Settings8H · net · $10k
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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 05:00 UTC+0.0014%/8h= +1.6% APRpaid last 24h +0.011%
Price spread now: Bulk against Phemex+0.078%7-day average +0.023% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$14as in the Price arb table
costs, in and out, $10k−$190.192% of the position
Long on PhemexShort on Bulk
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.032%+$3 on $10k
Price spread, last 4 days (all we have)−0.015%−$2 · spread now +0.078%, 7d avg +0.023%
Together, before fees+0.017%+$2 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Bulk is 0.055% dearer against Phemex than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.023%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex ETHUSDT2,734.30.0086pay 0.0086% / 8h3h 28m$265.1M$65.1M150x
ShortBulk ETH-USD2,736.40.0100get 0.0013% / 1h28m 30s$170.3M$327.0M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bulk against Phemex. 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
$3.02
Price spread: +0.078% → +0.023%
$5.54
Slippage, 4 orders
−$0.21
Fee Phemex: 6 bp × 2 orders
−$12
Fee Bulk: 3.5 bp × 2 orders
−$7
Net
−$10.65
Costs to cover
0.192%
Break-even
31.7 days
Slippage from Phemex: live order book, 6 min ago; Bulk: live order book, 1 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, 6 min ago0.02 bp6.0 bp −$67.0 bp −$7011.9 bp −$1,18915.6 bp −$7,802
Sell Bulk live order book, 1 min ago0.04 bp3.5 bp −$43.5 bp −$353.6 bp −$3564.0 bp −$2,014

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−0.0335%43m2,733.9−0.016%$297K$5.6M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,734.6+0.011%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,734.5+0.007%$11.9M—200xas long as short
Phoenix ETH−0.0006%1h2,739+0.172%$821K$2.9M25xas long as short
HTX ETH-USDT−0.0005%8h2,733−0.048%$1.06B$1.20B200xas long as short
dYdX ETH-USD+0.0004%1h2,734.2−0.002%$10.7M$42.0M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,734.5+0.009%$28.1M—200xas long as short
Bullet ETH-USD+0.0025%1h2,732.5−0.064%$179K$1.7M20xas long as short
BingX ETH-USDT+0.0033%8h2,733.9−0.016%—$1.14B—as long as short
Bybit ETHUSDT+0.0041%8h2,733.4−0.033%$2.37B$4.37B150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
01 Exchange ETHUSD+0.0048%1h2,734.2−0.004%$187K$816K50xas long as short
KuCoin ETHUSDTM+0.0068%8h2,734.2−0.003%$379.8M$573.5M100xas long as short
Deribit ETH-PERPETUAL+0.0068%1h2,735.4+0.040%$259.5M$200.2M50xas long as short
OKX ETH-USDT-SWAP+0.0076%8h2,733.5−0.029%$1.67B$10.73B100xas long as short
SunX ETH-USDT+0.0080%8h2,734.2−0.003%$959K$11.2M100xas long as short
Aster ETHUSDT+0.0084%8h2,734.2−0.004%$251.1M$841.9M200xas long as short
ApeX Omni ETHUSDT+0.0085%1h2,737.8+0.127%$8.7M$31.2M100xas long as short
Phemex ETHUSDTlong+0.0086%8h2,734.3long leg$265.1M$65.1M150x
MEXC ETH_USDT+0.0092%8h2,733.1−0.045%$1.55B$2.57B500xas long as short
Binance ETHUSDT+0.0092%8h2,733.8−0.017%$6.35B$15.89B150xas long as short
Lighter ETH+0.0096%1h2,734.2−0.002%$112.8M$432.4M50xas long as short
Lighter RH ETH+0.0096%1h2,735.6+0.046%$23.4M$104.3M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,736.1+0.064%—$30.9M500xas long as short
Aevo ETH-PERP+0.0096%1h2,731.7−0.096%$4.9M$155K20xas long as short
Injective ETH/USDC PERP+0.0096%1h2,735.8+0.055%$117K$22.5M52xas long as short
SoDEX ETH-USD+0.0097%1h2,734.2−0.004%$54.4M$187.7M40xas long as short
Katana Perps ETH-USD+0.0100%8h2,733.4−0.033%$505K$3.3M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,736.9+0.096%$15.6M$8.0M50xas long as short
Nado ETH-PERP+0.0100%1h2,734.1−0.007%$13.8M$104.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,735.9+0.059%$3.10B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,734.6+0.011%$31.9M$333.7M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,733.4−0.033%$2.7M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,734.9+0.022%$1.5M$16.0M25xas long as short
Bulk ETH-USDshort+0.0100%1h2,736.4+0.078%$170.3M$327.0M25x
Gate ETH_USDT+0.0100%8h2,734−0.011%$3.33B$8.89B200xas long as short
Bitget ETHUSDT+0.0100%8h2,733.4−0.032%$2.07B$2.72B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,733.4−0.034%$15.2M$40.3M50xas long as short
Variational Omni ETH+0.0100%8h2,737.4+0.114%$133.6M$321.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,736.2+0.068%$184.1M$671.1M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,738.1+0.139%$159.3M$86.9M50xas long as short
StandX ETH-USD+0.0100%1h2,735.7+0.051%$21.1M$69.3M40xas long as short
Vest ETH-PERP+0.0100%1h2,734.7+0.016%—$844K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,734.9+0.022%$11.2M$9.3M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,734.6+0.012%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,735.7+0.050%$41.3M$29.9M15xas long as short
Extended ETH-USD+0.0104%1h2,732.7−0.059%$30.6M$73.1M50xas long as short
RISEx ETH/USDC+0.0107%1h2,734.7+0.013%$5.6M$11.7M25xas long as short
Aftermath Perps ETHUSD+0.0109%1h2,736.5+0.081%$30K$20K20xas long as short
Coinbase International ETH-PERP-INTX+0.0120%1h2,735+0.027%$50.9M$4.28B50xas long as short
Kalshi KXETHPERP+0.0137%8h2,735.7+0.051%$6.5M$684.2M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0153%1h2,734.9+0.022%$83.3M$315.0M100xas long as short
Orderly PERP_ETH_USDC+0.0196%8h2,736.2+0.069%$32.2M$11.7M100xas long as short
Reya ETHRUSDPERP+0.0211%1h2,732.3−0.075%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0256%1h2,735.5+0.045%$245K$1.4M20xas long as short
BloFin ETH-USDT+0.0370%8h2,734.2−0.003%$283.1M$175.1M150xas long as short