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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 01:00 UTC+0.0111%/8h= +12.2% APRpaid last 24h −0.040%
Price spread now: Kalshi against dYdX−0.006%7-day average −0.005% · you buy dearer than you sell
Net, funding: paid 7d − costs−$54as in the Funding arb table
Net, price: spread back to 7d avg − costs−$31as in the Price arb table
costs, in and out, $10k−$310.309% of the position
Long on dYdXShort on Kalshi
What this pair did over the last
the charts below follow
Funding, last 7 days−0.227%−$23 on $10k
Price spread, last 7 days−0.049%−$5 · spread now −0.006%, 7d avg −0.005%
Together, before fees−0.275%−$28 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.005%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.227%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongdYdX ETH-USD2,776.40get 0.0000% / 1h25m 19s$12.2M$44.6M50x
ShortKalshi KXETHPERP2,776.20.0111get 0.0111% / 8h3h 25m$8.0M$680.6M4.9x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kalshi 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

Funding earned
$23.3
Price spread: −0.006% → −0.005%
−$0.1
Slippage, 4 orders
−$10.86
Fee dYdX: 5 bp × 2 orders
−$10
Fee Kalshi: 5 bp × 2 orders
−$10
Net
−$7.65
Costs to cover
0.309%
Break-even
9.3 days
Slippage from dYdX: live order book, 4 min ago; Kalshi: live order book, 4 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 dYdX live order book, 4 min ago4.87 bp9.9 bp −$1018.0 bp −$18022.0 bp −$2,19732.9 bp −$16.5K
Sell Kalshi live order book, 4 min ago0.36 bp5.4 bp −$57.2 bp −$7211.3 bp −$1,13218.5 bp −$9,246

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
Injective ETH/USDC PERP−0.0752%1h2,776.9+0.020%$119K$22.5M52xas long as short
RISEx ETH/USDC−0.0128%1h2,774.3−0.073%$5.6M$11.1M25xas long as short
Perpl ETH−0.0112%43m2,774.1−0.083%$321K$6.3M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,775.5−0.031%$5K$1K50xas long as short
01 Exchange ETHUSD−0.0040%1h2,774.9−0.052%$168K$1.1M50xas long as short
Phemex ETHUSDT−0.0023%8h2,776.1−0.011%$270.2M$67.5M150xas long as short
Phoenix ETH−0.0003%1h2,773.7−0.096%$873K$3.7M25xas long as short
dYdX ETH-USDlong0.0000%1h2,776.4long leg$12.2M$44.6M50x
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,776.40.000%$22.4M—200xas long as short
Bullet ETH-USD+0.0023%1h2,775.5−0.031%$186K$1.7M20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0026%8h2,776−0.013%$1.71B$11.19B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0043% / S −0.0009%1h2,776.2−0.006%$12.7M—200xas long as short
SoDEX ETH-USD+0.0045%1h2,776−0.013%$55.3M$188.1M40xas long as short
Aster ETHUSDT+0.0047%8h2,774.7−0.059%$256.9M$885.3M200xas long as short
Aevo ETH-PERP+0.0056%1h2,773.2−0.112%$5.0M$167K20xas long as short
MEXC ETH_USDT+0.0058%8h2,774.9−0.052%$1.63B$2.64B500xas long as short
Binance ETHUSDT+0.0060%8h2,775.6−0.029%$6.49B$16.30B150xas long as short
Aftermath Perps ETHUSD+0.0069%1h2,773.5−0.104%$31K$21K20xas long as short
Bitget ETHUSDT+0.0073%8h2,776.3−0.002%$2.10B$2.87B150xas long as short
Coinbase International ETH-PERP-INTX+0.0080%1h2,778+0.061%$60.4M$4.44B50xas long as short
Vest ETH-PERP+0.0083%1h2,775.2−0.043%—$876K50xas long as short
KuCoin ETHUSDTM+0.0085%8h2,774.6−0.063%$420.5M$621.7M100xas long as short
Gate ETH_USDT+0.0087%8h2,775.8−0.021%$3.38B$9.01B200xas long as short
Lighter ETH+0.0096%1h2,777.1+0.026%$115.4M$458.0M50xas long as short
Lighter RH ETH+0.0096%1h2,777+0.023%$25.8M$111.5M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,779.5+0.114%$16.0M$8.6M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,774.3−0.074%$486K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,774.6−0.064%$14.7M$114.0M50xas long as short
Hyperliquid ETH+0.0100%1h2,777.2+0.030%$3.18B$2.24B25xas long as short
Pacifica ETH+0.0100%1h2,775.7−0.025%$31.3M$325.2M50xas long as short
Bybit ETHUSDT+0.0100%8h2,776.3−0.003%$2.51B$4.35B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,775.8−0.020%$2.8M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,775.1−0.044%$2.8M$16.9M25xas long as short
Bulk ETH-USD+0.0100%1h2,772.8−0.126%$170.3M$276.6M25xas long as short
BingX ETH-USDC+0.0100%8h2,775.4−0.033%—$17.3M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,774.1−0.081%$15.1M$42.0M50xas long as short
Variational Omni ETH+0.0100%8h2,774.9−0.052%$139.2M$343.3M—as long as short
edgeX ETHUSDC+0.0100%4h2,772.4−0.141%$182.0M$784.0M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,773−0.120%$161.2M$84.6M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,773.1−0.118%$8.7M$32.2M100xas long as short
StandX ETH-USD+0.0100%1h2,773.7−0.096%$21.5M$63.7M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,775−0.049%$10.5M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,776.3−0.002%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,778.1+0.062%$42.7M$28.9M15xas long as short
SunX ETH-USDT+0.0100%8h2,775.3−0.038%$974K$13.2M100xas long as short
HTX ETH-USDT+0.0100%8h2,775.9−0.017%$1.08B$1.25B200xas long as short
Extended ETH-USD+0.0104%1h2,775.6−0.028%$31.0M$74.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,776.3−0.002%—$36.8M500xas long as short
Kalshi KXETHPERPshort+0.0111%8h2,776.2−0.006%$8.0M$680.6M4.9x
Kraken Futures PF_ETHUSD+0.0134%1h2,777.6+0.046%$96.2M$319.4M100xas long as short
Deribit ETH-PERPETUAL+0.0150%1h2,777.6+0.044%$259.1M$205.4M50xas long as short
Hibachi ETH/USDT-P+0.0152%1h2,776.3−0.002%$253K$1.5M20xas long as short
Orderly PERP_ETH_USDC+0.0152%8h2,779+0.094%$32.7M$11.1M100xas long as short
BloFin ETH-USDT+0.0180%8h2,776.5+0.005%$288.5M$182.3M150xas long as short
Reya ETHRUSDPERP+0.0212%1h2,774.9−0.053%$7.4M$1.2M25xas long as short