ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0083%/8h= −9.0% APRnext payment −$0.10 per $10,000 · paid last 24h −0.011%

Price spread now: Phoenix against RISEx+0.166%7-day average +0.087% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$7as in the Price arb table

costs, in and out, $10k−$150.154% of the position

Long on RISEx Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.031%−$3 on $10k

Price spread, last 7 days−0.086%−$9 · spread now +0.166%, 7d avg +0.087%

Together, before fees−0.116%−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phoenix is 0.079% dearer against RISEx than usual: you sell high and buy low (spread +0.166% now, against its 7-day average of +0.087%): +$8 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.2 days. At the pace of the last 4 days (−0.031% in total) that is about 9.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx ETH/USDC	2,743.8	0.0077	pay 0.0010% / 1h	54m 48s	$5.7M	$11.2M	25x
Short	Phoenix ETH	2,748.4	−0.0006	pay 0.0001% / 1h	54m 48s	$847K	$2.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against RISEx. 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

Position, each leg$Hold fordaysFee RISExbpFee PhoenixbpOrdersPrice spread, now +0.166%Rate

Funding earned: −$17.33
Price spread: +0.166% → +0.087%: $7.87
Slippage, 4 orders: −$2.36
Fee RISEx: 3 bp × 2 orders: −$6
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$24.82
Costs to cover: 0.154%
Break-even: never at this rate

Slippage from RISEx: live order book, 4 min ago; Phoenix: live order book, 9 min ago.

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 RISEx live order book, 4 min ago	0.02 bp	3.0 bp −$3	3.9 bp −$39	279.9 bp −$28.0K	doesn't fit
Sell Phoenix live order book, 9 min ago	0.18 bp	3.8 bp −$4	6.9 bp −$69	15.8 bp −$1,583	doesn't fit

ETH on 54 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
ApeX Omni ETHUSDT	−0.0362%	1h	2,743	−0.030%	$8.7M	$31.1M	100x	as long as short
Perpl ETH	−0.0112%	43m	2,743.4	−0.017%	$306K	$5.6M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,745.2	+0.050%	$5K	$1K	50x	as long as short
Injective ETH/USDC PERP	−0.0044%	1h	2,744.1	+0.009%	$118K	$22.5M	52x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,743.5	−0.013%	$12.1M	—	200x	as long as short
Phoenix ETHshort	−0.0006%	1h	2,748.4	+0.166%	$847K	$2.9M	25x
dYdX ETH-USD	0.0000%	1h	2,744.1	+0.008%	$10.8M	$41.8M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,743.4	−0.015%	$22.2M	—	200x	as long as short
BingX ETH-USDC	+0.0043%	8h	2,744.1	+0.010%	—	$18.5M	—	as long as short
01 Exchange ETHUSD	+0.0048%	1h	2,744.4	+0.020%	$183K	$925K	50x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0055%	8h	2,742.9	−0.036%	$1.70B	$10.55B	100x	as long as short
KuCoin ETHUSDTM	+0.0065%	8h	2,742.7	−0.041%	$368.7M	$596.0M	100x	as long as short
Aster ETHUSDT	+0.0074%	8h	2,744.6	+0.026%	$252.3M	$840.5M	200x	as long as short
RISEx ETH/USDClong	+0.0077%	1h	2,743.8	long leg	$5.7M	$11.2M	25x
Aevo ETH-PERP	+0.0080%	1h	2,740.7	−0.115%	$4.9M	$159K	20x	as long as short
MEXC ETH_USDT	+0.0082%	8h	2,742.9	−0.035%	$1.56B	$2.51B	500x	as long as short
Binance ETHUSDT	+0.0084%	8h	2,743.1	−0.028%	$6.38B	$15.72B	150x	as long as short
HTX ETH-USDT	+0.0092%	8h	2,744	+0.006%	$1.06B	$1.18B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,743.5	−0.014%	$112.8M	$430.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,744.8	+0.035%	$24.7M	$103.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,747.7	+0.140%	—	$30.9M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0096%	1h	2,745	+0.042%	$58.6M	$4.27B	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,746.9	+0.113%	$16.2M	$7.9M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,743.8	−0.001%	$484K	$3.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,744.2	+0.013%	$13.9M	$106.2M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,745.5	+0.060%	$3.12B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,743.7	−0.005%	$31.6M	$334.3M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,743.1	−0.028%	$2.46B	$4.17B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,743.5	−0.012%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,743.6	−0.011%	$2.7M	$16.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,743.3	−0.020%	$163.1M	$304.4M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,744.6	+0.027%	$3.39B	$8.64B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,743	−0.032%	$2.08B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,744.1	+0.008%	$15.0M	$41.1M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,748	+0.153%	$132.7M	$342.3M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,742.9	−0.034%	$181.7M	$689.5M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,743.2	−0.023%	$159.5M	$81.2M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,748.5	+0.170%	$21.2M	$69.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,744.8	+0.033%	—	$819K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,743.5	−0.012%	$10.7M	$8.4M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,743.2	−0.024%	$182K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,743.6	−0.010%	$21K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,744.8	+0.033%	$41.6M	$29.6M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,742.1	−0.064%	$961K	$11.9M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,743.4	−0.016%	$54.6M	$187.5M	40x	as long as short
Deribit ETH-PERPETUAL	+0.0100%	1h	2,744.6	+0.029%	$258.9M	$195.5M	50x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,744.2	+0.012%	$267.1M	$65.2M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,744.2	+0.014%	$30.6M	$72.5M	50x	as long as short
Aftermath Perps ETHUSD	+0.0108%	1h	2,746.4	+0.094%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0149%	8h	2,744.8	+0.035%	$7.7M	$669.1M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0183%	8h	2,745.5	+0.061%	$32.3M	$11.0M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0221%	1h	2,744.5	+0.026%	$88.0M	$309.1M	100x	as long as short
Reya ETHRUSDPERP	+0.0224%	1h	2,742.4	−0.051%	$7.3M	$1.1M	25x	as long as short
Hibachi ETH/USDT-P	+0.0232%	1h	2,749.7	+0.212%	$250K	$1.4M	20x	as long as short