ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0037%/8h= −4.0% APRnext payment −$0.05 per $10,000 · paid last 24h −0.003%

Price spread now: Phoenix against SoDEX+0.014%7-day average +0.089% · 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−$24as in the Price arb table

costs, in and out, $10k−$170.167% of the position

Long on SoDEX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.009%+$1 on $10k

Price spread, last 3 days (all we have)+0.068%+$7 · spread now +0.014%, 7d avg +0.089%

Together, before fees+0.077%+$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phoenix is 0.074% cheaper against SoDEX than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.089%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX ETH-USD	2,770.7	0.0034	pay 0.0004% / 1h	29m 05s	$55.2M	$188.0M	40x
Short	Phoenix ETH	2,771.1	−0.0003	pay 0.0000% / 1h	29m 05s	$878K	$3.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against SoDEX. 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 SoDEXbpFee PhoenixbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$7.7
Price spread: +0.014% → +0.089%: −$7.43
Slippage, 4 orders: −$1.7
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$31.83
Costs to cover: 0.167%
Break-even: never at this rate

Slippage from SoDEX: live order book, 5 min ago; Phoenix: live order book, 5 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 SoDEX live order book, 5 min ago	0.18 bp	4.2 bp −$4	4.2 bp −$42	5.7 bp −$575	33.8 bp −$16.9K
Sell Phoenix live order book, 5 min ago	0.18 bp	4.3 bp −$4	7.8 bp −$78	17.1 bp −$1,706	doesn't fit

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
Injective ETH/USDC PERP	−0.0752%	1h	2,772.9	+0.079%	$119K	$22.5M	52x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,770.3	−0.016%	$5.6M	$11.1M	25x	as long as short
Perpl ETH	−0.0112%	43m	2,770	−0.025%	$320K	$6.3M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,770.2	−0.018%	$5K	$1K	50x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,770.2	−0.018%	$168K	$1.1M	50x	as long as short
Phoenix ETHshort	−0.0003%	1h	2,771.1	+0.014%	$878K	$3.7M	25x
dYdX ETH-USD	0.0000%	1h	2,770.4	−0.010%	$12.2M	$45.9M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,771.5	+0.027%	$22.4M	—	200x	as long as short
Phemex ETHUSDT	+0.0021%	8h	2,770.5	−0.007%	$269.6M	$67.5M	150x	as long as short
Bullet ETH-USD	+0.0022%	1h	2,770.5	−0.007%	$184K	$1.7M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0025%	8h	2,773.2	+0.090%	$1.71B	$11.19B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0025% / S +0.0009%	1h	2,771.2	+0.018%	$12.7M	—	200x	as long as short
SoDEX ETH-USDlong	+0.0034%	1h	2,770.7	long leg	$55.2M	$188.0M	40x
Aster ETHUSDT	+0.0041%	8h	2,771.6	+0.034%	$256.6M	$886.2M	200x	as long as short
MEXC ETH_USDT	+0.0054%	8h	2,770.5	−0.006%	$1.62B	$2.63B	500x	as long as short
Binance ETHUSDT	+0.0055%	8h	2,772.7	+0.071%	$6.49B	$16.34B	150x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,768.2	−0.089%	$5.0M	$165K	20x	as long as short
Aftermath Perps ETHUSD	+0.0067%	1h	2,771.6	+0.031%	$31K	$21K	20x	as long as short
Gate ETH_USDT	+0.0070%	8h	2,771.4	+0.027%	$3.36B	$9.00B	200x	as long as short
Bitget ETHUSDT	+0.0072%	8h	2,771	+0.010%	$2.10B	$2.87B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,771.8	+0.041%	$60.4M	$4.44B	50x	as long as short
Vest ETH-PERP	+0.0082%	1h	2,770.8	+0.003%	—	$876K	50x	as long as short
KuCoin ETHUSDTM	+0.0083%	8h	2,770.7	+0.001%	$420.3M	$628.1M	100x	as long as short
HTX ETH-USDT	+0.0092%	8h	2,770.9	+0.007%	$1.08B	$1.25B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,771.2	+0.018%	$115.2M	$457.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,772.4	+0.061%	$25.7M	$111.4M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,771.7	+0.037%	$15.9M	$8.7M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,770.2	−0.018%	$485K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,771.6	+0.033%	$14.7M	$114.4M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,773.3	+0.094%	$3.17B	$2.24B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,770.7	+0.001%	$31.2M	$325.2M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,773.2	+0.089%	$2.51B	$4.37B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,769.8	−0.032%	$2.8M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,771	+0.010%	$2.8M	$16.9M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,769.8	−0.031%	$171.6M	$277.9M	25x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,770.5	−0.007%	—	$17.3M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,771.3	+0.021%	$15.2M	$42.0M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,770.6	−0.004%	$140.2M	$345.2M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,770.3	−0.015%	$181.9M	$787.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,770.9	+0.008%	$161.1M	$84.5M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,771	+0.010%	$8.7M	$32.2M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,770.3	−0.014%	$21.4M	$63.7M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,770.4	−0.011%	$10.6M	$7.9M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,771.5	+0.029%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,773	+0.083%	$42.6M	$28.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,769.2	−0.053%	$971K	$13.2M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,770.3	−0.015%	$31.0M	$74.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,771.2	+0.020%	—	$36.9M	500x	as long as short
Deribit ETH-PERPETUAL	+0.0111%	1h	2,772.5	+0.064%	$259.1M	$206.9M	50x	as long as short
Kalshi KXETHPERP	+0.0111%	8h	2,771.9	+0.043%	$8.0M	$681.6M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,772.1	+0.050%	$96.0M	$319.5M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0150%	8h	2,773.7	+0.110%	$32.7M	$11.2M	100x	as long as short
Hibachi ETH/USDT-P	+0.0152%	1h	2,771	+0.010%	$253K	$1.5M	20x	as long as short
BloFin ETH-USDT	+0.0175%	8h	2,771.3	+0.020%	$287.7M	$182.0M	150x	as long as short
Reya ETHRUSDPERP	+0.0211%	1h	2,770.5	−0.006%	$7.3M	$1.2M	25x	as long as short