Settings8H · net · $10k
FundingCostsSizeExchangesMy alerts
Funding arb · Price arb /

ETH

all ETH markets
SwapBacktest
Alert: funding
Measured
My alerts

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.

Alert: spread
My alerts

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 you earn now, next payment 03:00 UTC+0.0131%/8h= +14.3% APRpaid last 24h +0.016%
Price spread now: Deribit against Phemex+0.058%7-day average +0.045% · you sell dearer than you buy
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$210.211% of the position
Long on PhemexShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 7 days+0.057%+$6 on $10k
Price spread, last 4 days (all we have)−0.016%−$2 · spread now +0.058%, 7d avg +0.045%
Together, before fees+0.040%+$4 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.045%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex ETHUSDT2,745.40.0100pay 0.0100% / 8h5h 10m$266.8M$64.9M150x
ShortDeribit ETH-PERPETUAL2,7470.0231get 0.0029% / 1h10m 30s$259.8M$195.3M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit 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
$27.51
Price spread: +0.058% → +0.045%
$1.37
Slippage, 4 orders
−$2.08
Fee Phemex: 6 bp × 2 orders
−$12
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
$7.8
Costs to cover
0.211%
Break-even
5.0 days
Slippage from Phemex: live order book, 4 min ago; Deribit: live order book, 4 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, 4 min ago0.02 bp6.0 bp −$69.1 bp −$9113.7 bp −$1,367doesn't fit
Sell Deribit live order book, 4 min ago0.09 bp5.4 bp −$56.6 bp −$6610.1 bp −$1,01320.0 bp −$10.0K

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%1h2,747.4+0.072%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,735.6−0.357%$117K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,745.40.000%$12.1M—200xas long as short
Perpl ETH0.0000%43m2,744.1−0.047%$305K$5.6M8.3xas long as short
dYdX ETH-USD0.0000%1h2,746.4+0.037%$10.8M$41.7M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,745.6+0.008%$25.1M—200xas long as short
Phoenix ETH+0.0017%1h2,746.8+0.051%$848K$2.9M25xas long as short
01 Exchange ETHUSD+0.0024%1h2,746.9+0.054%$182K$836K50xas long as short
ApeX Omni ETHUSDT+0.0032%1h2,744.4−0.036%$8.8M$30.7M100xas long as short
BingX ETH-USDT+0.0054%8h2,746.8+0.051%—$1.14B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0068%8h2,746.7+0.048%$1.71B$10.56B100xas long as short
KuCoin ETHUSDTM+0.0071%8h2,746.7+0.048%$382.3M$575.3M100xas long as short
Bullet ETH-USD+0.0074%1h2,745−0.017%$182K$1.7M20xas long as short
RISEx ETH/USDC+0.0077%1h2,747.4+0.071%$5.6M$11.4M25xas long as short
Aster ETHUSDT+0.0087%8h2,746.7+0.048%$254.1M$840.9M200xas long as short
SoDEX ETH-USD+0.0091%1h2,745.40.000%$54.7M$187.6M40xas long as short
MEXC ETH_USDT+0.0094%8h2,746.6+0.044%$1.57B$2.56B500xas long as short
Binance ETHUSDT+0.0094%8h2,746.8+0.051%$6.39B$15.68B150xas long as short
Lighter ETH+0.0096%1h2,747.2+0.064%$112.9M$435.9M50xas long as short
Lighter RH ETH+0.0096%1h2,748.4+0.110%$24.7M$104.2M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,742.8−0.093%—$30.4M500xas long as short
Aevo ETH-PERP+0.0096%1h2,744.6−0.028%$4.9M$154K20xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,746.2+0.027%$56.0M$4.26B50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,750.9+0.199%$16.0M$7.9M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,747+0.058%$469K$3.1M50xas long as short
Nado ETH-PERP+0.0100%1h2,746.8+0.052%$13.9M$104.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,749.2+0.138%$3.12B$2.06B25xas long as short
Pacifica ETH+0.0100%1h2,747.4+0.072%$31.8M$334.5M50xas long as short
Bybit ETHUSDT+0.0100%8h2,746.8+0.052%$2.45B$4.17B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,742.7−0.099%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,747.4+0.074%$2.8M$16.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,746.6+0.042%$165.7M$303.2M25xas long as short
Gate ETH_USDT+0.0100%8h2,747+0.058%$3.40B$8.77B200xas long as short
Bitget ETHUSDT+0.0100%8h2,746.4+0.036%$2.09B$2.72B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,745.5+0.003%$15.0M$39.4M50xas long as short
Variational Omni ETH+0.0100%8h2,743.1−0.084%$133.1M$325.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,743.6−0.068%$182.4M$665.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,743.7−0.061%$159.6M$83.5M50xas long as short
StandX ETH-USD+0.0100%1h2,744.4−0.037%$21.2M$68.1M40xas long as short
Vest ETH-PERP+0.0100%1h2,747.2+0.064%—$815K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,747.2+0.065%$11.0M$8.8M50xas long as short
Derive ETH-PERP+0.0100%1h2,747.5+0.076%$41.5M$29.6M15xas long as short
SunX ETH-USDT+0.0100%8h2,745−0.014%$963K$11.4M100xas long as short
HTX ETH-USDT+0.0100%8h2,744.7−0.024%$1.06B$1.17B200xas long as short
Phemex ETHUSDTlong+0.0100%8h2,745.4long leg$266.8M$64.9M150x
Extended ETH-USD+0.0104%1h2,746.2+0.028%$30.7M$71.9M50xas long as short
Aftermath Perps ETHUSD+0.0133%1h2,745.5+0.003%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0159%8h2,744.5−0.033%$7.7M$670.4M4.9xas long as short
Orderly PERP_ETH_USDC+0.0195%8h2,747.9+0.091%$32.3M$11.4M100xas long as short
BloFin ETH-USDT+0.0218%8h2,745.4−0.001%$285.8M$180.2M150xas long as short
Kraken Futures PF_ETHUSD+0.0221%1h2,746.3+0.032%$86.6M$310.0M100xas long as short
Reya ETHRUSDPERP+0.0227%1h2,744.8−0.024%$7.3M$1.2M25xas long as short
Deribit ETH-PERPETUALshort+0.0231%1h2,747+0.058%$259.8M$195.3M50x
Hibachi ETH/USDT-P+0.0256%1h2,745.8+0.016%$252K$1.4M20xas long as short
Bluefin ETH-PERP+0.0402%1h2,745.7+0.011%$21K$20K25xas long as short