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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 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%
Price spread now: Bybit against Variational Omni−0.082%7-day average −0.006% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on Variational OmniShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.015%−$1 on $10k
Price spread, last 7 days+0.094%+$9 · spread now −0.082%, 7d avg −0.006%
Together, before fees+0.079%+ Points / potential airdropVariational Omni: Active · farm board+$8 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.077% cheaper against Variational Omni than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.006%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongVariational Omni ETH2,734.90.0100pay 0.0100% / 8h4h 50m$133.1M$324.8M—
ShortBybit ETHUSDT2,732.70.0100get 0.0100% / 8h4h 50m$2.43B$4.21B150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$0
Price spread: −0.082% → −0.006%
−$7.65
Slippage, 4 orders
no order book: not counted
Fee Variational Omni: 0 bp × 2 orders
$0
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$18.65
Costs to cover
0.110%
Break-even
never at this rate
Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Bybit: live order book, 4 min ago. 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 Variational Omni RFQ quote, 4 min ago0.55 bpdoesn't fit0.5 bp −$52.5 bp −$248doesn't fit
Sell Bybit live order book, 4 min ago0.02 bp5.5 bp −$66.7 bp −$677.2 bp −$7249.1 bp −$4,566

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
Perpl ETH−0.0447%43m2,734.7−0.009%$300K$5.5M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,739.3+0.161%$118K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,738.1+0.117%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,735+0.005%$12.0M—200xas long as short
dYdX ETH-USD0.0000%1h2,734.9+0.001%$10.8M$41.7M50xas long as short
01 Exchange ETHUSD0.0000%1h2,735+0.004%$181K$833K50xas long as short
Phoenix ETH0.0000%1h2,741.2+0.230%$832K$2.9M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,735+0.005%$25.7M—200xas long as short
Bullet ETH-USD+0.0045%1h2,734.5−0.014%$180K$1.7M20xas long as short
SoDEX ETH-USD+0.0050%1h2,734.3−0.022%$54.5M$187.6M40xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0055%8h2,733.6−0.048%—$18.4M—as long as short
OKX ETH-USDT-SWAP+0.0071%8h2,732.6−0.085%$1.68B$10.61B100xas long as short
KuCoin ETHUSDTM+0.0072%8h2,734.5−0.014%$380.7M$573.6M100xas long as short
Aster ETHUSDT+0.0084%8h2,734.4−0.018%$252.8M$841.0M200xas long as short
Aevo ETH-PERP+0.0088%1h2,732.1−0.104%$4.9M$154K20xas long as short
MEXC ETH_USDT+0.0091%8h2,734−0.033%$1.56B$2.53B500xas long as short
Binance ETHUSDT+0.0091%8h2,733.6−0.047%$6.35B$15.72B150xas long as short
Lighter ETH+0.0096%1h2,734.8−0.002%$112.5M$432.6M50xas long as short
Lighter RH ETH+0.0096%1h2,735.9+0.036%$24.1M$103.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,735.6+0.027%—$30.5M500xas long as short
RISEx ETH/USDC+0.0099%1h2,735.3+0.015%$5.6M$11.4M25xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,739.9+0.183%$15.8M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,734−0.033%$499K$3.2M50xas long as short
Nado ETH-PERP+0.0100%1h2,734.5−0.014%$13.9M$104.5M50xas long as short
Hyperliquid ETH+0.0100%1h2,736.2+0.048%$3.10B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,736+0.040%$31.6M$335.1M50xas long as short
Bybit ETHUSDTshort+0.0100%8h2,732.7−0.082%$2.43B$4.21B150x
Ondo Perps ETH-USD.P+0.0100%1h2,734.3−0.022%$2.7M$16.9M25xas long as short
Arcus ETH-USD+0.0100%1h2,735.1+0.006%$2.8M$16.0M25xas long as short
Bulk ETH-USD+0.0100%1h2,740.8+0.214%$166.9M$306.7M25xas long as short
Gate ETH_USDT+0.0100%8h2,734.5−0.014%$3.38B$8.69B200xas long as short
Bitget ETHUSDT+0.0100%8h2,734.2−0.027%$2.07B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,733.8−0.039%$15.0M$39.6M50xas long as short
Variational Omni ETHlong+0.0100%8h2,734.9long leg$133.1M$324.8M—
edgeX ETHUSDC+0.0100%4h2,738+0.113%$182.0M$665.6M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,739+0.149%$159.4M$84.4M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,738+0.112%$8.7M$30.7M100xas long as short
StandX ETH-USD+0.0100%1h2,736+0.040%$21.1M$69.6M40xas long as short
Vest ETH-PERP+0.0100%1h2,735.9+0.036%—$843K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,736+0.040%$10.9M$8.8M50xas long as short
Derive ETH-PERP+0.0100%1h2,735.9+0.038%$41.3M$29.7M15xas long as short
SunX ETH-USDT+0.0100%8h2,734.1−0.028%$959K$11.4M100xas long as short
HTX ETH-USDT+0.0100%8h2,734.2−0.025%$1.06B$1.18B200xas long as short
Phemex ETHUSDT+0.0100%8h2,734.4−0.017%$265.7M$65.2M150xas long as short
Extended ETH-USD+0.0104%1h2,733.5−0.051%$30.6M$72.4M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,735.7+0.031%$51.2M$4.26B50xas long as short
Aftermath Perps ETHUSD+0.0120%1h2,738.6+0.135%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0156%8h2,735.5+0.022%$7.7M$673.3M4.9xas long as short
Deribit ETH-PERPETUAL+0.0185%1h2,736+0.040%$260.0M$194.7M50xas long as short
Orderly PERP_ETH_USDC+0.0194%8h2,736.6+0.061%$32.2M$11.4M100xas long as short
BloFin ETH-USDT+0.0211%8h2,735.5+0.023%$285.2M$172.6M150xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,735.1+0.008%$85.4M$310.4M100xas long as short
Reya ETHRUSDPERP+0.0224%1h2,733.9−0.037%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,736.9+0.072%$251K$1.4M20xas long as short
Bluefin ETH-PERP+0.1204%1h2,735+0.005%$21K$20K25xas long as short