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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 01:00 UTC+0.0012%/8h= +1.3% APRnext payment +$0.01 per $10,000 · paid last 24h −0.014%
Price spread now: gTrade (Gains Network) against Phoenix−0.057%7-day average −0.064% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$16as in the Price arb table
costs, in and out, $10k−$170.166% of the position
Long on PhoenixShort on gTrade (Gains Network)
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.070%−$7 on $10k
Price spread, last 3 days (all we have)+0.048%+$5 · spread now −0.057%, 7d avg −0.064%
Together, before fees−0.022%−$2 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.064%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair cost −0.070%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix ETH2,749.7−0.0006get 0.0001% / 1h44m 30s$863K$3.1M25x
ShortgTrade (Gains Network) ETH/USD2,748.1L +0.0006% / S −0.0006%get 0.0001% / 1h44m 30s$22.2M—200x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Phoenix. 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
$2.46
Price spread: −0.057% → −0.064%
$0.68
Slippage, 4 orders
−$2.57
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee gTrade (Gains Network): 3.5 bp × 2 orders
−$7
Net
−$13.43
Costs to cover
0.166%
Break-even
45.2 days
Slippage from Phoenix: live order book, 9 min ago; gTrade (Gains Network): virtual book (oracle venue), 5 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 Phoenix live order book, 9 min ago0.18 bp4.2 bp −$47.5 bp −$7519.9 bp −$1,987doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 5 min ago0.53 bp4.0 bp −$44.1 bp −$415.0 bp −$4998.9 bp −$4,443

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%43m2,748.6−0.041%$314K$6.2M8.3xas long as short
ApeX Omni ETHUSDT−0.0149%1h2,751+0.046%$8.8M$31.6M100xas long as short
Hotstuff ETH-PERP−0.0080%1h2,749.8+0.004%$5K$1K50xas long as short
RISEx ETH/USDC−0.0071%1h2,750.3+0.023%$5.5M$11.3M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,748.1−0.060%$12.0M—200xas long as short
Phoenix ETHlong−0.0006%1h2,749.7long leg$863K$3.1M25x
dYdX ETH-USD0.0000%1h2,750.1+0.016%$10.9M$41.9M50xas long as short
Deribit ETH-PERPETUAL+0.0005%1h2,748.5−0.045%$258.6M$202.3M50xas long as short
gTrade (Gains Network) ETH/USDshortL +0.0006% / S −0.0006%1h2,748.1−0.057%$22.2M—200x
01 Exchange ETHUSD+0.0008%1h2,751.4+0.062%$181K$1.1M50xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDT+0.0028%8h2,749.9+0.008%—$1.20B—as long as short
OKX ETH-USDT-SWAP+0.0037%8h2,751.3+0.058%$1.68B$11.11B100xas long as short
Aster ETHUSDT+0.0054%8h2,750.2+0.020%$255.8M$856.9M200xas long as short
HTX ETH-USDT+0.0056%8h2,747.4−0.084%$1.06B$1.22B200xas long as short
Aevo ETH-PERP+0.0064%1h2,744.7−0.182%$4.9M$168K20xas long as short
MEXC ETH_USDT+0.0065%8h2,749.2−0.019%$1.58B$2.53B500xas long as short
Binance ETHUSDT+0.0065%8h2,750.8+0.040%$6.36B$16.32B150xas long as short
Gate ETH_USDT+0.0068%8h2,750+0.011%$3.35B$8.76B200xas long as short
KuCoin ETHUSDTM+0.0079%8h2,749.1−0.024%$383.7M$606.5M100xas long as short
Bitget ETHUSDT+0.0085%8h2,750.6+0.033%$2.07B$2.86B150xas long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,748.4−0.047%$59.5M$4.39B50xas long as short
Aftermath Perps ETHUSD+0.0096%1h2,751+0.048%$30K$21K20xas long as short
Lighter ETH+0.0096%1h2,749.7−0.001%$113.1M$439.6M50xas long as short
Lighter RH ETH+0.0096%1h2,751+0.048%$25.0M$106.1M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,748.6−0.041%—$35.6M500xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,752.2+0.090%$15.9M$8.2M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,749.9+0.007%$469K$2.9M50xas long as short
Nado ETH-PERP+0.0100%1h2,751.3+0.059%$14.0M$113.4M50xas long as short
Hyperliquid ETH+0.0100%1h2,751.8+0.076%$3.13B$2.14B25xas long as short
Pacifica ETH+0.0100%1h2,750+0.011%$31.6M$333.7M50xas long as short
Bybit ETHUSDT+0.0100%8h2,751.7+0.071%$2.47B$4.36B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,749−0.025%$2.8M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,750.7+0.037%$2.8M$16.8M25xas long as short
Bulk ETH-USD+0.0100%1h2,751.4+0.061%$167.5M$300.9M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,747.4−0.083%$14.9M$42.4M50xas long as short
Variational Omni ETH+0.0100%8h2,750+0.011%$133.2M$346.7M—as long as short
edgeX ETHUSDC+0.0100%4h2,750.8+0.041%$184.4M$736.1M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,753.1+0.124%$160.1M$82.7M50xas long as short
StandX ETH-USD+0.0100%1h2,749−0.025%$21.3M$66.6M40xas long as short
Vest ETH-PERP+0.0100%1h2,751.2+0.053%—$871K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,750.4+0.025%$10.4M$8.0M50xas long as short
Bullet ETH-USD+0.0100%1h2,747.7−0.073%$184K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,748.7−0.038%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,749.2−0.018%$41.9M$29.0M15xas long as short
SunX ETH-USDT+0.0100%8h2,747.4−0.084%$964K$12.6M100xas long as short
SoDEX ETH-USD+0.0100%1h2,747.2−0.091%$54.7M$187.6M40xas long as short
Phemex ETHUSDT+0.0100%8h2,747.7−0.073%$267.4M$66.2M150xas long as short
Extended ETH-USD+0.0104%1h2,749.2−0.018%$30.9M$75.0M50xas long as short
Kalshi KXETHPERP+0.0135%8h2,749−0.025%$7.6M$673.7M4.9xas long as short
Orderly PERP_ETH_USDC+0.0162%8h2,750+0.011%$32.3M$11.3M100xas long as short
Hibachi ETH/USDT-P+0.0176%1h2,750.9+0.043%$250K$1.5M20xas long as short
BloFin ETH-USDT+0.0180%8h2,752.8+0.114%$285.0M$179.1M150xas long as short
Injective ETH/USDC PERP+0.0209%1h2,747.6−0.076%$118K$22.5M52xas long as short
Reya ETHRUSDPERP+0.0218%1h2,750+0.009%$7.3M$1.1M25xas long as short
Kraken Futures PF_ETHUSD+0.0354%1h2,748.1−0.057%$92.8M$316.0M100xas long as short