ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0109%/8h= +11.9% APRnext payment +$0.14 per $10,000 · paid last 24h +0.019%

Price spread now: Ondo Perps against Phoenix−0.190%108s7-day average −0.107% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.025%+$2 on $10k

Price spread, last 7 days+0.007%+$1 · spread now −0.190%, 7d avg −0.107%

Together, before fees+0.032%+ Points / potential airdropOndo Perps: Active · farm board+$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Ondo Perps is 0.083% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.190% now, against its 7-day average of −0.107%). If the spread goes back, that is −$8 on $10k: about 2.5 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.025% in total) that is about 23 days. The two prices were read 108 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix ETH	2,736	−0.0009	get 0.0001% / 1h	57m 30s	$817K	$2.9M	25x
Short	Ondo Perps ETH-USD.P	2,730.8	0.0100	get 0.0013% / 1h	57m 30s	$2.7M	$16.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Phoenix. 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

Position, each leg$Hold fordaysFee PhoenixbpFee Ondo PerpsbpOrdersPrice spread, now −0.190%Rate

Funding earned: $22.85
Price spread: −0.190% → −0.107%: −$8.28
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $2.57
Costs to cover: 0.120%
Break-even: 6.2 days

Slippage unknown: Phoenix: live order book, 1 min ago; Ondo Perps: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Phoenix live order book, 1 min ago	0.18 bp	4.3 bp −$4	8.4 bp −$84	22.0 bp −$2,196	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ETH on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ETH	−0.0112%	43m	2,733.5	−0.092%	$296K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,733.9	−0.077%	$5K	$1K	50x	as long as short
Injective ETH/USDC PERP	−0.0040%	1h	2,740	+0.146%	$118K	$22.5M	52x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,733.1	−0.108%	$12.0M	—	200x	as long as short
Phoenix ETHlong	−0.0009%	1h	2,736	long leg	$817K	$2.9M	25x
dYdX ETH-USD	0.0000%	1h	2,732.8	−0.117%	$10.5M	$42.9M	50x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,732.7	−0.121%	$260.2M	$211.2M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,732.8	−0.115%	$33.0M	—	200x	as long as short
HTX ETH-USDT	+0.0010%	8h	2,732.1	−0.144%	$1.05B	$1.22B	200x	as long as short
BingX ETH-USDT	+0.0035%	8h	2,730.8	−0.191%	—	$1.12B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ETHUSD	+0.0040%	1h	2,732.2	−0.139%	$193K	$887K	50x	as long as short
Bybit ETHUSDT	+0.0042%	8h	2,731.1	−0.180%	$2.35B	$4.42B	150x	as long as short
SoDEX ETH-USD	+0.0063%	1h	2,732.2	−0.139%	$54.4M	$187.5M	40x	as long as short
KuCoin ETHUSDTM	+0.0079%	8h	2,732.5	−0.127%	$375.2M	$576.6M	100x	as long as short
Aftermath Perps ETHUSD	+0.0084%	1h	2,734.8	−0.043%	$30K	$20K	20x	as long as short
SunX ETH-USDT	+0.0092%	8h	2,733.5	−0.092%	$957K	$11.1M	100x	as long as short
Aster ETHUSDT	+0.0095%	8h	2,731.2	−0.174%	$253.1M	$848.4M	200x	as long as short
Bullet ETH-USD	+0.0095%	1h	2,732.9	−0.113%	$182K	$1.7M	20x	as long as short
OKX ETH-USDT-SWAP	+0.0096%	8h	2,731.3	−0.172%	$1.66B	$10.93B	100x	as long as short
Lighter ETH	+0.0096%	1h	2,732.2	−0.140%	$112.3M	$430.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,733.1	−0.106%	$23.5M	$102.6M	50x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,729.8	−0.228%	$4.9M	$150K	20x	as long as short
ApeX Omni ETHUSDT	+0.0098%	1h	2,734.5	−0.055%	$8.7M	$31.5M	100x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,730.8	−0.190%	$508K	$3.5M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,736.7	+0.026%	$15.3M	$8.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,731.1	−0.178%	$14.1M	$105.5M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,734.4	−0.058%	$3.11B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,732.6	−0.124%	$32.0M	$334.2M	50x	as long as short
Binance ETHUSDT	+0.0100%	8h	2,731.1	−0.179%	$6.33B	$16.16B	150x	as long as short
Ondo Perps ETH-USD.Pshort	+0.0100%	1h	2,730.8	−0.190%	$2.7M	$16.8M	25x
Arcus ETH-USD	+0.0100%	1h	2,731.5	−0.163%	$1.5M	$16.2M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,735	−0.037%	$163.2M	$327.7M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,730.9	−0.186%	$3.28B	$8.91B	200x	as long as short
MEXC ETH_USDT	+0.0100%	8h	2,732	−0.146%	$1.53B	$2.57B	500x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,731	−0.184%	$2.08B	$2.78B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,732	−0.146%	$15.1M	$42.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,734	−0.073%	$134.8M	$325.9M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,731.9	−0.150%	$185.3M	$680.7M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,735.4	−0.022%	$159.1M	$87.6M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,734	−0.073%	$21.0M	$70.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,735	−0.035%	—	$879K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,735.1	−0.033%	$11.2M	$9.5M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,733.1	−0.105%	$22K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,733.9	−0.077%	$41.0M	$30.2M	15x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,732.6	−0.123%	$263.5M	$65.1M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,729.7	−0.230%	$30.3M	$74.2M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,732.6	−0.123%	—	$31.3M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,733.7	−0.083%	$50.3M	$4.32B	50x	as long as short
Kalshi KXETHPERP	+0.0115%	8h	2,733.6	−0.088%	$6.8M	$692.4M	4.9x	as long as short
RISEx ETH/USDC	+0.0115%	1h	2,731.6	−0.160%	$5.6M	$11.8M	25x	as long as short
Orderly PERP_ETH_USDC	+0.0187%	8h	2,734.7	−0.049%	$32.2M	$11.6M	100x	as long as short
Reya ETHRUSDPERP	+0.0196%	1h	2,732.5	−0.127%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0210%	1h	2,732.5	−0.129%	$83.5M	$311.3M	100x	as long as short
Hibachi ETH/USDT-P	+0.0280%	1h	2,733.3	−0.100%	$248K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0400%	8h	2,732	−0.147%	$281.4M	$175.2M	150x	as long as short