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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 03:00 UTC+0.0011%/8h= +1.3% APRnext payment +$0.01 per $10,000 · paid last 24h −0.003%
Price spread now: SoDEX against Bullet−0.030%7-day average −0.007% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$190.190% of the position
Long on BulletShort on SoDEX
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.020%+$2 on $10k
Price spread, last 4 days (all we have)−0.080%−$8 · spread now −0.030%, 7d avg −0.007%
Together, before fees−0.060%−$6 on $10k · with fees, hour by hour
Funding pays, the price is against you. SoDEX is 0.024% cheaper against Bullet than usual: you would sell low and buy high (spread −0.030% now, against its 7-day average of −0.007%). If the spread goes back, that is −$2 on $10k: about 6.9 days of funding at the current rate ($0 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBullet ETH-USD2,741.60.0072pay 0.0009% / 1h7m 02s$182K$1.7M20x
ShortSoDEX ETH-USD2,740.80.0083get 0.0010% / 1h7m 02s$54.6M$187.5M40x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

SoDEX 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
$2.41
Price spread: −0.030% → −0.007%
−$2.36
Slippage, 4 orders
−$2.96
Fee Bullet: 4 bp × 2 orders
−$8
Fee SoDEX: 4 bp × 2 orders
−$8
Net
−$18.91
Costs to cover
0.190%
Break-even
61.9 days
Slippage from Bullet: live order book, 2 min ago; SoDEX: live order book, 2 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 Bullet live order book, 2 min ago0.18 bp5.8 bp −$68.6 bp −$86doesn't fitdoesn't fit
Sell SoDEX live order book, 2 min ago0.18 bp4.2 bp −$44.2 bp −$426.0 bp −$59535.1 bp −$17.6K

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
Hotstuff ETH-PERP−0.0080%1h2,742.9+0.046%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,735.6−0.220%$117K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,742.2+0.020%$12.1M—200xas long as short
Perpl ETH0.0000%43m2,742.6+0.033%$304K$5.6M8.3xas long as short
dYdX ETH-USD0.0000%1h2,742+0.015%$10.8M$41.7M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,742.3+0.024%$25.3M—200xas long as short
Phoenix ETH+0.0017%1h2,744.6+0.108%$848K$2.9M25xas long as short
01 Exchange ETHUSD+0.0024%1h2,742.2+0.021%$182K$836K50xas long as short
ApeX Omni ETHUSDT+0.0032%1h2,743.4+0.064%$8.8M$30.7M100xas long as short
BingX ETH-USDC+0.0054%8h2,740.9−0.028%—$18.4M—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0068%8h2,740−0.059%$1.70B$10.54B100xas long as short
KuCoin ETHUSDTM+0.0071%8h2,740.1−0.055%$381.6M$575.0M100xas long as short
Bullet ETH-USDlong+0.0072%1h2,741.6long leg$182K$1.7M20x
RISEx ETH/USDC+0.0077%1h2,742.3+0.024%$5.6M$11.4M25xas long as short
SoDEX ETH-USDshort+0.0083%1h2,740.8−0.030%$54.6M$187.5M40x
Aster ETHUSDT+0.0085%8h2,741.3−0.014%$253.6M$840.8M200xas long as short
MEXC ETH_USDT+0.0093%8h2,739.8−0.065%$1.57B$2.56B500xas long as short
Binance ETHUSDT+0.0094%8h2,740.3−0.047%$6.37B$15.68B150xas long as short
Lighter ETH+0.0096%1h2,741.4−0.007%$112.6M$436.2M50xas long as short
Lighter RH ETH+0.0096%1h2,742.6+0.036%$24.6M$104.3M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,741.9+0.011%—$30.4M500xas long as short
Aevo ETH-PERP+0.0096%1h2,738.6−0.110%$4.9M$154K20xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,742.4+0.028%$54.4M$4.25B50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,745.4+0.136%$16.0M$7.9M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,741.9+0.010%$474K$3.1M50xas long as short
Nado ETH-PERP+0.0100%1h2,741.60.000%$13.9M$104.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,743.1+0.053%$3.11B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,742.4+0.028%$31.7M$333.8M50xas long as short
Bybit ETHUSDT+0.0100%8h2,740.2−0.054%$2.45B$4.17B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,741.7+0.002%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,742.2+0.022%$2.8M$16.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,746.6+0.180%$165.7M$303.2M25xas long as short
Gate ETH_USDT+0.0100%8h2,741.2−0.016%$3.39B$8.78B200xas long as short
Bitget ETHUSDT+0.0100%8h2,740.1−0.057%$2.08B$2.72B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,740.6−0.039%$15.0M$39.3M50xas long as short
Variational Omni ETH+0.0100%8h2,743.1+0.053%$133.1M$325.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,743.3+0.059%$182.3M$665.7M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,743.7+0.075%$159.5M$83.5M50xas long as short
StandX ETH-USD+0.0100%1h2,743.8+0.079%$21.2M$68.7M40xas long as short
Vest ETH-PERP+0.0100%1h2,742.5+0.033%—$815K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,742.9+0.046%$11.0M$8.8M50xas long as short
Derive ETH-PERP+0.0100%1h2,743.3+0.059%$41.5M$29.7M15xas long as short
SunX ETH-USDT+0.0100%8h2,741.1−0.021%$960K$11.4M100xas long as short
HTX ETH-USDT+0.0100%8h2,741−0.023%$1.06B$1.18B200xas long as short
Phemex ETHUSDT+0.0100%8h2,741.4−0.009%$266.4M$65.0M150xas long as short
Extended ETH-USD+0.0104%1h2,739.2−0.088%$30.7M$72.0M50xas long as short
Aftermath Perps ETHUSD+0.0135%1h2,744.5+0.103%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0159%8h2,742.7+0.039%$7.7M$670.7M4.9xas long as short
Deribit ETH-PERPETUAL+0.0162%1h2,742.5+0.032%$260.0M$195.4M50xas long as short
Orderly PERP_ETH_USDC+0.0195%8h2,744+0.086%$32.3M$11.4M100xas long as short
BloFin ETH-USDT+0.0214%8h2,741.6−0.001%$284.7M$179.3M150xas long as short
Kraken Futures PF_ETHUSD+0.0221%1h2,741.9+0.011%$86.4M$310.0M100xas long as short
Reya ETHRUSDPERP+0.0227%1h2,740.7−0.034%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,744.1+0.089%$252K$1.4M20xas long as short
Bluefin ETH-PERP+0.0332%1h2,742.3+0.025%$21K$20K25xas long as short