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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 00:00 UTC−0.0180%/8h= −19.7% APRnext payment −$0.23 per $10,000 · paid last 24h −0.050%
Price spread now: Hotstuff against Bulk+0.238%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on BulkShort on Hotstuff
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories
The price spread pays, funding is against you. Hotstuff is 0.238% dearer against Bulk than usual: you sell high and buy low (spread +0.238% now, against zero (this spread has no 7-day history yet)): +$24 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 4.4 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBulk ETH-USD2,769.40.0100pay 0.0013% / 1h3m 05s$169.4M$262.8M25x
ShortHotstuff ETH-PERP2,776−0.0080pay 0.0010% / 1h3m 05s$5K$2K50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hotstuff against Bulk. 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
−$37.8
Price spread: +0.238% → 0.000%
$23.84
Slippage, 4 orders
no order book: not counted
Fee Bulk: 3.5 bp × 2 orders
−$7
Fee Hotstuff: 2.5 bp × 2 orders
−$5
Net
−$25.96
Costs to cover
0.120%
Break-even
from the start
Slippage unknown: Bulk: live order book, 1 min ago; Hotstuff: no order-book sample. 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 Bulk live order book, 1 min ago0.02 bp3.5 bp −$43.5 bp −$353.5 bp −$3524.7 bp −$2,339
Sell Hotstuff no order-book sample—————
Hotstuff: 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−0.0223%43m2,775.8+0.230%$286K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0206%1h2,775.6+0.225%$5.6M$11.9M25xas long as short
Injective ETH/USDC PERP−0.0088%1h2,762.1−0.264%$119K$22.5M52xas long as short
Hotstuff ETH-PERPshort−0.0080%1h2,776+0.238%$5K$2K50x
ApeX Omni ETHUSDT−0.0026%1h2,769.6+0.007%$8.7M$32.9M100xas long as short
01 Exchange ETHUSD−0.0008%1h2,776.5+0.256%$168K$1.2M50xas long as short
dYdX ETH-USD0.0000%1h2,775.8+0.232%$12.7M$45.9M50xas long as short
Phoenix ETH+0.0003%1h2,774.3+0.177%$877K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,776.4+0.253%$22.4M—200xas long as short
OKX ETH-USDT-SWAP+0.0021%8h2,774.1+0.168%$1.71B$11.90B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phemex ETHUSDT+0.0023%8h2,774.4+0.182%$270.3M$68.7M150xas long as short
GMX ETH/USD [ETH-USDC]L +0.0026% / S +0.0009%1h2,776.1+0.242%$12.9M—200xas long as short
SoDEX ETH-USD+0.0030%1h2,774.5+0.184%$55.2M$228.7M40xas long as short
Aster ETHUSDT+0.0032%8h2,774.6+0.187%$256.1M$1.00B200xas long as short
Aftermath Perps ETHUSD+0.0032%1h2,772.8+0.123%$29K$22K20xas long as short
Bullet ETH-USD+0.0034%1h2,775.5+0.220%$182K$1.7M20xas long as short
MEXC ETH_USDT+0.0054%8h2,774.4+0.179%$1.62B$2.67B500xas long as short
Binance ETHUSDT+0.0054%8h2,774.4+0.182%$6.47B$17.29B150xas long as short
Aevo ETH-PERP+0.0056%1h2,772.3+0.104%$5.0M$636K20xas long as short
Deribit ETH-PERPETUAL+0.0060%1h2,776.5+0.255%$259.1M$222.1M50xas long as short
Bitget ETHUSDT+0.0066%8h2,774.3+0.175%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0067%8h2,774.5+0.185%$3.29B$9.71B200xas long as short
KuCoin ETHUSDTM+0.0080%8h2,774.8+0.194%$422.8M$738.7M100xas long as short
Bybit ETHUSDT+0.0087%8h2,774.4+0.182%$2.51B$4.62B150xas long as short
BingX ETH-USDT+0.0088%8h2,774.1+0.169%—$1.24B—as long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,776+0.240%$60.7M$4.60B50xas long as short
Nado ETH-PERP+0.0091%1h2,776+0.238%$14.3M$118.2M50xas long as short
HTX ETH-USDT+0.0093%8h2,775.1+0.206%$1.08B$1.32B200xas long as short
Lighter ETH+0.0096%1h2,774.8+0.196%$115.2M$502.0M50xas long as short
Lighter RH ETH+0.0096%1h2,776.5+0.256%$25.3M$122.2M50xas long as short
Vest ETH-PERP+0.0097%1h2,776.2+0.244%—$1.1M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,775.6+0.225%$15.9M$10.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,775.1+0.206%$483K$2.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,776.9+0.271%$3.17B$2.36B25xas long as short
Pacifica ETH+0.0100%1h2,776+0.238%$31.3M$316.9M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,775.3+0.213%$2.8M$17.3M25xas long as short
Arcus ETH-USD+0.0100%1h2,776.4+0.254%$2.7M$17.4M25xas long as short
Bulk ETH-USDlong+0.0100%1h2,769.4long leg$169.4M$262.8M25x
Backpack ETH_USDC_PERP+0.0100%1h2,774.5+0.182%$15.1M$44.2M50xas long as short
Variational Omni ETH+0.0100%8h2,768.5−0.031%$148.3M$337.3M—as long as short
edgeX ETHUSDC+0.0100%4h2,769.8+0.014%$181.8M$784.6M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,770.2+0.031%$161.1M$89.4M50xas long as short
StandX ETH-USD+0.0100%1h2,774.3+0.177%$21.5M$58.7M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,776.5+0.256%$10.6M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,776.2+0.246%$21K$24K25xas long as short
SunX ETH-USDT+0.0100%8h2,775+0.201%$974K$13.9M100xas long as short
Kalshi KXETHPERP+0.0100%8h2,776.4+0.253%$8.3M$688.6M4.9xas long as short
Derive ETH-PERP+0.0100%1h2,777.4+0.290%$42.8M$29.4M15xas long as short
Extended ETH-USD+0.0104%1h2,774.3+0.176%$32.5M$78.4M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,776.6+0.262%—$43.8M500xas long as short
Kraken Futures PF_ETHUSD+0.0123%1h2,775.7+0.228%$90.8M$338.3M100xas long as short
Orderly PERP_ETH_USDC+0.0144%8h2,777.9+0.306%$32.6M$12.1M100xas long as short
BloFin ETH-USDT+0.0174%8h2,774.5+0.185%$287.2M$193.8M150xas long as short
Hibachi ETH/USDT-P+0.0200%1h2,776.1+0.242%$253K$1.6M20xas long as short
Reya ETHRUSDPERP+0.0206%1h2,775.6+0.223%$7.4M$1.2M25xas long as short