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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 UTC+0.0054%/8h= +5.9% APRnext payment +$0.07 per $10,000 · paid last 24h +0.001%
Price spread now: Bullet against ApeX Omni+0.007%66s7-day average +0.007% · 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—prices read too far apart to compare
costs, in and out, $10k−$200.205% of the position
Long on ApeX OmniShort on Bullet
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.068%+$7 on $10k
Price spread, last 7 days+0.012%+$1 · spread now +0.007%, 7d avg +0.007%
Together, before fees+0.080%+$8 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.007%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongApeX Omni ETHUSDT2,722.90.0046pay 0.0006% / 1h22m 26s$8.5M$31.5M100x
ShortBullet ETH-USD2,723.10.0100get 0.0013% / 1h22m 26s$183K$1.7M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bullet against ApeX Omni. 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
$11.34
Price spread: +0.007% → +0.007%
$0.04
Slippage, 4 orders
−$2.47
Fee ApeX Omni: 5 bp × 2 orders
−$10
Fee Bullet: 4 bp × 2 orders
−$8
Net
−$9.08
Costs to cover
0.205%
Break-even
12.6 days
Slippage from ApeX Omni: live order book, 2 min ago; Bullet: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy ApeX Omni live order book, 2 min ago0.63 bp5.6 bp −$68.0 bp −$8024.9 bp −$2,48852.3 bp −$26.1K
Sell Bullet live order book, 2 min ago0.18 bp4.8 bp −$58.8 bp −$88doesn't fitdoesn't fit

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%43m2,723.3+0.013%$277K$5.7M8.3xas long as short
BloFin ETH-USDT−0.0177%8h2,724.4+0.055%$281.4M$177.5M150xas long as short
Hotstuff ETH-PERP−0.0080%1h2,724+0.040%$5K$1K50xas long as short
Phoenix ETH−0.0015%1h2,724.3+0.051%$808K$3.0M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,723.5+0.022%$11.9M—200xas long as short
dYdX ETH-USD0.0000%1h2,723.6+0.025%$10.5M$41.9M50xas long as short
Kalshi KXETHPERP0.0000%8h2,723.3+0.015%$6.7M$680.0M4.9xas long as short
Deribit ETH-PERPETUAL0.0000%1h2,723.9+0.035%$262.2M$211.7M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,723.5+0.021%$32.9M—200xas long as short
BingX ETH-USDC+0.0017%8h2,722.5−0.014%—$18.6M—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit ETHUSDT+0.0020%8h2,722.8−0.003%$2.31B$4.34B150xas long as short
HTX ETH-USDT+0.0030%8h2,723.5+0.024%$1.05B$1.22B200xas long as short
01 Exchange ETHUSD+0.0032%1h2,724.1+0.044%$190K$884K50xas long as short
ApeX Omni ETHUSDTlong+0.0046%1h2,722.9long leg$8.5M$31.5M100x
Hibachi ETH/USDT-P+0.0048%1h2,724.4+0.054%$241K$1.4M20xas long as short
Injective ETH/USDC PERP+0.0050%1h2,722.90.000%$117K$21.2M52xas long as short
Kraken Futures PF_ETHUSD+0.0060%1h2,723.6+0.026%$81.7M$310.7M100xas long as short
OKX ETH-USDT-SWAP+0.0071%8h2,723+0.004%$1.65B$10.78B100xas long as short
KuCoin ETHUSDTM+0.0072%8h2,723.4+0.019%$381.7M$577.6M100xas long as short
Aster ETHUSDT+0.0076%8h2,722.90.000%$252.3M$847.6M200xas long as short
MEXC ETH_USDT+0.0088%8h2,723.3+0.014%$1.58B$2.58B500xas long as short
Aevo ETH-PERP+0.0088%1h2,720.9−0.075%$4.9M$172K20xas long as short
Binance ETHUSDT+0.0088%8h2,723.3+0.014%$6.30B$16.13B150xas long as short
SoDEX ETH-USD+0.0095%1h2,723+0.004%$54.2M$182.7M40xas long as short
Lighter ETH+0.0096%1h2,724.5+0.059%$112.0M$432.5M50xas long as short
Lighter RH ETH+0.0096%1h2,725.7+0.104%$23.4M$102.4M50xas long as short
Aftermath Perps ETHUSD+0.0099%1h2,724.6+0.064%$30K$20K20xas long as short
Katana Perps ETH-USD+0.0100%8h2,723.5+0.022%$499K$3.6M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,728.2+0.195%$15.3M$7.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,723.2+0.012%$14.0M$104.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,725.6+0.099%$3.10B$2.04B25xas long as short
Pacifica ETH+0.0100%1h2,724.9+0.072%$31.9M$333.5M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,723.3+0.015%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,724.1+0.046%$1.6M$16.0M25xas long as short
Gate ETH_USDT+0.0100%8h2,723.2+0.011%$3.31B$8.92B200xas long as short
Bitget ETHUSDT+0.0100%8h2,723.3+0.014%$2.10B$2.76B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,724+0.039%$15.0M$40.5M50xas long as short
Variational Omni ETH+0.0100%8h2,722−0.034%$133.5M$316.5M—as long as short
edgeX ETHUSDC+0.0100%4h2,722.4−0.020%$185.2M$681.7M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,722.8−0.002%$158.2M$81.9M50xas long as short
StandX ETH-USD+0.0100%1h2,723.1+0.007%$20.9M$70.2M40xas long as short
Vest ETH-PERP+0.0100%1h2,724.9+0.074%—$445K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,725+0.077%$11.2M$9.4M50xas long as short
Bullet ETH-USDshort+0.0100%1h2,723.1+0.007%$183K$1.7M20x
Derive ETH-PERP+0.0100%1h2,723.5+0.022%$40.8M$29.9M15xas long as short
SunX ETH-USDT+0.0100%8h2,722.6−0.011%$955K$10.8M100xas long as short
Phemex ETHUSDT+0.0100%8h2,724.2+0.047%$262.5M$64.4M150xas long as short
Bulk ETH-USD+0.0100%1h2,727.2+0.157%$162.8M$356.2M25xas long as short
Extended ETH-USD+0.0104%1h2,722.3−0.022%$30.4M$71.7M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0056%1h2,723.5+0.023%—$30.2M500xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,724.3+0.052%$46.6M$4.27B50xas long as short
RISEx ETH/USDC+0.0114%1h2,724.2+0.046%$5.6M$11.7M25xas long as short
Reya ETHRUSDPERP+0.0180%1h2,722.4−0.019%$7.3M$972K25xas long as short
Orderly PERP_ETH_USDC+0.0184%8h2,725.4+0.092%$32.1M$11.2M100xas long as short
Bluefin ETH-PERP+0.0488%1h2,723.8+0.032%$20K$23K25xas long as short