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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−0.0143%/8h= −15.7% APRpaid last 24h −0.037%
Price spread now: GMX against SunX+0.014%7-day average +0.049% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on SunXShort on GMX
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.016%−$2 on $10k
Price spread, last 4 days (all we have)+0.359%+$36 · spread now +0.014%, 7d avg +0.049%
Together, before fees+0.343%+$34 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and GMX is 0.035% cheaper against SunX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.049%). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongSunX ETH-USDT2,7450.0100pay 0.0100% / 8h5h 10m$963K$11.4M100x
ShortGMX ETH/USD [ETH-USDC]2,745.4L −0.0010% / S +0.0043%pay 0.0005% / 1h10m 55s$12.1M—200x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

GMX against SunX. 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
−$30.05
Price spread: +0.014% → +0.049%
−$3.52
Slippage, 4 orders
no order book: not counted
Fee SunX: 4 bp × 2 orders
−$8
Fee GMX: 6 bp × 2 orders
−$12
Net
−$53.57
Costs to cover
0.200%
Break-even
never at this rate
Slippage unknown: SunX: live order book, 8 min ago; GMX: 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 SunX live order book, 8 min ago0.20 bp6.3 bp −$66.8 bp −$689.6 bp −$96014.7 bp −$7,338
Sell GMX no order-book sample—————
GMX: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hotstuff ETH-PERP−0.0080%1h2,743.2−0.067%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,735.6−0.344%$117K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]shortL −0.0010% / S +0.0043%1h2,745.4+0.014%$12.1M—200x
dYdX ETH-USD0.0000%1h2,743.2−0.067%$10.8M$41.7M50xas long as short
Perpl ETH0.0000%43m2,744.1−0.034%$305K$5.6M8.3xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,745.6+0.022%$25.1M—200xas long as short
Phoenix ETH+0.0017%1h2,746.8+0.064%$848K$2.9M25xas long as short
01 Exchange ETHUSD+0.0024%1h2,745−0.001%$182K$836K50xas long as short
ApeX Omni ETHUSDT+0.0032%1h2,744.4−0.023%$8.8M$30.7M100xas long as short
BingX ETH-USDC+0.0054%8h2,746.6+0.055%—$18.4M—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0068%8h2,746.6+0.055%$1.71B$10.56B100xas long as short
KuCoin ETHUSDTM+0.0071%8h2,746.6+0.057%$382.3M$575.3M100xas long as short
Bullet ETH-USD+0.0074%1h2,745−0.003%$182K$1.7M20xas long as short
RISEx ETH/USDC+0.0077%1h2,745.3+0.008%$5.6M$11.4M25xas long as short
Aster ETHUSDT+0.0087%8h2,746.7+0.061%$254.1M$841.0M200xas long as short
SoDEX ETH-USD+0.0091%1h2,745.4+0.013%$54.7M$187.6M40xas long as short
Binance ETHUSDT+0.0094%8h2,747+0.073%$6.39B$15.68B150xas long as short
MEXC ETH_USDT+0.0095%8h2,746.8+0.065%$1.57B$2.56B500xas long as short
Lighter ETH+0.0096%1h2,745.8+0.028%$112.9M$435.6M50xas long as short
Lighter RH ETH+0.0096%1h2,747.1+0.077%$24.7M$104.2M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,742.8−0.079%—$30.4M500xas long as short
Aevo ETH-PERP+0.0096%1h2,744.6−0.014%$4.9M$154K20xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,746.2+0.041%$56.0M$4.26B50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,747+0.073%$16.0M$7.9M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,744.4−0.023%$469K$3.1M50xas long as short
Nado ETH-PERP+0.0100%1h2,744.5−0.019%$13.9M$104.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,748.2+0.115%$3.12B$2.06B25xas long as short
Pacifica ETH+0.0100%1h2,744.4−0.023%$31.7M$334.5M50xas long as short
Bybit ETHUSDT+0.0100%8h2,746.8+0.066%$2.45B$4.17B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,742.7−0.085%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,745.4+0.013%$2.8M$16.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,746.6+0.056%$165.7M$303.2M25xas long as short
Gate ETH_USDT+0.0100%8h2,747.2+0.080%$3.40B$8.77B200xas long as short
Bitget ETHUSDT+0.0100%8h2,746.8+0.066%$2.09B$2.72B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,745.5+0.017%$15.0M$39.4M50xas long as short
Variational Omni ETH+0.0100%8h2,743.1−0.070%$133.1M$325.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,743.6−0.054%$182.4M$665.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,743.7−0.048%$159.6M$83.5M50xas long as short
StandX ETH-USD+0.0100%1h2,744−0.038%$21.2M$67.9M40xas long as short
Vest ETH-PERP+0.0100%1h2,745.1+0.001%—$815K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,745.8+0.028%$11.0M$8.8M50xas long as short
Derive ETH-PERP+0.0100%1h2,747.5+0.089%$41.5M$29.6M15xas long as short
SunX ETH-USDTlong+0.0100%8h2,745long leg$963K$11.4M100x
HTX ETH-USDT+0.0100%8h2,744.7−0.011%$1.06B$1.17B200xas long as short
Phemex ETHUSDT+0.0100%8h2,745.4+0.014%$266.8M$64.9M150xas long as short
Extended ETH-USD+0.0104%1h2,745.9+0.033%$30.7M$71.9M50xas long as short
Aftermath Perps ETHUSD+0.0133%1h2,745.5+0.017%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0159%8h2,744.5−0.019%$7.7M$670.4M4.9xas long as short
Orderly PERP_ETH_USDC+0.0195%8h2,747.9+0.105%$32.3M$11.4M100xas long as short
BloFin ETH-USDT+0.0218%8h2,745.4+0.012%$285.8M$180.2M150xas long as short
Kraken Futures PF_ETHUSD+0.0221%1h2,746.3+0.046%$86.6M$310.0M100xas long as short
Reya ETHRUSDPERP+0.0227%1h2,744.1−0.035%$7.3M$1.2M25xas long as short
Deribit ETH-PERPETUAL+0.0231%1h2,747+0.072%$259.8M$195.3M50xas long as short
Hibachi ETH/USDT-P+0.0256%1h2,745.3+0.011%$252K$1.4M20xas long as short
Bluefin ETH-PERP+0.0402%1h2,745.7+0.025%$21K$20K25xas long as short