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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 00:00 UTC−0.0103%/8h= −11.3% APRpaid last 24h −0.012%
Price spread now: Phoenix against edgeX+0.081%7-day average +0.127% · you sell dearer than you buy
Net, funding: paid 7d − costs−$21as in the Funding arb table
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$170.175% of the position
Long on edgeXShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days−0.033%−$3 on $10k
Price spread, last 7 days+0.028%+$3 · spread now +0.081%, 7d avg +0.127%
Together, before fees−0.005%+ Points / potential airdropedgeX: Active · farm board$0 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phoenix is 0.046% cheaper against edgeX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.127%). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongedgeX ETHUSDC2,768.60.0100pay 0.0050% / 4h3h 08m$183.7M$750.2M100x
ShortPhoenix ETH2,770.8−0.0003pay 0.0000% / 1h8m 49s$872K$3.7M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix against edgeX. 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
−$21.61
Price spread: +0.081% → +0.127%
−$4.56
Slippage, 4 orders
−$1.46
Fee edgeX: 4.5 bp × 2 orders
−$9
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$43.62
Costs to cover
0.175%
Break-even
never at this rate
Slippage from edgeX: live order book, 5 min ago; Phoenix: live order book, 5 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 edgeX live order book, 5 min ago0.04 bp4.8 bp −$55.7 bp −$575.9 bp −$5927.5 bp −$3,740
Sell Phoenix live order book, 5 min ago0.18 bp3.8 bp −$47.0 bp −$7015.8 bp −$1,578doesn't fit

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%1h2,773.8+0.189%$119K$22.5M52xas long as short
RISEx ETH/USDC−0.0128%1h2,774.1+0.199%$5.6M$11.2M25xas long as short
Perpl ETH−0.0112%43m2,773.8+0.187%$323K$6.2M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,774.6+0.218%$5K$1K50xas long as short
01 Exchange ETHUSD−0.0032%1h2,774+0.197%$169K$1.1M50xas long as short
Phoenix ETHshort−0.0003%1h2,770.8+0.081%$872K$3.7M25x
dYdX ETH-USD0.0000%1h2,774.7+0.221%$12.3M$42.8M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,773.2+0.168%$22.4M—200xas long as short
Phemex ETHUSDT+0.0006%8h2,772.4+0.139%$269.8M$65.9M150xas long as short
Bullet ETH-USD+0.0015%1h2,772.8+0.153%$185K$1.7M20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0031%8h2,772.4+0.137%$1.71B$10.98B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0043% / S −0.0009%1h2,773.2+0.168%$12.7M—200xas long as short
SoDEX ETH-USD+0.0045%1h2,771.8+0.117%$55.2M$187.7M40xas long as short
Aster ETHUSDT+0.0051%8h2,772.2+0.133%$256.4M$861.5M200xas long as short
Aevo ETH-PERP+0.0056%1h2,770.8+0.079%$5.0M$156K20xas long as short
MEXC ETH_USDT+0.0059%8h2,771.4+0.103%$1.61B$2.66B500xas long as short
Binance ETHUSDT+0.0060%8h2,771.6+0.110%$6.48B$16.06B150xas long as short
Aftermath Perps ETHUSD+0.0072%1h2,771.4+0.104%$31K$21K20xas long as short
HTX ETH-USDT+0.0077%8h2,771.9+0.120%$1.08B$1.23B200xas long as short
Bitget ETHUSDT+0.0079%8h2,772.4+0.138%$2.10B$2.82B150xas long as short
Coinbase International ETH-PERP-INTX+0.0080%1h2,773.3+0.172%$60.4M$4.40B50xas long as short
Gate ETH_USDT+0.0084%8h2,771.6+0.109%$3.38B$9.11B200xas long as short
Vest ETH-PERP+0.0085%1h2,773.9+0.193%—$876K50xas long as short
ApeX Omni ETHUSDT+0.0089%1h2,769+0.016%$8.6M$31.4M100xas long as short
KuCoin ETHUSDTM+0.0089%8h2,771.8+0.118%$420.8M$594.3M100xas long as short
Lighter ETH+0.0096%1h2,772.7+0.148%$115.2M$460.2M50xas long as short
Lighter RH ETH+0.0096%1h2,774.1+0.201%$25.6M$112.1M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,778.6+0.362%$16.0M$8.2M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,773.6+0.182%$486K$2.8M50xas long as short
Nado ETH-PERP+0.0100%1h2,773.8+0.188%$14.6M$112.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,774.6+0.218%$3.17B$2.10B25xas long as short
Pacifica ETH+0.0100%1h2,774.6+0.218%$31.4M$328.9M50xas long as short
Bybit ETHUSDT+0.0100%8h2,772.5+0.142%$2.51B$4.27B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,774.2+0.204%$2.8M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,774.7+0.222%$2.8M$16.7M25xas long as short
Bulk ETH-USD+0.0100%1h2,763.5−0.181%$172.0M$292.0M25xas long as short
BingX ETH-USDT+0.0100%8h2,771.9+0.120%—$1.20B—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,772.3+0.133%$15.2M$41.7M50xas long as short
Variational Omni ETH+0.0100%8h2,769.2+0.022%$134.1M$347.1M—as long as short
edgeX ETHUSDClong+0.0100%4h2,768.6long leg$183.7M$750.2M100x
GRVT ETH_USDT_Perp+0.0100%8h2,771.4+0.102%$161.1M$84.1M50xas long as short
StandX ETH-USD+0.0100%1h2,771.1+0.092%$21.4M$64.2M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,773.5+0.178%$10.5M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,773.3+0.170%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,774.2+0.204%$42.6M$28.9M15xas long as short
SunX ETH-USDT+0.0100%8h2,772.3+0.136%$972K$12.8M100xas long as short
Extended ETH-USD+0.0104%1h2,771.1+0.091%$30.9M$74.6M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,773.9+0.192%—$36.0M500xas long as short
Kalshi KXETHPERP+0.0116%8h2,774.8+0.225%$8.2M$673.4M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0134%1h2,773.4+0.175%$98.0M$314.3M100xas long as short
Orderly PERP_ETH_USDC+0.0157%8h2,775.1+0.235%$32.7M$11.0M100xas long as short
Hibachi ETH/USDT-P+0.0160%1h2,774.4+0.211%$253K$1.5M20xas long as short
Deribit ETH-PERPETUAL+0.0168%1h2,773.5+0.180%$259.1M$201.6M50xas long as short
BloFin ETH-USDT+0.0180%8h2,771.6+0.108%$288.0M$175.4M150xas long as short
Reya ETHRUSDPERP+0.0214%1h2,772.7+0.150%$7.3M$1.1M25xas long as short