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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 00:00 UTC+0.0033%/8h= +3.6% APRnext payment +$0.33 per $10,000 · paid last 24h +0.033%
Price spread now: Orderly against Bybit+0.098%50s7-day average +0.080% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on BybitShort on Orderly
What this pair did over the last
the charts below follow
Funding, last 7 days+0.279%+$28 on $10k
Price spread, last 3 days (all we have)−0.082%−$8 · spread now +0.098%, 7d avg +0.080%
Together, before fees+0.198%+$20 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.080%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit ETHUSDT2,777.30.0100pay 0.0100% / 8h2h 21m$2.52B$4.64B150x
ShortOrderly PERP_ETH_USDC2,7800.0133get 0.0133% / 8h2h 21m$32.6M$12.0M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Orderly 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
$6.87
Price spread: +0.098% → +0.080%
$1.79
Slippage, 4 orders
no order book: not counted
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Orderly: 3 bp × 2 orders
−$6
Net
−$8.34
Costs to cover
0.170%
Break-even
15.5 days
Slippage unknown: Bybit: live order book, 3 min ago; Orderly: 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 Bybit live order book, 3 min ago0.02 bp5.5 bp −$65.8 bp −$587.5 bp −$75210.6 bp −$5,305
Sell Orderly no order-book sample—————
Orderly: 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
Perpl ETH−0.0112%43m2,776−0.046%$289K$6.9M8.3xas long as short
Injective ETH/USDC PERP−0.0107%1h2,775.7−0.056%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,776.5−0.027%$5K$2K50xas long as short
01 Exchange ETHUSD−0.0056%1h2,778.2+0.034%$172K$1.2M50xas long as short
Phoenix ETH−0.0023%1h2,773.4−0.139%$858K$3.7M25xas long as short
RISEx ETH/USDC−0.0011%1h2,778+0.027%$5.8M$11.7M25xas long as short
dYdX ETH-USD0.0000%1h2,778.6+0.048%$12.7M$45.5M50xas long as short
Aftermath Perps ETHUSD+0.0004%1h2,773.9−0.120%$29K$22K20xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,778.1+0.032%$22.4M—200xas long as short
Phemex ETHUSDT+0.0013%8h2,777−0.009%$267.4M$66.0M150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0022%8h2,777−0.009%$1.71B$11.91B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0028% / S +0.0009%1h2,778.1+0.030%$13.2M—200xas long as short
Aster ETHUSDT+0.0039%8h2,778.1+0.029%$257.0M$995.8M200xas long as short
ApeX Omni ETHUSDT+0.0039%1h2,776.7−0.022%$8.8M$32.6M100xas long as short
MEXC ETH_USDT+0.0048%8h2,778.5+0.043%$1.61B$2.68B500xas long as short
Aevo ETH-PERP+0.0048%1h2,775.9−0.048%$5.0M$636K20xas long as short
Binance ETHUSDT+0.0049%8h2,777.7+0.016%$6.44B$17.23B150xas long as short
Gate ETH_USDT+0.0073%8h2,778.4+0.040%$3.29B$9.67B200xas long as short
Bitget ETHUSDT+0.0074%8h2,775.7−0.055%$2.10B$3.13B150xas long as short
Bullet ETH-USD+0.0082%1h2,775.9−0.049%$183K$1.8M20xas long as short
Variational Omni ETH+0.0092%8h2,774.2−0.112%$140.6M$320.2M—as long as short
Lighter ETH+0.0096%1h2,779.1+0.066%$115.3M$514.3M50xas long as short
Lighter RH ETH+0.0096%1h2,780.4+0.112%$25.4M$122.8M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,778.2+0.035%—$41.7M500xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,778.3+0.036%$16.0M$10.8M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,778.5+0.045%$489K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,777.6+0.011%$15.3M$117.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,778.7+0.052%$3.21B$2.39B25xas long as short
Pacifica ETH+0.0100%1h2,779+0.063%$31.3M$287.3M50xas long as short
Bybit ETHUSDTlong+0.0100%8h2,777.3long leg$2.52B$4.64B150x
Ondo Perps ETH-USD.P+0.0100%1h2,777.6+0.012%$2.9M$16.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,779.9+0.093%$2.8M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,778.1+0.030%$165.4M$253.6M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,778.5+0.044%$423.3M$741.9M100xas long as short
BingX ETH-USDC+0.0100%8h2,778.1+0.030%—$17.3M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,777.7+0.014%$15.4M$42.8M50xas long as short
edgeX ETHUSDC+0.0100%4h2,776.9−0.012%$178.5M$792.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,777−0.008%$161.6M$97.3M50xas long as short
StandX ETH-USD+0.0100%1h2,777−0.009%$21.4M$57.7M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,778.9+0.059%$10.8M$7.7M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,777.7+0.014%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,779.5+0.081%$42.8M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,775.6−0.059%$973K$14.2M100xas long as short
SoDEX ETH-USD+0.0100%1h2,777.1−0.006%$55.3M$228.6M40xas long as short
HTX ETH-USDT+0.0100%8h2,777.2−0.003%$1.08B$1.32B200xas long as short
Vest ETH-PERP+0.0100%1h2,778.1+0.030%—$1.1M50xas long as short
Extended ETH-USD+0.0104%1h2,777.5+0.007%$31.4M$75.9M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,778.9+0.057%$60.3M$4.63B50xas long as short
Deribit ETH-PERPETUAL+0.0121%1h2,778.9+0.058%$258.5M$224.9M50xas long as short
Kalshi KXETHPERP+0.0121%8h2,777.6+0.012%$8.6M$673.1M4.9xas long as short
Orderly PERP_ETH_USDCshort+0.0133%8h2,780+0.098%$32.6M$12.0M100x
BloFin ETH-USDT+0.0167%8h2,776.3−0.036%$285.2M$195.7M150xas long as short
Reya ETHRUSDPERP+0.0183%1h2,775.6−0.058%$7.4M$1.1M25xas long as short
Kraken Futures PF_ETHUSD+0.0240%1h2,778.4+0.043%$87.0M$330.7M100xas long as short
Hibachi ETH/USDT-P+0.0440%1h2,779.2+0.070%$284K$1.5M20xas long as short