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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 03:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.12 per $10,000 · paid last 24h +0.020%
Price spread now: dYdX against Polymarket Perps−0.025%7-day average −0.017% · you buy dearer than you sell
Net, funding: paid 7d − costs−$28as in the Funding arb table
Net, price: spread back to 7d avg − costs−$38as in the Price arb table
costs, in and out, $10k−$370.369% of the position
Long on Polymarket PerpsShort on dYdX
What this pair did over the last
the charts below follow
Funding, last 7 days+0.085%+$8 on $10k
Price spread, last 7 days+0.077%+$8 · spread now −0.025%, 7d avg −0.017%
Together, before fees+0.161%+$16 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.017%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.085%, so the current rate has only just turned against you.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPolymarket Perps ETH-USD2,744.20.0100pay 0.0013% / 1h8m 29s$11.0M$8.8M50x
ShortdYdX ETH-USD2,743.50.0000get 0.0000% / 1h8m 29s$10.8M$41.7M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

dYdX against Polymarket Perps. 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
−$20.99
Price spread: −0.025% → −0.017%
−$0.78
Slippage, 4 orders
−$18.87
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Fee dYdX: 5 bp × 2 orders
−$10
Net
−$58.64
Costs to cover
0.369%
Break-even
never at this rate
Slippage from Polymarket Perps: live order book, 6 min ago; dYdX: 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 Polymarket Perps live order book, 6 min ago0.18 bp4.5 bp −$45.5 bp −$5514.0 bp −$1,402doesn't fit
Sell dYdX live order book, 1 min ago9.11 bp14.1 bp −$1419.8 bp −$19826.9 bp −$2,69147.7 bp −$23.8K

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%1h2,742.7−0.055%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,735.6−0.313%$117K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,743.8−0.014%$12.1M—200xas long as short
Perpl ETH0.0000%43m2,742.9−0.047%$304K$5.6M8.3xas long as short
dYdX ETH-USDshort0.0000%1h2,743.5−0.025%$10.8M$41.7M50x
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,744.6+0.015%$25.3M—200xas long as short
Phoenix ETH+0.0017%1h2,744.6+0.015%$848K$2.9M25xas long as short
01 Exchange ETHUSD+0.0024%1h2,743.6−0.022%$182K$836K50xas long as short
ApeX Omni ETHUSDT+0.0032%1h2,744.4+0.008%$8.8M$30.7M100xas long as short
BingX ETH-USDT+0.0054%8h2,744−0.006%—$1.14B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0068%8h2,743.6−0.023%$1.70B$10.55B100xas long as short
KuCoin ETHUSDTM+0.0071%8h2,743−0.045%$382.0M$575.1M100xas long as short
Bullet ETH-USD+0.0073%1h2,743.2−0.038%$182K$1.7M20xas long as short
RISEx ETH/USDC+0.0077%1h2,743.7−0.020%$5.6M$11.4M25xas long as short
Aster ETHUSDT+0.0087%8h2,743.8−0.014%$253.9M$840.6M200xas long as short
SoDEX ETH-USD+0.0088%1h2,743.2−0.036%$54.6M$187.5M40xas long as short
Binance ETHUSDT+0.0094%8h2,743.7−0.018%$6.38B$15.68B150xas long as short
MEXC ETH_USDT+0.0094%8h2,743.1−0.041%$1.57B$2.56B500xas long as short
Lighter ETH+0.0096%1h2,743.7−0.017%$112.8M$436.1M50xas long as short
Lighter RH ETH+0.0096%1h2,744.9+0.026%$24.6M$104.2M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,742.5−0.060%—$30.4M500xas long as short
Aevo ETH-PERP+0.0096%1h2,740.3−0.140%$4.9M$154K20xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,744.5+0.009%$54.9M$4.26B50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,747.3+0.112%$16.0M$7.9M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,743.1−0.040%$474K$3.1M50xas long as short
Nado ETH-PERP+0.0100%1h2,743−0.043%$13.9M$104.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,745.4+0.044%$3.12B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,743.4−0.030%$31.7M$333.8M50xas long as short
Bybit ETHUSDT+0.0100%8h2,743.7−0.020%$2.45B$4.17B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,741.2−0.109%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,743.5−0.024%$2.8M$16.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,746.6+0.086%$165.7M$303.2M25xas long as short
Gate ETH_USDT+0.0100%8h2,744.20.000%$3.39B$8.78B200xas long as short
Bitget ETHUSDT+0.0100%8h2,742.6−0.059%$2.08B$2.72B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,742.7−0.054%$15.0M$39.3M50xas long as short
Variational Omni ETH+0.0100%8h2,743.1−0.040%$133.1M$325.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,742.7−0.054%$182.3M$665.4M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,745.1+0.032%$159.6M$83.5M50xas long as short
StandX ETH-USD+0.0100%1h2,746.9+0.098%$21.2M$68.4M40xas long as short
Vest ETH-PERP+0.0100%1h2,743.8−0.013%—$815K50xas long as short
Polymarket Perps ETH-USDlong+0.0100%1h2,744.2long leg$11.0M$8.8M50x
Derive ETH-PERP+0.0100%1h2,745.3+0.040%$41.5M$29.6M15xas long as short
SunX ETH-USDT+0.0100%8h2,742.3−0.070%$961K$11.4M100xas long as short
HTX ETH-USDT+0.0100%8h2,743.1−0.039%$1.06B$1.18B200xas long as short
Phemex ETHUSDT+0.0100%8h2,743.4−0.028%$266.6M$64.9M150xas long as short
Extended ETH-USD+0.0104%1h2,742−0.079%$30.7M$72.0M50xas long as short
Aftermath Perps ETHUSD+0.0137%1h2,744.9+0.024%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0160%8h2,744.5+0.011%$7.7M$670.8M4.9xas long as short
Deribit ETH-PERPETUAL+0.0169%1h2,744.8+0.021%$260.0M$195.4M50xas long as short
Orderly PERP_ETH_USDC+0.0195%8h2,745.8+0.056%$32.3M$11.4M100xas long as short
BloFin ETH-USDT+0.0215%8h2,743.2−0.035%$284.9M$179.7M150xas long as short
Kraken Futures PF_ETHUSD+0.0221%1h2,744.1−0.003%$86.5M$310.1M100xas long as short
Reya ETHRUSDPERP+0.0227%1h2,742.4−0.066%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0256%1h2,747+0.102%$252K$1.4M20xas long as short
Bluefin ETH-PERP+0.0346%1h2,744.1−0.004%$21K$20K25xas long as short