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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+0.0009%/8h= +1.0% APRnext payment +$0.09 per $10,000 · paid last 24h +0.004%
Price spread now: Bybit against Binance−0.045%7-day average −0.001% · you buy dearer than you sell
Net, funding: paid 7d − costs−$21as in the Funding arb table
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$210.211% of the position
Long on BinanceShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days+0.001%$0 on $10k
Price spread, last 7 days+0.041%+$4 · spread now −0.045%, 7d avg −0.001%
Together, before fees+0.042%+$4 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: Bybit is 0.044% cheaper against Binance than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.001%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBinance ETHUSDT2,733.70.0091pay 0.0091% / 8h4h 49m$6.35B$15.73B150x
ShortBybit ETHUSDT2,732.50.0100get 0.0100% / 8h4h 49m$2.41B$4.22B150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit against Binance. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$1.9
Price spread: −0.045% → −0.001%
−$4.43
Slippage, 4 orders
−$0.07
Fee Binance: 5 bp × 2 orders
−$10
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$23.6
Costs to cover
0.211%
Break-even
93.7 days
Slippage from Binance: live order book, 9 min ago; Bybit: live order book, 4 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, 9 min ago0.02 bp5.0 bp −$55.1 bp −$516.6 bp −$6578.6 bp −$4,301
Sell Bybit live order book, 4 min ago0.02 bp5.5 bp −$66.7 bp −$677.2 bp −$7249.1 bp −$4,566

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%43m2,734.7+0.035%$300K$5.5M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,739.3+0.204%$118K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,738.1+0.161%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,735+0.048%$12.0M—200xas long as short
dYdX ETH-USD0.0000%1h2,734.6+0.032%$10.8M$41.6M50xas long as short
01 Exchange ETHUSD0.0000%1h2,735+0.047%$181K$833K50xas long as short
Phoenix ETH0.0000%1h2,741.2+0.274%$832K$2.9M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,735+0.048%$25.7M—200xas long as short
Bullet ETH-USD+0.0045%1h2,734.5+0.029%$180K$1.7M20xas long as short
SoDEX ETH-USD+0.0050%1h2,734.3+0.022%$54.5M$187.6M40xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0055%8h2,732.9−0.029%—$18.4M—as long as short
OKX ETH-USDT-SWAP+0.0072%8h2,732.6−0.041%$1.68B$10.61B100xas long as short
KuCoin ETHUSDTM+0.0072%8h2,733.9+0.005%$379.7M$573.6M100xas long as short
Aster ETHUSDT+0.0084%8h2,732.9−0.030%$252.7M$841.0M200xas long as short
Aevo ETH-PERP+0.0088%1h2,732.1−0.060%$4.9M$154K20xas long as short
Binance ETHUSDTlong+0.0091%8h2,733.7long leg$6.35B$15.73B150x
MEXC ETH_USDT+0.0091%8h2,732.5−0.044%$1.55B$2.53B500xas long as short
Lighter ETH+0.0096%1h2,734.2+0.018%$112.5M$432.9M50xas long as short
Lighter RH ETH+0.0096%1h2,734.2+0.016%$24.1M$103.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,735.6+0.070%—$30.5M500xas long as short
RISEx ETH/USDC+0.0099%1h2,735.3+0.058%$5.6M$11.4M25xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,737.8+0.150%$15.8M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,734+0.011%$499K$3.2M50xas long as short
Nado ETH-PERP+0.0100%1h2,734.5+0.030%$13.9M$104.5M50xas long as short
Hyperliquid ETH+0.0100%1h2,736.1+0.087%$3.10B$2.06B25xas long as short
Pacifica ETH+0.0100%1h2,734.4+0.025%$31.7M$333.8M50xas long as short
Bybit ETHUSDTshort+0.0100%8h2,732.5−0.045%$2.41B$4.22B150x
Ondo Perps ETH-USD.P+0.0100%1h2,731.7−0.074%$2.7M$16.9M25xas long as short
Arcus ETH-USD+0.0100%1h2,732.6−0.042%$2.8M$16.0M25xas long as short
Bulk ETH-USD+0.0100%1h2,740.8+0.258%$166.9M$306.7M25xas long as short
Gate ETH_USDT+0.0100%8h2,734+0.009%$3.38B$8.69B200xas long as short
Bitget ETHUSDT+0.0100%8h2,732.6−0.040%$2.07B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,733.8+0.005%$15.0M$39.6M50xas long as short
Variational Omni ETH+0.0100%8h2,734.9+0.043%$133.1M$324.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,738+0.156%$182.0M$665.6M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,739+0.193%$159.4M$84.4M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,738+0.155%$8.7M$30.7M100xas long as short
StandX ETH-USD+0.0100%1h2,736+0.084%$21.1M$69.6M40xas long as short
Vest ETH-PERP+0.0100%1h2,735.9+0.079%—$843K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,736+0.084%$10.9M$8.8M50xas long as short
Derive ETH-PERP+0.0100%1h2,735.9+0.082%$41.3M$29.7M15xas long as short
SunX ETH-USDT+0.0100%8h2,734.1+0.015%$959K$11.4M100xas long as short
HTX ETH-USDT+0.0100%8h2,734.2+0.019%$1.06B$1.18B200xas long as short
Phemex ETHUSDT+0.0100%8h2,734.4+0.027%$265.7M$65.2M150xas long as short
Extended ETH-USD+0.0104%1h2,731.8−0.071%$30.6M$72.4M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,735.7+0.074%$51.2M$4.26B50xas long as short
Aftermath Perps ETHUSD+0.0120%1h2,738.6+0.179%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0156%8h2,735.5+0.065%$7.7M$673.3M4.9xas long as short
Deribit ETH-PERPETUAL+0.0185%1h2,736+0.083%$260.0M$194.7M50xas long as short
Orderly PERP_ETH_USDC+0.0194%8h2,736.6+0.104%$32.2M$11.4M100xas long as short
BloFin ETH-USDT+0.0211%8h2,735.5+0.066%$285.2M$172.6M150xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,735.1+0.051%$85.4M$310.4M100xas long as short
Reya ETHRUSDPERP+0.0224%1h2,733.9+0.006%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,736.9+0.115%$251K$1.4M20xas long as short
Bluefin ETH-PERP+0.1204%1h2,735+0.048%$21K$20K25xas long as short