees+0.131%+ Points / potential airdropAster: Stage 5 · farm board+$13 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex ETHUSDT2,741.30.0100pay 0.0100% / 8h6h 20m$263.8M$57.7M150x
ShortAster ETHUSDT2,741.70.0073get 0.0073% / 8h6h 20m$256.1M$741.8M200x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Aster against Phemex. 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
−$5.7
Price spread: +0.016% → +0.014%
$0.21
Slippage, 4 orders
−$0.29
Fee Phemex: 6 bp × 2 orders
−$12
Fee Aster: 4 bp × 2 orders
−$8
Net
−$25.77
Costs to cover
0.203%
Break-even
never at this rate
Slippage from Phemex: live order book, 7 min ago; Aster: 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 Phemex live order book, 7 min ago0.02 bp6.0 bp −$66.7 bp −$6711.3 bp −$1,125doesn't fit
Sell Aster live order book, 2 min ago0.02 bp4.2 bp −$44.8 bp −$486.9 bp −$69212.1 bp −$6,030

ETH on 54 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi ETH/USDT-P−0.0088%1h2,745.1+0.139%$235K$1.3M20xas long as short
Hotstuff ETH-PERP−0.0080%1h2,741.4+0.005%$5K$1K50xas long as short
ApeX Omni ETHUSDT−0.0069%1h2,740.4−0.033%$8.3M$29.8M100xas long as short
Bybit ETHUSDT−0.0032%8h2,741.6+0.012%$2.36B$3.93B150xas long as short
Phoenix ETH−0.0023%1h2,739.6−0.061%$805K$2.9M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,741.5+0.007%$12.0M—200xas long as short
Kalshi KXETHPERP0.0000%8h2,743.2+0.070%$7.0M$663.9M4.9xas long as short
Perpl ETH0.0000%43m2,743.8+0.094%$271K$5.1M8.3xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,741.4+0.003%$33.1M—200xas long as short
01 Exchange ETHUSD+0.0048%1h2,742.7+0.052%$195K$939K50xas long as short
Show all 54 exchanges
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Gate ETH_USDT+0.0054%8h2,741.3+0.003%$3.26B$7.87B200xas long as short
dYdX ETH-USD+0.0055%1h2,743.3+0.073%$14.8M$43.1M50xas long as short
OKX ETH-USDT-SWAP+0.0067%8h2,741.6+0.013%$1.66B$9.51B100xas long as short
Aster ETHUSDTshort+0.0073%8h2,741.7+0.016%$256.1M$741.8M200x
MEXC ETH_USDT+0.0078%8h2,741.3+0.003%$1.59B$2.51B500xas long as short
Binance ETHUSDT+0.0079%8h2,741.7+0.014%$6.38B$14.57B150xas long as short
Kraken Futures PF_ETHUSD+0.0080%1h2,741.8+0.019%$82.0M$282.4M100xas long as short
Aevo ETH-PERP+0.0080%1h2,739−0.081%$4.9M$208K20xas long as short
KuCoin ETHUSDTM+0.0083%8h2,741.2−0.004%$364.8M$459.9M100xas long as short
Aftermath Perps ETHUSD+0.0088%1h2,740.7−0.019%$30K$8K20xas long as short
SoDEX ETH-USD+0.0096%1h2,741.3+0.001%$61.7M$121.8M40xas long as short
Lighter ETH+0.0096%1h2,741.2−0.001%$113.9M$389.7M50xas long as short
Lighter RH ETH+0.0096%1h2,742.6+0.049%$23.8M$98.5M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,743.7+0.089%—$23.8M500xas long as short
Katana Perps ETH-USD+0.0100%8h2,741.7+0.016%$506K$3.5M50xas long as short
Nado ETH-PERP+0.0100%1h2,743+0.063%$14.6M$97.7M50xas long as short
Pacifica ETH+0.0100%1h2,741.8+0.018%$32.1M$326.0M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,740.6−0.024%$2.8M$14.3M25xas long as short
Arcus ETH-USD+0.0100%1h2,742.4+0.042%$1.5M$14.6M25xas long as short
Bulk ETH-USD+0.0100%1h2,740.6−0.024%$163.1M$330.7M25xas long as short
Bitget ETHUSDT+0.0100%8h2,741.30.000%$2.11B$2.38B150xas long as short
BingX ETH-USDC+0.0100%8h2,740.6−0.026%—$18.5M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,741.2−0.004%$14.9M$37.2M50xas long as short
Variational Omni ETH+0.0100%8h2,740.5−0.029%$132.1M$302.2M—as long as short
edgeX ETHUSDC+0.0100%4h2,738.5−0.100%$185.9M$632.6M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,740.4−0.032%$159.3M$73.0M50xas long as short
StandX ETH-USD+0.0100%1h2,744.7+0.125%$21.1M$72.6M40xas long as short
Vest ETH-PERP+0.0100%1h2,744.5+0.119%—$351K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,744.3+0.111%$11.2M$8.7M50xas long as short
Bullet ETH-USD+0.0100%1h2,741.5+0.008%$177K$1.7M20xas long as short
SunX ETH-USDT+0.0100%8h2,741.2−0.002%$945K$9.2M100xas long as short
HTX ETH-USDT+0.0100%8h2,742.3+0.037%$1.05B$1.09B200xas long as short
Phemex ETHUSDTlong+0.0100%8h2,741.3long leg$263.8M$57.7M150x
Extended ETH-USD+0.0104%1h2,740.4−0.031%$30.4M$67.0M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,742.4+0.043%$45.5M$3.94B50xas long as short
Hyperliquid ETH+0.0120%1h2,744+0.100%$3.15B$1.77B25xas long as short
Deribit ETH-PERPETUAL+0.0126%1h2,742.6+0.047%$267.3M$193.9M50xas long as short
BloFin ETH-USDT+0.0149%8h2,741.4+0.006%$282.7M$157.4M150xas long as short
Reya ETHRUSDPERP+0.0161%1h2,743.7+0.090%$7.3M$870K25xas long as short
RISEx ETH/USDC+0.0167%1h2,742.7+0.052%$5.6M$10.7M25xas long as short
Orderly PERP_ETH_USDC+0.0175%8h2,743.5+0.081%$32.3M$10.1M100xas long as short
Paradex ETH-USD-PERP+0.0294%8h2,745.2+0.145%$15.8M$6.5M50xas long as short
Injective ETH/USDC PERP+0.0308%1h2,747.3+0.220%$118K$23.9M52xas long as short
Bluefin ETH-PERP+0.1129%1h2,742+0.025%$20K$15K25xas long as short