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Funding arb · Price arb /

ETH

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Alert: spread
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Funding you earn now, next payment 07:00 UTC+0.0067%/8h= +7.4% APRpaid last 24h +0.003%
Price spread now: Arcus against Bybit+0.033%56s7-day average +0.027% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$170.172% of the position
Long on BybitShort on Arcus
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.021%+$2 on $10k
Price spread, last 7 days−0.030%−$3 · spread now +0.033%, 7d avg +0.027%
Together, before fees−0.010%−$1 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.027%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit ETHUSDT2,724.80.0033pay 0.0033% / 8h1h 34m$2.34B$4.41B150x
ShortArcus ETH-USD2,725.70.0100get 0.0013% / 1h34m 42s$1.5M$16.2M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Arcus against Bybit. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$14.14
Price spread: +0.033% → +0.027%
$0.64
Slippage, 4 orders
−$1.66
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Arcus: 2.25 bp × 2 orders
−$4.5
Net
−$2.38
Costs to cover
0.172%
Break-even
8.2 days
Slippage from Bybit: live order book, 4 min ago; Arcus: 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 Bybit live order book, 4 min ago0.02 bp5.5 bp −$65.5 bp −$556.3 bp −$6309.7 bp −$4,842
Sell Arcus live order book, 4 min ago0.18 bp2.7 bp −$33.2 bp −$325.1 bp −$514doesn't fit

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−0.0112%43m2,725.3+0.020%$288K$5.8M8.3xas long as short
ApeX Omni ETHUSDT−0.0087%1h2,726.4+0.057%$8.6M$31.4M100xas long as short
Hotstuff ETH-PERP−0.0080%1h2,726.2+0.052%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0040%1h2,727.6+0.103%$117K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,725.8+0.038%$11.9M—200xas long as short
Phoenix ETH−0.0006%1h2,727.4+0.096%$816K$3.0M25xas long as short
dYdX ETH-USD0.0000%1h2,725.9+0.040%$10.5M$42.9M50xas long as short
Kalshi KXETHPERP0.0000%8h2,726.1+0.048%$6.7M$688.9M4.9xas long as short
Deribit ETH-PERPETUAL0.0000%1h2,725.9+0.041%$262.6M$215.2M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,726.2+0.050%$32.9M—200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
HTX ETH-USDT+0.0009%8h2,725+0.008%$1.05B$1.23B200xas long as short
01 Exchange ETHUSD+0.0024%1h2,725.8+0.037%$192K$895K50xas long as short
BingX ETH-USDT+0.0027%8h2,725+0.007%—$1.11B—as long as short
Bybit ETHUSDTlong+0.0033%8h2,724.8long leg$2.34B$4.41B150x
SoDEX ETH-USD+0.0065%1h2,725.1+0.011%$54.3M$187.3M40xas long as short
KuCoin ETHUSDTM+0.0072%8h2,725+0.009%$376.0M$577.1M100xas long as short
Aster ETHUSDT+0.0082%8h2,724.9+0.003%$251.9M$849.0M200xas long as short
SunX ETH-USDT+0.0085%8h2,724.6−0.006%$955K$11.1M100xas long as short
Aftermath Perps ETHUSD+0.0087%1h2,726.9+0.076%$30K$20K20xas long as short
OKX ETH-USDT-SWAP+0.0087%8h2,724.6−0.007%$1.65B$10.90B100xas long as short
Aevo ETH-PERP+0.0088%1h2,722.7−0.076%$4.9M$167K20xas long as short
Binance ETHUSDT+0.0090%8h2,725.1+0.011%$6.32B$16.15B150xas long as short
MEXC ETH_USDT+0.0090%8h2,725.2+0.015%$1.52B$2.59B500xas long as short
Lighter ETH+0.0096%1h2,725.6+0.031%$111.9M$434.1M50xas long as short
Lighter RH ETH+0.0096%1h2,726.9+0.079%$23.4M$103.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,725.1+0.011%$509K$3.5M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,729.4+0.170%$15.3M$8.0M50xas long as short
Bullet ETH-USD+0.0100%1h2,725+0.008%$179K$1.7M20xas long as short
Nado ETH-PERP+0.0100%1h2,725+0.009%$14.1M$105.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,727.6+0.101%$3.10B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,726.3+0.055%$31.9M$333.7M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,724.4−0.014%$2.7M$16.8M25xas long as short
Arcus ETH-USDshort+0.0100%1h2,725.7+0.033%$1.5M$16.2M25x
Bulk ETH-USD+0.0100%1h2,727.3+0.091%$162.4M$353.0M25xas long as short
Gate ETH_USDT+0.0100%8h2,725.3+0.018%$3.29B$8.98B200xas long as short
Bitget ETHUSDT+0.0100%8h2,725.1+0.010%$2.08B$2.79B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,725.1+0.012%$15.0M$41.9M50xas long as short
Variational Omni ETH+0.0100%8h2,724.8−0.001%$133.4M$324.2M—as long as short
edgeX ETHUSDC+0.0100%4h2,725.6+0.031%$184.8M$681.4M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,726.7+0.070%$158.4M$87.4M50xas long as short
StandX ETH-USD+0.0100%1h2,726.9+0.077%$21.0M$69.5M40xas long as short
Vest ETH-PERP+0.0100%1h2,726.7+0.069%—$445K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,726.4+0.059%$11.2M$9.5M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,725.9+0.040%$22K$21K25xas long as short
Derive ETH-PERP+0.0100%1h2,727.3+0.092%$40.9M$30.3M15xas long as short
Phemex ETHUSDT+0.0100%8h2,725.6+0.029%$262.7M$64.8M150xas long as short
Extended ETH-USD+0.0104%1h2,724.5−0.011%$30.4M$74.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,726.2+0.053%—$30.5M500xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,726.7+0.071%$50.1M$4.31B50xas long as short
RISEx ETH/USDC+0.0115%1h2,725.8+0.035%$5.6M$11.7M25xas long as short
Orderly PERP_ETH_USDC+0.0186%8h2,727.7+0.106%$32.1M$11.4M100xas long as short
Reya ETHRUSDPERP+0.0192%1h2,724.5−0.012%$7.3M$1.1M25xas long as short
Kraken Futures PF_ETHUSD+0.0211%1h2,726+0.045%$83.2M$311.0M100xas long as short
Hibachi ETH/USDT-P+0.0240%1h2,726.5+0.063%$245K$1.4M20xas long as short
BloFin ETH-USDT+0.0360%8h2,725+0.007%$281.6M$175.2M150xas long as short