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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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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
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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−0.0303%/8h= −33.2% APRnext payment −$0.38 per $10,000 · paid last 24h −0.067%
Price spread now: Hotstuff against Reya+0.042%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on ReyaShort on Hotstuff
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—+ Points / potential airdropReya: Active · Hotstuff: Active · farm boardneeds both histories
The price spread pays, funding is against you. Hotstuff is 0.042% dearer against Reya than usual: you sell high and buy low (spread +0.042% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 11 hours.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongReya ETHRUSDPERP2,746.60.0223pay 0.0028% / 1h59m 30s$7.3M$1.1M25x
ShortHotstuff ETH-PERP2,747.8−0.0080pay 0.0010% / 1h59m 30s$5K$1K50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hotstuff against Reya. 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
−$63.67
Price spread: +0.042% → 0.000%
$4.21
Slippage, 4 orders
no order book: not counted
Fee Reya: 3 bp × 2 orders
−$6
Fee Hotstuff: 2.5 bp × 2 orders
−$5
Net
−$70.46
Costs to cover
0.110%
Break-even
never at this rate
Slippage unknown: Reya: no order-book sample; Hotstuff: 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
LegHalf-spread$10k$100k$1M$5M
Buy Reya no order-book sample—————
Sell Hotstuff no order-book sample—————
Reya and Hotstuff: 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 54 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−0.0112%43m2,747.1+0.016%$306K$5.6M8.3xas long as short
Hotstuff ETH-PERPshort−0.0080%1h2,747.8+0.042%$5K$1K50x
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,745.6−0.038%$12.1M—200xas long as short
Phoenix ETH−0.0006%1h2,748.4+0.064%$847K$2.8M25xas long as short
dYdX ETH-USD0.0000%1h2,748.6+0.070%$10.8M$42.0M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,747.3+0.024%$22.2M—200xas long as short
01 Exchange ETHUSD+0.0024%1h2,748+0.049%$183K$981K50xas long as short
BingX ETH-USDT+0.0042%8h2,747.4+0.027%—$1.16B—as long as short
OKX ETH-USDT-SWAP+0.0053%8h2,746.8+0.005%$1.70B$10.62B100xas long as short
KuCoin ETHUSDTM+0.0066%8h2,746.9+0.008%$369.0M$602.2M100xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster ETHUSDT+0.0073%8h2,747.8+0.042%$252.7M$842.8M200xas long as short
RISEx ETH/USDC+0.0077%1h2,747.8+0.042%$5.7M$11.2M25xas long as short
Aevo ETH-PERP+0.0080%1h2,743.4−0.116%$4.9M$167K20xas long as short
HTX ETH-USDT+0.0083%8h2,745.7−0.035%$1.06B$1.18B200xas long as short
MEXC ETH_USDT+0.0083%8h2,746.9+0.010%$1.58B$2.50B500xas long as short
Binance ETHUSDT+0.0083%8h2,747.1+0.017%$6.39B$15.80B150xas long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,746.3−0.014%$58.6M$4.28B50xas long as short
ApeX Omni ETHUSDT+0.0089%1h2,746.6−0.003%$8.7M$31.2M100xas long as short
Bullet ETH-USD+0.0094%1h2,746.8+0.006%$182K$1.7M20xas long as short
Lighter ETH+0.0096%1h2,748.2+0.058%$113.0M$430.0M50xas long as short
Lighter RH ETH+0.0096%1h2,749.5+0.105%$24.8M$108.1M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,747.5+0.031%—$31.0M500xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,751.3+0.171%$16.2M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,747.3+0.024%$483K$3.0M50xas long as short
Nado ETH-PERP+0.0100%1h2,747.1+0.016%$13.9M$107.0M50xas long as short
Hyperliquid ETH+0.0100%1h2,749+0.086%$3.12B$2.06B25xas long as short
Pacifica ETH+0.0100%1h2,748.7+0.075%$31.7M$334.3M50xas long as short
Bybit ETHUSDT+0.0100%8h2,747.2+0.021%$2.47B$4.19B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,745.3−0.049%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,748+0.050%$2.7M$16.0M25xas long as short
Gate ETH_USDT+0.0100%8h2,747.8+0.042%$3.40B$8.63B200xas long as short
Bitget ETHUSDT+0.0100%8h2,747+0.013%$2.08B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,745.3−0.050%$15.0M$41.2M50xas long as short
Variational Omni ETH+0.0100%8h2,746.6−0.002%$133.0M$342.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,746.8+0.007%$181.9M$701.4M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,748.5+0.066%$159.8M$81.7M50xas long as short
StandX ETH-USD+0.0100%1h2,747.2+0.020%$21.2M$69.1M40xas long as short
Vest ETH-PERP+0.0100%1h2,748+0.050%—$819K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,747.8+0.042%$10.7M$8.5M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,746.2−0.016%$21K$21K25xas long as short
Derive ETH-PERP+0.0100%1h2,747.5+0.030%$41.6M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,745.6−0.038%$962K$12.0M100xas long as short
SoDEX ETH-USD+0.0100%1h2,745.4−0.045%$54.7M$187.5M40xas long as short
Phemex ETHUSDT+0.0100%8h2,745.9−0.028%$267.3M$65.7M150xas long as short
Bulk ETH-USD+0.0100%1h2,746.2−0.015%$164.3M$302.6M25xas long as short
Extended ETH-USD+0.0104%1h2,746.7+0.002%$30.6M$72.7M50xas long as short
Aftermath Perps ETHUSD+0.0109%1h2,747.7+0.040%$30K$20K20xas long as short
Deribit ETH-PERPETUAL+0.0118%1h2,746.8+0.005%$258.9M$196.3M50xas long as short
Kalshi KXETHPERP+0.0149%8h2,746.8+0.006%$7.9M$671.4M4.9xas long as short
Orderly PERP_ETH_USDC+0.0182%8h2,748.3+0.060%$32.3M$11.0M100xas long as short
Injective ETH/USDC PERP+0.0209%1h2,748.3+0.060%$118K$22.5M52xas long as short
Reya ETHRUSDPERPlong+0.0223%1h2,746.6long leg$7.3M$1.1M25x
Hibachi ETH/USDT-P+0.0232%1h2,746.9+0.008%$250K$1.4M20xas long as short
Kraken Futures PF_ETHUSD+0.0354%1h2,746.3−0.014%$88.1M$310.8M100xas long as short