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Funding arb · Price arb /

ETH

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Alert: spread
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Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%
Price spread now: Polymarket Perps against Coinbase International−0.075%7-day average −0.020% · you buy dearer than you sell
Net, funding: paid 7d − costs−$19as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$190.188% of the position
Long on Coinbase InternationalShort on Polymarket Perps
What this pair did over the last
the charts below follow
Funding, last 7 days−0.004%$0 on $10k
Price spread, last 4 days (all we have)+0.166%+$17 · spread now −0.075%, 7d avg −0.020%
Together, before fees+0.162%+$16 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: Polymarket Perps is 0.055% cheaper against Coinbase International than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.020%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongCoinbase International ETH-PERP-INTX2,743.40.0096pay 0.0012% / 1h35m 51s$58.6M$4.27B50x
ShortPolymarket Perps ETH-USD2,741.30.0100get 0.0013% / 1h35m 51s$11.0M$8.8M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Coinbase International. 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
$0.84
Price spread: −0.075% → −0.020%
−$5.54
Slippage, 4 orders
−$0.77
Fee Coinbase International: 5 bp × 2 orders
−$10
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Net
−$23.47
Costs to cover
0.188%
Break-even
202.6 days
Slippage from Coinbase International: live order book, 3 min ago; Polymarket Perps: live order book, 3 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 Coinbase International live order book, 3 min ago0.02 bp5.0 bp −$55.0 bp −$507.8 bp −$78223.5 bp −$11.8K
Sell Polymarket Perps live order book, 3 min ago0.37 bp4.4 bp −$44.4 bp −$4411.6 bp −$1,162doesn'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%1h2,739.8−0.130%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,743.1−0.009%$118K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,741.3−0.077%$12.1M—200xas long as short
dYdX ETH-USD0.0000%1h2,740.4−0.107%$10.8M$41.8M50xas long as short
Perpl ETH0.0000%43m2,740.7−0.096%$304K$5.6M8.3xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,741.6−0.065%$22.1M—200xas long as short
Phoenix ETH+0.0017%1h2,744.7+0.049%$846K$2.9M25xas long as short
01 Exchange ETHUSD+0.0040%1h2,740.9−0.090%$182K$916K50xas long as short
BingX ETH-USDC+0.0049%8h2,741.1−0.083%—$18.5M—as long as short
KuCoin ETHUSDTM+0.0063%8h2,741.7−0.060%$383.1M$597.1M100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
ApeX Omni ETHUSDT+0.0063%1h2,738.7−0.171%$8.8M$31.0M100xas long as short
OKX ETH-USDT-SWAP+0.0064%8h2,741.2−0.077%$1.70B$10.57B100xas long as short
RISEx ETH/USDC+0.0077%1h2,740.9−0.088%$5.6M$11.2M25xas long as short
Bullet ETH-USD+0.0078%1h2,740.8−0.093%$180K$1.7M20xas long as short
Aster ETHUSDT+0.0078%8h2,741.5−0.069%$252.2M$841.3M200xas long as short
Aevo ETH-PERP+0.0088%1h2,739.6−0.139%$4.9M$155K20xas long as short
Binance ETHUSDT+0.0088%8h2,741.5−0.069%$6.37B$15.70B150xas long as short
MEXC ETH_USDT+0.0089%8h2,742.1−0.045%$1.56B$2.54B500xas long as short
HTX ETH-USDT+0.0094%8h2,741.7−0.059%$1.06B$1.18B200xas long as short
Lighter ETH+0.0096%1h2,742.5−0.030%$112.7M$433.0M50xas long as short
Lighter RH ETH+0.0096%1h2,743.8+0.016%$24.6M$103.8M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,741−0.086%—$30.7M500xas long as short
Coinbase International ETH-PERP-INTXlong+0.0096%1h2,743.4long leg$58.6M$4.27B50x
Paradex ETH-USD-PERP+0.0100%8h2,744.7+0.048%$16.0M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,739.7−0.133%$468K$3.0M50xas long as short
Nado ETH-PERP+0.0100%1h2,739.8−0.129%$13.9M$105.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,744.1+0.027%$3.12B$2.06B25xas long as short
Pacifica ETH+0.0100%1h2,741.4−0.071%$31.6M$335.1M50xas long as short
Bybit ETHUSDT+0.0100%8h2,741.4−0.073%$2.45B$4.17B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,740.9−0.090%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,741.3−0.074%$2.7M$16.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,743.5+0.006%$165.1M$304.9M25xas long as short
Gate ETH_USDT+0.0100%8h2,741.6−0.063%$3.39B$8.72B200xas long as short
Bitget ETHUSDT+0.0100%8h2,742.2−0.041%$2.08B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,741.5−0.068%$15.0M$40.9M50xas long as short
Variational Omni ETH+0.0100%8h2,740.7−0.098%$132.6M$333.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,739.2−0.151%$182.0M$689.8M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,738.8−0.165%$159.2M$83.5M50xas long as short
StandX ETH-USD+0.0100%1h2,739.4−0.144%$21.2M$68.5M40xas long as short
Vest ETH-PERP+0.0100%1h2,740.6−0.101%—$819K50xas long as short
Polymarket Perps ETH-USDshort+0.0100%1h2,741.3−0.075%$11.0M$8.8M50x
Derive ETH-PERP+0.0100%1h2,743.4+0.002%$41.5M$29.6M15xas long as short
SunX ETH-USDT+0.0100%8h2,739.9−0.128%$960K$11.5M100xas long as short
SoDEX ETH-USD+0.0100%1h2,742−0.050%$54.6M$187.5M40xas long as short
Phemex ETHUSDT+0.0100%8h2,741.9−0.054%$266.7M$65.0M150xas long as short
Extended ETH-USD+0.0104%1h2,741.3−0.076%$30.6M$72.4M50xas long as short
Aftermath Perps ETHUSD+0.0134%1h2,741.2−0.079%$30K$20K20xas long as short
Bluefin ETH-PERP+0.0139%1h2,741.4−0.071%$21K$20K25xas long as short
Kalshi KXETHPERP+0.0157%8h2,741.1−0.082%$7.6M$669.3M4.9xas long as short
Deribit ETH-PERPETUAL+0.0158%1h2,743.2−0.005%$258.7M$196.1M50xas long as short
Orderly PERP_ETH_USDC+0.0189%8h2,743.5+0.004%$32.3M$11.4M100xas long as short
BloFin ETH-USDT+0.0209%8h2,738.6−0.175%$284.5M$181.8M150xas long as short
Kraken Futures PF_ETHUSD+0.0221%1h2,742.9−0.015%$87.1M$310.2M100xas long as short
Reya ETHRUSDPERP+0.0226%1h2,739.8−0.129%$7.3M$1.1M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,741.4−0.070%$252K$1.4M20xas long as short