data as of
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Funding arb /

ETH

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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding spread now, next payment 15:00 UTC−0.0038%/8h
paid, last 24h+0.010%paid, last 7 days+0.109%to open and close $10k−$24
Long on PhemexShort on Backpack
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex ETHUSDT2,716.30.0037pay 0.0037% / 8h1h 52m$262.7M$65.6M150x
ShortBackpack ETH_USDC_PERP2,714.2−0.0002pay 0.0000% / 1h52m 14s$15.4M$38.0M50x

Funding history

latest
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Funding on every exchange

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latest

Profit calculator

Funding earned
−$8.04
Slippage, 4 orders
−$1.62
Fee Phemex: 6 bp × 2 orders
−$12
Fee Backpack: 5 bp × 2 orders
−$10
Net
−$31.66
Break-even
never at this rate
Slippage from Phemex: live order book, 3 min ago; Backpack: live order book, 3 min ago.

Price risk

price view
Price gap now
−0.078%
Avg gap 7d
−0.005%
A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

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, 3 min ago0.59 bp6.6 bp −$77.0 bp −$7010.9 bp −$1,09416.5 bp −$8,246
Sell Backpack live order book, 3 min ago0.22 bp5.2 bp −$55.5 bp −$5517.2 bp −$1,719doesn't fit

ETH on 54 venues

lowest funding first. Swap a leg.
ExchangeFunding /8hEveryOIVol 24hMax lev
Injective ETH/USDC PERP−0.0112%1h$117K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h$5K$1K50xas long as short
Gate ETH_USDT−0.0041%8h$3.67B$8.23B200xas long as short
Backpack ETH_USDC_PERPshort−0.0002%1h$15.4M$38.0M50x
Kalshi KXETHPERP0.0000%8h$4.2M$475.7M4.9xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h$22.0M—200xas long as short
GMX ETH/USD [ETH-USDC]L +0.0016% / S +0.0014%1h$11.6M—200xas long as short
OKX ETH-USDT-SWAP+0.0018%8h$1.71B$10.52B100xas long as short
SoDEX ETH-USD+0.0022%1h$55.3M$139.7M40xas long as short
Phemex ETHUSDTlong+0.0037%8h$262.7M$65.6M150x
Show all 54 venues
ExchangeFunding /8hEveryOIVol 24hMax lev
Bullet ETH-USD+0.0053%1h$181K$1.9M20xas long as short
Coinbase International ETH-PERP-INTX+0.0056%1h$61.1M$4.64B50xas long as short
Phoenix ETH+0.0070%1h$1.4M$2.4M25xas long as short
Bitget ETHUSDT+0.0081%8h$2.12B$2.95B150xas long as short
Lighter ETH+0.0096%1h$118.2M$468.1M50xas long as short
Lighter RH ETH+0.0096%1h$25.4M$114.2M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h—$41.5M500xas long as short
Aevo ETH-PERP+0.0096%1h$4.9M$781K20xas long as short
Paradex ETH-USD-PERP+0.0099%8h$13.6M$11.1M50xas long as short
Katana Perps ETH-USD+0.0100%8h$465K$1.8M50xas long as short
Nado ETH-PERP+0.0100%1h$18.7M$110.2M50xas long as short
Aster ETHUSDT+0.0100%8h$266.4M$802.8M200xas long as short
Pacifica ETH+0.0100%1h$30.9M$185.4M50xas long as short
Binance ETHUSDT+0.0100%8h$6.55B$14.43B150xas long as short
Bybit ETHUSDT+0.0100%8h$2.41B$4.25B150xas long as short
Arcus ETH-USD+0.0100%1h$2.3M$13.6M25xas long as short
MEXC ETH_USDT+0.0100%8h$1.52B$2.31B500xas long as short
KuCoin ETHUSDTM+0.0100%8h$390.4M$666.4M100xas long as short
BingX ETH-USDT+0.0100%8h—$1.05B—as long as short
Variational Omni ETH+0.0100%8h$155.1M$289.1M—as long as short
edgeX ETHUSDC+0.0100%4h$192.6M$661.0M100xas long as short
ApeX Omni ETHUSDT+0.0100%1h$7.6M$27.3M100xas long as short
StandX ETH-USD+0.0100%1h$20.9M$55.3M40xas long as short
Vest ETH-PERP+0.0100%1h—$1.2M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h$10.7M$4.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h$19K$24K25xas long as short
SunX ETH-USDT+0.0100%8h$938K$13.9M100xas long as short
HTX ETH-USDT+0.0100%8h$1.08B$1.13B200xas long as short
Bulk ETH-USD+0.0100%1h$150.8M$274.0M25xas long as short
Extended ETH-USD+0.0104%1h$32.7M$72.4M50xas long as short
Perpl ETH+0.0112%43m$169K$5.2M8.3xas long as short
Reya ETHRUSDPERP+0.0147%1h$7.3M$911K25xas long as short
Deribit ETH-PERPETUAL+0.0166%1h$259.5M$208.7M50xas long as short
Aftermath Perps ETHUSD+0.0208%1h$29K$34K20xas long as short
Orderly PERP_ETH_USDC+0.0214%8h$31.9M$11.1M100xas long as short
BloFin ETH-USDT+0.0220%8h$291.7M$164.7M150xas long as short
Hibachi ETH/USDT-P+0.0232%1h$303K$1.2M20xas long as short
Ondo Perps ETH-USD.P+0.0240%1h$3.3M$12.5M25xas long as short
Kraken Futures PF_ETHUSD+0.0262%1h$84.7M$313.0M100xas long as short
RISEx ETH/USDC+0.0266%1h$5.9M$13.3M25xas long as short
Hyperliquid ETH+0.0311%1h$3.18B$2.05B25xas long as short
dYdX ETH-USD+0.0432%1h$24.5M$21.3M50xas long as short
01 Exchange ETHUSD+0.0600%1h$186K$1.0M50xas long as short
Derive ETH-PERP+0.0688%1h$42.1M$18.9M15xas long as short