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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 01:00 UTC+0.0189%/8h= +20.7% APRnext payment +$0.24 per $10,000 · paid last 24h +0.018%
Price spread now: Reya against Bullet+0.001%7-day average −0.040% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on BulletShort on Reya
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.082%+$8 on $10k
Price spread, last 7 days−0.024%−$2 · spread now +0.001%, 7d avg −0.040%
Together, before fees+0.058%+ Points / potential airdropReya: Active · farm board+$6 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Reya is 0.041% dearer against Bullet than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.040%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBullet ETH-USD2,770.90.0022pay 0.0003% / 1h30m 38s$183K$1.7M20x
ShortReya ETHRUSDPERP2,770.90.0211get 0.0026% / 1h30m 38s$7.3M$1.2M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Reya against Bullet. 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
$39.61
Price spread: +0.001% → −0.040%
$4.12
Slippage, 4 orders
no order book: not counted
Fee Bullet: 4 bp × 2 orders
−$8
Fee Reya: 3 bp × 2 orders
−$6
Net
$29.73
Costs to cover
0.140%
Break-even
1.7 days
Slippage unknown: Bullet: live order book, 4 min ago; Reya: 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 Bullet live order book, 4 min ago0.54 bp6.4 bp −$69.3 bp −$93doesn't fitdoesn't fit
Sell Reya no order-book sample—————
Reya: 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
Injective ETH/USDC PERP−0.0752%1h2,772.9+0.072%$119K$22.5M52xas long as short
RISEx ETH/USDC−0.0128%1h2,771.7+0.030%$5.6M$11.2M25xas long as short
Perpl ETH−0.0112%43m2,770.9−0.001%$321K$6.4M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,772.1+0.043%$5K$1K50xas long as short
01 Exchange ETHUSD−0.0040%1h2,771.3+0.015%$168K$1.1M50xas long as short
Phoenix ETH−0.0003%1h2,771.1+0.007%$878K$3.7M25xas long as short
dYdX ETH-USD0.0000%1h2,770.2−0.025%$12.2M$45.9M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,771.7+0.028%$22.4M—200xas long as short
Phemex ETHUSDT+0.0019%8h2,770.6−0.011%$269.6M$67.5M150xas long as short
Bullet ETH-USDlong+0.0022%1h2,770.9long leg$183K$1.7M20x
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0025%8h2,769.8−0.040%$1.71B$11.19B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0025% / S +0.0009%1h2,771.5+0.021%$12.7M—200xas long as short
SoDEX ETH-USD+0.0033%1h2,770.4−0.018%$55.2M$188.0M40xas long as short
Aster ETHUSDT+0.0040%8h2,769.7−0.042%$256.6M$886.1M200xas long as short
MEXC ETH_USDT+0.0054%8h2,769.5−0.051%$1.62B$2.63B500xas long as short
Binance ETHUSDT+0.0054%8h2,769.5−0.051%$6.47B$16.35B150xas long as short
Aevo ETH-PERP+0.0056%1h2,767.9−0.109%$5.0M$165K20xas long as short
Aftermath Perps ETHUSD+0.0065%1h2,772+0.040%$31K$23K20xas long as short
Bitget ETHUSDT+0.0072%8h2,769.7−0.045%$2.10B$2.88B150xas long as short
HTX ETH-USDT+0.0075%8h2,770.7−0.007%$1.08B$1.25B200xas long as short
Coinbase International ETH-PERP-INTX+0.0080%1h2,771.8+0.031%$60.4M$4.44B50xas long as short
Vest ETH-PERP+0.0082%1h2,771.2+0.013%—$876K50xas long as short
KuCoin ETHUSDTM+0.0083%8h2,769.7−0.042%$420.3M$631.7M100xas long as short
Lighter ETH+0.0096%1h2,770.1−0.028%$115.2M$457.7M50xas long as short
Lighter RH ETH+0.0096%1h2,772+0.041%$25.7M$111.3M50xas long as short
Gate ETH_USDT+0.0099%8h2,770.3−0.023%$3.36B$8.99B200xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,771.2+0.012%$15.9M$8.7M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,771.5+0.022%$485K$2.8M50xas long as short
Nado ETH-PERP+0.0100%1h2,771+0.003%$14.8M$114.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,772.7+0.065%$3.17B$2.24B25xas long as short
Pacifica ETH+0.0100%1h2,770.3−0.022%$31.3M$323.2M50xas long as short
Bybit ETHUSDT+0.0100%8h2,769.8−0.040%$2.51B$4.38B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,769.9−0.036%$2.8M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,770.4−0.018%$2.8M$16.9M25xas long as short
Bulk ETH-USD+0.0100%1h2,769.8−0.038%$171.6M$277.9M25xas long as short
BingX ETH-USDT+0.0100%8h2,769.7−0.045%—$1.21B—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,770.7−0.006%$15.2M$42.0M50xas long as short
Variational Omni ETH+0.0100%8h2,770.6−0.012%$140.2M$345.2M—as long as short
edgeX ETHUSDC+0.0100%4h2,769.9−0.036%$181.8M$787.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,769.6−0.048%$161.0M$84.9M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,771+0.003%$8.7M$32.2M100xas long as short
StandX ETH-USD+0.0100%1h2,768.5−0.086%$21.4M$62.9M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,771.1+0.007%$10.6M$7.9M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,771.2+0.011%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,772.7+0.064%$42.6M$28.9M15xas long as short
SunX ETH-USDT+0.0100%8h2,770.8−0.003%$972K$13.3M100xas long as short
Extended ETH-USD+0.0104%1h2,769.5−0.051%$31.0M$74.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,771.9+0.035%—$37.0M500xas long as short
Kalshi KXETHPERP+0.0110%8h2,771.9+0.036%$8.1M$682.6M4.9xas long as short
Deribit ETH-PERPETUAL+0.0111%1h2,772.1+0.043%$259.1M$207.1M50xas long as short
Kraken Futures PF_ETHUSD+0.0134%1h2,771.9+0.036%$95.9M$319.4M100xas long as short
Orderly PERP_ETH_USDC+0.0150%8h2,773.4+0.091%$32.6M$11.2M100xas long as short
Hibachi ETH/USDT-P+0.0152%1h2,770.1−0.027%$252K$1.5M20xas long as short
BloFin ETH-USDT+0.0174%8h2,770.4−0.019%$287.6M$182.0M150xas long as short
Reya ETHRUSDPERPshort+0.0211%1h2,770.9+0.001%$7.3M$1.2M25x