Settings8H · net · $10k
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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 03:00 UTC+0.0121%/8h= +13.3% APRpaid last 24h +0.008%
Price spread now: Kraken Futures against Bybit+0.076%7-day average +0.010% · you sell dearer than you buy
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs−$16as in the Price arb table
costs, in and out, $10k−$230.230% of the position
Long on BybitShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 7 days+0.124%+$12 on $10k
Price spread, last 4 days (all we have)−0.196%−$20 · spread now +0.076%, 7d avg +0.010%
Together, before fees−0.072%−$7 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Kraken Futures is 0.067% dearer against Bybit than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.010%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit ETHUSDT2,7420.0100pay 0.0100% / 8h5h 08m$2.45B$4.17B150x
ShortKraken Futures PF_ETHUSD2,744.10.0221get 0.0028% / 1h8m 53s$86.5M$310.1M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bybit. 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
$25.45
Price spread: +0.076% → +0.010%
$6.67
Slippage, 4 orders
−$1.97
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$9.15
Costs to cover
0.230%
Break-even
4.5 days
Slippage from Bybit: live order book, 5 min ago; Kraken Futures: live order book, 5 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, 5 min ago0.02 bp5.5 bp −$65.5 bp −$556.3 bp −$6348.8 bp −$4,402
Sell Kraken Futures live order book, 5 min ago0.18 bp6.5 bp −$77.5 bp −$759.6 bp −$96312.0 bp −$6,004

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%1h2,744.2+0.079%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,735.6−0.234%$117K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,744+0.070%$12.1M—200xas long as short
Perpl ETH0.0000%43m2,743.4+0.048%$305K$5.6M8.3xas long as short
dYdX ETH-USD0.0000%1h2,744.9+0.106%$10.8M$41.7M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,743.9+0.068%$25.1M—200xas long as short
Phoenix ETH+0.0017%1h2,744.6+0.094%$848K$2.9M25xas long as short
01 Exchange ETHUSD+0.0024%1h2,744.2+0.079%$182K$836K50xas long as short
ApeX Omni ETHUSDT+0.0032%1h2,744.4+0.087%$8.8M$30.7M100xas long as short
BingX ETH-USDT+0.0054%8h2,741.9−0.004%—$1.14B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0067%8h2,742.1+0.003%$1.70B$10.55B100xas long as short
KuCoin ETHUSDTM+0.0071%8h2,742.7+0.023%$382.0M$575.1M100xas long as short
Bullet ETH-USD+0.0073%1h2,743.3+0.048%$182K$1.7M20xas long as short
RISEx ETH/USDC+0.0077%1h2,743.8+0.066%$5.6M$11.4M25xas long as short
Aster ETHUSDT+0.0087%8h2,743+0.037%$253.8M$840.9M200xas long as short
SoDEX ETH-USD+0.0088%1h2,743.2+0.043%$54.6M$187.5M40xas long as short
MEXC ETH_USDT+0.0094%8h2,742.1+0.002%$1.57B$2.56B500xas long as short
Binance ETHUSDT+0.0095%8h2,742−0.002%$6.37B$15.68B150xas long as short
Lighter ETH+0.0096%1h2,743.6+0.058%$112.8M$436.1M50xas long as short
Lighter RH ETH+0.0096%1h2,744.9+0.105%$24.7M$104.2M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,744.2+0.079%—$30.4M500xas long as short
Aevo ETH-PERP+0.0096%1h2,740.6−0.053%$4.9M$154K20xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,744.5+0.089%$54.9M$4.26B50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,747.7+0.209%$16.0M$7.9M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,743.3+0.046%$467K$3.1M50xas long as short
Nado ETH-PERP+0.0100%1h2,743.7+0.060%$13.9M$104.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,745.6+0.130%$3.12B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,744+0.072%$31.7M$333.8M50xas long as short
Bybit ETHUSDTlong+0.0100%8h2,742long leg$2.45B$4.17B150x
Ondo Perps ETH-USD.P+0.0100%1h2,745.3+0.119%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,743.9+0.067%$2.8M$16.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,746.6+0.166%$165.7M$303.2M25xas long as short
Gate ETH_USDT+0.0100%8h2,742.9+0.031%$3.39B$8.78B200xas long as short
Bitget ETHUSDT+0.0100%8h2,742.9+0.032%$2.08B$2.72B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,742.7+0.025%$15.0M$39.3M50xas long as short
Variational Omni ETH+0.0100%8h2,743.1+0.039%$133.1M$325.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,742.7+0.025%$182.3M$665.4M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,745.1+0.111%$159.6M$83.5M50xas long as short
StandX ETH-USD+0.0100%1h2,746.9+0.178%$21.2M$68.4M40xas long as short
Vest ETH-PERP+0.0100%1h2,744.5+0.089%—$815K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,744.4+0.086%$11.0M$8.8M50xas long as short
Derive ETH-PERP+0.0100%1h2,745.3+0.119%$41.5M$29.6M15xas long as short
SunX ETH-USDT+0.0100%8h2,742.3+0.009%$961K$11.4M100xas long as short
HTX ETH-USDT+0.0100%8h2,743.1+0.040%$1.06B$1.18B200xas long as short
Phemex ETHUSDT+0.0100%8h2,743.4+0.051%$266.6M$64.9M150xas long as short
Extended ETH-USD+0.0104%1h2,741.9−0.005%$30.7M$72.0M50xas long as short
Aftermath Perps ETHUSD+0.0136%1h2,745.2+0.114%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0160%8h2,744.5+0.090%$7.7M$670.8M4.9xas long as short
Deribit ETH-PERPETUAL+0.0169%1h2,744.8+0.100%$260.0M$195.4M50xas long as short
Orderly PERP_ETH_USDC+0.0195%8h2,745.6+0.129%$32.3M$11.4M100xas long as short
BloFin ETH-USDT+0.0215%8h2,743.2+0.044%$284.9M$179.7M150xas long as short
Kraken Futures PF_ETHUSDshort+0.0221%1h2,744.1+0.076%$86.5M$310.1M100x
Reya ETHRUSDPERP+0.0227%1h2,742.2+0.007%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0256%1h2,747+0.181%$252K$1.4M20xas long as short
Bluefin ETH-PERP+0.0364%1h2,743.8+0.065%$21K$20K25xas long as short