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Funding arb · Price arb /

ETH

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Alert: spread
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Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%
Price spread now: Arcus against Backpack−0.009%7-day average +0.030% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$160.161% of the position
Long on BackpackShort on Arcus
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)0.000%$0 on $10k
Price spread, last 7 days+0.659%+$66 · spread now −0.009%, 7d avg +0.030%
Together, before fees+0.659%+$66 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: Arcus is 0.039% cheaper against Backpack than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.030%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack ETH_USDC_PERP2,772.50.0100pay 0.0013% / 1h11m 42s$15.1M$44.1M50x
ShortArcus ETH-USD2,772.30.0100get 0.0013% / 1h11m 42s$2.7M$17.5M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Arcus against Backpack. 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
$0
Price spread: −0.009% → +0.030%
−$3.89
Slippage, 4 orders
−$1.57
Fee Backpack: 5 bp × 2 orders
−$10
Fee Arcus: 2.25 bp × 2 orders
−$4.5
Net
−$19.96
Costs to cover
0.161%
Break-even
never at this rate
Slippage from Backpack: live order book, 2 min ago; Arcus: 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 Backpack live order book, 2 min ago0.02 bp5.0 bp −$56.1 bp −$6126.0 bp −$2,599doesn't fit
Sell Arcus live order book, 2 min ago0.56 bp2.8 bp −$33.3 bp −$334.7 bp −$465doesn'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%43m2,772.9+0.014%$287K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,772.4−0.006%$5.7M$11.8M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,773.1+0.020%$5K$2K50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,779.6+0.255%$119K$22.5M52xas long as short
01 Exchange ETHUSD−0.0040%1h2,772.9+0.013%$169K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0002%1h2,775.7+0.113%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,772.4−0.005%$12.7M$45.6M50xas long as short
Phoenix ETH0.0000%1h2,775.9+0.121%$885K$3.7M25xas long as short
Deribit ETH-PERPETUAL+0.0002%1h2,774+0.052%$258.5M$222.4M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,773.4+0.030%$22.4M—200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0015%8h2,770.4−0.078%—$17.4M—as long as short
OKX ETH-USDT-SWAP+0.0018%8h2,770.7−0.067%$1.70B$11.84B100xas long as short
Phemex ETHUSDT+0.0024%8h2,772.5−0.001%$269.8M$68.6M150xas long as short
GMX ETH/USD [ETH-USDC]L +0.0027% / S +0.0009%1h2,773.2+0.025%$12.9M—200xas long as short
Bullet ETH-USD+0.0028%1h2,772.4−0.004%$181K$1.7M20xas long as short
Aster ETHUSDT+0.0034%8h2,771.9−0.023%$255.7M$992.4M200xas long as short
Nado ETH-PERP+0.0060%1h2,772.3−0.008%$14.2M$118.2M50xas long as short
Binance ETHUSDT+0.0063%8h2,771.4−0.041%$6.43B$17.21B150xas long as short
MEXC ETH_USDT+0.0064%8h2,770.7−0.066%$1.61B$2.68B500xas long as short
Aevo ETH-PERP+0.0064%1h2,770.9−0.060%$5.0M$636K20xas long as short
SoDEX ETH-USD+0.0065%1h2,772.4−0.005%$55.2M$228.9M40xas long as short
ApeX Omni ETHUSDT+0.0066%1h2,775.6+0.109%$8.8M$32.6M100xas long as short
Bitget ETHUSDT+0.0068%8h2,770.9−0.060%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0073%8h2,771.9−0.023%$3.29B$9.66B200xas long as short
HTX ETH-USDT+0.0092%8h2,772.5−0.002%$1.08B$1.32B200xas long as short
Bybit ETHUSDT+0.0092%8h2,771−0.055%$2.51B$4.62B150xas long as short
Lighter ETH+0.0096%1h2,772.2−0.011%$114.9M$502.5M50xas long as short
Lighter RH ETH+0.0096%1h2,773.5+0.036%$25.3M$121.7M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,773.4+0.032%—$41.6M500xas long as short
KuCoin ETHUSDTM+0.0097%8h2,771.6−0.032%$422.0M$738.9M100xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,771.3−0.045%$15.9M$10.5M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,773.1+0.020%$477K$2.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,774.3+0.063%$3.19B$2.36B25xas long as short
Pacifica ETH+0.0100%1h2,771.9−0.022%$31.2M$302.0M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,770.3−0.081%$2.8M$17.0M25xas long as short
Arcus ETH-USDshort+0.0100%1h2,772.3−0.009%$2.7M$17.5M25x
Bulk ETH-USD+0.0100%1h2,778.9+0.230%$165.9M$253.8M25xas long as short
Backpack ETH_USDC_PERPlong+0.0100%1h2,772.5long leg$15.1M$44.1M50x
Variational Omni ETH+0.0100%8h2,774.7+0.080%$141.6M$331.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,775.7+0.114%$181.7M$784.8M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,775.8+0.116%$161.4M$91.4M50xas long as short
StandX ETH-USD+0.0100%1h2,773.5+0.035%$21.4M$58.2M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,773.8+0.045%$10.8M$7.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,773.5+0.034%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,774.9+0.084%$42.7M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,771.9−0.022%$972K$14.0M100xas long as short
Vest ETH-PERP+0.0100%1h2,773.2+0.023%—$1.1M50xas long as short
Extended ETH-USD+0.0104%1h2,771.5−0.038%$32.6M$77.7M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,773.6+0.037%$59.7M$4.60B50xas long as short
Kalshi KXETHPERP+0.0125%8h2,773.4+0.031%$8.4M$680.5M4.9xas long as short
Orderly PERP_ETH_USDC+0.0136%8h2,775.2+0.094%$32.5M$12.0M100xas long as short
Kraken Futures PF_ETHUSD+0.0170%1h2,773.4+0.030%$86.0M$332.4M100xas long as short
BloFin ETH-USDT+0.0184%8h2,772.5−0.001%$283.9M$194.3M150xas long as short
Reya ETHRUSDPERP+0.0194%1h2,772.3−0.008%$7.4M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,773.9+0.050%$270K$1.5M20xas long as short