Settings8H · net · $10k
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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 00:00 UTC+0.0045%/8h= +4.9% APRpaid last 24h +0.004%
Price spread now: Backpack against Binance+0.084%7-day average −0.003% · 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−$12as in the Price arb table
costs, in and out, $10k−$200.205% of the position
Long on BinanceShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 7 days+0.107%+$11 on $10k
Price spread, last 7 days−0.807%−$81 · spread now +0.084%, 7d avg −0.003%
Together, before fees−0.701%−$70 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Backpack is 0.087% dearer against Binance than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.003%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBinance ETHUSDT2,770.10.0055pay 0.0055% / 8h7m 27s$6.45B$17.30B150x
ShortBackpack ETH_USDC_PERP2,772.50.0100get 0.0013% / 1h7m 27s$15.1M$44.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against Binance. 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
$9.39
Price spread: +0.084% → −0.003%
$8.7
Slippage, 4 orders
−$0.46
Fee Binance: 5 bp × 2 orders
−$10
Fee Backpack: 5 bp × 2 orders
−$10
Net
−$2.37
Costs to cover
0.205%
Break-even
8.8 days
Slippage from Binance: live order book, 7 min ago; Backpack: 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 Binance live order book, 7 min ago0.02 bp5.0 bp −$55.0 bp −$506.0 bp −$6017.8 bp −$3,910
Sell Backpack live order book, 2 min ago0.02 bp5.4 bp −$57.5 bp −$7530.7 bp −$3,073doesn'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−0.0223%43m2,769.3−0.031%$285K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0206%1h2,768.9−0.046%$5.6M$11.9M25xas long as short
Injective ETH/USDC PERP−0.0088%1h2,762.1−0.290%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,771.1+0.035%$5K$2K50xas long as short
ApeX Omni ETHUSDT−0.0016%1h2,769.8−0.012%$8.7M$32.9M100xas long as short
01 Exchange ETHUSD−0.0008%1h2,769.3−0.030%$168K$1.2M50xas long as short
dYdX ETH-USD0.0000%1h2,771.2+0.038%$12.7M$45.9M50xas long as short
Phoenix ETH+0.0003%1h2,771.5+0.049%$876K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,770.9+0.027%$22.4M—200xas long as short
OKX ETH-USDT-SWAP+0.0021%8h2,770.2+0.002%$1.71B$11.88B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX ETH/USD [ETH-USDC]L +0.0026% / S +0.0009%1h2,770.6+0.018%$12.8M—200xas long as short
Phemex ETHUSDT+0.0027%8h2,771.9+0.063%$270.2M$68.8M150xas long as short
Aftermath Perps ETHUSD+0.0028%1h2,771.4+0.047%$29K$22K20xas long as short
Aster ETHUSDT+0.0031%8h2,770.2+0.003%$255.7M$1.00B200xas long as short
SoDEX ETH-USD+0.0033%1h2,772.1+0.071%$55.2M$228.8M40xas long as short
Bullet ETH-USD+0.0036%1h2,769.8−0.013%$181K$1.7M20xas long as short
MEXC ETH_USDT+0.0055%8h2,769.8−0.012%$1.62B$2.66B500xas long as short
Binance ETHUSDTlong+0.0055%8h2,770.1long leg$6.45B$17.30B150x
Aevo ETH-PERP+0.0056%1h2,772.5+0.085%$5.0M$636K20xas long as short
Bitget ETHUSDT+0.0065%8h2,770.4+0.008%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0067%8h2,770.1−0.001%$3.29B$9.69B200xas long as short
KuCoin ETHUSDTM+0.0081%8h2,769.5−0.024%$421.0M$738.6M100xas long as short
Bybit ETHUSDT+0.0088%8h2,770.4+0.008%$2.51B$4.62B150xas long as short
BingX ETH-USDT+0.0088%8h2,770.3+0.004%—$1.24B—as long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,773.6+0.126%$60.3M$4.59B50xas long as short
HTX ETH-USDT+0.0093%8h2,772.1+0.071%$1.08B$1.32B200xas long as short
Nado ETH-PERP+0.0096%1h2,770.5+0.014%$14.3M$118.2M50xas long as short
Lighter ETH+0.0096%1h2,770.8+0.024%$115.1M$501.7M50xas long as short
Lighter RH ETH+0.0096%1h2,772.3+0.079%$25.3M$122.1M50xas long as short
Vest ETH-PERP+0.0096%1h2,770.4+0.008%—$1.1M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,769.9−0.008%$15.9M$10.1M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,769−0.041%$475K$2.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,772.2+0.074%$3.17B$2.36B25xas long as short
Pacifica ETH+0.0100%1h2,770.8+0.025%$31.2M$316.9M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,769.3−0.030%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,770.2+0.004%$2.7M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,769.4−0.027%$169.4M$262.8M25xas long as short
Backpack ETH_USDC_PERPshort+0.0100%1h2,772.5+0.084%$15.1M$44.2M50x
Variational Omni ETH+0.0100%8h2,768.4−0.062%$147.1M$335.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,769.4−0.027%$181.8M$784.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,770.9+0.029%$161.1M$89.5M50xas long as short
StandX ETH-USD+0.0100%1h2,771.1+0.035%$21.4M$58.6M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,769.8−0.012%$10.6M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,770.8+0.025%$21K$24K25xas long as short
SunX ETH-USDT+0.0100%8h2,771.3+0.042%$973K$13.9M100xas long as short
Derive ETH-PERP+0.0100%1h2,774.5+0.159%$42.7M$29.4M15xas long as short
Extended ETH-USD+0.0104%1h2,768.7−0.053%$32.5M$78.3M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,771.9+0.062%—$43.8M500xas long as short
Kalshi KXETHPERP+0.0105%8h2,771.7+0.056%$8.2M$688.1M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0123%1h2,773.5+0.123%$90.4M$338.6M100xas long as short
Deribit ETH-PERPETUAL+0.0125%1h2,773.8+0.133%$259.0M$222.2M50xas long as short
Orderly PERP_ETH_USDC+0.0143%8h2,773.1+0.105%$32.6M$12.2M100xas long as short
BloFin ETH-USDT+0.0176%8h2,770.7+0.020%$286.6M$194.4M150xas long as short
Reya ETHRUSDPERP+0.0205%1h2,770.2+0.003%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0208%1h2,773+0.103%$252K$1.6M20xas long as short