Funding you earn now, next payment 12:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.004%
Price spread now: Kalshi against Variational Omni−0.087%7-day average −0.012% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.046%−$5 on $10k
+Price spread, last 7 days+0.113%+$11 · spread now −0.087%, 7d avg −0.012%
=Together, before fees+0.067%+ Points / potential airdropVariational Omni: Active · farm board+$7 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kalshi is 0.075% cheaper against Variational Omni than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.012%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni ETH | 2,730.8 | 0.0100 | pay 0.0100% / 8h | 7h 33m | $132.0M | $316.4M | — |
| Short | Kalshi KXETHPERP | 2,728.4 | 0 | get 0.0000% / 8h | 3h 33m | $6.7M | $669.8M | 4.9x |
Variational Omni ETH
Kalshi KXETHPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi against Variational Omni. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$21
- Price spread: −0.087% → −0.012%
- −$7.5
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- −$38.5
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Kalshi: live order book, 1 min ago. Net counts fees only.
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 Variational Omni RFQ quote, 1 min ago | 0.48 bp | doesn't fit | 0.5 bp −$5 | 1.7 bp −$172 | doesn't fit |
| Sell Kalshi live order book, 1 min ago | 1.10 bp | 6.7 bp −$7 | 7.8 bp −$78 | 11.2 bp −$1,118 | 17.9 bp −$8,957 |
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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin ETH-USDT | −0.0174% | 8h | 2,727 | −0.138% | $280.2M | $176.7M | 150x | as long as short |
| HTX ETH-USDT | −0.0113% | 8h | 2,726.5 | −0.156% | $1.05B | $1.21B | 200x | as long as short |
| Perpl ETH | −0.0112% | 43m | 2,731.1 | +0.012% | $277K | $5.7M | 8.3x | as long as short |
| Hotstuff ETH-PERP | −0.0080% | 1h | 2,727 | −0.138% | $5K | $1K | 50x | as long as short |
| Bybit ETHUSDT | −0.0060% | 8h | 2,726.6 | −0.154% | $2.31B | $4.29B | 150x | as long as short |
| SunX ETH-USDT | −0.0024% | 8h | 2,726.3 | −0.165% | $940K | $10.6M | 100x | as long as short |
| Phoenix ETH | −0.0012% | 1h | 2,732 | +0.045% | $806K | $3.0M | 25x | as long as short |
| GMX ETH/USD [ETH-USDC] | L −0.0010% / S +0.0043% | 1h | 2,727.4 | −0.123% | $11.9M | — | 200x | as long as short |
| dYdX ETH-USD | 0.0000% | 1h | 2,728 | −0.099% | $10.5M | $41.9M | 50x | as long as short |
| Kalshi KXETHPERPshort | 0.0000% | 8h | 2,728.4 | −0.087% | $6.7M | $669.8M | 4.9x |
BloFin ETH-USDT
HTX ETH-USDT
Perpl ETH
Hotstuff ETH-PERP
Bybit ETHUSDT
SunX ETH-USDT
Phoenix ETH
GMX ETH/USD [ETH-USDC]
dYdX ETH-USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit ETH-PERPETUAL | 0.0000% | 1h | 2,728.7 | −0.077% | $264.1M | $219.8M | 50x | as long as short |
| gTrade (Gains Network) ETH/USD | L +0.0007% / S −0.0006% | 1h | 2,728.3 | −0.092% | $32.9M | — | 200x | as long as short |
| Gate ETH_USDT | +0.0024% | 8h | 2,727.3 | −0.128% | $3.27B | $8.26B | 200x | as long as short |
| ApeX Omni ETHUSDT | +0.0025% | 1h | 2,731.7 | +0.033% | $8.4M | $31.2M | 100x | as long as short |
| 01 Exchange ETHUSD | +0.0040% | 1h | 2,727.8 | −0.109% | $194K | $889K | 50x | as long as short |
| Hibachi ETH/USDT-P | +0.0048% | 1h | 2,731.4 | +0.024% | $237K | $1.4M | 20x | as long as short |
| SoDEX ETH-USD | +0.0052% | 1h | 2,727.5 | −0.120% | $54.3M | $182.4M | 40x | as long as short |
| OKX ETH-USDT-SWAP | +0.0076% | 8h | 2,727.3 | −0.127% | $1.65B | $10.63B | 100x | as long as short |
| Aster ETHUSDT | +0.0076% | 8h | 2,727 | −0.137% | $252.3M | $843.2M | 200x | as long as short |
| Aevo ETH-PERP | +0.0080% | 1h | 2,727.8 | −0.108% | $4.9M | $195K | 20x | as long as short |
| KuCoin ETHUSDTM | +0.0083% | 8h | 2,727.2 | −0.132% | $382.8M | $573.1M | 100x | as long as short |
| MEXC ETH_USDT | +0.0087% | 8h | 2,727 | −0.138% | $1.57B | $2.56B | 500x | as long as short |
| Binance ETHUSDT | +0.0087% | 8h | 2,726.6 | −0.153% | $6.31B | $16.00B | 150x | as long as short |
| Bullet ETH-USD | +0.0089% | 1h | 2,727.2 | −0.131% | $176K | $1.7M | 20x | as long as short |
| Lighter ETH | +0.0096% | 1h | 2,728.4 | −0.088% | $112.4M | $401.6M | 50x | as long as short |
| Lighter RH ETH | +0.0096% | 1h | 2,729.6 | −0.043% | $23.7M | $96.1M | 50x | as long as short |
| Jupiter Perps ETH-PERP | L +0.0096% / S +0.0056% | 1h | 2,727.8 | −0.108% | — | $30.4M | 500x | as long as short |
| Phemex ETHUSDT | +0.0096% | 8h | 2,727.8 | −0.108% | $262.8M | $63.2M | 150x | as long as short |
| Katana Perps ETH-USD | +0.0100% | 8h | 2,727.4 | −0.123% | $497K | $3.6M | 50x | as long as short |
| Paradex ETH-USD-PERP | +0.0100% | 8h | 2,731 | +0.009% | $15.4M | $7.2M | 50x | as long as short |
| Nado ETH-PERP | +0.0100% | 1h | 2,727.3 | −0.128% | $14.3M | $101.0M | 50x | as long as short |
| Hyperliquid ETH | +0.0100% | 1h | 2,729.7 | −0.039% | $3.11B | $2.03B | 25x | as long as short |
| Pacifica ETH | +0.0100% | 1h | 2,728.3 | −0.090% | $32.1M | $333.3M | 50x | as long as short |
| Ondo Perps ETH-USD.P | +0.0100% | 1h | 2,726.8 | −0.145% | $2.7M | $16.3M | 25x | as long as short |
| Arcus ETH-USD | +0.0100% | 1h | 2,727.6 | −0.115% | $1.6M | $15.8M | 25x | as long as short |
| Bulk ETH-USD | +0.0100% | 1h | 2,729.4 | −0.050% | $164.7M | $339.6M | 25x | as long as short |
| Bitget ETHUSDT | +0.0100% | 8h | 2,727.5 | −0.120% | $2.11B | $2.73B | 150x | as long as short |
| BingX ETH-USDC | +0.0100% | 8h | 2,726.1 | −0.172% | — | $18.7M | — | as long as short |
| Backpack ETH_USDC_PERP | +0.0100% | 1h | 2,727.2 | −0.129% | $15.1M | $39.9M | 50x | as long as short |
| Variational Omni ETHlong | +0.0100% | 8h | 2,730.8 | long leg | $132.0M | $316.4M | — | |
| edgeX ETHUSDC | +0.0100% | 4h | 2,731 | +0.009% | $185.8M | $683.1M | 100x | as long as short |
| GRVT ETH_USDT_Perp | +0.0100% | 8h | 2,731.8 | +0.038% | $158.8M | $80.0M | 50x | as long as short |
| StandX ETH-USD | +0.0100% | 1h | 2,731.5 | +0.027% | $21.0M | $70.9M | 40x | as long as short |
| Vest ETH-PERP | +0.0100% | 1h | 2,729.8 | −0.034% | — | $436K | 50x | as long as short |
| Polymarket Perps ETH-USD | +0.0100% | 1h | 2,727.3 | −0.127% | $11.2M | $9.3M | 50x | as long as short |
| Derive ETH-PERP | +0.0100% | 1h | 2,732.9 | +0.077% | $40.6M | $29.2M | 15x | as long as short |
| Extended ETH-USD | +0.0104% | 1h | 2,726.5 | −0.158% | $30.5M | $71.0M | 50x | as long as short |
| Kraken Futures PF_ETHUSD | +0.0105% | 1h | 2,728.4 | −0.086% | $81.9M | $309.0M | 100x | as long as short |
| Aftermath Perps ETHUSD | +0.0118% | 1h | 2,731.1 | +0.014% | $30K | $20K | 20x | as long as short |
| Coinbase International ETH-PERP-INTX | +0.0120% | 1h | 2,728.6 | −0.080% | $45.9M | $4.22B | 50x | as long as short |
| RISEx ETH/USDC | +0.0137% | 1h | 2,728.2 | −0.096% | $5.7M | $11.4M | 25x | as long as short |
| Reya ETHRUSDPERP | +0.0172% | 1h | 2,729.3 | −0.052% | $7.3M | $972K | 25x | as long as short |
| Orderly PERP_ETH_USDC | +0.0184% | 8h | 2,729.1 | −0.060% | $32.2M | $10.9M | 100x | as long as short |
| Injective ETH/USDC PERP | +0.0253% | 1h | 2,735 | +0.155% | $117K | $21.0M | 52x | as long as short |
| Bluefin ETH-PERP | +0.1794% | 1h | 2,727.9 | −0.105% | $20K | $23K | 25x | as long as short |
Deribit ETH-PERPETUAL
gTrade (Gains Network) ETH/USD
Gate ETH_USDT
ApeX Omni ETHUSDT
01 Exchange ETHUSD
Hibachi ETH/USDT-P
SoDEX ETH-USD
OKX ETH-USDT-SWAP
Aster ETHUSDT
Aevo ETH-PERP
KuCoin ETHUSDTM
MEXC ETH_USDT
Binance ETHUSDT
Bullet ETH-USD
Lighter ETH
Lighter RH ETH
Jupiter Perps ETH-PERP
Phemex ETHUSDT
Katana Perps ETH-USD
Paradex ETH-USD-PERP
Nado ETH-PERP
Hyperliquid ETH
Pacifica ETH
Ondo Perps ETH-USD.P
Arcus ETH-USD
Bulk ETH-USD
Bitget ETHUSDT
BingX ETH-USDC
Backpack ETH_USDC_PERP
edgeX ETHUSDC
GRVT ETH_USDT_Perp
StandX ETH-USD
Vest ETH-PERP
Polymarket Perps ETH-USD
Derive ETH-PERP
Extended ETH-USD
Kraken Futures PF_ETHUSD
Aftermath Perps ETHUSD
Coinbase International ETH-PERP-INTX
RISEx ETH/USDC
Reya ETHRUSDPERP
Orderly PERP_ETH_USDC
Injective ETH/USDC PERP
Bluefin ETH-PERP