Settings8H · net · $10k
FundingCostsSizeExchangesMy alerts
Funding arb · Price arb /

ETH

all ETH markets
SwapBacktest
Alert: funding
Measured
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 07:00 UTC+0.0110%/8h= +12.1% APRnext payment +$0.14 per $10,000 · paid last 24h −0.002%
Price spread now: Kraken Futures against Derive−0.052%7-day average −0.048% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on DeriveShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 7 days−0.032%−$3 on $10k
Price spread, last 4 days (all we have)+0.002%$0 · spread now −0.052%, 7d avg −0.048%
Together, before fees−0.030%−$3 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.048%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongDerive ETH-PERP2,733.90.0100pay 0.0013% / 1h57m 55s$41.0M$30.2M15x
ShortKraken Futures PF_ETHUSD2,732.50.0210get 0.0026% / 1h57m 55s$83.5M$311.3M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures against Derive. 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
$23.2
Price spread: −0.052% → −0.048%
−$0.44
Slippage, 4 orders
no order book: not counted
Fee Derive: 3 bp × 2 orders
−$6
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$6.75
Costs to cover
0.160%
Break-even
5.0 days
Slippage unknown: Derive: no order-book sample; Kraken Futures: live order book, 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 Derive no order-book sample—————
Sell Kraken Futures live order book, 1 min ago0.18 bp5.7 bp −$66.4 bp −$647.8 bp −$78412.0 bp −$6,007
Derive: 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
Perpl ETH−0.0112%43m2,733.5−0.015%$296K$5.7M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,733.90.000%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0040%1h2,740+0.223%$118K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,733.1−0.031%$12.0M—200xas long as short
Phoenix ETH−0.0009%1h2,736+0.077%$817K$2.9M25xas long as short
dYdX ETH-USD0.0000%1h2,733.1−0.030%$10.5M$42.9M50xas long as short
Deribit ETH-PERPETUAL0.0000%1h2,732.7−0.044%$260.2M$211.2M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,732.8−0.038%$33.0M—200xas long as short
HTX ETH-USDT+0.0010%8h2,732.1−0.067%$1.05B$1.22B200xas long as short
01 Exchange ETHUSD+0.0024%1h2,734.8+0.033%$192K$887K50xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0035%8h2,731.7−0.082%—$18.5M—as long as short
Bybit ETHUSDT+0.0043%8h2,732.4−0.054%$2.35B$4.42B150xas long as short
SoDEX ETH-USD+0.0063%1h2,732.2−0.062%$54.4M$187.5M40xas long as short
KuCoin ETHUSDTM+0.0079%8h2,732.6−0.048%$375.3M$577.8M100xas long as short
Aftermath Perps ETHUSD+0.0084%1h2,734.8+0.034%$30K$20K20xas long as short
SunX ETH-USDT+0.0092%8h2,733.5−0.015%$957K$11.1M100xas long as short
Bullet ETH-USD+0.0095%1h2,732.9−0.036%$182K$1.7M20xas long as short
OKX ETH-USDT-SWAP+0.0096%8h2,732.4−0.054%$1.66B$10.94B100xas long as short
Aster ETHUSDT+0.0096%8h2,732.8−0.039%$253.2M$848.6M200xas long as short
Lighter ETH+0.0096%1h2,732.7−0.043%$112.4M$430.6M50xas long as short
Lighter RH ETH+0.0096%1h2,734.1+0.007%$23.5M$102.6M50xas long as short
Aevo ETH-PERP+0.0096%1h2,729.8−0.151%$4.9M$150K20xas long as short
Nado ETH-PERP+0.0097%1h2,733.3−0.021%$14.1M$105.5M50xas long as short
ApeX Omni ETHUSDT+0.0098%1h2,734.5+0.022%$8.7M$31.5M100xas long as short
Katana Perps ETH-USD+0.0100%8h2,733.8−0.003%$509K$3.5M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,738.1+0.155%$15.3M$8.0M50xas long as short
Hyperliquid ETH+0.0100%1h2,734.5+0.022%$3.11B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,734.9+0.037%$32.0M$334.2M50xas long as short
Binance ETHUSDT+0.0100%8h2,733−0.034%$6.34B$16.16B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,734+0.004%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,734.7+0.030%$1.5M$16.2M25xas long as short
Bulk ETH-USD+0.0100%1h2,735+0.040%$163.2M$327.7M25xas long as short
Gate ETH_USDT+0.0100%8h2,732.1−0.065%$3.28B$8.91B200xas long as short
MEXC ETH_USDT+0.0100%8h2,732.7−0.044%$1.53B$2.57B500xas long as short
Bitget ETHUSDT+0.0100%8h2,732.5−0.051%$2.09B$2.78B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,732−0.069%$15.1M$42.6M50xas long as short
Variational Omni ETH+0.0100%8h2,734+0.004%$134.8M$325.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,734.5+0.024%$185.5M$682.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,735.4+0.055%$159.1M$87.6M50xas long as short
StandX ETH-USD+0.0100%1h2,733.7−0.007%$21.0M$70.2M40xas long as short
Vest ETH-PERP+0.0100%1h2,735+0.042%—$879K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,735.1+0.044%$11.2M$9.5M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,733.1−0.028%$22K$21K25xas long as short
Derive ETH-PERPlong+0.0100%1h2,733.9long leg$41.0M$30.2M15x
Phemex ETHUSDT+0.0100%8h2,732.6−0.046%$263.5M$65.1M150xas long as short
Extended ETH-USD+0.0104%1h2,731.6−0.082%$30.3M$74.2M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,732.6−0.046%—$31.3M500xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,733.7−0.006%$50.3M$4.32B50xas long as short
Kalshi KXETHPERP+0.0115%8h2,733.6−0.011%$6.8M$692.4M4.9xas long as short
RISEx ETH/USDC+0.0115%1h2,735+0.039%$5.6M$11.8M25xas long as short
Orderly PERP_ETH_USDC+0.0187%8h2,734.7+0.028%$32.2M$11.6M100xas long as short
Reya ETHRUSDPERP+0.0196%1h2,732.5−0.050%$7.3M$1.1M25xas long as short
Kraken Futures PF_ETHUSDshort+0.0210%1h2,732.5−0.052%$83.5M$311.3M100x
Hibachi ETH/USDT-P+0.0280%1h2,733.3−0.023%$248K$1.4M20xas long as short
BloFin ETH-USDT+0.0400%8h2,732−0.070%$281.4M$175.2M150xas long as short