ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0064%/8h= −7.1% APRnext payment −$0.08 per $10,000 · paid last 24h −0.005%

Price spread now: Bullet against Coinbase International−0.073%7-day average −0.036% · 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−$23as in the Price arb table

costs, in and out, $10k−$200.199% of the position

Long on Coinbase International Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.043%−$4 on $10k

Price spread, last 3 days (all we have)+0.055%+$5 · spread now −0.073%, 7d avg −0.036%

Together, before fees+0.012%+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bullet is 0.036% cheaper against Coinbase International than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.036%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ETH-PERP-INTX	2,768.6	0.0080	pay 0.0010% / 1h	6m 09s	$60.3M	$4.40B	50x
Short	Bullet ETH-USD	2,766.6	0.0016	get 0.0002% / 1h	6m 09s	$184K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Coinbase International. 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

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee BulletbpOrdersPrice spread, now −0.073%Rate

Funding earned: −$13.54
Price spread: −0.073% → −0.036%: −$3.61
Slippage, 4 orders: −$1.85
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$37
Costs to cover: 0.199%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; Bullet: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Coinbase International live order book, 3 min ago	0.02 bp	5.0 bp −$5	5.0 bp −$50	8.1 bp −$805	29.8 bp −$14.9K
Sell Bullet live order book, 3 min ago	0.18 bp	4.8 bp −$5	9.1 bp −$91	doesn't fit	doesn't fit

ETH on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective ETH/USDC PERP	−0.0752%	1h	2,773.8	+0.188%	$119K	$22.5M	52x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,766.8	−0.066%	$5.6M	$11.1M	25x	as long as short
Perpl ETH	−0.0112%	43m	2,767.3	−0.048%	$322K	$6.2M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,769	+0.014%	$5K	$1K	50x	as long as short
01 Exchange ETHUSD	−0.0032%	1h	2,766.7	−0.069%	$169K	$1.1M	50x	as long as short
Phoenix ETH	−0.0003%	1h	2,770.8	+0.079%	$872K	$3.7M	25x	as long as short
dYdX ETH-USD	+0.0001%	1h	2,768.6	+0.001%	$12.3M	$43.0M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,767.2	−0.049%	$22.4M	—	200x	as long as short
Bullet ETH-USDshort	+0.0016%	1h	2,766.6	−0.073%	$184K	$1.7M	20x
OKX ETH-USDT-SWAP	+0.0033%	8h	2,767.4	−0.044%	$1.70B	$10.96B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex ETHUSDT	+0.0036%	8h	2,767.6	−0.036%	$269.3M	$65.8M	150x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0043% / S −0.0009%	1h	2,767	−0.056%	$12.7M	—	200x	as long as short
SoDEX ETH-USD	+0.0048%	1h	2,767.1	−0.054%	$55.1M	$187.7M	40x	as long as short
Aster ETHUSDT	+0.0051%	8h	2,767.5	−0.039%	$260.6M	$849.7M	200x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,765.3	−0.118%	$5.0M	$156K	20x	as long as short
MEXC ETH_USDT	+0.0059%	8h	2,767.3	−0.048%	$1.61B	$2.66B	500x	as long as short
Binance ETHUSDT	+0.0060%	8h	2,767.4	−0.042%	$6.47B	$16.03B	150x	as long as short
Aftermath Perps ETHUSD	+0.0072%	1h	2,771	+0.086%	$31K	$21K	20x	as long as short
HTX ETH-USDT	+0.0074%	8h	2,767.6	−0.036%	$1.07B	$1.22B	200x	as long as short
Bitget ETHUSDT	+0.0080%	8h	2,767.1	−0.053%	$2.10B	$2.82B	150x	as long as short
Coinbase International ETH-PERP-INTXlong	+0.0080%	1h	2,768.6	long leg	$60.3M	$4.40B	50x
Gate ETH_USDT	+0.0082%	8h	2,766.8	−0.065%	$3.37B	$9.11B	200x	as long as short
Vest ETH-PERP	+0.0086%	1h	2,768	−0.021%	—	$870K	50x	as long as short
KuCoin ETHUSDTM	+0.0089%	8h	2,766.9	−0.061%	$419.7M	$589.3M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,768	−0.023%	$115.0M	$460.3M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,769.3	+0.023%	$25.5M	$112.2M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,771.9	+0.120%	$15.9M	$8.2M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,766.7	−0.069%	$485K	$2.8M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,766.7	−0.070%	$14.5M	$112.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,769.1	+0.018%	$3.16B	$2.10B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,768.4	−0.007%	$31.3M	$328.9M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,767.6	−0.036%	$2.50B	$4.27B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,766.3	−0.083%	$2.8M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,767.4	−0.045%	$2.8M	$16.7M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,771.7	+0.112%	$172.0M	$293.3M	25x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,766.8	−0.066%	—	$1.20B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,769.6	+0.036%	$15.1M	$42.1M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,766.4	−0.080%	$134.4M	$347.2M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,773.2	+0.167%	$184.0M	$750.7M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,772.6	+0.145%	$161.2M	$83.8M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,773.5	+0.178%	$8.9M	$31.4M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,771.4	+0.101%	$21.4M	$64.4M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,766.4	−0.079%	$10.5M	$7.9M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,767.2	−0.052%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,768.5	−0.004%	$42.5M	$28.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,766.1	−0.089%	$969K	$12.7M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,765.9	−0.098%	$30.9M	$74.4M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,770.3	+0.060%	—	$35.9M	500x	as long as short
Kalshi KXETHPERP	+0.0119%	8h	2,768.7	+0.004%	$8.1M	$673.3M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,769	+0.015%	$97.8M	$314.5M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0157%	8h	2,769	+0.013%	$32.6M	$11.0M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0158%	1h	2,768.9	+0.010%	$259.1M	$201.5M	50x	as long as short
Hibachi ETH/USDT-P	+0.0160%	1h	2,771.8	+0.115%	$253K	$1.5M	20x	as long as short
BloFin ETH-USDT	+0.0180%	8h	2,770.2	+0.059%	$287.4M	$175.1M	150x	as long as short
Reya ETHRUSDPERP	+0.0215%	1h	2,766.6	−0.072%	$7.3M	$1.1M	25x	as long as short