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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 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.015%
Price spread now: Variational Omni against Phemex−0.039%7-day average −0.001% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on PhemexShort on Variational Omni
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.033%+$3 on $10k
Price spread, last 4 days (all we have)+0.174%+$17 · spread now −0.039%, 7d avg −0.001%
Together, before fees+0.207%+ Points / potential airdropVariational Omni: Active · farm board+$21 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.038% cheaper against Phemex than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.001%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex ETHUSDT2,730.40.0100pay 0.0100% / 8h4h 40m$265.4M$65.5M150x
ShortVariational Omni ETH2,729.30.0100get 0.0100% / 8h4h 40m$133.2M$325.2M—

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Variational Omni 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
$0
Price spread: −0.039% → −0.001%
−$3.81
Slippage, 4 orders
no order book: not counted
Fee Phemex: 6 bp × 2 orders
−$12
Fee Variational Omni: 0 bp × 2 orders
$0
Net
−$15.81
Costs to cover
0.120%
Break-even
never at this rate
Slippage unknown: Phemex: live order book, 4 min ago; Variational Omni: RFQ quote, 4 min ago. 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 Phemex live order book, 4 min ago0.02 bp6.0 bp −$67.7 bp −$7711.9 bp −$1,192doesn't fit
Sell Variational Omni RFQ quote, 4 min ago0.48 bpdoesn't fit0.8 bp −$85.5 bp −$553doesn't fit

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−0.0447%43m2,729.8−0.020%$298K$5.6M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,728.7−0.060%$117K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,732.1+0.064%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,730.6+0.009%$11.9M—200xas long as short
ApeX Omni ETHUSDT−0.0005%1h2,729.9−0.018%$8.9M$31.3M100xas long as short
dYdX ETH-USD0.0000%1h2,731.3+0.034%$10.7M$41.7M50xas long as short
01 Exchange ETHUSD0.0000%1h2,731.8+0.053%$188K$842K50xas long as short
Phoenix ETH0.0000%1h2,728.8−0.057%$832K$2.9M25xas long as short
Bullet ETH-USD+0.0006%1h2,729.9−0.016%$180K$1.7M20xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,731.1+0.028%$26.2M—200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX ETH-USD+0.0058%1h2,730.2−0.005%$54.4M$187.6M40xas long as short
BingX ETH-USDT+0.0059%8h2,731.2+0.030%—$1.14B—as long as short
KuCoin ETHUSDTM+0.0069%8h2,731.5+0.041%$380.5M$576.2M100xas long as short
OKX ETH-USDT-SWAP+0.0073%8h2,731.4+0.037%$1.67B$10.71B100xas long as short
HTX ETH-USDT+0.0080%8h2,729.7−0.025%$1.05B$1.20B200xas long as short
Aster ETHUSDT+0.0080%8h2,731.7+0.050%$251.5M$844.2M200xas long as short
Bybit ETHUSDT+0.0086%8h2,731.2+0.033%$2.39B$4.34B150xas long as short
MEXC ETH_USDT+0.0088%8h2,731.8+0.055%$1.53B$2.55B500xas long as short
Aevo ETH-PERP+0.0088%1h2,727.8−0.094%$4.9M$155K20xas long as short
Binance ETHUSDT+0.0088%8h2,731.8+0.054%$6.35B$15.87B150xas long as short
Lighter ETH+0.0096%1h2,732.1+0.064%$112.1M$435.9M50xas long as short
Lighter RH ETH+0.0096%1h2,732.9+0.094%$23.3M$105.8M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,730.2−0.004%—$30.6M500xas long as short
Paradex ETH-USD-PERP+0.0098%8h2,734.8+0.161%$15.6M$8.0M50xas long as short
RISEx ETH/USDC+0.0099%1h2,732.1+0.066%$5.6M$11.5M25xas long as short
Katana Perps ETH-USD+0.0100%8h2,731+0.024%$500K$3.2M50xas long as short
Nado ETH-PERP+0.0100%1h2,729.7−0.025%$13.8M$104.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,734.2+0.141%$3.10B$2.06B25xas long as short
Pacifica ETH+0.0100%1h2,732.8+0.089%$31.6M$333.8M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,731.7+0.049%$2.7M$17.0M25xas long as short
Arcus ETH-USD+0.0100%1h2,732.2+0.068%$2.8M$16.2M25xas long as short
Gate ETH_USDT+0.0100%8h2,731.6+0.046%$3.34B$8.83B200xas long as short
Bitget ETHUSDT+0.0100%8h2,731.4+0.038%$2.07B$2.75B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,730.2−0.004%$15.0M$39.7M50xas long as short
Variational Omni ETHshort+0.0100%8h2,729.3−0.039%$133.2M$325.2M—
edgeX ETHUSDC+0.0100%4h2,730.8+0.016%$183.7M$669.7M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,730.7+0.011%$158.9M$86.4M50xas long as short
StandX ETH-USD+0.0100%1h2,730.4+0.002%$21.1M$69.5M40xas long as short
Vest ETH-PERP+0.0100%1h2,730.5+0.004%—$843K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,731.2+0.031%$11.1M$9.1M50xas long as short
Derive ETH-PERP+0.0100%1h2,731.9+0.056%$41.2M$29.7M15xas long as short
SunX ETH-USDT+0.0100%8h2,729.1−0.047%$957K$11.4M100xas long as short
Phemex ETHUSDTlong+0.0100%8h2,730.4long leg$265.4M$65.5M150x
Bulk ETH-USD+0.0100%1h2,730.9+0.020%$166.8M$318.0M25xas long as short
Extended ETH-USD+0.0104%1h2,730.4+0.003%$30.4M$72.7M50xas long as short
Deribit ETH-PERPETUAL+0.0105%1h2,731.7+0.048%$260.1M$196.7M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,731.8+0.052%$51.5M$4.26B50xas long as short
Aftermath Perps ETHUSD+0.0123%1h2,731.4+0.040%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0150%8h2,729.8−0.020%$6.5M$677.7M4.9xas long as short
Orderly PERP_ETH_USDC+0.0193%8h2,732.8+0.088%$32.1M$11.6M100xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,731+0.024%$84.2M$314.0M100xas long as short
Reya ETHRUSDPERP+0.0222%1h2,728.9−0.052%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,730.5+0.007%$253K$1.4M20xas long as short
BloFin ETH-USDT+0.0354%8h2,730.3−0.003%$282.9M$174.9M150xas long as short
Bluefin ETH-PERP+0.0360%1h2,731.1+0.029%$21K$20K25xas long as short