ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0033%/8h= −3.7% APRnext payment −$0.04 per $10,000 · paid last 24h −0.010%

Price spread now: SoDEX against Backpack−0.008%50s7-day average −0.004% · 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—prices read too far apart to compare

costs, in and out, $10k−$190.185% of the position

Long on Backpack Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.028%−$3 on $10k

Price spread, last 4 days (all we have)−0.020%−$2 · spread now −0.008%, 7d avg −0.004%

Together, before fees−0.048%−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.004%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ETH_USDC_PERP	2,725.1	0.0100	pay 0.0013% / 1h	34m 19s	$15.0M	$41.9M	50x
Short	SoDEX ETH-USD	2,724.9	0.0067	get 0.0008% / 1h	34m 19s	$54.3M	$187.3M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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

Position, each leg$Hold fordaysFee BackpackbpFee SoDEXbpOrdersPrice spread, now −0.008%Rate

Funding earned: −$7.02
Price spread: −0.008% → −0.004%: −$0.41
Slippage, 4 orders: −$0.51
Fee Backpack: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$25.94
Costs to cover: 0.185%
Break-even: never at this rate

Slippage from Backpack: live order book, 5 min ago; SoDEX: live order book, 5 min ago.

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 Backpack live order book, 5 min ago	0.02 bp	5.0 bp −$5	7.1 bp −$71	29.3 bp −$2,930	doesn't fit
Sell SoDEX live order book, 5 min ago	0.18 bp	4.2 bp −$4	4.2 bp −$42	5.8 bp −$582	34.3 bp −$17.1K

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
Perpl ETH	−0.0112%	43m	2,725.3	+0.008%	$288K	$5.8M	8.3x	as long as short
ApeX Omni ETHUSDT	−0.0087%	1h	2,726.4	+0.045%	$8.6M	$31.4M	100x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,725.7	+0.021%	$5K	$1K	50x	as long as short
Injective ETH/USDC PERP	−0.0040%	1h	2,727.6	+0.091%	$117K	$22.5M	52x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,725.8	+0.026%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,727.4	+0.084%	$816K	$3.0M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,725.9	+0.027%	$10.5M	$42.9M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,725.8	+0.025%	$6.7M	$688.7M	4.9x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,725.8	+0.024%	$262.6M	$215.2M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,725.6	+0.018%	$32.9M	—	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX ETH-USDT	+0.0010%	8h	2,724.7	−0.015%	$1.05B	$1.23B	200x	as long as short
01 Exchange ETHUSD	+0.0024%	1h	2,725.9	+0.029%	$192K	$895K	50x	as long as short
BingX ETH-USDT	+0.0027%	8h	2,725	−0.005%	—	$1.11B	—	as long as short
Bybit ETHUSDT	+0.0033%	8h	2,725.8	+0.023%	$2.34B	$4.41B	150x	as long as short
SoDEX ETH-USDshort	+0.0067%	1h	2,724.9	−0.008%	$54.3M	$187.3M	40x
KuCoin ETHUSDTM	+0.0071%	8h	2,724.7	−0.014%	$375.9M	$577.1M	100x	as long as short
Aster ETHUSDT	+0.0082%	8h	2,725.8	+0.024%	$252.0M	$849.0M	200x	as long as short
SunX ETH-USDT	+0.0085%	8h	2,724.7	−0.015%	$954K	$11.0M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0087%	8h	2,725.9	+0.030%	$1.65B	$10.91B	100x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,722.5	−0.097%	$4.9M	$167K	20x	as long as short
Aftermath Perps ETHUSD	+0.0088%	1h	2,726.7	+0.057%	$30K	$20K	20x	as long as short
Binance ETHUSDT	+0.0090%	8h	2,725.3	+0.006%	$6.32B	$16.15B	150x	as long as short
MEXC ETH_USDT	+0.0090%	8h	2,726	+0.032%	$1.52B	$2.59B	500x	as long as short
Lighter ETH	+0.0096%	1h	2,726.3	+0.043%	$112.0M	$434.1M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,727.5	+0.086%	$23.4M	$103.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,725	−0.004%	$509K	$3.5M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,728.9	+0.138%	$15.3M	$8.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,724.7	−0.015%	$14.1M	$105.2M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,727.4	+0.082%	$3.10B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,726.3	+0.042%	$31.9M	$333.7M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,724.3	−0.030%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,725.7	+0.022%	$1.5M	$16.2M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,727.3	+0.079%	$162.4M	$353.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,725.1	0.000%	$3.29B	$8.98B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,725.1	−0.001%	$2.08B	$2.78B	150x	as long as short
Backpack ETH_USDC_PERPlong	+0.0100%	1h	2,725.1	long leg	$15.0M	$41.9M	50x
Variational Omni ETH	+0.0100%	8h	2,724.8	−0.013%	$133.4M	$324.2M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,725.6	+0.019%	$184.8M	$681.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,726.7	+0.058%	$158.4M	$87.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,726	+0.032%	$21.0M	$69.6M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,726.3	+0.042%	—	$445K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,725.9	+0.029%	$11.2M	$9.5M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,724.9	−0.007%	$179K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,725.6	+0.019%	$22K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,727.3	+0.080%	$40.9M	$30.3M	15x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,725.4	+0.010%	$262.7M	$64.8M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,724.2	−0.033%	$30.4M	$74.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,725.8	+0.026%	—	$30.5M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,726.4	+0.045%	$50.1M	$4.31B	50x	as long as short
RISEx ETH/USDC	+0.0115%	1h	2,725.7	+0.020%	$5.6M	$11.7M	25x	as long as short
Orderly PERP_ETH_USDC	+0.0186%	8h	2,727.6	+0.092%	$32.1M	$11.4M	100x	as long as short
Reya ETHRUSDPERP	+0.0192%	1h	2,723.8	−0.049%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0211%	1h	2,725.6	+0.016%	$82.4M	$312.4M	100x	as long as short
Hibachi ETH/USDT-P	+0.0240%	1h	2,726.2	+0.041%	$245K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0360%	8h	2,725	−0.005%	$281.6M	$175.2M	150x	as long as short