ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0058%/8h= +6.3% APRnext payment +$0.07 per $10,000 · paid last 24h −0.020%

Price spread now: Bullet against dYdX−0.137%7-day average +0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$260.258% of the position

Long on dYdX Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.223%−$22 on $10k

Price spread, last 7 days+0.101%+$10 · spread now −0.137%, 7d avg +0.018%

Together, before fees−0.122%−$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bullet is 0.156% cheaper against dYdX than usual: you would sell low and buy high (spread −0.137% now, against its 7-day average of +0.018%). If the spread goes back, that is −$16 on $10k: about 9.0 days of funding at the current rate (+$2 a day). Mind the row above: over the last 3 days funding on this pair cost −0.223%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ETH-USD	2,722.1	0.0012	pay 0.0001% / 1h	34m 21s	$10.8M	$41.9M	50x
Short	Bullet ETH-USD	2,718.3	0.0069	get 0.0009% / 1h	34m 21s	$179K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against dYdX. 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 dYdXbpFee BulletbpOrdersPrice spread, now −0.137%Rate

Funding earned: $12.12
Price spread: −0.137% → +0.018%: −$15.55
Slippage, 4 orders: −$7.8
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$29.23
Costs to cover: 0.258%
Break-even: 23.9 days

Slippage from dYdX: live order book, 5 min ago; Bullet: live order book, 5 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 dYdX live order book, 5 min ago	2.02 bp	7.0 bp −$7	23.4 bp −$234	46.0 bp −$4,604	87.8 bp −$43.9K
Sell Bullet live order book, 5 min ago	0.18 bp	5.2 bp −$5	8.2 bp −$82	doesn't fit	doesn't fit

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	2,720.4	−0.061%	$282K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,721	−0.039%	$5K	$1K	50x	as long as short
HTX ETH-USDT	−0.0010%	8h	2,724	+0.069%	$1.05B	$1.21B	200x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,718.8	−0.122%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0009%	1h	2,721.6	−0.017%	$814K	$3.0M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,719.1	−0.110%	$27.9M	—	200x	as long as short
Injective ETH/USDC PERP	+0.0009%	1h	2,721.2	−0.032%	$117K	$22.5M	52x	as long as short
dYdX ETH-USDlong	+0.0012%	1h	2,722.1	long leg	$10.8M	$41.9M	50x
Deribit ETH-PERPETUAL	+0.0015%	1h	2,719.5	−0.096%	$258.7M	$206.0M	50x	as long as short
01 Exchange ETHUSD	+0.0032%	1h	2,721.1	−0.036%	$186K	$787K	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDC	+0.0033%	8h	2,718.4	−0.134%	—	$18.5M	—	as long as short
Bybit ETHUSDT	+0.0042%	8h	2,718.2	−0.143%	$2.35B	$4.42B	150x	as long as short
Aftermath Perps ETHUSD	+0.0066%	1h	2,723.4	+0.048%	$30K	$20K	20x	as long as short
Bullet ETH-USDshort	+0.0069%	1h	2,718.3	−0.137%	$179K	$1.7M	20x
SunX ETH-USDT	+0.0070%	8h	2,724.6	+0.091%	$956K	$11.2M	100x	as long as short
KuCoin ETHUSDTM	+0.0075%	8h	2,719.4	−0.099%	$374.4M	$578.4M	100x	as long as short
Aster ETHUSDT	+0.0086%	8h	2,719.7	−0.087%	$251.7M	$845.0M	200x	as long as short
Phemex ETHUSDT	+0.0086%	8h	2,724.3	+0.083%	$263.4M	$64.3M	150x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,716	−0.222%	$4.9M	$155K	20x	as long as short
OKX ETH-USDT-SWAP	+0.0090%	8h	2,718.4	−0.136%	$1.66B	$10.79B	100x	as long as short
MEXC ETH_USDT	+0.0091%	8h	2,719.2	−0.107%	$1.55B	$2.57B	500x	as long as short
Binance ETHUSDT	+0.0091%	8h	2,718.7	−0.124%	$6.29B	$16.08B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,720.9	−0.044%	$111.3M	$432.5M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,721.9	−0.005%	$23.4M	$103.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,720.6	−0.054%	$498K	$3.4M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,722.8	+0.028%	$15.2M	$8.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,720	−0.076%	$13.8M	$105.0M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,721.7	−0.014%	$3.08B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,721.5	−0.023%	$31.9M	$334.4M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,720	−0.076%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,721	−0.039%	$1.5M	$16.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,723.8	+0.064%	$163.8M	$329.7M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,718.4	−0.135%	$3.29B	$8.93B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,718.4	−0.136%	$2.07B	$2.76B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,723.2	+0.040%	$14.9M	$43.1M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,723.2	+0.043%	$133.0M	$326.9M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,721.7	−0.014%	$184.3M	$675.8M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,723.6	+0.056%	$158.5M	$87.0M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,723.1	+0.038%	$8.6M	$31.3M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,724.7	+0.096%	$21.0M	$71.5M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,721.9	−0.007%	—	$876K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,721.1	−0.036%	$11.1M	$9.6M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,719	−0.111%	$22K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,719.6	−0.089%	$40.8M	$30.1M	15x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,725.2	+0.115%	$54.3M	$187.9M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,719.9	−0.081%	$30.5M	$74.3M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,720.7	−0.050%	—	$31.3M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,726.3	+0.154%	$49.9M	$4.29B	50x	as long as short
RISEx ETH/USDC	+0.0108%	1h	2,721.1	−0.035%	$5.6M	$11.7M	25x	as long as short
Kalshi KXETHPERP	+0.0159%	8h	2,725.3	+0.118%	$6.4M	$692.2M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0176%	1h	2,725.6	+0.131%	$82.9M	$316.2M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0188%	8h	2,720.6	−0.054%	$32.0M	$11.6M	100x	as long as short
Reya ETHRUSDPERP	+0.0201%	1h	2,718.4	−0.134%	$7.3M	$1.2M	25x	as long as short
BloFin ETH-USDT	+0.0210%	8h	2,724.8	+0.099%	$282.9M	$174.7M	150x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,726.2	+0.153%	$249K	$1.4M	20x	as long as short