ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0018%/8h= −2.0% APRnext payment −$0.02 per $10,000 · paid last 24h +0.006%

Price spread now: Deribit against Coinbase International+0.018%7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$180.179% of the position

Long on Coinbase International Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.045%−$5 on $10k

Price spread, last 4 days (all we have)−0.013%−$1 · spread now +0.018%, 7d avg +0.010%

Together, before fees−0.058%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.010%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ETH-PERP-INTX	2,728.2	0.0120	pay 0.0015% / 1h	59m 48s	$50.2M	$4.28B	50x
Short	Deribit ETH-PERPETUAL	2,728.7	0.0102	get 0.0013% / 1h	59m 48s	$258.5M	$202.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.018%Rate

Funding earned: −$3.78
Price spread: +0.018% → +0.010%: $0.82
Slippage, 4 orders: −$0.87
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$20.83
Costs to cover: 0.179%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; Deribit: live order book, 4 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, 4 min ago	0.02 bp	5.0 bp −$5	5.0 bp −$50	7.6 bp −$759	22.1 bp −$11.0K
Sell Deribit live order book, 4 min ago	0.09 bp	3.9 bp −$4	4.9 bp −$49	10.2 bp −$1,017	21.1 bp −$10.5K

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
Perpl ETH	−0.0335%	43m	2,727.1	−0.042%	$290K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,727.6	−0.022%	$5K	$1K	50x	as long as short
HTX ETH-USDT	−0.0022%	8h	2,727.1	−0.039%	$1.05B	$1.20B	200x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,727.2	−0.036%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,731.9	+0.136%	$816K	$2.9M	25x	as long as short
dYdX ETH-USD	+0.0006%	1h	2,727.7	−0.019%	$10.7M	$42.1M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,727.3	−0.033%	$28.0M	—	200x	as long as short
BingX ETH-USDC	+0.0031%	8h	2,726.4	−0.065%	—	$18.5M	—	as long as short
Bybit ETHUSDT	+0.0036%	8h	2,727.5	−0.026%	$2.36B	$4.39B	150x	as long as short
Bullet ETH-USD	+0.0042%	1h	2,726.9	−0.048%	$178K	$1.7M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ETHUSD	+0.0048%	1h	2,727.6	−0.022%	$186K	$784K	50x	as long as short
SunX ETH-USDT	+0.0056%	8h	2,726.2	−0.072%	$956K	$11.2M	100x	as long as short
KuCoin ETHUSDTM	+0.0063%	8h	2,727.5	−0.025%	$377.6M	$575.8M	100x	as long as short
ApeX Omni ETHUSDT	+0.0070%	1h	2,727.1	−0.042%	$8.7M	$31.2M	100x	as long as short
Aster ETHUSDT	+0.0077%	8h	2,728.5	+0.010%	$252.6M	$842.9M	200x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,724.8	−0.125%	$4.9M	$155K	20x	as long as short
MEXC ETH_USDT	+0.0082%	8h	2,727.5	−0.026%	$1.56B	$2.59B	500x	as long as short
Binance ETHUSDT	+0.0082%	8h	2,727.4	−0.028%	$6.33B	$15.97B	150x	as long as short
OKX ETH-USDT-SWAP	+0.0083%	8h	2,728	−0.007%	$1.67B	$10.74B	100x	as long as short
Phemex ETHUSDT	+0.0089%	8h	2,727.2	−0.037%	$264.1M	$64.0M	150x	as long as short
Aftermath Perps ETHUSD	+0.0092%	1h	2,728.3	+0.004%	$30K	$20K	20x	as long as short
Lighter ETH	+0.0096%	1h	2,728.8	+0.022%	$111.9M	$428.0M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,730.5	+0.084%	$23.4M	$102.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,727	−0.045%	—	$31.0M	500x	as long as short
Injective ETH/USDC PERP	+0.0096%	1h	2,728.9	+0.026%	$117K	$22.5M	52x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,726.5	−0.062%	$499K	$3.4M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,729.1	+0.033%	$15.4M	$8.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,726.5	−0.061%	$13.8M	$104.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,730.3	+0.077%	$3.09B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,727.4	−0.028%	$31.9M	$334.0M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,726.8	−0.051%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,727.6	−0.021%	$1.5M	$16.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,727.5	−0.026%	$3.33B	$8.99B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,728.6	+0.015%	$2.08B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,727.1	−0.041%	$15.0M	$42.3M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,726.2	−0.073%	$134.1M	$323.0M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,728.5	+0.011%	$183.5M	$672.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,729.5	+0.047%	$158.8M	$87.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,727.1	−0.040%	$21.0M	$73.6M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,728.2	−0.001%	—	$846K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,728.4	+0.007%	$11.2M	$9.5M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,727.3	−0.034%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,728.7	+0.020%	$40.9M	$30.1M	15x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,727.5	−0.026%	$54.3M	$187.8M	40x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,726.9	−0.046%	$164.5M	$309.8M	25x	as long as short
Deribit ETH-PERPETUALshort	+0.0102%	1h	2,728.7	+0.018%	$258.5M	$202.8M	50x
Extended ETH-USD	+0.0104%	1h	2,726.5	−0.064%	$30.6M	$73.7M	50x	as long as short
RISEx ETH/USDC	+0.0107%	1h	2,727.8	−0.016%	$5.6M	$11.7M	25x	as long as short
Kalshi KXETHPERP	+0.0113%	8h	2,727.8	−0.015%	$6.4M	$688.1M	4.9x	as long as short
Coinbase International ETH-PERP-INTXlong	+0.0120%	1h	2,728.2	long leg	$50.2M	$4.28B	50x
Kraken Futures PF_ETHUSD	+0.0153%	1h	2,728.1	−0.005%	$82.8M	$316.8M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0190%	8h	2,729.2	+0.037%	$32.1M	$11.6M	100x	as long as short
Reya ETHRUSDPERP	+0.0206%	1h	2,726.3	−0.069%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0232%	1h	2,728.3	+0.003%	$249K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0330%	8h	2,727.2	−0.036%	$281.6M	$174.5M	150x	as long as short