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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 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%
Price spread now: Variational Omni against Bybit−0.025%7-day average +0.006% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on BybitShort on Variational Omni
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.015%+$1 on $10k
Price spread, last 7 days+0.010%+$1 · spread now −0.025%, 7d avg +0.006%
Together, before fees+0.025%+ Points / potential airdropVariational Omni: Active · farm board+$3 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.031% cheaper against Bybit than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.006%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit ETHUSDT2,736.90.0100pay 0.0100% / 8h5h 37m$2.45B$4.19B150x
ShortVariational Omni ETH2,736.20.0100get 0.0100% / 8h5h 37m$132.4M$335.9M—

Funding history

latest
Range statsloading…

Price spread between the two exchanges

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

Funding on every exchange

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

Profit calculator

Funding earned
$0
Price spread: −0.025% → +0.006%
−$3.08
Slippage, 4 orders
no order book: not counted
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Variational Omni: 0 bp × 2 orders
$0
Net
−$14.08
Costs to cover
0.110%
Break-even
never at this rate
Slippage unknown: Bybit: live order book, 1 min ago; Variational Omni: RFQ quote, 1 min ago. 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, 1 min ago0.02 bp5.5 bp −$65.5 bp −$556.6 bp −$6598.7 bp −$4,352
Sell Variational Omni RFQ quote, 1 min ago0.51 bpdoesn't fit0.5 bp −$53.6 bp −$361doesn'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
Hotstuff ETH-PERP−0.0080%1h2,739.4+0.091%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,743.1+0.227%$118K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,737.5+0.023%$12.0M—200xas long as short
dYdX ETH-USD0.0000%1h2,738.9+0.072%$10.8M$41.8M50xas long as short
Perpl ETH0.0000%43m2,738.8+0.068%$304K$5.6M8.3xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,737.4+0.018%$22.1M—200xas long as short
Phoenix ETH+0.0017%1h2,744.7+0.285%$846K$2.9M25xas long as short
01 Exchange ETHUSD+0.0040%1h2,737.7+0.029%$182K$916K50xas long as short
BingX ETH-USDC+0.0049%8h2,736.5−0.013%—$18.4M—as long as short
KuCoin ETHUSDTM+0.0063%8h2,737+0.005%$382.8M$597.3M100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0063%8h2,737.1+0.007%$1.70B$10.56B100xas long as short
RISEx ETH/USDC+0.0077%1h2,738.1+0.045%$5.6M$11.2M25xas long as short
Bullet ETH-USD+0.0077%1h2,737.2+0.011%$181K$1.7M20xas long as short
Aster ETHUSDT+0.0080%8h2,736.8−0.003%$251.8M$841.3M200xas long as short
Aevo ETH-PERP+0.0088%1h2,734.1−0.101%$4.9M$155K20xas long as short
MEXC ETH_USDT+0.0089%8h2,736.8−0.004%$1.55B$2.53B500xas long as short
Binance ETHUSDT+0.0090%8h2,737.1+0.008%$6.36B$15.71B150xas long as short
HTX ETH-USDT+0.0094%8h2,736.2−0.027%$1.06B$1.18B200xas long as short
Lighter ETH+0.0096%1h2,736.7−0.007%$112.5M$432.8M50xas long as short
Lighter RH ETH+0.0096%1h2,737.4+0.019%$24.6M$103.7M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,739.2+0.085%—$30.8M500xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,737+0.003%$58.5M$4.26B50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,742.8+0.215%$16.0M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,737.8+0.033%$468K$3.0M50xas long as short
Nado ETH-PERP+0.0100%1h2,738.7+0.064%$13.9M$106.1M50xas long as short
Hyperliquid ETH+0.0100%1h2,739.1+0.080%$3.11B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,739.3+0.088%$31.6M$335.1M50xas long as short
Bybit ETHUSDTlong+0.0100%8h2,736.9long leg$2.45B$4.19B150x
Ondo Perps ETH-USD.P+0.0100%1h2,737.4+0.018%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,738.6+0.061%$2.7M$16.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,743.5+0.242%$165.1M$304.9M25xas long as short
Gate ETH_USDT+0.0100%8h2,737.4+0.018%$3.38B$8.71B200xas long as short
Bitget ETHUSDT+0.0100%8h2,737.2+0.010%$2.07B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,735.8−0.040%$14.9M$40.9M50xas long as short
Variational Omni ETHshort+0.0100%8h2,736.2−0.025%$132.4M$335.9M—
edgeX ETHUSDC+0.0100%4h2,739.2+0.085%$182.0M$689.8M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,743.5+0.242%$159.5M$82.5M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,742.5+0.203%$8.9M$31.0M100xas long as short
StandX ETH-USD+0.0100%1h2,739.5+0.095%$21.2M$68.8M40xas long as short
Vest ETH-PERP+0.0100%1h2,738.6+0.064%—$819K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,738.3+0.051%$10.9M$8.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,764.7+1.017%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,738.6+0.061%$41.4M$29.6M15xas long as short
SunX ETH-USDT+0.0100%8h2,736.4−0.019%$960K$11.5M100xas long as short
SoDEX ETH-USD+0.0100%1h2,736.4−0.018%$54.5M$187.5M40xas long as short
Phemex ETHUSDT+0.0100%8h2,736.9−0.001%$266.2M$65.0M150xas long as short
Extended ETH-USD+0.0104%1h2,736.8−0.005%$30.6M$72.4M50xas long as short
Deribit ETH-PERPETUAL+0.0134%1h2,738+0.039%$258.7M$196.1M50xas long as short
Aftermath Perps ETHUSD+0.0135%1h2,741.5+0.168%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0156%8h2,738.6+0.062%$7.7M$668.7M4.9xas long as short
Orderly PERP_ETH_USDC+0.0189%8h2,739.1+0.079%$32.2M$11.4M100xas long as short
BloFin ETH-USDT+0.0210%8h2,738.4+0.054%$284.3M$177.3M150xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,737+0.004%$86.9M$310.3M100xas long as short
Reya ETHRUSDPERP+0.0226%1h2,736.5−0.016%$7.2M$1.1M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,739.9+0.110%$251K$1.4M20xas long as short