ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0091%/8h= +10.0% APRnext payment +$0.11 per $10,000 · paid last 24h −0.001%

Price spread now: Reya against Derive−0.151%51s7-day average −0.076% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Derive Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.003%$0 on $10k

Price spread, last 3 days (all we have)+0.114%+$11 · spread now −0.151%, 7d avg −0.076%

Together, before fees+0.117%+ Points / potential airdropReya: Active · farm board+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Reya is 0.075% cheaper against Derive than usual: you would sell low and buy high (spread −0.151% now, against its 7-day average of −0.076%). If the spread goes back, that is −$8 on $10k: about 2.7 days of funding at the current rate (+$3 a day). At the pace of the last 3 days (+0.003% in total) that is about 3 months. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive ETH-PERP	2,776.6	0.0100	pay 0.0013% / 1h	26m 22s	$42.7M	$29.3M	15x
Short	Reya ETHRUSDPERP	2,772.4	0.0191	get 0.0024% / 1h	26m 22s	$7.4M	$1.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Derive. 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

Position, each leg$Hold fordaysFee DerivebpFee ReyabpOrdersPrice spread, now −0.151%Rate

Funding earned: $19.16
Price spread: −0.151% → −0.076%: −$7.5
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Reya: 3 bp × 2 orders: −$6
Net: −$0.35
Costs to cover: 0.120%
Break-even: 7.1 days

Slippage unknown: Derive: no order-book sample; Reya: 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Derive no order-book sample	—	—	—	—	—
Sell Reya no order-book sample	—	—	—	—	—

Derive and Reya: 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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ETH	−0.0447%	43m	2,772.4	−0.151%	$287K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,771.2	−0.193%	$5.8M	$12.0M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,772.9	−0.132%	$5K	$2K	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,770.3	−0.226%	$119K	$22.5M	52x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,772.2	−0.158%	$169K	$1.2M	50x	as long as short
Aftermath Perps ETHUSD	−0.0017%	1h	2,773.7	−0.102%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,773.3	−0.119%	$12.7M	$45.5M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,769.6	−0.251%	$883K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,773.3	−0.119%	$22.4M	—	200x	as long as short
BingX ETH-USDT	+0.0017%	8h	2,772.5	−0.146%	—	$1.18B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex ETHUSDT	+0.0021%	8h	2,774.4	−0.078%	$269.7M	$68.9M	150x	as long as short
OKX ETH-USDT-SWAP	+0.0021%	8h	2,772.5	−0.149%	$1.70B	$11.84B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0027% / S +0.0009%	1h	2,773.2	−0.122%	$13.0M	—	200x	as long as short
Aster ETHUSDT	+0.0032%	8h	2,772.4	−0.149%	$255.9M	$991.0M	200x	as long as short
Bullet ETH-USD	+0.0036%	1h	2,772.3	−0.153%	$180K	$1.7M	20x	as long as short
MEXC ETH_USDT	+0.0060%	8h	2,772.4	−0.149%	$1.62B	$2.66B	500x	as long as short
Binance ETHUSDT	+0.0060%	8h	2,772.5	−0.147%	$6.42B	$17.17B	150x	as long as short
Nado ETH-PERP	+0.0060%	1h	2,772.1	−0.160%	$14.3M	$118.1M	50x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,772.2	−0.158%	$5.0M	$636K	20x	as long as short
Bitget ETHUSDT	+0.0071%	8h	2,772.6	−0.144%	$2.10B	$3.10B	150x	as long as short
ApeX Omni ETHUSDT	+0.0073%	1h	2,772.4	−0.149%	$8.8M	$32.6M	100x	as long as short
Gate ETH_USDT	+0.0074%	8h	2,772.6	−0.145%	$3.29B	$9.62B	200x	as long as short
SoDEX ETH-USD	+0.0077%	1h	2,773.2	−0.122%	$55.2M	$228.8M	40x	as long as short
Bybit ETHUSDT	+0.0093%	8h	2,772.5	−0.146%	$2.51B	$4.61B	150x	as long as short
HTX ETH-USDT	+0.0094%	8h	2,774.2	−0.086%	$1.08B	$1.32B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,772	−0.163%	$115.0M	$500.3M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,774.3	−0.084%	$25.3M	$121.4M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,773.2	−0.121%	—	$41.6M	500x	as long as short
KuCoin ETHUSDTM	+0.0098%	8h	2,771.5	−0.181%	$423.1M	$739.3M	100x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,770.9	−0.203%	$15.9M	$10.5M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,771.9	−0.168%	$476K	$2.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,775.1	−0.053%	$3.19B	$2.37B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,772.4	−0.150%	$31.2M	$299.8M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,771	−0.201%	$2.8M	$16.9M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,773	−0.129%	$2.7M	$17.5M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,767.4	−0.329%	$166.0M	$246.7M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,772.9	−0.132%	$15.2M	$44.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,769.4	−0.257%	$135.0M	$322.3M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,770.7	−0.211%	$181.3M	$782.1M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,772.9	−0.131%	$161.3M	$91.2M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,774.1	−0.089%	$21.4M	$58.0M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,773	−0.129%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,773.8	−0.100%	$10.8M	$7.6M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,785.4	+0.318%	$21K	$25K	25x	as long as short
Derive ETH-PERPlong	+0.0100%	1h	2,776.6	long leg	$42.7M	$29.3M	15x
SunX ETH-USDT	+0.0100%	8h	2,772	−0.164%	$972K	$14.0M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0103%	1h	2,776	−0.022%	$258.3M	$222.2M	50x	as long as short
Extended ETH-USD	+0.0104%	1h	2,770.9	−0.205%	$31.4M	$74.5M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,775.1	−0.052%	$60.1M	$4.60B	50x	as long as short
Kalshi KXETHPERP	+0.0122%	8h	2,773.3	−0.118%	$8.5M	$677.2M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0136%	8h	2,775.1	−0.055%	$32.5M	$12.0M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0170%	1h	2,774.7	−0.066%	$86.1M	$331.5M	100x	as long as short
BloFin ETH-USDT	+0.0180%	8h	2,773.1	−0.127%	$285.2M	$194.4M	150x	as long as short
Reya ETHRUSDPERPshort	+0.0191%	1h	2,772.4	−0.151%	$7.4M	$1.2M	25x
Hibachi ETH/USDT-P	+0.0192%	1h	2,775.1	−0.052%	$271K	$1.5M	20x	as long as short