Settings8H · net · $10k
Funding arb · Price arb /

ETH

all ETH markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.013%
Price spread now: Kalshi against Bulk+0.032%7-day average −0.015% · you sell dearer than you buy
Net, funding: paid 7d − costsunder 7 days of funding history
Net, price: spread back to 7d avg − costs−$13as in the Price arb table
costs, in and out, $10k−$180.179% of the position
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.052%−$5 on $10k
Price spread, last 7 days+0.001%$0 · spread now +0.032%, 7d avg −0.015%
Together, before fees−0.051%−$5 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Kalshi is 0.047% dearer against Bulk than usual: you sell high and buy low (spread +0.032% now, against its 7-day average of −0.015%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 37 hours.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBulk ETH-USD2,770.50.0100pay 0.0013% / 1h55m 35s$170.6M$266.1M25x
ShortKalshi KXETHPERP2,771.40get 0.0000% / 8h3h 55m$8.1M$690.0M4.9x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kalshi 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
−$21
Price spread: +0.032% → −0.015%
$4.65
Slippage, 4 orders
−$0.92
Fee Bulk: 3.5 bp × 2 orders
−$7
Fee Kalshi: 5 bp × 2 orders
−$10
Net
−$34.27
Costs to cover
0.179%
Break-even
never at this rate
Slippage from Bulk: live order book, 4 min ago; Kalshi: 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 Bulk live order book, 4 min ago0.02 bp3.5 bp −$43.5 bp −$353.5 bp −$3524.9 bp −$2,441
Sell Kalshi live order book, 4 min ago0.36 bp5.5 bp −$67.1 bp −$7111.4 bp −$1,13919.0 bp −$9,497

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
Injective ETH/USDC PERP−0.0752%1h2,771.6+0.039%$119K$22.5M52xas long as short
ApeX Omni ETHUSDT−0.0362%1h2,770.5+0.001%$8.7M$32.9M100xas long as short
Perpl ETH−0.0223%43m2,769.1−0.050%$284K$6.8M8.3xas long as short
RISEx ETH/USDC−0.0128%1h2,766.9−0.130%$5.7M$11.9M25xas long as short
Gate ETH_USDT−0.0093%8h2,767.6−0.106%$3.29B$8.88B200xas long as short
Hotstuff ETH-PERP−0.0080%1h2,768.8−0.062%$5K$1K50xas long as short
01 Exchange ETHUSD−0.0024%1h2,767.4−0.113%$168K$1.2M50xas long as short
Bullet ETH-USD−0.0013%1h2,768.6−0.071%$182K$1.7M20xas long as short
SoDEX ETH-USD−0.0007%1h2,769.2−0.048%$55.1M$228.8M40xas long as short
dYdX ETH-USD0.0000%1h2,769.1−0.053%$12.7M$45.8M50xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Kalshi KXETHPERPshort0.0000%8h2,771.4+0.032%$8.1M$690.0M4.9x
Phoenix ETH+0.0003%1h2,771.4+0.032%$876K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,769.5−0.036%$22.4M200xas long as short
OKX ETH-USDT-SWAP+0.0020%8h2,766.9−0.129%$1.70B$11.77B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0026% / S +0.0009%1h2,769.4−0.042%$12.8M200xas long as short
Aftermath Perps ETHUSD+0.0035%1h2,773+0.090%$29K$22K20xas long as short
Aster ETHUSDT+0.0038%8h2,767.9−0.093%$255.5M$1.00B200xas long as short
Aevo ETH-PERP+0.0056%1h2,769.7−0.031%$5.0M$326K20xas long as short
MEXC ETH_USDT+0.0057%8h2,767.9−0.095%$1.61B$2.62B500xas long as short
Binance ETHUSDT+0.0058%8h2,767−0.126%$6.45B$17.18B150xas long as short
Bybit ETHUSDT+0.0063%8h2,767.4−0.113%$2.51B$4.59B150xas long as short
Bitget ETHUSDT+0.0066%8h2,767.1−0.123%$2.10B$3.07B150xas long as short
Deribit ETH-PERPETUAL+0.0079%1h2,770.2−0.011%$259.1M$220.9M50xas long as short
KuCoin ETHUSDTM+0.0080%8h2,769.4−0.042%$422.2M$735.1M100xas long as short
Coinbase International ETH-PERP-INTX+0.0080%1h2,770.8+0.009%$60.8M$4.57B50xas long as short
Phemex ETHUSDT+0.0082%8h2,769.2−0.049%$269.7M$68.1M150xas long as short
Vest ETH-PERP+0.0094%1h2,768.2−0.086%$1.1M50xas long as short
Lighter ETH+0.0096%1h2,768.3−0.079%$115.0M$455.8M50xas long as short
Lighter RH ETH+0.0096%1h2,770.1−0.017%$25.2M$109.4M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,767.4−0.114%$15.9M$9.8M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,767.2−0.120%$482K$2.9M50xas long as short
Nado ETH-PERP+0.0100%1h2,768−0.091%$14.6M$118.1M50xas long as short
Hyperliquid ETH+0.0100%1h2,770.8+0.010%$3.17B$2.36B25xas long as short
Pacifica ETH+0.0100%1h2,769.1−0.051%$31.2M$319.4M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,768−0.091%$2.8M$17.3M25xas long as short
Arcus ETH-USD+0.0100%1h2,768.2−0.084%$2.7M$17.4M25xas long as short
Bulk ETH-USDlong+0.0100%1h2,770.5long leg$170.6M$266.1M25x
BingX ETH-USDC+0.0100%8h2,767.3−0.116%$17.5Mas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,769.7−0.030%$15.2M$44.1M50xas long as short
Variational Omni ETH+0.0100%8h2,771.4+0.033%$151.3M$343.5Mas long as short
edgeX ETHUSDC+0.0100%4h2,769.8−0.026%$181.8M$784.6M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,770.8+0.011%$161.1M$88.7M50xas long as short
StandX ETH-USD+0.0100%1h2,770.1−0.015%$21.4M$58.5M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,767.2−0.120%$10.6M$8.1M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,769.7−0.029%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,771.2+0.023%$42.7M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,768.4−0.078%$971K$13.8M100xas long as short
HTX ETH-USDT+0.0100%8h2,768.9−0.058%$1.08B$1.31B200xas long as short
Extended ETH-USD+0.0104%1h2,767.3−0.115%$32.5M$78.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,771.9+0.050%$41.7M500xas long as short
Kraken Futures PF_ETHUSD+0.0134%1h2,770.8+0.011%$90.7M$328.3M100xas long as short
Orderly PERP_ETH_USDC+0.0146%8h2,771.4+0.032%$32.6M$12.1M100xas long as short
BloFin ETH-USDT+0.0177%8h2,770.6+0.001%$286.6M$192.8M150xas long as short
Hibachi ETH/USDT-P+0.0184%1h2,770.2−0.010%$252K$1.6M20xas long as short
Reya ETHRUSDPERP+0.0207%1h2,766.8−0.136%$7.3M$1.2M25xas long as short