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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 23:00 UTC+0.0069%/8h= +7.5% APRpaid last 24h 0.000%
Price spread now: Backpack against Aster+0.028%7-day average −0.010% · you sell dearer than you buy
Net, funding: paid 7d − costs−$10as in the Funding arb table
Net, price: spread back to 7d avg − costs−$14as in the Price arb table
costs, in and out, $10k−$180.181% of the position
Long on AsterShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 7 days+0.081%+$8 on $10k
Price spread, last 7 days−0.642%−$64 · spread now +0.028%, 7d avg −0.010%
Together, before fees−0.562%+ Points / potential airdropAster: Stage 5 · farm board−$56 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Backpack is 0.038% dearer against Aster than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.010%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongAster ETHUSDT2,771.30.0031pay 0.0031% / 8h1h 51m$256.3M$993.1M200x
ShortBackpack ETH_USDC_PERP2,772.10.0100get 0.0013% / 1h51m 34s$15.2M$44.0M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against Aster. 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
$14.42
Price spread: +0.028% → −0.010%
$3.8
Slippage, 4 orders
−$0.07
Fee Aster: 4 bp × 2 orders
−$8
Fee Backpack: 5 bp × 2 orders
−$10
Net
$0.15
Costs to cover
0.181%
Break-even
6.9 days
Slippage from Aster: live order book, 3 min ago; Backpack: live order book, 3 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 Aster live order book, 3 min ago0.02 bp4.0 bp −$44.3 bp −$436.0 bp −$60110.3 bp −$5,163
Sell Backpack live order book, 3 min ago0.02 bp5.0 bp −$56.4 bp −$6429.5 bp −$2,945doesn'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%43m2,772.5+0.044%$289K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,770.6−0.024%$5.7M$12.1M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,771.8+0.018%$5K$2K50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,773.2+0.068%$119K$22.5M52xas long as short
01 Exchange ETHUSD−0.0040%1h2,770.9−0.015%$169K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0001%1h2,772.4+0.041%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,771.2−0.004%$12.7M$45.5M50xas long as short
Phoenix ETH0.0000%1h2,775.6+0.155%$886K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,771.7+0.013%$22.4M—200xas long as short
BingX ETH-USDC+0.0018%8h2,770.3−0.038%—$17.3M—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0022%8h2,770.2−0.039%$1.71B$11.84B100xas long as short
Phemex ETHUSDT+0.0023%8h2,771.1−0.007%$267.0M$65.7M150xas long as short
GMX ETH/USD [ETH-USDC]L +0.0028% / S +0.0009%1h2,772+0.024%$13.2M—200xas long as short
Aster ETHUSDTlong+0.0031%8h2,771.3long leg$256.3M$993.1M200x
Hibachi ETH/USDT-P+0.0040%1h2,773.7+0.085%$276K$1.5M20xas long as short
Bullet ETH-USD+0.0041%1h2,771.30.000%$182K$1.8M20xas long as short
Nado ETH-PERP+0.0041%1h2,772.1+0.027%$14.3M$118.8M50xas long as short
MEXC ETH_USDT+0.0053%8h2,770.3−0.036%$1.61B$2.63B500xas long as short
Binance ETHUSDT+0.0053%8h2,770.5−0.028%$6.43B$17.16B150xas long as short
Aevo ETH-PERP+0.0056%1h2,770.2−0.041%$5.0M$636K20xas long as short
SoDEX ETH-USD+0.0073%1h2,771.30.000%$55.2M$228.6M40xas long as short
Bitget ETHUSDT+0.0073%8h2,770.4−0.031%$2.10B$3.11B150xas long as short
Gate ETH_USDT+0.0082%8h2,771.3+0.001%$3.29B$9.54B200xas long as short
Deribit ETH-PERPETUAL+0.0093%1h2,773.2+0.070%$258.4M$224.9M50xas long as short
Lighter ETH+0.0096%1h2,771.1−0.008%$114.9M$495.8M50xas long as short
Lighter RH ETH+0.0096%1h2,773.2+0.067%$25.4M$120.6M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,770.8−0.017%—$41.7M500xas long as short
HTX ETH-USDT+0.0098%8h2,771.1−0.007%$1.08B$1.32B200xas long as short
Variational Omni ETH+0.0098%8h2,772.1+0.030%$135.2M$326.5M—as long as short
Paradex ETH-USD-PERP+0.0100%8h2,770−0.047%$15.9M$10.6M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,771.2−0.004%$481K$2.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,773.7+0.086%$3.19B$2.38B25xas long as short
Pacifica ETH+0.0100%1h2,771.1−0.006%$31.2M$293.6M50xas long as short
Bybit ETHUSDT+0.0100%8h2,770.4−0.034%$2.51B$4.63B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,770−0.047%$2.8M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,772.4+0.040%$2.8M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,770.6−0.026%$166.0M$246.3M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,770.6−0.027%$423.8M$740.4M100xas long as short
Backpack ETH_USDC_PERPshort+0.0100%1h2,772.1+0.028%$15.2M$44.0M50x
edgeX ETHUSDC+0.0100%4h2,772.5+0.044%$179.7M$779.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,776.1+0.173%$161.5M$95.8M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,776.3+0.180%$8.7M$32.7M100xas long as short
StandX ETH-USD+0.0100%1h2,773.7+0.086%$21.4M$57.9M40xas long as short
Vest ETH-PERP+0.0100%1h2,773.1+0.066%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,774.1+0.101%$10.8M$7.7M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,772.1+0.027%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,773.9+0.093%$42.7M$29.3M15xas long as short
SunX ETH-USDT+0.0100%8h2,772.2+0.032%$973K$14.0M100xas long as short
Extended ETH-USD+0.0104%1h2,770.6−0.025%$31.4M$75.1M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,772.4+0.039%$59.9M$4.61B50xas long as short
Kalshi KXETHPERP+0.0108%8h2,772.3+0.036%$8.5M$673.4M4.9xas long as short
Orderly PERP_ETH_USDC+0.0138%8h2,773.7+0.085%$32.5M$12.0M100xas long as short
Kraken Futures PF_ETHUSD+0.0170%1h2,772.3+0.035%$86.1M$330.8M100xas long as short
BloFin ETH-USDT+0.0174%8h2,770.8−0.018%$286.0M$194.9M150xas long as short
Reya ETHRUSDPERP+0.0187%1h2,772.3+0.035%$7.4M$1.1M25xas long as short