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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 04:00 UTC+0.0020%/8h= +2.2% APRnext payment +$0.03 per $10,000 · paid last 24h +0.008%
Price spread now: Hibachi against Bluefin−0.051%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on BluefinShort on Hibachi
What this pair did over the last
the charts below follow
Funding, last 5 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—+ Points / potential airdropHibachi: Active · farm boardneeds both histories
Funding pays, the price is against you. Hibachi is 0.051% cheaper against Bluefin than usual: you would sell low and buy high (spread −0.051% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 8.4 days of funding at the current rate (+$1 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBluefin ETH-PERP2,731.30.0236pay 0.0029% / 1h38m 25s$21K$20K25x
ShortHibachi ETH/USDT-P2,729.90.0256get 0.0032% / 1h38m 25s$253K$1.4M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hibachi against Bluefin. 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
$4.22
Price spread: −0.051% → 0.000%
−$5.09
Slippage, 4 orders
no order book: not counted
Fee Bluefin: 3.5 bp × 2 orders
−$7
Fee Hibachi: 4.5 bp × 2 orders
−$9
Net
−$16.87
Costs to cover
0.160%
Break-even
35.0 days
Slippage unknown: Bluefin: no order-book sample; Hibachi: live order book, 1 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bluefin no order-book sample—————
Sell Hibachi live order book, 1 min ago0.02 bp7.3 bp −$716.9 bp −$169doesn't fitdoesn't fit
Bluefin: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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%43m2,729.9−0.054%$298K$5.6M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,728.7−0.096%$117K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,729.5−0.067%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,731.2−0.004%$11.9M—200xas long as short
dYdX ETH-USD0.0000%1h2,729.3−0.073%$10.7M$41.7M50xas long as short
01 Exchange ETHUSD0.0000%1h2,731.4+0.003%$188K$842K50xas long as short
Phoenix ETH0.0000%1h2,728.8−0.092%$828K$2.9M25xas long as short
Bullet ETH-USD+0.0004%1h2,730.7−0.024%$180K$1.7M20xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,731.4+0.003%$27.0M—200xas long as short
ApeX Omni ETHUSDT+0.0039%1h2,729.5−0.066%$8.9M$31.3M100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0059%8h2,730.1−0.044%—$18.4M—as long as short
SoDEX ETH-USD+0.0062%1h2,730.7−0.023%$54.4M$187.6M40xas long as short
KuCoin ETHUSDTM+0.0069%8h2,730.5−0.031%$380.4M$576.0M100xas long as short
OKX ETH-USDT-SWAP+0.0072%8h2,730.9−0.016%$1.67B$10.72B100xas long as short
HTX ETH-USDT+0.0075%8h2,726.5−0.176%$1.05B$1.20B200xas long as short
Aster ETHUSDT+0.0078%8h2,730.6−0.028%$251.4M$844.7M200xas long as short
Bybit ETHUSDT+0.0082%8h2,730.8−0.019%$2.39B$4.35B150xas long as short
Binance ETHUSDT+0.0088%8h2,730.7−0.024%$6.35B$15.88B150xas long as short
MEXC ETH_USDT+0.0088%8h2,730.9−0.017%$1.52B$2.55B500xas long as short
Aevo ETH-PERP+0.0088%1h2,728.7−0.095%$4.9M$155K20xas long as short
Phemex ETHUSDT+0.0095%8h2,726.9−0.160%$265.0M$65.5M150xas long as short
Lighter ETH+0.0096%1h2,729.4−0.071%$112.3M$436.4M50xas long as short
Lighter RH ETH+0.0096%1h2,730.6−0.026%$23.2M$105.8M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,730.5−0.030%—$30.8M500xas long as short
Paradex ETH-USD-PERP+0.0098%8h2,733.1+0.064%$15.5M$8.0M50xas long as short
RISEx ETH/USDC+0.0099%1h2,730.7−0.022%$5.6M$11.5M25xas long as short
Katana Perps ETH-USD+0.0100%8h2,730.2−0.041%$500K$3.2M50xas long as short
Nado ETH-PERP+0.0100%1h2,730.5−0.029%$13.8M$104.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,733.3+0.072%$3.10B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,730.3−0.037%$31.9M$334.3M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,727.6−0.136%$2.7M$17.0M25xas long as short
Arcus ETH-USD+0.0100%1h2,730.6−0.026%$2.8M$16.2M25xas long as short
Gate ETH_USDT+0.0100%8h2,730.8−0.019%$3.35B$8.84B200xas long as short
Bitget ETHUSDT+0.0100%8h2,731−0.013%$2.07B$2.75B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,727.7−0.132%$14.9M$39.7M50xas long as short
Variational Omni ETH+0.0100%8h2,729.3−0.075%$133.2M$325.2M—as long as short
edgeX ETHUSDC+0.0100%4h2,730.8−0.019%$183.7M$669.7M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,730.6−0.026%$158.9M$86.8M50xas long as short
StandX ETH-USD+0.0100%1h2,730−0.048%$21.1M$68.9M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,732.1+0.029%$11.2M$9.1M50xas long as short
Derive ETH-PERP+0.0100%1h2,732.8+0.055%$41.3M$29.8M15xas long as short
SunX ETH-USDT+0.0100%8h2,729.9−0.052%$958K$11.4M100xas long as short
Bulk ETH-USD+0.0100%1h2,730.9−0.016%$166.8M$318.0M25xas long as short
Vest ETH-PERP+0.0100%1h2,731.3−0.002%—$843K50xas long as short
Extended ETH-USD+0.0104%1h2,729.7−0.058%$30.3M$72.7M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,728.2−0.114%$51.5M$4.26B50xas long as short
Deribit ETH-PERPETUAL+0.0113%1h2,731.9+0.021%$260.1M$196.7M50xas long as short
Aftermath Perps ETHUSD+0.0126%1h2,731.5+0.005%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0150%8h2,729−0.085%$6.5M$678.2M4.9xas long as short
Orderly PERP_ETH_USDC+0.0193%8h2,733.4+0.076%$32.2M$11.6M100xas long as short
Reya ETHRUSDPERP+0.0222%1h2,729.7−0.058%$7.3M$1.2M25xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,731.4+0.002%$84.1M$314.2M100xas long as short
Bluefin ETH-PERPlong+0.0236%1h2,731.3long leg$21K$20K25x
Hibachi ETH/USDT-Pshort+0.0256%1h2,729.9−0.051%$253K$1.4M20x
BloFin ETH-USDT+0.0355%8h2,727.1−0.156%$282.6M$174.6M150xas long as short