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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 03:00 UTC−0.0088%/8h= −9.7% APRpaid last 24h −0.001%
Price spread now: Katana Perps against Deribit−0.026%7-day average −0.041% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on DeribitShort on Katana Perps
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)0.000%$0 on $10k
Price spread, last 4 days (all we have)+0.180%+$18 · spread now −0.026%, 7d avg −0.041%
Together, before fees+0.180%+$18 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.041%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongDeribit ETH-PERPETUAL2,743.90.0188pay 0.0023% / 1h11m 58s$259.8M$195.4M50x
ShortKatana Perps ETH-USD2,743.20.0100get 0.0100% / 8h5h 11m$468K$3.1M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Katana Perps against Deribit. 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
−$18.52
Price spread: −0.026% → −0.041%
$1.43
Slippage, 4 orders
no order book: not counted
Fee Deribit: 3.5 bp × 2 orders
−$7
Fee Katana Perps: 1.9 bp × 2 orders
−$3.8
Net
−$27.9
Costs to cover
0.108%
Break-even
never at this rate
Slippage unknown: Deribit: live order book, 2 min ago; Katana Perps: 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 Deribit live order book, 2 min ago0.09 bp3.6 bp −$44.6 bp −$4612.0 bp −$1,20022.0 bp −$11.0K
Sell Katana Perps no order-book sample—————
Katana Perps: 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
Hotstuff ETH-PERP−0.0080%1h2,743.5−0.015%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,746.8+0.105%$118K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,743−0.032%$12.1M—200xas long as short
dYdX ETH-USD0.0000%1h2,744.6+0.025%$10.8M$41.7M50xas long as short
Perpl ETH0.0000%43m2,743.1−0.032%$304K$5.6M8.3xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,743.1−0.030%$25.1M—200xas long as short
Phoenix ETH+0.0017%1h2,746.8+0.105%$848K$2.9M25xas long as short
01 Exchange ETHUSD+0.0024%1h2,743.7−0.008%$182K$836K50xas long as short
ApeX Omni ETHUSDT+0.0042%1h2,745.9+0.073%$8.8M$30.7M100xas long as short
BingX ETH-USDC+0.0053%8h2,742−0.070%—$18.4M—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0067%8h2,742.2−0.061%$1.70B$10.55B100xas long as short
KuCoin ETHUSDTM+0.0070%8h2,742.3−0.059%$381.7M$575.3M100xas long as short
Bullet ETH-USD+0.0074%1h2,742.6−0.047%$182K$1.7M20xas long as short
RISEx ETH/USDC+0.0077%1h2,743.6−0.013%$5.6M$11.4M25xas long as short
SoDEX ETH-USD+0.0087%1h2,742.3−0.059%$54.6M$187.6M40xas long as short
Aster ETHUSDT+0.0088%8h2,742.5−0.053%$253.7M$840.9M200xas long as short
Binance ETHUSDT+0.0095%8h2,742.3−0.059%$6.37B$15.68B150xas long as short
Lighter ETH+0.0096%1h2,742.5−0.052%$112.8M$435.6M50xas long as short
Lighter RH ETH+0.0096%1h2,743.9+0.001%$24.6M$104.1M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,743.4−0.018%—$30.4M500xas long as short
MEXC ETH_USDT+0.0096%8h2,742.3−0.060%$1.57B$2.56B500xas long as short
Aevo ETH-PERP+0.0096%1h2,741.4−0.092%$4.9M$154K20xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,743.6−0.012%$56.6M$4.25B50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,747.2+0.118%$16.0M$7.9M50xas long as short
Katana Perps ETH-USDshort+0.0100%8h2,743.2−0.026%$468K$3.1M50x
Nado ETH-PERP+0.0100%1h2,743.3−0.024%$13.9M$104.9M50xas long as short
Hyperliquid ETH+0.0100%1h2,744.6+0.025%$3.12B$2.06B25xas long as short
Pacifica ETH+0.0100%1h2,744.2+0.010%$31.7M$334.5M50xas long as short
Bybit ETHUSDT+0.0100%8h2,742.3−0.058%$2.45B$4.17B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,743.3−0.023%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,743.7−0.009%$2.8M$16.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,746.6+0.097%$165.7M$303.2M25xas long as short
Gate ETH_USDT+0.0100%8h2,742.5−0.052%$3.39B$8.77B200xas long as short
Bitget ETHUSDT+0.0100%8h2,742.4−0.055%$2.08B$2.72B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,741.8−0.078%$15.0M$39.4M50xas long as short
Variational Omni ETH+0.0100%8h2,746.6+0.098%$133.5M$325.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,745.6+0.060%$182.5M$673.8M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,746.7+0.100%$159.7M$83.5M50xas long as short
StandX ETH-USD+0.0100%1h2,745.8+0.069%$21.2M$67.8M40xas long as short
Vest ETH-PERP+0.0100%1h2,744.1+0.006%—$815K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,744.2+0.010%$11.0M$8.8M50xas long as short
Derive ETH-PERP+0.0100%1h2,744.1+0.008%$41.5M$29.6M15xas long as short
SunX ETH-USDT+0.0100%8h2,742−0.070%$961K$11.5M100xas long as short
HTX ETH-USDT+0.0100%8h2,742.6−0.050%$1.06B$1.17B200xas long as short
Phemex ETHUSDT+0.0100%8h2,742.6−0.048%$266.6M$64.9M150xas long as short
Extended ETH-USD+0.0104%1h2,741.5−0.087%$30.7M$72.0M50xas long as short
Aftermath Perps ETHUSD+0.0127%1h2,745.3+0.051%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0159%8h2,743.8−0.004%$7.8M$670.3M4.9xas long as short
Deribit ETH-PERPETUALlong+0.0188%1h2,743.9long leg$259.8M$195.4M50x
Orderly PERP_ETH_USDC+0.0195%8h2,744.7+0.029%$32.3M$11.4M100xas long as short
Kraken Futures PF_ETHUSD+0.0221%1h2,743.3−0.022%$86.5M$310.1M100xas long as short
Reya ETHRUSDPERP+0.0228%1h2,741.9−0.074%$7.3M$1.2M25xas long as short
BloFin ETH-USDT+0.0246%8h2,743−0.033%$285.6M$180.9M150xas long as short
Hibachi ETH/USDT-P+0.0256%1h2,745.3+0.052%$252K$1.4M20xas long as short
Bluefin ETH-PERP+0.0421%1h2,743.3−0.024%$21K$20K25xas long as short